The Gothenburg Statement

Closing Statement of the Nordic Compass Summit 2026 | 4-5 November, Gothenburg

By the Board of Nordic Compass

Photo: Per Pixel Petersson / Göteborg & Co

The Nordic countries face a new geopolitical reality. Global tensions are rising, trade and security ties are shifting, and competition for technology, capital and resources is intensifying.

Europe is falling behind in key areas of innovation and growth, while its security and economic resilience are under growing pressure.

The Nordic countries have all the necessary tools at their disposal. We have strong economies, world-class companies, advanced technologies, and a long tradition of trust and cooperation. But our countries are small, and we cannot meet the challenges alone.

This is why Nordic Compass was established on 12 May 2026. We are an industry-led alliance. Our basic approach is that Nordic business and Nordic governments must work together much more closely to reach our common goals.

Nordic Compass is designed to spearhead Europe’s competitiveness and resilience, not as an alternative to European cooperation.

Turning shared strengths into joint action

Today, we welcome the commitment of 40 of the most important companies and foundations in the Nordic region. We have joined forces to strengthen Nordic competitiveness and resilience.

This reflects a shared belief that closer cooperation across borders and industries, and between business and governments, is both necessary and possible.

Our ambition for Nordic Compass is to deliver concrete results and move from analysis to implementation.

Presently, our work gives priority to four areas where joint Nordic action can make a real difference: Capital Markets, Deep Tech, Defence and Energy.

The members of Nordic Compass have driven work that can concretely mobilise more Nordic growth capital; improve the incentives for investment in cross-border Nordic energy connectivity; strengthen the ability of the Nordics to develop and apply new technology; and build shared Nordic defence capabilities.

Progress at the Gothenburg Summit

At the Gothenburg Summit on 4-5 November 2026, we have agreed on a substantial pipeline of initial projects as the result of work across the four thematic tracks. Of these, a number of selected initiatives will be ready to move towards implementation in the foreseeable future.

We would like to express our huge appreciation for the leadership, commitment and hard work of the companies, foundations and individuals involved.

The concrete proposals, priorities and next steps for each of the four tracks are set out in the chairs’ summaries presented today.

It has been less than six months since Nordic Compass was launched. We are greatly encouraged by what has been achieved in this short time: practical solutions, clear industrial ownership, and the possibility of real impact. This demonstrates the untapped potential of combining the strengths of the Nordic region when business and governments work together.

Partnerships and the way forward

We will now continue to develop these and other initiatives towards implementation.

Full execution will require strong partnerships with governments, public authorities and businesses across the Nordic region.

For each initiative, a tailor-made implementation structure with clear ownership will be developed.

In some areas, the private sector will be able to carry implementation forward itself. In others, public-private partnerships or similar forms of collaboration will be required.

The Gothenburg Summit brought together governments from all five Nordic states and a broad range of sector expertise. We invite Nordic governments, companies, public authorities and relevant stakeholders to engage with us in securing implementation.

The Gothenburg Summit is an important milestone, but the real work lies ahead. The second Nordic Compass Summit on 10-11 November 2027 will be an occasion to take stock of our progress.

The Board of Nordic Compass | Gothenburg, 5 November 2026

Jyrki Katainen, Chair of Nordic Compass, former Prime Minister of Finland and Vice-President of the European Commission

Kristin Skogen Lund, Vice Chair of Nordic Compass and Chair of the Board of INSEAD.

Øyvind Eriksen, CEO of Aker ASAA

Ásta Fjeldsted, CEO of Festi hf.

Antti Herlin, Chair of the Board of Directors, KONE Corporation

Lars Rebien Sørensen, Chair the Board of Directors, Novo Nordisk Foundation

Jacob Wallenberg, Chair of Board, Investor AB, Vice Chair of Board, Wallenberg Investments AB

Christian Frigast, Secretary-General of Nordic Compass; Chair of Board of the Enterprise Think Tank

Henrik Skovby, Secretary-General of Nordic Compass; Founder of Dalberg Group