A Norwegian style sovereign wealth fund could enable all Australians to benefit from Australia’s natural resources and help Australia manage the next resource boom.

Nordic countries have long considered multilateralism key to combatting climate change and environmental issues. This month, the Stockholm+50 conference commemorated 50 years since the landmark United Nations Conference on the Human Environment, and for the first time saw United Nations Member States formally recognise the need to phase out all fossil fuels.

“The looming applications by Finland and Sweden for NATO membership together constitute the most significant strategic change in Europe since the collapse of the Soviet Union and the destruction of the Berlin Wall,” said Allan Behm, Director of the Australia Institute’s International & Security Affairs Program.

Australia has a great opportunity to improve its policies for children.

Nordic nations have endorsed a commitment to advance “A Green and Gender-Equal Nordic Region”[1] by 2030, adding to a growing international movement calling for feminist action for climate justice.

Nordic nations are integrating sustainability criteria into their 2022 dietary guidelines to promote both nutrition and environmental sustainability, and hope to inspire countries outside the Nordic region to follow suit. Australia is currently updating its own dietary guidelines for the first time in ten years.

“Australia has missed a great opportunity to improve its parental leave policies, invest in children's early years, support parents and improve gender equality,” said Professor Andrew Scott at Deakin University and Convenor of The Australia Institute’s Nordic Policy Centre.

As Australia considers how to respond to the invasion of Ukraine, the Nordic countries have shown how independent foreign policy is strengthened by consistent diplomacy, development aid and domestic economic management.

Queensland and Sweden may not appear to have much in common, but both are looking to use abundant renewable energy to drive regional development.