One number, one country, refreshed every two years.
Built to stand up when a central bank economist picks at it, and built so we can say what we think about the market without it being dismissed.
"If I don't understand how your business generates revenue, how you compete, or what keeps your CFO up at night, I have no business advising you on sustainability."
Bjarni Herrera, Founder & CEO
Why it exists
Ask a bank, a regulator or a finance ministry what share of the financial market is actually funding the transition, how that compares with what the transition costs, and whether the gap is closing. You will not get a straight answer, because nobody publishes one.
The labelled market is easy to see, but it is only part of the picture and it flatters it. The institutions that could measure this properly either do not, or would rather the real number stayed out of public view. We measure it and we publish it.
Vision
An economy where sustainability and business are one.
North star
Our clients choose us again.
Mission
We help clients make better business decisions through senior advisors who bridge sustainability and sustainable finance.
Independence
The report is direct. It names bad practice and calls out mistakes rather than hedging, and it does not write in the usual thought-leadership register. That position holds because the working behind it is open.
We do not lean on labels The category is decided by the activity the money funds, not the badge on the instrument.
We show the unclear money A whole category exists for financing that cannot yet be assigned, rather than forcing it.
We grade our own sources Every source is marked reliable, estimated or proxy, and that grading is published.
Our Values
Trust
We keep our word and speak plainly. You get honest advice, not comfortable advice.
Excellence
We examine deeply before we advise. Our work holds up under scrutiny.
Growth
We stay current so our advice stays relevant. Continuous learning is not optional.
Focus
We spend time on what is material to you. No noise, no filler.
Our Values
Trust
We keep our word and speak plainly. You get honest advice, not comfortable advice.
Excellence
We examine deeply before we advise. Our work holds up under scrutiny.
Growth
We stay current so our advice stays relevant. Continuous learning is not optional.
Focus
We spend time on what is material to you. No noise, no filler.
The method
The headline is one slice of a closed account of the financing market, not a ratio on its own. Everything is sorted into categories that do not overlap and that add up to the whole market.
The method is published as its own document, reviewed outside the firm, with a section that is honest about where it is weak. It is mapped onto frameworks already in use: the EU Taxonomy, CSRD and ESRS, the ICMA and LMA principles, the EU Green Bond Standard, and the ECB and Eurostat sustainable finance statistics.
"We have a sustainability report, but I'm not sure we have a strategy"
"We have a sustainability report, but I'm not sure we have a strategy"
Iceland Published
Norway Published
Faroe Islands In preparation
Denmark In preparation
Greenland In preparation
Sweden In preparation
Finland In preparation
Nordic aggregate Across all editions
Coverage
Nordic markets, one country at a time, on a rolling two-year cycle, plus a Nordic-wide report that aggregates them.
A single edition is a measurement. The series is the record.
By Accrona
The Country Gap Report is built and published by Accrona, a senior sustainability and sustainable finance advisory firm. Accrona carries the delivery, the analytical discipline and the accountability behind every edition.
The report's value is its independence, so it is built and presented on its own footing, with Accrona as the firm that stands behind the work.
Contact
For access to a published edition, the Nordic aggregate, or notice when an edition in preparation is released, get in touch.
Open applications
Even when we're not actively hiring, we want to get to know you.
Internships
Real client work from day one, alongside senior advisors.
Transitions
For experienced professionals who want to contribute between chapters.
Careers
We hire people who do what they say they'll do and deliver work that holds up under scrutiny. If that sounds like you, we'd like to hear from you.
Reach out using contact details below.
Careers
We hire people who do what they say they'll do and deliver work that holds up under scrutiny. If that sounds like you, we'd like to hear from you.
Reach out using contact details below.
Open applications
Even when we're not actively hiring, we want to get to know you.
Internships
Real client work from day one, alongside senior advisors.
Transitions
For experienced professionals who want to contribute between chapters.