The product group includes equity fund, bond funds, mixed funds and investments products. Nordic Swan Ecolabel funds must fulfil requirements within four different sustainability strategies.
- Exclude the worst companies and industries within coal, oil, gas, nuclear, tobacco, weapons, and non-compliance with international norms.
- Include more sustainable companies, by rewarding companies with strong sustainability work seen from a ESG and EU Taxonomy perspective. The criteria also have a special focus on sectors with high GHG emissions and / or high risk of biodiversity impact.
- Exercise active ownership, by engaging with companies where there is uncertainty as to whether they live up to international norms if the company is not sold.
- Publish all holdings in the portfolio and publish an annual sustainability report.
In addition, the fund shall collect points by showing a strong green inclusion or a strong active ownership.
Welcome to apply for a Nordic Swan Ecolabel licence!
This is how you do:
- Read the application guide.
- Log in to the Nordic Ecolabelling Portal.
- Start your application.
If this is the first time you are applying, the authorized signatory must fill in your company information and approve the application conditions. In this way, you get login to the portal and the right to assign access to other colleagues.
Some special cases can not be done in the Nordic Ecolabelling Portal. Contact your advisor for such cases. More information can be found on Application step by step.
Fees are charged per commodity group according to the price list below.
| Valid from 1/1 2026 | Amount excluding VAT |
| Application fee | |
| Application for a new licence | 3 401 EUR per fund. |
| Index funds (based on a pre-evaluated index that has been reviewed and approved by the Nordic Swan Ecolabel) | 2 267 EUR per fund. |
| Index providers and investment products | 141 EUR per hour. |
| Application for a renewed licence when the requirements have been tightened | 1 699 EUR per fund. |
| Annual licence fee | |
| Annual Nordic licence fee | |
| The annual licence fee is based on the size (AUM*) and the ongoing charges of the fund. | |
| The licence fee is determined by calculating the average AUM held by Nordic unitholders (during the period of the year when the fund has had a valid Nordic Swan Ecolabel license). | |
| Ongoing charges of fund | Licence fee | |
| ≥ 1,00% | 0,0015% of AUM |
| <1,00% | 0,0014 % of AUM |
| <0,80% | 0,0013% of AUM |
| <0,60% | 0,0012% of AUM |
| *Assets Under Management | |
| Annual fee, index providers | 1 699 EUR (one-day inspection) + travel costs. Please refer to “Fees for on-site inspections”. |
| Inspection lasting more than one day | 141 EUR per hour |
| Annual fee, investments products | 2 267 EUR + travel costs. Unlimited number of products. |
| Minimum fee for a Nordic fund licence | 1 699 EUR per year |
| Maximum fee for a Nordic fund licence | 10 464 EUR per year and 104 648 EUR per group, at a minimum 2 267 EUR per fund. |
NB! Funds can also be marketed with the Nordic Swan Ecolabel outside the Nordic countries. The licence fee for funds is based on the AUM that Nordic unitholders hold in the Nordic Swan Ecolabelled fund.
The minimum or maximum fee is reduced for the first year for applications granted after 1 July. This also applies to investment products. The regular minimum or maximum fee is multiplied by (the number of remaining days in the current year) x 2/365.
Fee for extension / change of licence
Fixed fee that is charged depending on how long the work takes.
| Up to 4 hours | 424 EUR |
| 4-8 hours | 849 EUR |
| 8 or more hours | 1 699 EUR |
Fee for on-site inspections
One on-site visit within the Nordic region is included in the application for a new or renewed licence.
| Additional on-site inspection within the Nordic region | 565 EUR per visit |
| On-site inspection outside the Nordic region, but within Europe | 1 699 EUR per visit |
| On-site inspection outside Europe | 2 834 EUR per visit |
| Additional fee for on-site inspections lasting longer than one day | 1 132 EUR per day |
About the fees
For clarification of fees, click here.
Ecolabelling Sweden AB has no financial profit purpose and is financed through the fees above along with an annual government grant. The company is however liable for VAT according to article 56 of the European Council Directive 2006/112/EC.
Invoicing is made in SEK with the exchange rate from the first banking day of the year.
When both the applicant and the manufacturer are micro-enterprises, the application fee is reduced by 50%. A micro-enterprise is in this context defined as an enterprise with less than 10 employees and an annual turnover (of both ecolabelled and not ecolabelled products) below 2 million EUR.
| Valid from 1/1 2025 | Amount excluding VAT |
| Application fee | |
| Application for a new licence | 3 348 EUR per fund. |
| Index funds (based on a pre-evaluated index that has been reviewed and approved by the Nordic Swan Ecolabel) | 2 232 EUR per fund. |
| Index providers and investment products | 139 EUR per hour. |
| Application for a renewed licence when the requirements have been tightened | 1 673 EUR per fund. |
| Annual licence fee | |
| Annual Nordic licence fee | |
| The annual licence fee is based on the size (AUM*) and the ongoing charges of the fund. | |
| The licence fee is determined by calculating the average AUM held by Nordic unitholders (during the period of the year when the fund has had a valid Nordic Swan Ecolabel license). | |
| Ongoing charges of fund | Licence fee | |
| ≥ 1,00% | 0,0015% of AUM |
| <1,00% | 0,0014 % of AUM |
| <0,80% | 0,0013% of AUM |
| <0,60% | 0,0012% of AUM |
| *Assets Under Management | |
| Annual fee, index providers | 1 673 EUR (one-day inspection) + travel costs. Please refer to “Fees for on-site inspections”. |
| Inspection lasting more than one day | 139 EUR per hour |
| Annual fee, investments products | 2 232 EUR + travel costs. Unlimited number of products. |
| Minimum fee for a Nordic fund licence | 1 673 EUR per year |
| Maximum fee for a Nordic fund licence | 10 300 EUR per year and 103 000 EUR per group, at a minimum 2 232 EUR per fund. |
NB! Funds can also be marketed with the Nordic Swan Ecolabel outside the Nordic countries. The licence fee for funds is based on the AUM that Nordic unitholders hold in the Nordic Swan Ecolabelled fund.
The minimum or maximum fee is reduced for the first year for applications granted after 1 July. This also applies to investment products. The regular minimum or maximum fee is multiplied by (the number of remaining days in the current year) x 2/365.
Fee for extension / change of licence
Fixed fee that is charged depending on how long the work takes.
| Up to 4 hours | 418 EUR |
| 4-8 hours | 836 EUR |
| 8 or more hours | 1 673 EUR |
Fee for on-site inspections
One on-site visit within the Nordic region is included in the application for a new or renewed licence.
| Additional on-site inspection within the Nordic region | 557 EUR per visit |
| On-site inspection outside the Nordic region, but within Europe | 1 673 EUR per visit |
| On-site inspection outside Europe | 2 790 EUR per visit |
| Additional fee for on-site inspections lasting longer than one day | 1 115 EUR per day |
About the fees
For clarification of fees, click here.
Ecolabelling Sweden AB has no financial profit purpose and is financed through the fees above along with an annual government grant. The company is however liable for VAT according to article 56 of the European Council Directive 2006/112/EC.
Invoicing is made in SEK with the exchange rate from the first banking day of the year.
When both the applicant and the manufacturer are micro-enterprises, the application fee is reduced by 50%. A micro-enterprise is in this context defined as an enterprise with less than 10 employees and an annual turnover (of both ecolabelled and not ecolabelled products) below 2 million EUR.
On March 17, 2026, Nordic Ecolabelling decided the following:
- Prolong the validity of the criteria until August 31, 2027
- Adjust requirement O13 and P2. The use of Near‑term SBTs is no longersubject to a deadline.
The new version is 2.6
2.4 ⇛ 2.5: Prolongation of the validity of the criteria
Nordic Ecolabelling decided on January 7, 2025, to prolong the validity of the criteria until March 31, 2027. The new version is called 2.5.
2.3 ⇛ 2.4: Adjustment of criteria
Nordic Ecolabelling decided on 12 March, 2024, to make the following adjustments:
- Adjust requirement O13 and P2 so that a validated 1.5° Near Term SBT can be used until January 31, 2026, based on that the number of companies with a validated Net-Zero SBT is still low.
- Adjust requirement O13, bullet point 4, by specifying that the comparison is done by its peers.
- Adjust requirement P1 so that OpEx can be used in the formula to calculate EU-taxonomy alignment.
The new version is called 2.4.
2.2 ⇛ 2.3: Prolongation of the validity of the criteria
The criteria of Investment fund and products have been prolonged by 12 months until January 31, 2026.
2.1 ⇛ 2.2: Adjustment of criteria
Nordic Ecolabelling decided on March 29 2023 the following:
- Adjust requirement O13 were an additional option was added to eligibility 3 for the aluminium and steel sectors.
- Adjust requirement O13 were an additional option to calculate GHG intensity in eligibility option 4 was added for some sectors.
The new version is called 2.2 and is valid until 31 January 2025.
2.0 ⇛ 2.1: Adjustment of criteria
Nordic Ecolabelling decided on the 15 September 2022 to make the following adjustments:
- Adjust requirement O13 so that a validated 1.5° Near Term SBT can be used until 1 June 2024.
- Adjust requirement O13 so that proxies for GHG emissions can be used until 1 June 2024.
- Adjust requirement O14 so that it is specified that the EU Taxonomy analysis shall include objectives 3-6.
- Adjust requirement P3 so that engagement in companies outside the portfolio may account for up to half of the total engagement.
- Nordic Ecolabelling further decided on the 8 November 2022 that in requirement O9 the exclusion of companies that are under sanction by the EU or UN was added.
The new version is called 2.1 and is valid until 31 January 2025.
2.0: Adoption of criteria
The Nordic Ecolabelling Board decided on 15 February 2022 to adopt new criteria for investment funds. Version 2.0 is valid until 31 January 2025.
1.3 ⇛ 1.4: Prolongation of the validity of the criteria
Nordic Ecolabelling decided on the 15 Februari 2022 to prolong the validity of the criteria to the 31 March 2023. The new version is called 1.4.
1.2 ⇛ 1.3: Extention of criteria
Nordic Ecolabelling decided on the 6 May 2020 to extend the criteria to include investment products investing in Nordic Swan Ecolabelled investment funds. The new version is called 1.3.
1.1 ⇛ 1.2: Prolongation of the validity of the criteria
Nordic Ecolabelling decided the 22 Februari 2020 to prolong the validity of the criteria to the 30 June 2022. Furthermore, an adjustment of requirement O6 was made. The new version is called 1.2.
1.0 ⇛ 1.1: Adjustment of criteria
The Nordic Ecolabelling Board decided on 14 March 2018 that qualified non corporate green bonds can be included when the applicant shows that the fund can apply for a license. The new version is called 1.1.
1.0: Adoption of criteria
The Nordic Ecolabelling Board decided on 14 June 2017 to adopt criteria for investment funds. Version 1.0 is valid until 30 June 2020.