Green charges have been part of Nordic policies in more than three decades, and the Nordic countries have been perceived as frontrunners in the green transition. However, this image does not fully live up to its reputation anymore. Commissioned by the Nordic Council of Ministers, this report presents the findings of the impact of selected green taxes and charges in the Nordic countries—Denmark, Finland, Norway, and Sweden. The analysis dives into the market impact of selected green taxes and charges in the Nordic countries, to understand whether the charge has had the desired effect on market behaviour or not and reasons behind it. The findings show that green charges often fall short of optimal levels needed to fully internalise environmental costs and that the precision of their design often has a greater influence on outcomes than the charge level itself. Many green charges align positively with broader policy goals. However, the analysis clearly shows the importance for the Nordic countries to keep ensuring scientific evaluation of environmental economic instruments, to not fall behind and to dare believe that we can still be a frontrunner in a global context.