Green roofs are complex systems, with a vegetation layer covering the outermost surface of the building shell. An effective design may confer environmental and energy benefits. Most field studies evaluating green roof performance have been conducted in warmer climates with few studies of full-scale green roofs in cold regions. No study has so far evaluated the energy performance of a green roof in a sub-arctic climate. This study demonstrates the heat flow and thermal effect of an extensive green roof versus a black bare roof area on a highly insulated building in the sub-arctic town of Kiruna, Sweden, for the period from November 2016 to February 2018. Measured temperature and heat flux values were consistently higher and more variable for the black roof than the green roof, except during the snow-covered winter months when the responses were similar. The cumulative heat flux showed that the net heat loss was greater through the black than the green roof, but the values remained low. Overall, the study confirms that the energy benefit of a green roof on a highly insulated building in a subarctic climate is low.