A method and apparatus for a gas-cooled plasma arc torch. Components of the torch can include an electrode, nozzle and a shield, each of which can be gas-cooled. The nozzle can be disposed relative to the electrode and can include a generally hollow conductive body and a cooling gas flow channel defined by at least one fin disposed about an exterior surface of the body, the body providing a thermal conductive path that transfers heat between the nozzle to the cooling gas flow channel during operation of the torch. The shield can be disposed relative to the nozzle and can include a generally hollow conductive body and a cooling gas flow channel defined by at least one fin disposed about an exterior surface of the body, the body providing a thermal conductive path that transfers heat between the shield to the cooling gas flow channel during operation of the torch.