NEFCO to purchase carbon credits for Norway

The Ministry of Finance has signed an agreement with the Nordic Environment Finance Corporation, NEFCO, to purchase carbon credits in the second commitment period of the Kyoto Protocol (2013-2020). Through this agreement Norway will purchase up to 30 million credits from stranded UN-approved projects facing a risk of discontinuation due to the low CER prices.

As outlined in the Revised National Budget, the Government emphasized that the credit procurement will support the development and legitimacy of the international market for carbon offsets. Due to the situation in the market, with a huge oversupply of credits and low prices, this implies that the program will only procure credits from existing projects facing a risk of discontinuation and from new projects. The program will rely on the UN-approval of carbon credits and on the guidelines for the program in the first Kyoto period.

NEFCO is an international financial institution owned by the five Nordic countries. NEFCO mainly finances environmental-related projects and investments, in order to generate positive environmental effects for the Nordic region. It's Carbon Finance and Funds department operates globally, and has assets under management including carbon finance facilities, climate guarantees and technical assistance products totaling EUR 230 million.

 

Related news

Latest news

New contract: Windcat 41 - no 17 in the Servogear series

Servogear announces the signing of a new contract with Windcat Workboats BV for the delivery of Servogear Controllable Pitch Propellers (CPP)  for their new vessel Windcat 41. 

Seacat Enterprise to be launched January 12th

Seacat Services, is preparing to launch its first High Speed Utility Vessel (HSUV), Seacat Enterprise at January 12th.

Norsafe Signs Contract with the Swedish Coast Guard (KBV)

On Wednesday 21st December, Norsafe signed yet another new contract with the Swedish Coast Guard (KBV) to deliver nine new Magnum 750 MKII boats.

A Unique Second-generation Tomograph is Developed

A new gamma-ray tomograph designed to image up to 4” diameter pipes, is developed by CMR Prototech for the Saskatchewan Research Council (SRC) in Canada.

Sohome launches a new website

Sohome has launched a new website that makes it easier to find key information. 

Sohome AS receives orders for Johan Sverdrup Project

Sohome AS is proud to be a sub-contractor to Intelecom AS for the Johan Sverdrup Project. 

New 55'' Ultra High Definition Chart and Planning table passes Type Approval testing

Most advanced maritime display system ever produced, the 55'' Ultra High Definition Chart & Planning table, enables Integrated Bridge System manufacturers to develop new multi-data solutions.

Norsafe's experience in the Polar Code Pays Off

In readiness for the introduction of the Polar code, Norsafe has become the first LSA supplier to have executed full scale tests and trials 

Øglænd System Group winner of Business of the Year Award

Øglænd System Group won the Business of the Year Award in the Stavanger-region 2016.