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Norwegian Industry to Get CO2 Compensation

Government establishes a CO2 compensation for industry sector to prevent relocation to countries with a less active climate policy.

- We will make arrangements for the proper development of Norwegian industry. Therefore we take action for such schemes, says Prime Minister Jens Stoltenberg.

The Norwegian CO2 compensation will be tied closely to the method for calculating the support specified in the EU guidelines. The Government emphasizes that the scope of the scheme will vary from year to year, depending on changes in the quota price.

The scheme will apply for the period from 1 July this year to 31 January 2020 and includes all the 15 sectors in accordance with EU guidelines. This includes manufacturers of aluminum, ferro alloys, chemicals and paper.

Stoltenberg pointed out that poor climate policy and bad economic policy can lead to so-called carbon leakage, the emission of greenhouse gases to other countries instead of cut. CO2 compensation will counteract this trend.

- Norwegian industry at the forefront of low emissions and energy efficiency. We must ensure that the industry can develop in an environmentally friendly direction without strict environmental measures. A good CO2 compensation in a transitional phase will contribute to this, says Environment Minister Bård Vegar Solhjell.

The new scheme will be managed by the Climate and Pollution Agency (KLIF).

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