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).

Related news

Latest news

New order for Servogear

Servogear announces that they have received a new order from Brødrene Aa. 

Norwater AS reports boost in sales

The Norwater team reports of great interest and busy days in 2016. In a press release, they state that as of the first 8 months of the year, 2016 sales are already beyond target for the year as a whole.

Gaia-facts reaching ground control

The European Space Agency (ESA) has released the first data from the Gaia mission, which has the tremendous task of building the most precise 3D map of the Milky Way.

Polish delegation for Norwegian circular waste management

Against the background of the EU's ambitious waste management targets, Norwegian and Polish stakeholders met on Wednesday 14 September in Drammen.

Milestone at Mongstad Water Treatment Plant

SAR AS reports that an extensive upgrade to the water treatment plant at Mongstad reached a new milestone July. 

Servogear signs new contract with Özata Shipyard

Servogear has announced the signing of a new contract with Özata Shipyard in Turkey. The contract includes the delivery of Servogear Ecoflow PropulsorTMfor two 39 meter passenger catamarans (YN 41 & YN 42).

Statoil and Petrobras strengthen strategic partnership

Statoil reports that they have strengthened their cooperation in Brazil by signing a Memorandum of Understanding (MoU) with Petrobras.

TechInvent and Island Offshore/Centrica announced winners of ONS Innovation Award

TechInvent and Island Offshore/Centrica were announced winners of the ONS 2016 Innovation Awards, at the Innovation Awards Ceremony Tuesday 30 August.

Alu Design chair in Star Trek Beyond

Alu Design boldly goes where no maritime chair manufacturer has before, as MH OCH 300 operator chair lands starring role in Star Trek Beyond.