Norway aims at becoming carbon neutral by 2050 by significantly reducing its own greenhouse gas emissions and offsetting the remaining through the purchase of emission reductions world-wide. We have also decided to over-fulfil our commitments for emission cuts under the Kyoto Protocol by 10 per cent, corresponding to 5 million tons of CO2- equivalents annually in the period 2008-2012. (Jens Stoltenberg, Prime Minister, September 2007)
International emission trading will be an important instrument to reduce global greenhouse gas emissions. Norway intends to make full use of the carbon markets to secure effective and affordable reductions in GHG emissions. Norway will actively contribute to the development of this market. (Kristin Halvorsen, Minister of Finance, September 2007)
Acting through the Ministry of Finance, the Norwegian Government will acquire credits from Clean Development Mechanism (CDM) and Joint Implementation (JI) projects. As Norway will be a member of the Emissions Trading Scheme, Norway also plans to sell part of its allocation of European Union Allowances (EUA) in the open market.
For further information about this scheme and opportunities for financing green projects, please consult the website www.carbonneutralnorway.no