Norway Paris Agreement
The Paris Agreement came into force in November 2016. This is the first global agreement that commits all countries to more ambitious targets for reducing greenhouse gas emissions. Norway was one of the first countries to ratify the agreement. The Paris Agreement gives reason to hope that countries around the world can work together to prevent dangerous climate change. The Norwegian government has presented its new target of reducing emissions by at least 50% by 2030 as part of the UN Paris climate agreement. – Environmental cooperation is part of the EEA agreement and almost all EU environmental legislation is transposed into Norwegian legislation. Topics include Sgvo, water, air, chemicals, waste, environmental impact assessment and genetically modified organisms. Norway today presented an improved climate target as part of the Paris Agreement. Norway`s new and strengthened goal is to reduce its emissions by at least 50% and 55% by 2030 from 1990 levels. This year, countries will present for the first time their new or updated emission targets since the Paris Agreement plans to achieve Norway`s broader target in cooperation with the European Union. Thanks to an agreement with the EU, Norway has already committed to working with the EU to reduce its emissions by at least 40% by 2030 from 1990 levels.
But many governments, climate activists, the UN, cities and businesses are seeking urgent upgrades this year to combat the aggravating effects of warming. We consider Norway`s unconditional NDC to be “inadequate” and not in line with the limit on warming below 2 degrees Celsius, let alone the higher limit of 1.5 degrees Celsius of the Paris Agreement, unless other countries make much deeper reductions and comparatively greater efforts. In 2020, due to the impact of COVID-19 on the economy and activity, current political emissions will be 5% to 9% lower than in 2019. The Norwegian government has presented a $2.8 billion (NOK 27 billion) stimulus package. These include tax breaks for oil and gas companies that economists say could lead Norway to extract oil and gas longer than expected. The aviation industry has also received significant financial support, without conditions, to improve the sector`s impact on the climate. Only $375 million (NOK 3.6 billion) of the stimulus package is earmarked for green measures, including research and development of green technologies. The Marshall Islands, Suriname and Norway have presented plans for tougher measures to combat climate change ahead of a five-year stage of the 2020 Paris Agreement, with nearly 200 others ignoring an informal deadline of 9 February. In May 2020, the Norwegian central bank decided to separate Glencore, Anglo-American and RWE for their coal activities. This followed a june 2019 decision, when the Norwegian parliament voted in favour of an extension of the divestment policy, in which its huge public pension fund (also known as oil funds) not only ends investments in companies involved in oil and gas exploration and production, but also subtracts from eight coal companies. The measures include a ban on the Fund investing in any company producing more than 10 GW of electricity from coal – or extracting more than 20 million tonnes of coal per year. Instead, some of the funds will be invested in unlisted renewable energy projects.
Jaluit Atoll Lagoon, Marshall Islands (Photo: Keith Polya /Flickr) Norway is the main source of hydrocarbons in Europe, making it the world`s fifth largest exporter of crude oil, and its offshore drilling activities have been subject to a carbon tax since 1991.