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Norway Aims To More Than Triple National CO2 Price By 2030

Norway Aims To More Than Triple National CO2 Price By 2030

The Norwegian government on Friday proposed to raise a national tax on carbon dioxide (CO2) emissions almost threefold to 2,000 Norwegian crowns ($237) per tonne by 2030 to help reach the country's climate goals.

OSLO: The Norwegian government on Friday proposed to raise a national tax on carbon dioxide (CO2) emissions almost threefold to 2,000 Norwegian crowns ($237) per tonne by 2030 to help reach the country’s climate goals.

The national tax would gradually increase from around 590 crowns per tonne at present, it said when presenting its “Climate plan 2021-30”.

At the same time, it would lower other taxes and levies for those affected by the tax, it said.

The government would also include the cost of European emission allowances in the overall fee for its petroleum and national aviation sectors, which participate in the European emissions trading system (EU ETS), it said.

Norway, western Europe’s largest oil and gas producer, aims to cut its greenhouse gas emissions by 50-55% by 2030 compared with 1990 levels.

“The government will show how the oil and gas industry will cut, by 2030, its emissions by 50%,” Solberg said.

($1 = 8.4363 Norwegian crowns)

(Additional reporting by Nerijus Adomaitis, editing by Terje Solsvik)

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor


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