“Speaking on behalf of the EU & Norway”?
9 February 2015
Norway likes its image of the good student who always completes its homework, and is on time at that. And so too with its INDC. Last Friday, we saw the Norwegian government publish its new emission reduction targets for 2030.
The idea is, surprisingly, to start negotiations with the EU, with the goal of being included in the entire EU climate framework—both ETS and non-ETS sectors. This would mean adopting all EU targets, including a 43% reduction in the ETS sector by 2030, and with a clear intention of buying as many ETS allowances as possible. The hope seems to be that this will reduce the need to bother the petroleum industry with more restrictions, and stop new regulations in the transport sector — an approach that may please some. The petroleum industry, increasingly active in the vulnerable Arctic, will soon have to face the reality that it has no place in the future renewable society.
One good thing that might come out of this alignment with the EU is that Norway soon might feel a need to leave the Umbrella Group, which definitely is not good company for a model student.