EU-Norwegian Green Alliance
The European Union and Norway have announced the establishment of the Green Alliance, aimed at strengthening cooperation in climate action, environmental protection, clean energy, and industrial transition, ensuring the successful implementation of the Paris Agreement and the agreement reached at COP15.
This green alliance is based on the European Green Deal released by the European Union, which is the most comprehensive form of bilateral participation. The two sides said they would reduce emissions by 55% in 2030 (based on 1990) and achieve carbon neutrality in 2050. In addition, both sides will also serve as participants in climate financing to support climate and environmental policies of developing countries and emerging markets.
Content of the Green Alliance
The European Union and Norway have stated that in order to address the three types of crises: climate, biodiversity, and pollution, they need to take joint action to accelerate the transition to a just, environmentally friendly, and climate neutral economy. Both parties have reached cooperation in some areas, such as:
- Climate change. Both sides recognize the importance of carbon pricing in promoting economic growth and reducing emissions, and the EU Emissions Trading System (ETS) will serve as the cornerstone of climate policy to strengthen the net zero transition. Both sides plan to continue developing carbon capture and carbon storage technologies, and strengthen infrastructure construction to promote decarbonization in the industrial sector.
- Environmental protection. Both sides believe that there is a close relationship between climate change and biodiversity. In response to the biodiversity framework proposed by COP15, both sides have decided to ensure the sustainable production of raw materials and commodities, and adopt digitalization and advanced technology to encourage the development of circular economy. In addition, both parties will establish new waste treatment standards to improve air, water, and soil resources. In terms of ocean management, both sides will cooperate to establish sustainable ocean space plans to ensure ocean cleanliness and health.
- Green industrial transition. Both sides believe that the transition of green industries is crucial for achieving climate goals, and the sustainability of raw materials and the supply of green technologies can enhance the competitiveness of the economy. The two sides plan to establish a sustainable raw material cooperation relationship and strengthen cooperation in other green industry fields.
- Clean energy transition. Both sides will promote the production and use of hydrogen energy and offshore renewable energy, in order to strengthen the energy partnership. They plan to establish a mature European hydrogen energy market to create a favorable environment for trade, investment, and research. Both sides are also preparing to develop offshore wind and floating wind, leading the deployment of offshore renewable energy in a sustainable manner.
- Sustainable finance. Both parties plan to improve the disclosure situation of listed companies, provide assistance for investment decision-making, and agree to jointly promote sustainable financial development and reduce costs for enterprises and investors.
- Green mobile. Both sides plan to achieve a net zero shipping fleet and collaborate with the private sector to develop green transportation.
- Research and education. Both parties plan to promote cooperation on environmental data policies and green statistical data.
Comments on the Green Alliance
The EU has previously established a similar green alliance with Japan, and this is the first time the EU has established a green alliance with a European country. Both sides have made positive comments on this.
The European Union and Norway will jointly promote the goal of climate neutrality and resist the impact of climate change through decarbonization efforts in the energy system. The European Green Agreement will support the Green Alliance’s continued cooperation on climate issues.
European Union
Norway and the European Union have begun to strengthen cooperation and establish a green alliance. The focus of cooperation is on sustainable energy and emerging technologies, which is crucial for accelerating green transition. We will promote climate neutral growth and energy security, support emissions reduction, and create new job opportunities.
Norway
Reference:
European Green Deal: New EU-Norway Green Alliance
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