News18.12.2009 11:58
Constructive climate proposal from Giske
Trond Giske wants to look into the possibility of establishing a fund with the objective of reducing greenhouse gas emissions. "This is a very positive signal from the Minister of Trade. We have been working for a number of years to put a climate fund into place that can help accelerate the climate work," says director general Per Terje Vold in the Norwegian Oil Industry Association (OLF).
In his statements, Giske refers to the good results achieved by the Industry's NOx fund, and he is willing to see whether this fund can be used as a model for a climate fund. Establishing a climate fund is also one of six items on a list of policy instruments proposed in the Industry's Climate Action Plan.
"The oil companies pay about NOK two billion per year in CO2 taxes. We have been working for a long time to ensure that this money goes directly to environmental purposes. Now is the time to exercise political will and power, so that these funds are used to reduce greenhouse gas emissions," says Vold.
Funds work
The good results from the Industry's NOx fund are among the factors that give rise to renewed optimism regarding the possibility of a climate fund. With the aim of reducing nitrogen oxide emissions, the companies pay into a fund, which in turn provides financial support for measures to reduce emissions. So far, the fund is running well ahead of schedule, and will be a crucial factor in enabling Norway to honor its commitment under the Gothenburg protocol.
"Funds work. For example, many of the measures that can be implemented in the oil industry are very expensive, without necessarily yielding significant environmental gains. But in other industries, the same money can result in major emission reductions. There is an important job to be done here, and it is logical that we spend the money where it gives the greatest benefit for the environment," says Vold.
Long-term opportunities
OLF previously asked the CICERO Centre for climate research to evaluate the climate fund proposal. CICERO's report states in part that a fund will yield opportunities on a completely different scale for long-term commitments to developing climate technology, in contrast to simply paying a tax.
"This means that we can achieve fast results while developing the technology of the future," says Vold.
Contacts:
Per Terje Vold, director general, mobile +47 916 17 726
Tom Gederø, communications manager, mobile +47 922 47 082
Norsk versjon
