The Norwegian parliament has approved a plan to accelerate greenhouse gas (GHG) emissions cuts and CO2 offsetting, in the aim of turning Norway into a climate-neutral country by 2030.
As crude oil and gas production is not expected to be phased out in a near future (the start of a new oil field contributed to a 1.5% increase in GHG emission in 2015), Norway will offset its carbon emission through international carbon trading (investments in CO2-cutting projects abroad, such as energy efficiency projects or reforestation); this may cost up to NOK 20bn/year (€3.2bn/year) in 2030. Earlier in June 2016, the parliament approved a zero-deforestation bill, making Norway the first country to ban public procurement contributing to rainforest destruction.
The Nordic country had already set a target of being climate neutral by 2030 in 2008 but the target was postponed to 2050 after the failure of the Copenhagen summit; the climate deal reached in Paris revived the 2030 target.
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