Climate change is both our greatest challenge and a big opportunity. Ten Norwegian companies have come together to show that we can reach the goal of a 40% reduction in greenhouse emissions by 2030 and at the same time create value without new subsidies. Umoe have, along with DNV GL, Hydro, KONGSBERG, Posten/Bring, Ruter, Sparebank1, Statkraft, Statnett and Storebrand, taken the lead in this shift. Norway is a country with great natural resources and expertise, not only when it comes to oil. To ensure we are able to compete in the 21st century the project aims to find concrete sustainable solutions with potential profit. The project has support from important organisations such as WWF, Xynteo and Zero. "We believe that the conditions are in place for Norway to make the green shift and take a leading role on the way to the low-carbon society. There is no time to waste, and the report shows what we can achieve in important areas if the authorities and business sector pull in the same direction", says Jens Ulltveit-Moe.
See the reactions from the Prime Minister and the Minister of Climate and Environment (In NORWEGIAN)
Background to the report
On 20 October, Prime Minister Erna Solberg and Minister of Climate and Environment Tine Sundtoft will receive the report «Norway 203040 – Business opportunities». The title refers to the goal of a 40% reduction in greenhouse emissions by 2030. It points to concrete examples of how we can exploit our advantages, in terms of both natural and societal resources, for green business. Looking towards 2030, the project identifies emission-free transport, high-tech industries and bioeconomy as especially promising sectors.
READ THE FULL REPORT HERE (PdF) In order to succeed the project offers five recommendations to inspire and spark debate: • The transport sector is today responsible for one-third of our total emissions, a number that should be reduced to zero by 2030. This can be achieved through electrification, by putting in place smart and progressive regulations and tax policies. • With our great hydroelectric resources, advanced technology and skilled work force, we should build high-tech industries in sectors that are likely to be central to the low-carbon economy. Norway has the potential to compete and become a country that attracts high-tech companies. • Bioeconomy has great growth potential in Norway, and we as nation should seize the opportunity to take a leading position in specific areas. It implies producing nutriments, biological fuel and bioproducts from renewable biological resources. These resources are found within fisheries, agriculture and forestry, where we have solid expertise and infrastructure. Systematic funding for research and predictable regulations must be in place to ensure sustainable administration of our biological resources. • The finance sector should systematically allocate resources to investment objects that are well positioned for the green shift. By directing capital towards the low-carbon sector, risk is reduced and profits are safer and more viable in the long-term, while the climate risk is distributed through insurance. • Public purchasing and acquisition should encourage development of green infrastructure projects, solutions and businesses. This can be achieved through strict and consequent restrictions on emissions in public tenders. The report will be launched at Storebrand's offices in Lysaker on Tuesday at 12 p.m. with the Norwegian Prime Minister and Minister of Climate and Environment both present. At the same time as the report is launched, it will also become available on the home pages of Storebrand and the other partners.