12 Oct '12, 7pm

Here’s something that could only happen in Scandinavia: Norway to double carbon tax on oil industry.

Norway is to double carbon tax on its North Sea oil industry and set up a £1bn [$1.6 billion] fund to help combat the damaging impacts of climate change in the developing world. … one of the most radical climate programmes yet by an oil-producing nation … Norway will also plough an extra £1bn into its funds for climate change mitigation, renewable energy, food security in developing countries and conversion to low-carbon energy sources, Environmental Finance reported . It will step up spending on new projects to combat deforestation in developing countries … The Oslo government is also to spend £69m [$111 million] on buying carbon credits in 2013 , to help offset its emissions, force through new building regulations to make all new homes carbon-neutral by 2015 and increase efforts to heavily cut emissions from cars, switching to electric vehicles.

Full article: http://grist.org/news/norway-to-double-carbon-tax-on-oil-...

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