The Norwegian government has revealed plans to implement its own Carbon Border Adjustment Mechanism (CBAM) by 2027. The Ministry of Climate and Environment and the Norwegian Environment Agency will collaborate on the development of the scheme.
The aim of the proposed CBAM is to protect the competitiveness of European industries by preventing them from relocating to countries with weaker environmental regulations.
Andreas Bjelland Eriksen, Norway's Minister of Climate and Environment, emphasized that the CBAM will ensure equal pricing for emissions associated with the production of goods, whether they are produced in Norway, the EU, or imported from other nations. Meanwhile, Jens Stoltenberg, the Minister of Finance, highlighted that the CBAM would help maintain domestic industry competitiveness while encouraging other countries to reduce emissions.
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