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Carbon Neutral Norway

Ministry of Finance Carbon Scheme

[Campaign, Ministry of Finance, 12.09.2007]

Acting through the Ministry of Finance the Norwegian Government will acquire quotas through the flexible mechanisms of the Kyoto Protocol. As Norway will be a member of the European Trading Scheme Norway also plans to sell part of the allocation in the open market. This web site is targeted at institutions with a potential interest in doing business with the Norwegian Ministry of Finance in the emission markets.

The Ministry of Finance is authorized by the Storting (Parliament) to contract delivery of carbon credits (Certified Emission Reductions, CER, and Emission Reduction Units, ERU) from the Clean Development Mechanism, CDM, and Joint Implementation, JI. The combined authorization and appropriation

Sustainable development

[Subject, Ministry of Finance, 16.06.2006]

The World Commission on Environment and Development described sustainable development as development that meets the needs of the present without compromising the ability of future generations to meet their own needs. To achieve such development, ecological and economic policy considerations must be integrated. The responsibility for coordinating Norway’s work on sustainable development thus lies with the Minister of Finance.

...for a sustainable development. How industrialized countries like Norway best can contribute in meeting these challenges should...

The Government Pension Fund

[Subject, Ministry of Finance, 16.06.2006]

Large petroleum revenues have resulted in substantial financial assets in the Government Pension Fund. The purpose of the Government Pension Fund is to facilitate government savings necessary to meet the rapid rise in public pension expenditures in the coming years, and to support a long-term management of petroleum revenues.

...the Petroleum Fund, and "The Government Pension Fund Norway", which was previously known as the National Insurance...The operational management of the Government Pension Fund Norway is delegated to the National Insurance Scheme Fund...

The National Budget

[Subject, Ministry of Finance, 16.06.2006]

For information in English about Norway's National Budget, please visit the Norwegian National Budget Web Portal .

Economic Policy

[Subject, Ministry of Finance, 16.06.2006]

The Ministry of Finance and numerous associated institutions report on the condition of the Norwegian economy. On this page you can find some of the most important sources of information about the subject.

...Policy Department monitors and analyses economic trends in Norway and abroad.

Norway’s support for Iceland remains firm

[News story, Ministry of Finance, 04.02.2010]

The Norwegian news site ABC Nyheter today reports that the Norwegian government has “changed its mind” about supporting Iceland in the current situation. This is not correct. – Norway will honour its commitments to Iceland through the loans that have been made available, says Finance Minister Sigbjørn Johnsen.

...in the current situation. This is not correct. – Norway will honour its commitments to Iceland through the...

Report No. 2 (2007-2008) to the Storting

The Revised National Budget 2008

[Report to the Storting, Ministry of Finance, 15.05.2008]

Norway is a diverse industrial society with a free market economy and generally low trade barriers. A significant share of the Norwegian economy consists of service industries, including wholesale and retail trade, banking, insurance, engineering, transport and communications and public services.

Report No. 2 to the Storting (2007-2008) The Revised National Budget 2008 Recommendation of 15 May 2008 from the Ministry of Finance, approved by the Council of State on the same date. (the Stoltenberg II Government) The document in PDF format (1,2 Mb) 1 Hovedtrekkene i den økonomiske politikken

Norway and Bermuda join forces to combat international tax evasion

[News story, Ministry of Finance, 16.04.2009]

Norway today concludes a tax information exchange agreement with Bermuda. The agreement will enable the Norwegian and Bermudian tax authorities to exchange tax information for the purposes of preventing international tax evasion.

Norway today concludes a tax information exchange agreement with...exchange of information in the tax area. Moreover, Norway and Bermuda have also signed an agreement for...

Norway endorses the Santiago principles

[Press release, Ministry of Finance, 13.10.2008]

Norway supports the Generally Accepted Principles and Practices (GAPP) for Sovereign Wealth Funds which have now been made public.

Norway supports the Generally Accepted Principles and Practices (GAPP...Group of Sovereign Wealth Funds is available here . Norway’s endorsement of the Santiago principles is not...

Perspectives on the role of the Office of the Auditor General of Norway

[Speech/article, Ministry of Finance, 16.09.2008]

The Secretary General Tore Eriksen delivered a lecture today on the Ministy's perspective on the Office of the Auditor General of Norway. He addressed a meeting at an International Week at the Office of the Auditor General of Norway hosting delegates from five cooperating countries.

...on the Office of the Auditor General of Norway. He addressed a meeting at an International Week at the Office of the Auditor General of Norway hosting delegates from five cooperating countries. Read more...

Norway is looking to buy credits from the Clean Development Mechanism

[News story, Ministry of Finance, 19.09.2007]

On behalf of the Kingdom of Norway, the Ministry of Finance is announcing its first tender for credits from Clean Development Mechanism (CDM) and Joint Implementation (JI) projects to obtain emission reductions eligible under the Kyoto Protocol.

On behalf of the Kingdom of Norway, the Ministry of Finance (MoF) is announcing its...into a purchase agreement with the Kingdom of Norway, a project promoter will enjoy the benefit of...

Norway’s position in the debate on Sovereign Wealth Funds

[Editorial article, Ministry of Finance, 31.10.2007]

The international debate has revealed some scepticism towards Sovereign Wealth Funds (SWF). Norway’s Government Pension Fund – Global is a tool to manage our petroleum wealth wisely and avoid the “resource curse”. From this it follows that the Fund is large and that it is invested overseas. A sensible management of oil-producing countries’ petroleum wealth in well-functioning financial markets is in everyone’s interest.

...measures to address these concerns. More background information Norway’s Government Pension Fund – Global is a tool...public support and trust in the management of Norway’s sovereign wealth. Furthermore, openness about the fund...

IMF and Norway

[Editorial article, Ministry of Finance, 17.01.2007]

The International Monetary Fund (IMF) usually undertakes Article IV consultations with Norway every year.

...Fund (IMF) usually undertakes Article IV consultations with Norway every year. Among the documents prepared are a...

General information about Norway and the Norwegian Economy 2007

[News story, Ministry of Finance, 29.06.2007]

This is an annual report by the Ministry of Finance containing general information about the Kingdom of Norway and the Norwegian economy 2007.

This is an annual report by the Ministry of Finance containing general information about the Kingdom of Norway and the Norwegian economy 2007. Read the report here (in pdf-format)

General information about the Kingdom of Norway and the Norwegian Economy 2007

[Report, Ministry of Finance, 29.06.2007]

This is an annual report by the Ministry of Finance containing general information about the Kingdom of Norway and the Norwegian economy 2007.

This is an annual report by the Ministry of Finance containing general information about the Kingdom of Norway and the Norwegian economy 2007. Read the report here (in pdf-format)

The history of green taxes in Norway

[Editorial article, Ministry of Finance, 03.01.2006]

Norway has a long experience with environmental taxation. Taxes have been introduced to reduce environmentally harmful emissions to air and water, and to reduce the amount of waste generated.

The history of green taxes in Norway Norway has a long experience with environmental taxation. Taxes...an instrument in environmental policy. Already in 1931 Norway introduced a petrol tax. The first tax that...

OECD Economic Surveys: Norway

[News story, Ministry of Finance, 08.03.2004]

Every eighteen months the OECD presents a survey of the Norwegian economy. This survey is based on the Secretariat’s study prepared for the annual review of Norway by the Economic and Development Review Committee.The OECD will publish its latest Economic Survey of Norway, including a special study on boosting competition, on Monday 8 March 2004.

OECD Economic Surveys: Norway Every eighteen months the OECD presents a survey...s study prepared for the annual review of Norway by the Economic and Development Review Committee. The...OECD will publish its latest Economic Survey of Norway, including a special study on boosting competition, on...

Summary of EUA Allowance Sales for Kingdom of Norway

[Editorial article, Ministry of Finance, 23.10.2009]

Following a public procurement process Barclays Capital (“Barclays”) has been awarded the mandate to conduct the sale in 2009. The Ministry of Finance has an option to make further sales through Barclays in the 2010 – 2012 period.

...18 May and ending on 13 November 2009, Norway will sell regular volumes of EUAs, on a...Summary of EUA Allowance Sales for Kingdom of Norway

Norway offers to make financial resources available to the IMF

[Press release, Ministry of Finance, 28.03.2009]

The Norwegian Minister of Finance Kristin Halvorsen Friday sent a letter to the Managing Director of the International Monetary Fund (IMF) offering to make additional financial resources available to the Fund.

...the Fund. The letter also contains information on Norway's positions regarding the upcoming G20-meeting. "Balance...with adequate lending capacity. It is natural for Norway, who has considerable international reserves, to contribute toto this end," says finance minister Kristin Halvorsen. "Norway's offer has a scope of up to...

Norway presents new measures for industry and households

[Press release, Ministry of Finance, 08.02.2009]

The Government proposes to establish two new funds with a total capital of NOK 100 billion. The funds will ease the access to loans for companies and households, and contribute to stabilise the financial market", says Norwegian Prime Minister Jens Stoltenberg.

...effects of the finance crisis on market economy. "Norway has already done much to improve the situation...and Communication Liv Signe Navarsete says. Norges Bank (Norway's central bank) has repeatedly reduced the interest...4 per cent of the GNP for mainland Norway. On 12 October 2008 the Government presented a...