During 2008-2012, Norway has pledged to over-fulfill its Kyoto Protocol commitment by ten percent. The Norwegian Parliament (the Storting) has authorized the Ministry of Finance (the “Ministry”) to purchase emissions credits from Clean Development Mechanism (CDM) and Joint Implementation (JI) projects to obtain emission reductions acknowledged by the Kyoto protocol.
The Ministry has so far concluded agreements with expected deliveries close to the target, but still invites you to submit offers for delivery of carbon credits. The Ministry will give priority to projects in countries where there are currently few or no registered projects.
The Ministry invites offers from projects in all stages of the investment process. The Ministrys size in the carbon market enables it to accept relatively high performance risk and still offer the prospective supplier of credits a fair market price.
Negotiations and closing of contracts are carried out continuously. Negotiations will be based on Contract templates available on this website(legg inn link). The Ministry will pay against delivery of Certified Emission Reductions (CERs) and Emission Reduction Units (ERUs). The Ministry may however, on an exceptional basis,, make advance payments to finance certain CDM-related costs.
The Ministry is authorised to enter into agreements on deliveries after 2012.
Ethical Behaviour
The Norwegian Government supports the promotion of corporate social responsibility (CSR) and this is taken into consideration when contracts are awarded by the Ministry.
Contents of the offer
To facilitate negotiations, the Ministry urges suppliers to provide as complete information as possible. Any information required to be posted in a PDD, along with documents assessing the financial and technical feasibility of the project, should be submitted if available to the seller at the time of submission.
Selection Criteria
The Ministry will select projects based on an evaluation of price and risks of the individual offers. In the selection, the Ministry will seek to balance the overall exposure of the portfolio.
The Selection Criteria are as follows:
- Price
- Delivery risk:
- Project specific CER/ERU delivery risk
- Project maturity (status of financing, approvals, etc)
- Quality of project documentation
- Contribution to overall exposure of the portfolio
- Social and environmental impact in the host country
Miscellaneous
The Ministry will not reimburse any costs or expenses in relation to the submission of offers and negotiating contracts, even if no contract is awarded.
All communication will be in English.
The Ministry of Finance’s purchase of carbon credits is governed by the Act Relating to Right of Access to Documents in the Public Administration (Freedom of Information Act). The principal rule is that documents of the public administration are in the public domain.. Exemptions can be made if it is necessary in the interest of proper execution of the financial management of the government. Information that could cause significant loss to the potential seller, if disclosed, may be treated on a confidential basis.
The Carbon Neutral Norway Folder
- A brief introduction to the Ministry of Finance Carbon Scheme
