A greener industrial initiative for Norway

The Norwegian Government’s Green Industrial Initiative will guide Norway’s economy through its greatest transition in modern times. Prime Minister Jonas Gahr Støre, Minister of Trade and Industry Jan Christian Vestre, and Minister of Agriculture and Food Geir Pollestad today launched a new roadmap for the Green Industrial Initiative. The roadmap shows how the Government will speed up Norway’s green transition.

The Green Industrial Initiative will boost Norwegian exports and contribute to Norway cutting its climate emissions in half by 2030. The “roadmap 2.0” contains nine priority sectors and almost 150 measures for value creation across green industries.

'We have to create, and we have to share. Norway has world-leading businesses, which will be essential for the most comprehensive economic transition in Norway’s modern history. Today, we are speeding up our Green Industrial Initiative. We will strengthen our cooperation with close trading partners and reinforce measures to solve our common climate challenges. The war in Ukraine, shifting geopolitics, and an increased demand for green energy form the backdrop for the updated roadmap for our Green Industrial Initiative,’ said Prime Minister Jonas Gahr Støre.

The Government’s historic industrial policy has been given the name “the Green Industrial Initiative”. It was launched in June 2022, with an initial roadmap highlighting seven priority sectors for green growth: offshore wind, hydrogen, batteries, maritime industry, CO2 management, bioeconomy, and the process industry. Now, the Government is adding two more priority sectors: manufacturing and solar industry.

‘The green transition is happening right now. We want to see results, and we have already completed or begun 96 of the 100 measures we launched last year. We have strengthened international partnerships with the EU, Germany, and the US. We have announced plans for the first offshore wind farms in Norwegian waters. We have mobilised record figures for private investments in green industrial projects in Norway. Now, we are intensifying our work. That is why we are adding almost 50 new measures, ‘ said Minster of Trade and Industry Jan Christian Vestre.

‘The forest and timber industry, and other bioeconomic sectors, have great potential for growth and jobs across Norway. Replacing fossil carbons with bioresources will be an important part of the green transition. It will create new opportunities for primary industries – for instance in sustainable feed, where biomass can help to make Norway more self-reliant, cut climate emissions, and improve food production. The updated Green Industrial Initiative contains a range of measures for developing the bioeconomy alongside primary industries, and other parts of the economy,’ said Minister of Agriculture and Food Geir Pollestad.

Historic push for the green transition

Norway has a unique set of favourable conditions for creating profitable and green jobs – including abundant natural resources, industrial experience, digital literacy, a skilled workforce, and the Norwegian model for an organised working life. Central elements of the initiative include access to renewable energy, infrastructure, technology, and capital.

‘The business sector is going through the greatest economic transition in modern history. The Government is on the side of business and will help them to seize the opportunities in the green transition. Private capital will lead the way, and the Government will offer its support, which will speed up green industrial projects. We are today announcing a historic push for green industries,’ Minister of Trade and Industry Jan Christian Vestre.

Nine priority sectors and almost 150 measures

The updated roadmap adds two new priority sectors to the Green Industrial Initiative: manufacturing and solar industry.

The solar power market is growing rapidly. Solar power will be essential for completing the energy transition in Norway, Europe, and the rest of the world. Norway has long been a pioneer in developing solar power. Today, Norway has a unique position in European solar industry.

In manufacturing, Norway has several leading business clusters and companies at the forefront of using new technology to produce goods, components, and equipment. Strengthening the Norwegian manufacturing industry will be a central part of building new, green value chains and creating new, green jobs.

‘Manufacturing and solar industries are two sectors in which Norwegian companies have a huge chance to succeed in international markets. The Government wants to make that happen. Our objective is to create value and jobs across Norway, increase green investments, boost mainland exports, and cut climate emissions, on the road to a net-zero society,’ said Minister of Trade and Industry Jan Christian Vestre.

The updated roadmap contains almost 50 new measures, strengthening government efforts in several areas. Norway has signed the Montreal biodiversity agreement, and green industrial developments will need to limit their impact on the local environment. The Government wants more efficient use of energy, and it will publish a comprehensive action plan for the energy efficiency across the economy. The Government has created a long-term plan for offshore wind developments in Norway, since access to renewable energy at a competitive price is a significant factor in investment decisions in green industries.

‘Norway has a long and proud industrial history. We are continuing that history today, by building new, green industry on the shoulders of industrial giants. We have devised the Green Industrial Initiative in close cooperation with business leaders, employee organisations, and academia. Together, we have a shared goal of increased value creation and more green jobs in all of Norway, said Prime Minister Jonas Gahr Støre.