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Report from the Climate Risk Commission

The Minister of Finance, Siv Jensen (Progress Party), today received the report on climate-related risk factors and their significance for the Norwegian economy from the Commission Chair, Martin Skancke, MSc (Econ).

– To understand climate risk and how it may affect the Norwegian economy is of key importance in the effort to ensure that Norwegian society is well placed to manage the implications of future climate change, says the Minister of Finance, Siv Jensen (Progress Party).

The Expert Commission was appointed on 6 October 2017 with a mandate to assess climate-related risk factors and their significance for the Norwegian economy, including financial stability.

The Commission was asked to:

  • Assess how national-level climate risk can be most effectively analysed and described.
  • Identify key global climate-related risk factors, and consider their importance for the Norwegian economy and financial stability.
  • Consider a possible methodology for giving private and public entities, including financial institutions, a technical basis for analysing and managing climate risk in the best possible way.

– I would like to extend my thanks to the Commission for its efforts, and I look forward to studying the assessments and recommendations presented in its report, says the Minister of Finance.

The Commission’s report, NOU 2018: 17; On Climate Risk and the Norwegian Economy, will shortly be circulated for consultation.

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