Check against delivery

Ten years ago, the Paris Agreement united the world in a shared vision to limit global warming and safeguard our planet. Today, amid worrying signs of a warmer climate, let us ask the question: Where would we have been without? What do we expect from our negotiators as they go to work over the weekend?

The results are clear. The Paris Agreement is working. The NDCs delivered so far this year is estimated to take us from 4 degrees projected temperature rise before Paris – to under 2.5 degrees. In Belém, we recognize the achievements of the Paris Agreement.

Yet, limiting global warming to 1.5 degrees requires us to scale up and accelerate our efforts. To do so we must continue to deliver ambitious NDCs and create the best possible conditions to implement them. 

Norway is stepping up its efforts. Our 1.5 aligned NDC for 2035 is to reduce emissions by at least 70-75 per cent by 2035, compared to 1990.  

For Norway, we plan to implement our NDCs in cooperation with the EU, and through ambitious domestic measures. We are now progressing along timelines for phasing out the use of fossil fuels in key sectors towards 2050. This is enabled by policies such as a gradual increase in the carbon tax towards 2035. – Then there are achievements to build on. Let me dwell on one example:

In 2015 the market share of electric vehicles (EVs) in Norway reached 20 %. Today, 10 years later, nearly all new cars sold in Norway is electric. For road transport, we already see the pathway to zero-emissions.

I also believe this has paved the way for zero emission options for road transport beyond Norway. Through our EV journey we have been the global testing ground for zero emission vehicles, and importantly, the infrastructure needed to power them,

This is significant in itself. – But this is also paving the way for more general electrification throughout the economy – to new transport sectors, onshore and offshore, to industries and households. Now, this is good. And it adds momentum to the need for producing more renewable energy, modernization of both grids and storage capacity, and more effective use of electric power.

Belém must unleash opportunities and build-down barriers for all by strengthening the toolbox that enables us to deliver. Like yesterday’s launch of the TFFF. Another part of that toolbox is climate finance.

Friends,

A year ago, we agreed on a new milestone for climate finance. In Belém we must demonstrate that we are custodians of this resolve. 

Norway will continue to do our part. Norway is delivering on our pledges (from Glasgow) to double our climate finance by 2026 to 14 billion Norwegian kroner (approximately 1,37 billion USD). We have overachieved. Last year, our climate finance reached 18,7 billion Norwegian kroner (approximately 1,8 billion USD).

Scaling up finance from all sources and mobilize private investments is pivotal. Already, Brazil has shown the way by launching the Tropical Forest Forever Facility (TFFF).

As I announced yesterday, Norway’s conditional investment (in the TFFF) will be up to 3 billion US dollars, provided that 10 billion US dollars is mobilized for the facility by the end of 2026, and that our share of the sponsor capital does not exceed 20 %.

At this COP we must unite around a clear message: We stand united in our committed to ambition and actions as the only way forward to ensure a sustainable future for our generation, our children and grandchildren.  

Thank you.