Norway Proposes CO2 Tax Hike To Increase Climate Mitigation Funds

Yale Environment 360: Norway has announced plans to nearly double its carbon tax on the nation's offshore petroleum sector to create a £1 billion fund to help combat the effects of climate change, including in developing nations. In a draft budget released this week, government officials proposed a climate program that would increase the tax on oil companies from about £24 per ton of carbon dioxide to £45 (Nkr410) per ton. The plan would allocate about £1 billion (Nkr10 billion) to promote green energy initiatives, reduce...

URL: http://e360.yale.edu/digest/norway_proposes_co2_tax_hike__to_increase_climate_mitigation_funds/3660/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+YaleEnvironment360+%28Yale+Environment+360%29