Mundus Nordic Green News – 27 November, 2020

Norway doubles tropical forest price guarantees

Norway is doubling the price it guarantees developing nations to keep their tropical forests standing from $5 to $10/tCO2. To qualify, nations will have to adopt the country’s ART accounting and monitoring system for forests, as first done by Gabon in 2019. The hope is that compliance tracked by satellites and on-the-ground inspections will make big companies confident enough to invest $10 per tonne or more, allowing Norway to stand aside and act mostly as a backstop.

 

Sweden builds on circular economy strategy

The Swedish Government has given the Environmental Protection Agency two new assignments that will contribute to Sweden's transition to a circular economy. The assignments are partly about proposing measures to increase plastic recycling, and partly about better environmentally and resource-efficient management of biowaste. The EPA has been asked to report back in Autumn 2021.

 

Norway gives municipalities NOK 56 million to develop clean speedboats

Traditional speedboats consume large amounts of fossil fuels. Emissions from high-speed boats are approximately four times greater per passenger kilometer than aircraft. Troms and Finnmark county municipalities, together with Vestland, Nordland and Trøndelag, have been allocated NOK 55.9 million from the Norwegian Environment Agency to develop the environmentally friendly speedboats of the future. During 2021, the county municipalities will announce a tender competition to the supplier industry for the development of emission-free vessel design. The tender will be technology-neutral, and it has not been decided whether the fast boat of the future will run on hydrogen power or battery operation.

 

Cadels lists on Oslo  Bors

Danish offshore wind company, Cadeler, which provides installation, operation and maintenance services to the offshore wind industry has listed on the Oslo Stock Exchange. Cadeler raised NOK 1.36 billion in a share issue, and now has  a market value of NOK 2.73 billion.

 

So far this year, 45 new companies have listed on the Oslo Stock Exchange. Nearly one in three of this year's newcomers is a green share. The stream of new companies, together with a sharp rise in prices, has sent green shares up, with the market value of the green listed shares more than doubling since the New Year to NOK 238 billion, and now accounts for 8.5% of the total market value of all listed shares. 

 

Norway’s Havyard to list cleantech subsidiaries

Havyard Group ASA, which operates a shipyard in Leirvik, is considering spinning off subsidiaries into a separate group, and then listing the new group on the stock exchange. Havyard writes that a spin-off of Havyard Design & Solutions, Norwegian Electric System, Norwegian Greentech and Havyard Hydrogen will put them in a good position to take a leading role in the maritime green shift, and they refer to the new group as a "maritime cleantech" group. Havyard, which will continue as the majority owner of the new company, has set itself the Euronext Growth exchange as a target for the new group

 

Sweden’s Deputy PM participates in Indian industry climate change seminar

Sweden’s Minister of the Environment and Climate, Isabella Lövin participated in the Strategic Forum India together with India's Minister of the Environment, Forestry and Climate Prakash Javadekar on the theme 5 years after the Paris Agreement and the heavy industry's climate change.

 

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