The proposal will help to keep Norway’s traditional manufacturing industry afloat and discourage companies from fleeing to countries with less strict climate regulation. The government estimates the scheme will cost about 500 million Norwegian kroner ($86.5 million) a year from next July, but that could rise to several billion kroner if the cost of carbon emissions permits increases. CO2 emissions permit prices were trading at around €7.8 a metric ton midday Tuesday.
Source: The Wall Street Journal
Published: November 9, 2012