Tag Archives: Norwegian Government

Press Release: Norway to play leading role in international coronavirus summit

The European Commission, under its President, Ursula von der Leyen, is to hold a virtual donor conference to mobilise political and financial support for efforts to combat the coronavirus pandemic. The Coronavirus Global Response Summit will be held on 4 May, and Prime Minister Erna Solberg will be one of the co-chairs.

‘We welcome the European Commission’s initiative to hold a major international conference to mobilise support for the development of vaccines, diagnostics and treatments for COVID-19. Given our longstanding engagement in the area of global health, it is only natural for Norway to do its part when we are asked to co-chair a conference of this kind,’ Ms Solberg said.

The intention is for most of the funding that is raised to be used for the development of vaccines, the best possible treatments and rapid, wide-ranging diagnostic techniques for COVID-19. Norway will give priority to vaccine development and distribution through the Coalition for Epidemic Preparedness Innovations (CEPI) and Gavi, the Vaccine Alliance, but will also seek to mobilise international support for cooperation to develop better treatments and testing.

Norway was involved in the establishment of both CEPI and Gavi, and since the start of the COVID-19 outbreak has been working actively at the international level to secure increased funding for CEPI’s work on COVID-19 vaccines. Norway considers it vital to ensure that any vaccine that is developed is distributed fairly, including to developing countries, and that this work is carried out under the leadership of the World Health Organization.

See original press release HERE.

Bloomberg: Norway Warns Its Companies to Not Hurt Brazil’s Rainforest

Norway’s government warned companies present in Brazil against any involvement in deforestation amid escalating international criticism of the Latin-American country’s management of the Amazon rainforest.

Amid raging wildfires in the rainforest, France’s president has threatened not to approve the Mercosur trade agreement as long as Brazil doesn’t live up to commitments to tackle climate change. Norway has also found itself at odds with Brazil, as the Nordic country and Germany froze millions of dollars for a preservation fund for the Amazon because they said the agreement had been broken.

Read entire article HERE.

Bloomberg: Oil Divestment List for Norway’s $1 Trillion Fund Isn’t Final

Figuring out exactly which oil companies Norway is targeting for divestment wasn’t easy last week when the government made its historic announcement. It turns out no one knows precisely yet.

After revealing it would allow its $1 trillion wealth fund to sell out of $7.5 billion in upstream oil and gas companies, the government disseminated two separate lists of potential targets: one with 134 companies and one with 150 companies.

The lists also included many refiners and petrochemical groups and would be at odds with the decision to only exclude “upstream” companies. The government now concedes that the actual work to single out divestments remains to be done

Read entire article HERE.