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Korsbakken, C. Le Quéré, and A. Peregon (2019). It is based on the analyses: Data and figures: http://www.globalcarbonproject.org/carbonbudget The world is still far from seeing the aggressive emission reductions necessary to be in line with the “well below 2°C” global warming limit set out by the Paris Agreement to avoid the worst impacts of climate change.

The Scandinavian nation has a binding Kyoto target to reduce GHG emissions 16% below 1990 levels by 2020, but its annual output has barely changed in the past six years at around 53 million tonnes, leaving it off course towards meeting its goal.

OSLO, Oct 8 (Reuters) - Norway expects to sell 46.8 million carbon dioxide emission permits - known as EU Allowances (EUAs) - in 2019, after reaching a deal to join Europe’s common auction platform, the government said in its fiscal budget on Monday.

The 2016 budget increase could be a sign that the government will break its pledge to meet two-thirds of its required Kyoto goal domestically, meaning Norway would need to double the number of CERs it had aimed to buy, according to Oslo-based carbon market analyst Stig Schjolset of Thomson Reuters.

(2019) Global Carbon Budget 2019. By 2022, Norway could realize every step in the development of a technology many see as critical to reducing global carbon emissions, carbon capture and storage (CCS), it said on Monday. CCS is designed to extract harmful emissions from hard-to-decarbonise heavy industry such as steel and cement production and store it in secure rock formations far under the sea bed. “Compared to coal, natural gas is a cleaner fossil fuel, but unabated natural gas merely cooks the planet more slowly than coal,” said Peters.


Emissions in 2019 are more than 60 percent higher than in 1990 when the first IPCC report was published. The recent growth in low-carbon technologies (solar, wind, electric vehicles) have, at best, only slowed the growth in global fossil fuel emissions. The idea of a global “carbon budget”—the cumulative amount of “allowable” carbon emissions to meet a global temperature target—has become established as a central concept in climate science and policy. Indian emissions look set to slow down to 1.8 percent (range: +0.7 percent to +3.7 percent) in 2019. Meanwhile, electric car owners will have to pay an additional tax, although other significant benefits for electric car ownership remain.

The Norwegian state plans to cover about 80% of the costs, with the industry paying the rest, if a project is approved in the 2021 state budget, the oil and energy ministry said.

“This year’s Carbon Budget underscores the need for more definitive climate action from all sectors of society, from national and local governments to the private sector,” said Amy Luers, Future Earth’s Executive Director.

The three countries haven’t auctioned any allowances accumulated over 2013-2018 so far.

See here for a complete list of exchanges and delays.

Canadell, P. Friedlingstein, R.B. “Despite political rhetoric and rapid growth in low carbon technologies such as solar and wind power, electric vehicles, and batteries, global fossil carbon dioxide emissions are likely to be more than four percent higher in 2019 than in 2015 when the Paris Agreement was adopted.”.


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