Norwegian budget goes for broke on carbon credits

Environment and climate funding up in 2008 budget tabled by government on Friday

Norway's government tabled its budget for 2008 on Friday.  Finance Minister Kristin Halvorsen described it as "a very good environmental budget".  The plans includes NKr24.6bn (€3.2bn) for climate and environment policies, up NKr 3.3bn from 2007, the environment ministry said.

The spending plan features NKr4.1bn (€535 million) to be used over five years to buy carbon credits offsetting domestic greenhouse gas emissions.  An additional NKr3.9bn is earmarked for emission reduction projects abroad linked to prime minister Jens Stoltenberg's pledge earlier this year to make Norway "carbon neutral" by 2050 (EED 20/04/07).

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