Norsk Hydro: Industry and Norwegian government agree on the CO2 compensation scheme
NORSK HYDRO A S ADS (NHYDY)
NASDAQ:AMEX Investor Relations:
hydro.com/en/investor-relations
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Source: GlobeNewswire
The Norwegian government, industry associations and trade unions have reached an agreement on the future of the Norwegian CO2 compensation scheme, valid from 2024 until 2030. “The CO2 compensation scheme is essential for maintaining competitive frame conditions for industries in Norway. This agreement will provide predictability, while accelerating decarbonization and green investments,” says President and CEO, Hilde Merete Aasheim. The agreement between the Norwegian government, Norsk Industri, Industri Energi & Forbundet for ledelse og teknikk, Fellesforbundet, LO, and NHO is valid from 2024 until 2030. It includes an annual maximum CO2 compensation for eligible industries of NOK 7 billion. The CO2 quota price floor that was introduced in 2022, and further increased for 2023, will be fully removed. The compensation cap will be subject to inflation adjustment. The revised CO2 compensation scheme includes a commitment for the industries to implement emission reduction and energy ef
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