More ambitious targets Sample Clauses

More ambitious targets. Norway is the only country in the world that has made a political pledge to achieve carbon neutrality, undertaking to reduce global greenhouse gas emissions by the equivalent of 100% of its own emissions by 2050 at the latest. The parties agree that if an ambitious global climate agreement is achieved in which other developed countries also take on extensive obligations, Norway will undertake to achieve carbon neutrality by 2030 at the latest. This means that Norway would have to reduce emissions by the equivalent of 100% of its own emissions by 2030. The parties agree that early action to prevent global warming is much more effective than action at a later stage. The parties therefore consider it important to gain support for rapid implementation of measures to tackle climate change. As part of its efforts to meet its commitment under the Kyoto Protocol, Norway will fund emission reduction measures in other countries, mainly developing countries. The parties agree that Norway will voluntarily strengthen its Kyoto commitment by 10 percentage points. Funding to achieve this will be used for emission reduction measures in other countries, mainly developing countries. Given the current price of emission allowances, this will mean funding of about NOK 5 billion in the course of the first Kyoto commitment period. In addition, funding is being allocated over the 2008 development cooperation budget for climate-related measures in developing countries in areas that are not included in the Kyoto Protocol. Using the current price of emission allowances and assuming that allocations are maintained at the 2008 level, these allocations will total NOK 7-8 billion over the first Kyoto commitment period. Norway is also seeking to encourage other countries to set ambitious climate goals. The parties agree that Norway should play a leading role in negotiations towards a more ambitious climate agreement, using as a starting point the aim of limiting the average rise in global temperature to no more than 2°C above the pre-industrial level. The rich countries must take a considerably larger share of the responsibility for emission reductions, because the path out of poverty for developing countries will involve an increase in their energy use. To achieve credibility as a leading player in these efforts, Norway will have to reduce its own emissions, take part in the development of technology and help to demonstrate that economic growth can be decoupled from growth in greenhouse...