Eurofound's EU PolicyWatch collates information on the responses of government and social partners to the COVID-19 crisis, the war in Ukraine, rising inflation, as well as gathering examples of company practices aimed at mitigating the social and economic impacts.
Factsheet for measure NO-2022-12/3234 – measures in Norway
Country |
Norway
, applies locally
|
Time period | Open ended, started on 17 March 2022 |
Context | War in Ukraine, Green Transition, European Semester |
Type | Legislations or other statutory regulations |
Category |
Supporting businesses to stay afloat
– Direct subsidies (full or partial) or damage compensation |
Author | Aasmund Arup Seip, FAFO and Eurofound |
Measure added | 08 June 2023 (updated 13 June 2023) |
In 2022, Innovation Norway Case number NO-2004-1/2547 has emphasized the need to turn more funds towards green projects. A new pilot scheme called Green Investment Grants was established. Innovation Norway expects that the project will help the country meet the environmental targets in the EU taxonomy, which is a stricter assessment of green projects than in other investment grants. The pilot project strengthens Innovation Norway's green portfolio.
The Green Investment Grants was established as a result of the war in Ukraine, with an eye to the EU plan "REpowerEU" and the "Green Deal" strategy. Green Investment Grants are aimed at industrial companies that plan to undertake major investment projects within the regional policy area. The projects must have a positive environmental impact and aim to contribute to the development of integrated and circular value chains.
The grants target industrial companies situated in municipalities mentioned in the Regulations on the Scope of Regional-Oriented Investment Support (FOR-2021-12-14-3661). They also target companies that are making investments in their own production line with the intention of producing and selling solutions that address environmental challenges. This can include the production of technology for renewable energy production, energy systems, and energy efficiency, as well as purification technology for water and air. It also includes material recycling where it is more environmentally friendly than the current waste management practices.
Requirements for receiving Green Investment Grants for a project include:
The applicant must explain the assumptions and compare them to the best available alternative. Projects prioritised qualify according to the principles of the EU taxonomy for sustainable activities. Projects that support the development of integrated and circular value chains are prioritised.
Green Investment Grants can also be used for investments in machinery, equipment, and intangible assets that enable established companies to reduce greenhouse gas emissions in their own production. This can involve the transition to circular production processes and energy efficiency measures where the investment will result in lasting change to the company's production and reduction of the company's environmental impact.
Approved costs are:
The budget for 2023 is NOK 100 million (€8.5 million), and the scheme is administered by Innovation Norway.
The budget for 2023 is NOK 100 million (€8.5 million). There is no information yet on the impact of the measure.
Workers | Businesses | Citizens |
---|---|---|
Does not apply to workers | Applies to all businesses | Does not apply to citizens |
Actors | Funding |
---|---|
National government
Local / regional government Public support service providers |
National funds
National Recovery and Resilience Facility |
Social partners' role in designing the measure and form of involvement:
Trade unions | Employers' organisations | |
---|---|---|
Role | No involvement as case not in social partner domain | No involvement as case not in social partner domain |
Form | Not applicable | Not applicable |
Social partners' role in the implementation, monitoring and assessment phase:
No involvement as case is not in social partner domain.
No known views.
Citation
Eurofound (2023), Grants for corporate transitions to holistic and circular value chains, measure NO-2022-12/3234 (measures in Norway), EU PolicyWatch, Dublin, https://static.eurofound.europa.eu/covid19db/cases/NO-2022-12_3234.html
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