Norway joins 40-signatory partnership to end international public finance for fossil fuels

(Oil Change International, Washington, 2 December 2023) Norwegian Prime Minister Jonas Gahr Støre  announced today that Norway has joined the Clean Energy Transition Partnership (CETP, sometimes called the Glasgow Statement) at the UN COP28 climate summit in Dubai. Boost for CETP which now boasts 40 signatories (including US, Canada, and many EU countries), shifting billions per year out of fossil fuels to clean energy. Norway – as a major oil & gas producing nation – boosts the initiative by joining, building momentum at the OECD level to create new rules to end international fossil finance across the OECD. This move from Norway bolsters an international campaign to adopt new rules at the OECD (the group of the world’s wealthiest countries) to end export finance support for fossil fuels. OECD countries supported fossil fuel exports by an average of USD 41 billion from 2018 to 2020, almost five times more than clean energy exports. The EU, Canada, and UK have tabled a proposal to end this finance. Having signed onto the CETP, Norway is now expected to deliver on the CETP’s commitment to “driving multilateral commitments in international bodiesby aligning with the UK, EU, and Canada in the push for oil and gas restrictions at the OECD.