Norway has set a bold new goal. By 2035, the country aims to cut greenhouse gas emissions by 70–75%, compared to 1990 levels. That sounds impressive. But can we get there?
So far, there’s no detailed roadmap. No new legislation. Just a promise.
The government plans to reduce emissions mainly at home, in partnership with the EU. But if those measures fall short, Norway will also buy carbon credits from abroad. In other words: we’ll reduce what we can and pay for the rest.
A Mixed Picture of Progress
Norway has used this model before. Norway has previously supported forest protection projects in countries like Brazil and Indonesia.
That has helped support global climate efforts and boosted Norway’s green credentials.
Jens Ulltveit-Moe, a well-known Norwegian business leader, now warns against this. He built his fortune working in oil and shipping. Today, he calls buying carbon credits a “dangerous illusion.” He says it is time to focus on real cuts here at home.
Balancing Oil, Exports, and Emissions
Oil and gas still play a central role in Norway’s economy, and in global energy supply. These sectors account for about 25% of national emissions. Technologies like carbon capture and power from shore are helping, but emissions remain significant.
At the same time, demand for fossil fuels around the world remains high. Transitioning away from them is complex and will take time. Norway faces the challenge of contributing to this shift while still meeting energy needs today.
The book “Landet som ble for rikt” explores how oil wealth brought both prosperity and inertia. Martin Bech Holte argues that when a country becomes very rich, change gets harder. That’s a dynamic we need to overcome with careful investment and smart policy.
Can We Cut Emissions at Home?
Norway’s Environment Directorate believes we can. They estimate that domestic emissions could be reduced by 63% by 2035 with the right measures, including:
- More electric ferries and low-emission transport
- Greater use of carbon capture and storage (CCS)
- A switch to green hydrogen and biomass in industry
- Phasing out fossil fuels in buildings and industrial processes
But equally important is the role of each business. Around the world, companies are making major progress, cutting unnecessary emissions through accurate carbon accounting and smart reduction strategies. Norway has the tools and tech to do the same. Today’s policies, however, would only deliver a 27% cut. The rest would need to be offset, potentially costing up to NOK 200 billion by 2030.
What’s Missing? Measurable Action
You can’t manage what you don’t measure. For many businesses there are real gains to be made by tracking emissions accurately and taking proactive steps.
That’s where Achilles can make a difference:
- Smart carbon accounting to measure, monitor, and manage emissions across operations and supply chains
- Verified, audit-ready data to back up climate targets and sustainability claims
- Automated reporting aligned with EU regulations, CSRD, and global standards
- Clear insights to identify hotspots and drive real reductions
From first measurement to meaningful action, Achilles turns carbon goals into carbon results. Because climate leadership starts with knowing your numbers and using them to make better decisions.
Norway is rich in resources, talent, and opportunity. We have the technology. We have the expertise. The next step is commitment. True climate leadership means action at home. Not just promises or offsets abroad.
So the question remains:
Will we use our wealth to lead the transition or delay it?
