Over the period of 2021-2030, the EU, Iceland and Norway will intensify their cooperation on climate change, under a political agreement reached on Friday 25 October by the European Economic Area (EEA) Joint Committee.
Iceland and Norway have already been participating in the EU's Emissions Trading Scheme (ETS) since 2008. Both countries are now moving towards aligning their actions with those of the EU on reducing CO2 emissions in non-ETS sectors (agriculture, transport, buildings, waste management) and reducing emissions from land use and forestry. The Icelandic and Norwegian parliaments still need to approve this step.
"Today's agreement is an important step to deliver collectively on our respective commitments under the Paris Agreement. This agreement is the result of close collaboration between the EU, Iceland and Norway", said European Commissioner for Climate Action Miguel Arias Cañete.
Effort sharing. Iceland and Norway will commit to binding annual targets in non-ETS sectors, as EU Member States have done under the May 2018 Effort Sharing Regulation (see EUROPE 12019/10). Under this Regulation, non-ETS sectors will have to reduce their emissions by 30% between 2021 and 2030 compared to 2005.
Agriculture and forestry. Iceland and Norway will ensure that the balance between CO2 emissions and absorptions from forests, cultivated land and grasslands is achieved, according to the same accounting rules as EU Member States (the famous ‘no debit rule’), under the May 2018 Lulucf Regulation (see EUROPE 12019/11).
Both countries intend to develop a climate plan to describe existing and planned policies and measures and those anticipated at the national level to comply with both EU laws.
Work is ongoing to incorporate into the EEA Agreement the amendments to the ETS adopted by the EU for the fourth trading period (2021-2030). (Original version in French by Aminata Niang)