Norway commits $740 million to fund green growth and cut fossil fuel subsidies in developing nations.

Norway has pledged up to $740 million to support green growth in developing countries, financing renewable energy projects and eliminating fossil fuel subsidies. The initiative, dubbed the Norwegian Global Emission Reduction (NOGER), has been authorized in Norway's 2024 state budget and aims to attract private investment. Additionally, Norway will establish a $100 million fund with the Global Green Growth Institute and a $50 million collaboration with the Asian Development Bank for 2025.

November 19, 2024
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