The Clean Energy Transition Partnership (CETP) Secretariat and UK government convened a productive all-day workshop on implementation of Norway’s CETP policy development in April, following the confirmation of Norway as a new signatory of the CETP at COP28. Officials from inside and outside government convened at the residence of the British Ambassador in Oslo to discuss the critical role of Export Credit Agencies and public financing in accelerating the energy transition, followed by an evening reception joined by members of civil society.
All CETP signatories are required to publish a CETP-aligned policy on how they will shift international public finance away from fossil fuels, and scale up support for the clean energy transition within a year of signing up, and are encouraged to publicly set out how they will implement this commitment. The workshop intended to support Norway in this policy development process by discussing examples of leadership from across the CETP signatory group (a summary of some G7 country policies here), with UK government sharing specific learnings from their own implementation of the policy. Early analysis has already shown how the CETP commitment successfully shifted $5.7 billion per year out of fossil fuels and into clean energy before the end-of-2022 deadline, and the workshop highlighted Norway’s potential and commitment to accelerate this further and increase the availability of financing for clean energy.
The CETP Secretariat will continue to support Norway in its implementation of a CETP-aligned policy by the end of the year, in addition to our other new signatory, Australia.