Virtually all energy majors have 2050 as target date for carbon neutrality. Most focus solely on Scope I and II emissions. Ørsted and Equinor have the highest ambitions and most stringent targets. Repsol, Eni, Shell, TotalEnergies and BP are following suit.

Following a historic vote in parliament on December 15th 2020, the Norwegian Government announced its funding decision for the ‘Northern Lights’ CO2 transport and storage project. The project aims to create a carbon capture and storage hub in Norway, open to third parties. It will be the first ever cross-border, open-source CO2 transport and storage infrastructure network and offers European industrial emitters the opportunity to store their CO2 safely and permanently underground.