Finland promotes the introduction and use of technical CO2 sinks, where CO2 is captured directly from industrial chimneys, for example, through several measures. Several projects are currently under way to promote the capture and use of CO2, especially biogenic carbon.
Finland’s soil is unsuitable for the permanent storage of CO2. Meanwhile, Norway has more than 28 years of experience in safe and permanent storage of CO2.
The Norwegian Government continues to develop storage opportunities on the Norwegian continental shelf and enable commercial storage of CO2 as a service and as a market opportunity for emission sources.
"Promoting solutions for CO2 capture is one of the key themes of the Government’s climate policy. The Memorandum of Understanding with Norway is an important step for Finland towards the large-scale implementation of carbon capture and cross-border storage solutions," said Finnish Minister of Climate and the Environment Sari Multala.
The MoU complements existing international agreements that create the legal framework for cross-border transport of CO2 for permanent storage. This important milestone reflects the shared commitment of Finland and Norway to achieving the climate targets through innovative and collaborative solutions.
"Norway is committed to developing safe CO2 storage solutions to our European partners. This MoU with Finland strengthens our shared efforts to reach climate goals and supports the development of a commercial market for CO2 storage," said Norwegian State Secretary Astrid Bergmål.