The EU Taxonomy sets out four main conditions for an economic activity to qualify as environmentally sustainable. One of these conditions is that the activity complies with technical screening criteria established by the European Commission.
To promote sustainability and green growth, the Norwegian government and certain private organizations are granting subsidies to companies who can document an eco-friendly way of doing business.
The European Union recently passed new regulations on sustainable finance. As a result of the new regulations, companies in all industries are forced to be more sustainable in order to obtain financial funding. It is expected that the regulations will be implemented in Norwegian law during the first half of 2021. The implementation will be of great importance for companies operating in Norway.