Climate compensation that contributes to the goals of the Paris Agreement

The project "Nordic dialogue on climate compensation" aims to bring together Nordic stakeholders to produce a knowledge base on how climate compensation can be implemented in a way that makes a significant contribution to the goals of the Paris Agreement. The dialogue will result in a proposal for best practice.

Climate compensation is used by companies and countries as strategies to more quickly achieve net zero emissions or even negative greenhouse gas emissions. All Nordic countries have defined timed net zero targets and more and more Nordic companies, cities and regions are doing the same.

The climate compensation market will undergo major changes that have to do with the Paris Agreement taking over after the Kyoto Protocol. At the same time, there is a lack of international review and coordination and transparency is in many cases limited.

The dialogue will contribute to:

• A common knowledge base on key issues and concepts that are central to climate compensation.
• A synthesis of relevant national and international guidelines on climate compensation.
• A compilation that explains key concepts and concepts.
• Recommendations for a Nordic best practice for climate compensation that is compatible with the goals of the Paris Agreement. Partly to limit the global temperature rise to below 2 degrees by a margin, partly to help direct financial flows to investments that are compatible with the required adjustment.