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Norway to study shift from oil to tackle climate risks: minister

Norway to study shift from oil to tackle climate risks: minister
From Reuters - October 5, 2017

OSLO (Reuters) - Norway will study ways to make its economy greener and reduce dependence on oil and gas reserves that are likely to lose value amid efforts to slow climate change, Environment Minister Vidar Helgesen said on Thursday.

A government commission of experts, to be appointed in coming days, will examine the nations green competitiveness and ways to insulate western Europes biggest oil and gas exporter from financial risks linked to climate change.

Given the energy and transport revolutions, fossil energy resources will be of less value over time, Helgesen told Reuters.

The energy transition to renewables is going faster than anyone thought. And almost any scenario is being out-competed by reality, he said, adding that the commission would report back in about a years time.

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