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The Norwegian National Budget for 2019 is a solid start for Nysnø Climate Investments

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The Norwegian Government has allocated MNOK 400 to Nysnø Climate Investments in the National Budget for 2019. This is twice as much as was allocated last year and provides a solid start on the way to fulfilling the fund’s long-term ambitions.

– 400 MNOK in the National Budget for 2019 gives us a solid start. We except a gradual increase of the assets under management. That will enable us to make profitable investments that contribute to reducing climate gas emissions, creating positive ripple effects in society and accelerating the green transition, says Siri Kalvig, CEO of Nysnø Climate Investments.

Nysnø is on the lookout for companies with the smartest solutions to the challenges of climate change. Investments will be made over time and together with private investors. Norwegian authorities have committed to cutting greenhouse gas emissions in Norway by at least 40 percent by 2030, compared to the emission levels in 1990.

– Since this summer, Nysnø’s management team and investment team are now up and running. With a doubling in allocations and these corner stones in place, we can begin the important work of reducing greenhouse gas emissions in cooperation with others, says Kalvig.

Fornybar AS was founded 20.12.2017 by the Norwegian Ministry of Trade, Industry and Fisheries. The company’s investment mandate is described in the Norwegian National Budget for 2018.