Finland and Norway deepen climate cooperation with cross-border carbon storage deal

illuminem summarises for you the essential news of the day. Read the full piece on Carbon Herald or enjoy below:

🗞️ Driving the news: Finland and Norway have signed a Memorandum of Understanding (MoU) enabling cross-border transport of captured CO₂ for permanent storage, deepening climate cooperation between the two countries
• CO₂ captured in Finland can now be transported to Norway for geological storage beneath the seabed
• The deal supports both nations’ climate strategies: Finland invests in carbon capture technology, while Norway offers decades of CO₂ storage experience

🔭 The context: Finland lacks suitable geological sites for long-term CO₂ storage, whereas Norway has over 28 years of expertise and is expanding capacity on the continental shelf
• The MoU builds on ongoing carbon capture projects in Finland, particularly targeting biogenic emissions
• Norway aims to become a key European hub for commercial CO₂ storage, and the agreement aligns with broader international frameworks for cross-border carbon transport

🌍 Why it matters for the planet: Cross-border CCS partnerships could accelerate the deployment of large-scale carbon capture, helping both countries reduce net emissions
• Regional cooperation demonstrates how technology and shared infrastructure can complement national climate targets
• Scaling up CCS is critical for meeting Northern Europe’s climate goals while managing industrial emissions

⏭️ What's next: Finland can leverage Norway’s storage capacity to expand its carbon capture efforts and contribute to a larger European CCS market
• Both countries aim to strengthen technological collaboration and commercial opportunities for CO₂ storage
• The MoU sets a precedent for future cross-border partnerships in climate mitigation

💬 One quote: “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.” – Sari Multala, Finnish Minister of Climate and the Environment

📈 One stat: 28 years — Norway’s experience in CO₂ storage, making it a leading provider of geological storage capacity in Europe

Explore carbon credit purchases, total emissions, and climate targets of thousands of companies on Data Hub™ — the first platform designed to help sustainability providers generate sales leads!

Click for more news covering the latest on public governance and carbon