Norway’s opportunities via the Sovereign Wealth Fund and the European Green Deal

Abstract

ABSTRACT Norway has a stable economy, a vibrant private sector, the highest living standards in the world, a robust labour market, moderate inflation, and low public debt. Its economy relies much on oil, apparently contradicting the ambitious pro-green policies Norway adopts to face the environmental challenges of this century. Norway administers its huge oil revenues through its Sovereign Wealth Fund (SWF) and invests them in its citizens’ welfare. The State is a crucial actor in Norway’s dynamic economy, but private companies play a role as well. The country remains a crucial actor within the European sphere and, together with the EU, it shares the European Green Deal’s (EGD) ecological standards, which might work as both an inspiration and an opportunity for Norway.