Waking the Norwegian green giant
As one of the world's leading exporters of natural gas, Norway faces a unique challenge in a world that is increasingly moving away from fossil fuels. The country has all the financial, technological, and human resources it needs to thrive in a decarbonized future; what's missing is policy leadership
11 May 2021 |
Mariana Mazzucato and Rainer Kattel
Responding to the climate emergency is a challenge for everyone, but particularly for countries that are economically reliant on petroleum extraction or production. Decarbonization has created an opportunity for many countries to pursue a green industrial revolution. But as more countries embrace this route to future prosperity, the value of fossil fuel assets, technologies, and capabilities will diminish, threatening jobs, export revenues, and industrial innovation in petroleum-dominated economies.