On 17th June, Norway and Switzerland signed a groundbreaking bilateral agreement aimed at enhancing international cooperation in the field of carbon capture and storage (CCS) and carbon dioxide removal (CDR) under Article 6 of the Paris Agreement. The initiative enables the cross-border transport and permanent geological storage of CO2 between the two countries, as well as the transfer of mitigation outcomes under Article 6 of the Paris Agreement. This agreement demonstrates the commitment of Norway and Switzerland to the advancement of CCS and CDR solutions to meet their net-zero targets.

Background and Significance

The bilateral agreement was signed in the framework of the Longship Launch Event in Oslo and builds on the Declaration of intent signed by Norway and Switzerland in May 2024. This marks a crucial step towards the creation of a sustainable commercial market for CCS and CDR in the region. The agreement is a significant development in the field of carbon capture and storage, as it lays the conditions for cross-border cooperation and knowledge sharing.

Implementation and Next Steps

As a result of the initiative, a coalition of companies has already announced pilot activities under the bilateral agreement. This indicates a strong interest from the private sector in exploring CCS and CDR solutions, and is expected to drive further innovation and investment in the field.

International Cooperation

The agreement between Norway and Switzerland highlights the importance of international cooperation in addressing climate change. By working together, countries can share knowledge, expertise, and resources to develop effective solutions for reducing carbon emissions. The signing of this agreement is a positive step towards achieving net-zero targets and creating a more sustainable future. The bilateral agreement is an important development in the global effort to reduce carbon emissions, with Norway and Switzerland leading the way in international cooperation on CCS and CDR.

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