Business / DT 19 / 2009
Labour takes back Finance Ministry, attacks tax havens commission
The Norwegian Ministry of Finance slams a recent influential report on the role of tax havens, accusing it of expanding its work beyond its mandate. Parts of the report are based on “misunderstandings and lack of knowledge”.
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Swedfund will invest less next year despite huge pipeline
The aid-financed risk capital fund Swedfund has the biggest pipeline ever, but has had to cut back on investments next year due to lack of funds. The government injected a record-high SEK 600 million in new capital into the fund this year, but almost the entire amount has been committed to new projects.
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New carbon capture fund. Norway explores revision of aid eligibility rules
Norway announces a commitment of NOK 35 million in aid to a newly-established World Bank fund on carbon capture and storage. CCS and REDD are keys in the Norwegian climate strategy.
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Sweden ponders moving into REDD forest carbon financing
Sweden has so far not provided funds to REDD forest carbon initiatives. But with SEK 1.3 billion in the Swedish climate aid package still unallocated, part of this will likely go to REDD projects in the near future.
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Ten worst tax havens
As part of its new tax haven policy, Norway has placed a ban on the use of tax havens by the Norwegian aid-financed risk capital fund Norfund.
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Wins sustainability prize for SMEs
The Swedish aid-financed risk capital fund Swedfund has been awarded a prize for best sustainability report for 2008.
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