Norway will raise the amount of cash spent to help developing nations protect tropical forests, which absorb carbon dioxide as they grow, to 3 billion crowns in 2013, up about 400 million from 2012, the draft budget published Monday shows.
Norway has been the most generous developed nation in helping slow deforestation under the REDD+ U.N. plan.
“The efforts in this area are yielding good results. Norway has helped achieve considerable reductions in emissions in Brazil and better forest management in Indonesia, Ethiopia, Guyana and Tanzania, among others,” the Environment Ministry said in a statement.
To finance the increase in spending on fighting climate change Norway will almost double carbon taxes on the oil industry. The budget also proposes a 50 crowns per tonne tax on emissions from the fishing industry.