Editor's note: Guo Bowei is an associate professor at the School of Applied Economics at Renmin University of China. Jin Ye is a graduate student at the School of Applied Economics at Renmin University of China. The article reflects the authors' opinions and not necessarily the views of CGTN.

2024 marks the 70th anniversary of the establishment of diplomatic relations between China and Norway, a key milestone for both nations. At this critical juncture, as the world continues to prioritize combating climate change and advancing sustainable development, there are significant opportunities for China-Norway cooperation in the green transition. This article explores the potential for expanded cooperation between the two countries in areas such as clean energy technologies, ecological preservation, and the commercialization of green industries, all aimed at fostering economic benefits and driving global green growth.

Climate and environmental cooperation have long been central pillars of China-Norway relations, demonstrating shared commitments to global climate governance and sustainable development goals. Since the signing of a Memorandum of Understanding in 1995, the two nations have engaged in nearly three decades of collaboration on issues such as climate change, biodiversity, and the management of hazardous chemicals. Norway has played a pivotal role in supporting China's efforts to establish a nationwide carbon emissions trading system, which has helped implement carbon pricing mechanisms in line with the Paris Agreement. Additionally, Norway has provided financial and technical assistance to the China Council for International Cooperation on Environment and Development, with key figures such as former Norwegian Minister of Climate Vidar Helgesen and former director of the Norwegian Polar Institute Jan Gunnar Winther serving as members of the council.

This collaboration benefits not only China and Norway but also contributes to a global green economy by leveraging the strengths of both nations. Norway, a global leader in green technology, brings advanced expertise in areas such as renewable energy and environmental protection. China, as the world's largest clean energy market, continues to push forward major reforms in renewable energy, ecological protection, and green finance. China's resilient economic performance and open-market policies provide a fertile ground for international cooperation and investment. As China strives to achieve its dual carbon goals of peaking carbon emissions by 2030 and reaching carbon neutrality by 2060, there is vast potential for green cooperation with Norway, offering tremendous commercial opportunities for both sides.

On one hand, Norway's renewable energy industries, such as hydrogen energy and offshore wind power, are poised to make a significant impact in China. The robust demand for clean energy in China, combined with supportive policies, offers unparalleled opportunities for Norwegian companies. This favorable business environment opens possibilities for Norwegian leaders in clean energy technologies, such as offshore wind power, hydrogen production and storage, and carbon capture and storage, to establish a strong foothold in China's expansive market. Furthermore, by localizing their technologies and reducing costs through cooperation with Chinese companies, Norwegian firms can enhance their competitiveness and expand their global market share. In 2019, China Power International Holding and Equinor signed an agreement to co-develop offshore wind power projects in China and Europe. In 2021, Equinor partnered with CIMC Raffles to advance offshore wind and low-carbon renewable energy projects in Yantai, China's Shandong Province.

On the other hand, China's green transition has also made Norway a key entry point for Chinese electric vehicle (EV) manufacturers into the European market. Norway is a global frontrunner in EV adoption and is on track to become the first country to phase out gasoline and diesel-powered cars by 2025. According to the Norwegian Road Federation, electric vehicles accounted for a record 82.4 percent of new car sales in 2023, largely driven by robust government incentives, comprehensive charging infrastructure, and abundant, low-cost hydropower. Norway has become a natural first destination for Chinese EV brands entering Europe. Since 2020, leading Chinese automakers, including SAIC, XPeng, NIO, BYD, Hongqi, and Voyah, have made their vehicles available in Norway, marking the beginning of their European expansion. By 2023, more than 10 Chinese EV brands sold over 100,000 units in Norway, accounting for nearly 15 percent of the country's total EV sales.

Looking ahead, China and Norway can deepen their cooperation through enhanced policy dialogue and technological exchanges, expanding the breadth and depth of their industrial collaboration. This partnership could serve as a model for mutually beneficial green development between China and other countries. As a key example of China-Europe climate cooperation, the China-Norway partnership signals broader possibilities for the future. The European Union's Green Deal aligns closely with China's dual carbon goals and green development philosophy. By strengthening collaboration, China and Europe can leverage complementary technologies and markets to drive global green growth. This cooperation will also contribute to more effective global climate governance, enhancing the efficiency of international negotiations on climate change and paving the way for a sustainable future for humanity.

Through concerted efforts in clean energy, environmental protection, and green industry development, China and Norway stand ready to forge a prosperous and sustainable future together – one that not only benefits their own economies but also supports the global transition to a greener, more sustainable world.