companies – Sector policy objectives: The ownership should remain intact unless the sectoral-policy interests no longer apply or can be fulfilled in another satisfactory manner

CCS – Carbon Capture and Storage is a technology that can capture the CO₂ emissions produced from the use of fossil fuels in electricity generation and industrial processes, preventing the CO₂ from entering the atmosphere.

CDP – formerly the Carbon Disclosure Project, it is a not-for-profit that runs a global disclosure system with self-reported environmental data for investors, companies, cities, states and regions to manage their environmental impact.

CO₂e – Carbon Dioxide Equivalent. Each GHG differs in its ability to absorb heat in the atmosphere. Calculations of GHG emissions are presented in units of millions of metric tons of carbon equivalents (MMTCE), which weights each gas by its GWP value, or Global Warming Potential.

CSR – Corporate Social Responsibility are corporation’s initiatives to assess and take responsibility for the company’s effect on environmental and social wellbeing.

DCF – Discounted Cash Flow analysis is a valuation method used to estimate the attractiveness of an investment opportunity.

DCF analysis uses future free cash flow projections and discounts them to arrive at a present value estimate, which is used to evaluate the potential for investment.

65

EU ETS – the EU Emissions Trading System is part of the EU’s policy to address climate change and is a key tool for reducing GHG emissions through its “cap and trade” principle. It represents the world’s first and currently biggest carbon market.

GHG – abbreviated for Greenhouse Gases (CO₂e), are emissions to air that contribute to the greenhouse effect and global warming. Each GHG differs in its ability to absorb heat in the atmosphere. HFCs and PFCs are the most heat-absorbent.

Methane traps over 21 times more heat per molecule than CO₂, and nitrous oxide absorbs 270 times more heat per molecule than CO₂. Often, estimates of GHG emissions are presented in units of millions of metric tons of carbon equivalents (MMTCE), which weights each gas by its GWP value, or Global Warming Potential.

GRI – the Global Reporting Initiative is an international independent organization that helps businesses, governments and other organizations understand and communicate the impact of business on critical sustainability issues such as climate change, human rights, corruption, etc.

66

13. APPENDIX D - REFERENCES

Blackrock & Ceres. (2015). 21st Century Engagement - Investor Strategies for Incorporating ESG Considerations into Corporate Interactions.

Business Council of British Columbia. (2015). Rethinking social licence to operate - A concept in search of definition and bounda-ries. Environment and Energy Bulletin, 7(2).

Chamberlin, A. (2014, September 10). BP lost 55% shareholder value after the Deepwater Horizon incident. Retrieved from Mar-ket Realist: http://marMar-ketrealist.com/2014/09/bp-lost-55-shareholder-value-deepwater-horizon-incident/

Climate Bond Initiative. (2017). Bonds and Climate Change - The state of the market in 2016. Retrieved from Climate Bond Initia-tive: https://www.climatebonds.net/files/files/CBI%20State%20of%20the%20Market%202016%20A4.pdf

Deemer, B. R., Harrison, J. A., Li, S., & Beaulieu, J. J. (2016). Greenhouse Gas Emissions from Reservoir Water Surfaces: A New Global Synthesis. BioScience.

EIA. (2014, November 18). European residential electricity prices increasing faster than prices in United States. Retrieved from U.S. Energy Information Administration: http://www.eia.gov/todayinenergy/detail.php?id=18851

Faeraas, A. (2016, August 05). Miljødirektoratet har politianmeldt Statoil for ulovlig utslipp i Nordsjøen. Retrieved from Aftenpos-ten: http://www.aftenposten.no/okonomi/Miljodirektoratet-har-politianmeldt-Statoil-for-ulovlig-utslipp-i-Nordsjoen-601415b.

html

Fankhauser, S. (2012). A practitioner’s guide to a low carbon economy: lessons from the UK. London: Centre for Climate Change Economics and Policy.

FT. (2016, May 5). Norway: Environmental hero or hypocrite. Retrieved from Financial Times: https://www.ft.com/con-tent/6c984298-12bc-11e6-bb40-c30e3bfcf63b

Greenhouse Gas Protocol. (2017). FAQ. Retrieved from Greenhouse Gas Protocol: http://www.ghgprotocol.org/calculation-tools/

faq

Hanssen-Bauer, I. H. (2009). The Climate in Norway in 2100. Background Material for the Official Report on Adaptation to Climate Change. Oslo: The Norwegian Climate Centre.

Hertwich, E. G. (2013). Addressing Biogenic Greenhouse Gas Emissions from Hydropower in LCA. Environmental Science & Tech-nology, 9604-9611.

Holter, M. (2016, December 21). World’s Biggest Wealth Fund Excludes 15 More Coal Companies. Retrieved from Bloomberg:

https://www.bloomberg.com/news/articles/2016-12-21/world-s-biggest-wealth-fund-bans-15-more-coal-reliant-companies Hruska, J. (2013, November 27). Two years later, HDD prices settle back to normal. Retrieved from ExtremeTech: https://www.

extremetech.com/computing/171700-two-years-later-hdd-prices-settle-back-to-normal IEA. (2016). World Energy Outlook 2016. Paris: International Energy Agency.

International Institute for Sustainable Development. (2012). Subsidies or Incentives? Norway’s support for upstream oil and gas - Seminar Summary. Winnipeg: International Insitute for Sustainable Development.

IPCC. (n.d.).

Jolly, D. (2015, October 16). Norway Is a Model for Encouraging Electric Car Sales. Retrieved from NY Times: http://www.nytimes.

com/2015/10/17/business/international/norway-is-global-model-for-encouraging-sales-of-electric-cars.html?_r=0

Lambert, F. (2016, November 16). Norway keeps electric vehicle tax exemption until 2020, positions itself to stay EV leader. Re-trieved from electrek: https://electrek.co/2016/11/09/norway-keeps-electric-vehicle-tax-exemption-until-2020-positions-itself-to-stay-ev-leader/

67

Ludvigsen, J., & Klaeboe, R. (2014). Extreme Weather Impacts on Freight Railways in Europe. Oslo: Institute of Transport Econom-ics.

McGlade, C., & Etkins, P. (2015). The geographical distribution of fossil fuels unused when limiting global warming to 2C. Nature, 517.

McKinsey&Company. (2017). How companies can adapt to climate change. Retrieved from McKinsey&Company: http://www.

mckinsey.com/business-functions/sustainability-and-resource-productivity/our-insights/how-companies-can-adapt-to-climate-change

Mercer. (2015). Investing in a time of climate change. Mercer.

Miljødirektoratet. (2016, December 15). Infrastruktur og samferdsel. Retrieved from Klimatilpasning: http://www.klimatilpasning.

no/sektorer/infrastruktur-og-samferdsel/

Nordic Ecolabelling. (2015). Annual Report 2015. Retrieved from Nordic Ecolabel: http://www.nordic-ecolabel.org/CmsDocu-ments/Reports/Nordic_Ecolabeling_Annual_report_2015.pdf

Norsk elbilforening. (2016, November 30). Norwegian EV Market. Retrieved from Norsk elbilforening: http://elbil.no/english/nor-wegian-ev-market/

Norwegian Directorate for Civil Protection. (2013). National Risk Analysis 2013. Oslo: DSB.

Norwegian Government. (2017). Norway’s International Climate and Forest Initiative (NICFI). Retrieved 01 10, 2017, from https://

www.regjeringen.no/en/topics/climate-and-environment/climate/climate-and-forest-initiative/id2000712/

Norwegian Ministry of Climate and Environment. (2014 - 2015). New emission commitment for Norway for 2030 - towards joint fulfilment with the EU. Retrieved 01 10, 2017, from https://www.regjeringen.no/contentassets/07eab77cc38f4085ab-b594a87aa19f10/en-gb/pdfs/stm201420150013000engpdfs.pdf

Norwegian Ministry of Climate and Environment. (2014, January). Norway’s Sixth National Communication. Retrieved from UN-FCCC: https://unfccc.int/files/national_reports/annex_i_natcom/submitted_natcom/application/pdf/nc6_nor_resubmission.pdf Norwegian Ministry of Trade, Industry and Fisheries. (2014). Meld.St. 27 (2013-2014) Report to the Storting (white paper) - Di-verse and value-creating ownership. Oslo: Norwegian Ministry of Trade, Industry and Fisheries.

Rabobank. (2015). Increasing Demand for Sustainable Palm Oil. Retrieved from Rabobank: https://www.rabobank.com/en/press/

search/2015/20151026_sustainable_palm_oil.html

Schmitt, B. (2016, October 8). Germany’s Bundesrat Resolves End of Internal Combustion Engine. Retrieved from Forbes: http://

www.forbes.com/sites/bertelschmitt/2016/10/08/germanys-bundesrat-resolves-end-of-internal-combustion-engine/#4ec56d-6e31d9

Science Based Targets. (2016, December). Science Based Targets. Retrieved from Driving Ambitious Corporate Action: http://sci-encebasedtargets.org/sda/

Sustainability Accounting Standards Board. (2016, December). SASB. Retrieved from SASB: https://www.sasb.org/

Trucost & GreenBiz Group. (2015). State of Green Business 2015. GreenBiz Group.

VG Nyheter. (2016, 11 08). Freder elbil-moms til 2020. Retrieved from VG Nyheter: http://www.vg.no/nyheter/innenriks/elbil/

freder-elbil-moms-til-2020/a/23841731/

World Economic Forum. (2017). Top 5 Global Risks. Retrieved from World Economic Forum: http://reports.weforum.org/glob-al-risks-2017/the-matrix-of-top-5-risks-from-2007-to-2017/

68