EEA Joint Committee adopts cooperation on climate change

Icelandic Ambassador Gunnar Pálsson, Chair, and Hege Marie Hoff, EFTA Deputy Secretary-General.

Among the decisions adopted was JCD 269/2019 which extends the cooperation on climate change, by including greenhouse gas emissions and removals from land use, land use change and forestry in the EEA Agreement. By the Decision, Iceland and Norway take action to fulfil the target of reducing their greenhouse gas emissions jointly with the European Union and in accordance with the objectives of the Paris Agreement.

“I welcome today’s decision by the EEA Joint Committee. The EU, Iceland and Norway have again proven that cooperation across borders to combat climate change is not only necessary but also feasible, building on the successful cooperation for over ten years in the EU Emissions Trading System," EU Commissioner for Climate Action and energy Miguel Arias Cañete said in a statement.

Market Abuse Regulation adopted

The Joint Committee also adopted a Decision JCD 259/2019 which incorporates the Market Abuse Regulation (MAR). The Regulation aims to establish a common regulatory framework on insider dealing, the unlawful disclosure of inside information and market manipulation. Preventing market abuse is crucial in order to ensure the integrity of financial markets within the EEA. The Regulation contributes to the proper functioning of the Internal Market and constitutes yet another milestone in the reduction of financial services acts awaiting incorporation into the EEA Agreement.

In the Joint Committee meeting EEA EFTA Chair Ambassador Gunnar Pálsson of the Icelandic Mission, noted that thanks to the large number of acts incorporated in 2019, the number of outstanding acts is now at its lowest since June 2015.

The EFTA Standing Committee serves as a forum in which the EEA EFTA States consult one another, and they arrive at a common position before meeting with the EU in the EEA Joint Committee. The EEA Joint Committee is responsible for the management of the EEA Agreement.

Provisional texts of EEA Joint Committee Decisions in 2019

List of adopted Joint Committee Decisions (JCDs)

Photos from the EFTA Standing Committee and EEA Joint Committee meetings can be found here.