Denmark proposes corporate carbon tax to meet climate target – Reuters.com

Register now totally free unrestricted access to Reuters.com
Register

A pilot plant for CO2 capture is seen at Amager Bakke in Copenhagen, Denmark June 24, 2021. Ritzau Scanpix/Ida Guldbaek Arentsen via REUTERS

Reporting by Jacob Gronholt-Pedersen and Nikolaj Skydsgaard; Editing by Bernadette Baum.
Our Standards: The Thomson Reuters Trust Principles.

COPENHAGEN, April 20 (Reuters) – Denmarks government on Wednesday proposed introducing an uniform carbon tax for companies as a way to reach the countrys ambitious climate target.
The suggested carbon tax of 1,125 Danish crowns ($ 164.21) per tonne of carbon dioxide equivalent would cut carbon emissions by 3.7 million tonnes each year by 2030, the government said.
The tax, which includes a forecasted 2030 price of EU carbon permits of 750 Danish crowns per tonne, would be troubled heavy markets and the energy sector, it stated.

Register now free of charge endless access to Reuters.com.
Register.

Register now totally free endless access to Reuters.com
Register

For smaller sized business that are not part of the EU emissions trading system, the federal government proposed a tax of 750 crowns per tonne.
” This effort is meant to ensure that the business that affect the environment pay for their own emissions,” Tax Minister Jeppe Bruus said.
The federal government likewise proposed spending 7 billion crowns to help companies with the green shift, therefore reducing the danger that they emigrate to prevent the carbon tax, Bruus said.
The proposition would provide a minimized tax rate for cement and stone wool markets, which include Denmarks greatest polluter, cement producer Aalborg Portland.
The measure could assist Denmark, among the most affluent countries on the planet, to attain its 2030 target of cutting greenhouse gas emissions by 70% from 1990 levels, or around 20 million tonnes of CO2 equivalent.
($ 1 = 6.8508 Danish crowns).