Denmark will be the first to impose a CO2 tax on farms, the government says

Published 2024년 6월 26일

Tridge summary

Denmark is set to become the first country to introduce a tax on livestock carbon dioxide emissions from 2030, in an effort to achieve a 70% reduction in greenhouse gas emissions by 2030. The tax, which will initially be 300 Danish crowns ($43.16) per tonne of CO2, will rise to 750 crowns by 2035. Farmers will receive a 60% income tax deduction, and subsidies will be provided to aid adjustments in farm operations. The tax could result in a 2 cent increase per kilo of minced beef in 2030. The government expects the bill to pass, given the broad-based consensus reached in the agreement.

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Original content

Denmark, a major pork and dairy exporter, will introduce a tax on livestock carbon dioxide emissions from 2030, making it the first country to do so and hoping to inspire others to follow, Reuters reported, citing the government on Tuesday. A tax was first proposed in February by government-commissioned experts to help Denmark reach a legally binding 2030 target of cutting greenhouse gas emissions by 70% from 1990 levels. The centrist government late on Monday reached a wide-ranging compromise with farmers, industry, labour unions and environmental groups on policy linked to farming, the country's largest source of CO2 emissions. "We will be the first country in the world to introduce a real CO2 tax on agriculture. Other countries will be inspired by this," Taxation Minister Jeppe Bruus of the centre-left Social Democrats said in a statement on Tuesday. While subject to approval by parliament, political experts expect a bill to pass following the broad-based consensus. The deal ...

Source: The Cattle Site