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Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

Denmark to Impose First Tax on C02 Emissions from Farms


Thu 27 Jun 2024 | 02:44 AM
Taarek Refaat

Denmark announced that it will be the first country to impose a tax on carbon dioxide emissions from farms by 2030.

The tax was first proposed last February by experts commissioned by the government to help Denmark reach a legally binding target for 2030, to reduce greenhouse gas emissions by 70% from 1990 levels.

According to the proposed law, a tax will be imposed on farmers of 300 Danish kroner, or $43, per ton of carbon dioxide in 2030, rising to 750 kroner by 2035.

Farmers will be entitled to a 60% income tax deduction, meaning the actual cost per ton will start at 120 kroner and rise to 300 kroner by 2035.