The Danish parliament decided to introduce a new corporate carbon tax
The Danish lawmakers agreed on a new corporate carbon tax on 1 July 2022, as a way to reach the country's ambitious 2030 climate target to cut the greenhouse gas emissions by 70% from 1990 levels. The Danish government is convinced that the new green tax is an effective way to reach such target. Denmark will be the first country in Europe levying carbon tax for companies.
The new tax will target the companies both in and outside the EU’s carbon quota system. The total CO2 levy will be 1,125 Danish crowns (~ €151) per tonne by 2030 for companies subject to the EU Emissions Trading System (ETS) and will consist of a 375 crowns fee on top of the projected 2030 price of EU carbon permits of 750 crowns. However, in order to prevent an exodus of production, companies within mineralogical processes (such as cement maker Aalborg Portland, the largest CO2 emitter of Denmark) will pay a reduced price of 125 crown per tonne on top of the ETS. Furthermore, the European Commission plans to impose extra costs on polluting companies under the ETS next year, and the extra money would go to green energy and energy efficiency projects.