Farming CO2 tax

23 February 2024
2024-02-23 11:11

Three models for structuring a carbon dioxide (CO2) tax were presented by a Denmark expert group on Wednesday.

It can help Denmark achieve its goal of reducing greenhouse gas emissions by 70% by 2030. The objective is for a CO2 tax on agriculture to contribute to this goal. If the recommendations of the expert group are implemented, it will likely result in job losses in agriculture and the food industries.

Consumers may also experience the impact on prices.  In all three models, a portion or the entire tax will be returned to agriculture in the form of subsidies for initiatives that can reduce emissions. The tax is proposed to be introduced gradually from 2027, and it is based on the idea that the higher the tax, the greater the reduction in CO2 emissions.

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