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EMISSIONS: Denmark To Support CO2-Intensive Firms in Green Transition

EMISSIONS
CEEMEAEnergy BulletsDenmarkBulletPower BulletsCommodities

The Danish Energy Agency announced to give financial support for CO2-intensive companies that are most affected by the upcoming CO2 tax, it said. 

  • The fund includes DKK 36mn (€4.8mn) in 2025 and a total of DKK 1bn (€134mn) until 2030 to support CO2 intensive companies with financial assistance for the green transition of production.
  • Denmark will phase in a CO2 tax on fuels from 2025, with the tax rate at DKK 750 (€100) per ton CO2e for the companies that are not covered by the EU ETS, and DKK 375 (€50.3) for the companies that are covered under the scheme.
  • The aim of the fund is to reduce the companies’ consumption of fossil fuels.
  • The government will only subsidies to companies that have emitted at least 1,500 tons CO2e annually on average, and whose tax payments increase by at least 2.3% due to the CO2 tax.
  • The fund's grant is DKK 500 (€67) per ton CO2e saved and covers 20-60% of eligible costs. Companies can apply for grants of between DKK 10,000 (€1340) and DKK 112mn (€15mn).
  • Companies within general processing, mineralogical processes, oil refining, inland shipping and offshore activities in the North Sea can apply for support if they meet the criteria.
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The Danish Energy Agency announced to give financial support for CO2-intensive companies that are most affected by the upcoming CO2 tax, it said. 

  • The fund includes DKK 36mn (€4.8mn) in 2025 and a total of DKK 1bn (€134mn) until 2030 to support CO2 intensive companies with financial assistance for the green transition of production.
  • Denmark will phase in a CO2 tax on fuels from 2025, with the tax rate at DKK 750 (€100) per ton CO2e for the companies that are not covered by the EU ETS, and DKK 375 (€50.3) for the companies that are covered under the scheme.
  • The aim of the fund is to reduce the companies’ consumption of fossil fuels.
  • The government will only subsidies to companies that have emitted at least 1,500 tons CO2e annually on average, and whose tax payments increase by at least 2.3% due to the CO2 tax.
  • The fund's grant is DKK 500 (€67) per ton CO2e saved and covers 20-60% of eligible costs. Companies can apply for grants of between DKK 10,000 (€1340) and DKK 112mn (€15mn).
  • Companies within general processing, mineralogical processes, oil refining, inland shipping and offshore activities in the North Sea can apply for support if they meet the criteria.