October 25, 2024 09:57 GMT
EMISSIONS: EC Approves €724M Danish Aid Scheme to Curb Carbon Leakage Risks
EMISSIONS
The EC has approved a €724mn Danish State aid scheme to reduce greenhouse gas tax rates for companies at risk of carbon leakage, aiming to prevent them from relocating to countries with weaker climate policies that would raise global emissions, it said.
- Companies that are subject to the EU ETS, operating in sectors listed in the EU Carbon Leakage List, and emitting CO2 through eligible production processes are eligible.
- Qualified companies will pay 33% of the standard tax rate.
- The scheme will run until 31 December 2033.
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