Denmark to Introduce €100 Per Cow Carbon Tax on Agriculture from 2030

Jun 26, 2024, 02:32 AM

Denmark is set to introduce one of the world’s first carbon taxes on agriculture, targeting emissions from livestock such as cows, sheep, and pigs. The tax, which will be implemented from 2030, aims to help the country achieve its 2030 climate target of reducing total emissions by 70%. Farmers will be charged €100 per cow annually for the greenhouse gas emissions produced. Additionally, farmers will pay 120 Danish krone (€16) per ton of emitted CO2 equivalent, rising to 300 krone (€40) from 2035. The Novo Nordisk Foundation will finance $1.4 billion of the plan. This pioneering move has received backing from key industry and environmental groups, and Denmark hopes it will inspire other countries to follow suit. The tax specifically targets methane emissions, one of the most potent gases contributing to global warming.