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Thursday, November 21, 2024

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Tag: GHGs

Denmark to impose greenhouse gas taxes on livestock farmers COPENHAGEN, Denmark: Starting in 2030, Denmark plans to levy taxes on livestock farmers for the greenhouse gases produced by their cows, sheep, and pigs. This initiative aims to address methane emissions, a potent contributor to global warming. The aim is to reduce Danish greenhouse gas emissions by 70 per cent from 1990 levels by 2030, stated by Taxation Minister of Denmark, Jeppe Bruus. By 2030, Danish livestock farmers will face a tax of 300 kroner ($43) per ton of carbon dioxide equivalent. This tax will escalate to 750 kroner ($108) by 2035. With an income tax deduction of 60 per cent, the effective cost per ton will begin at 120 kroner ($17.3) and rise to 300 kroner by 2035. Although carbon dioxide typically gets more attention for its role in climate change, methane traps about 87 times more heat on a 20-year timescale, according to the U.S. National Oceanic and Atmospheric Administration. Levels of methane, which is emitted from sources including landfills, oil and natural gas systems and livestock, have increased particularly quickly since 2020. Livestock account for about 32 per cent of human-caused methane emission. New Zealand had passed a similar law but the legislation was removed from the statute book after hefty criticism from farmers and a change of government at the 2023 election from a center-left ruling bloc to a center-right one.

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July 4, 2024

Denmark to impose greenhouse gas taxes on livestock farmers

COPENHAGEN, Denmark: Starting in 2030, Denmark plans to levy taxes on livestock farmers for the…

July 4, 2024

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