Denmark, a significant exporter of dairy products and pork, will be the first nation to price carbon dioxide emissions from livestock starting in 2030. Ireland and other nations may be encouraged to follow suit, reports Breaking News.
The county in Scandinavia is going to impose an annual fee of around €100 on cattle producers for the greenhouse gas emissions from each of their cows.
Experts hired by the government originally suggested a tax in February in an effort to assist Denmark in meeting its legally-mandated 2030 goal of reducing greenhouse gas emissions by 70% from 1990 levels, reports Breaking News.
The nation’s greatest source of CO2 emissions, farming, and the centrist government came to a broad consensus on policy late on Monday with the help of business, labour unions, and environmental organisations.
After the broad consensus, political analysts anticipate a law to pass, subject to ratification by parliament.
As per the agreement, farmers will be charged 300 Danish crowns (€40) for each tonne of CO2 in 2030, with the levy rising to 750 crowns by 2035, reports Breaking News.
The real cost per tonne will begin at 120 crowns and rise to 300 crowns by 2035 due to the 60% income tax deduction for farmers. Subsidies will also be provided to assist changes in farming practices.
According to the environmental think tank Concito, a Danish cow emits six tonnes of CO2 equivalent year on average. Consequently, the reduced tax rate of 120 crowns would result in a bill of around 720 crowns, or €96.50, reports Breaking News.
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