Source– This post on Carbon tax in Denmark has been created based on the article “Flatulent cows and pigs will face a carbon tax in Denmark, a world first” published in “The Hindu” on 26 June 2024.
Why in the news?
Denmark will impose a tax on livestock farmers for the greenhouse gases emitted by their cows, sheep, and pigs.
About Carbon tax in Denmark
1. Denmark is planning to implement a carbon tax from 2030. Farmers in Denmark will have to pay a tax for the greenhouse gases their cows, sheep, and pigs emit.
2. This is a first-of-its-kind initiative aimed at cutting methane emissions which is a powerful greenhouse gas that traps much more heat than carbon dioxide.
3. Denmark wants to reduce its greenhouse gas emissions by 70% from 1990 levels by 2030. Farmers will be taxed 300 kroner ($43) per ton of carbon dioxide equivalent in 2030.
4. This tax will rise to 750 kroner ($108) by 2035. However, farmers will get an income tax deduction, so the real cost will start at 120 kroner ($17.3) per ton in 2030, increasing to 300 kroner by 2035.
5. Methane levels have been rising quickly since 2020, with livestock responsible for about 32% of human-caused methane emissions.
6. Denmark aims to become climate neutral by 2045 and hopes other countries will follow its example.
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