Denmark has set aside 4bn Danish kroner ($630mn) annually for 15 years from 2034 in order to reach its climate goals, climate minister Lars Aagaard said today.
The government has set the country's greenhouse gas (GHG) emissions reduction target for 2035 — a cut of 82pc from 1990 levels, which Aagaard announced at the UN Cop 30 climate summit in November. Denmark aims to reach net zero emissions by 2045, and negative emissions beyond that.
The government has since the end of November negotiated with all parties in parliament on the new 2035 climate goal, it said today.
The target is set, although there was not "common ground to be able to make a broad agreement", Aagaard said today.
"The door is still open for co-operation," he said. "I also think that there is a possibility of raising the target at a later date if the conditions change."
The government has prioritised the "necessary financing" to hit climate goals, Aagaard said.
"Everyday life must not become unnecessarily expensive for Danes and Danish companies," he said. "We are in a different place than we were in 2019, when the last target was set."
Denmark's 2035 goal is one of the most ambitious in the world. It is similar to fellow northwest European oil and gas producer the UK, which has set a goal of 81pc GHG cuts over 1990-2035.
