Denmark's 724 million euro initiative to prevent carbon leakage and reduce greenhouse emission tax for individual companies approved by the European Commission. Cost equivalent to 5.4 billion Danish kroner.
The new CO2 emissions tax, designed to provide inducement to reduce emissions, includes activities covered by the EU Emissions Trading System.
Tax rate for eligible companies operating in sectors that are required to be part of the EU Emissions Trading System and are on the carbon leakage list is 33% of the standard.
The program, aiming to reduce emissions by 70% until 2030 compared to 1990 levels, is to be implemented by December 31, 2033.
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