COPENHAGEN (DENMARK) – Denmark’s prime minister on Tuesday pledged to spend $1.58 billion (£1.22 billion) on new climate initiatives, while responding to calls from business leaders and politicians, who urged for quicker action towards cutting greenhouse gas emissions.
The Danish government has said cutting emissions by 70% in 10 years is feasible, however, depending on technologies, which requires years to become commercially viable has been a stumbling block.
Prime Minister Mette Frederiksen talked highly about her government’s plans for making targeted investment in new technologies such as carbon capture, green hydrogen, sustainable farming and plastic recycling.
Frederiksen told parliament, said, “Denmark must be a showcase for the world. But no one will follow us if our path is expensive, unmanageable and socially unjust.”
The government proposed taking 10 billion Danish crowns ($1.58 billion) from the EU’s Recovery Fund and from a coronavirus “war chest” announced in August and vowed to make investments in new technologies until 2025.
On the other hand, on Tuesday, 139 Danish business leaders, scientists and politicians, including Chief Executive Henrik Poulsen of energy group Orsted, together appealed for a more ambitious climate plan.
The government has launched initiatives to cut emissions by around 25% of the targeted reduction until 2030.