Danish carbon taxes will apply to cows, pigs, and sheep

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Danish carbon taxes will apply to cows, pigs, and sheep, Danish authorities plan to implement the world’s first carbon tax on livestock in the year 2030 in order to reduce the emissions of greenhouse gases that each sheep, pig, and cow releases into the atmosphere every day.

Depending on how the proposed scheme is structured, farmers would need to pay about $43 apiece for every metric tonne of carbon dioxide equivalent produced by the cattle they own. It has been reported that by the year 2035, this rate will be close to $108.

According to the Danish government’s proposal, the levies will be partially offset by a 60% tax deduction, which means that by 2030, and in 2035, the levies will be closer to $17 per metric tonne, and $43 by 2035.

A tax cut, according to the government, is expected to reduce the country’s carbon dioxide emissions by about 1.8 million metric tonnes (approximately 2 million tonnes) by 2030 due to the reduction in tax rates.

Jeppe Bruus, a Danish Finance Minister, said in a press conference that this will be the first time anywhere in the world that you will be able to introduce a real [carbon dioxide equivalent tax] on agriculture. We hope that we may serve as an example for other countries as well.”

This agreement demonstrates how much we can accomplish when we come together across party lines and interests to find joint solutions to one of the greatest challenges of our time by coming together across the lines of political parties and interests.

This proposed tax will make a significant contribution to the green transition of the industry as the money earned will be re-invested into the industry.

Timenews1 provided that news.

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