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Denmark pushes for stronger climate finance goals at COP29

Economy Materials 20 November 2024 10:46 (UTC +04:00)
Denmark pushes for stronger climate finance goals at COP29
Maryana Ahmadova
Maryana Ahmadova
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BAKU, Azerbaijan, November 20. Denmark is committed to reducing greenhouse gas emissions by 70% by 2030, said Lars Aagaard Møller, Minister of Climate, Energy, and Utilities as he addressed the COP29 summit, Trend reports.

Møller emphasized the progress Denmark has made and the challenges still ahead in achieving this ambitious target.

“When we set the target, it seemed almost impossible,” said Møller. “We started with the low-hanging fruits—renewable energy, wind, solar, biomethane, rapid expansion of e-mobility, energy efficiency, and CCS. These tools, mostly in the energy sector, can only take us so far.” He explained that Denmark's energy sector progress has been substantial, but the nation still faces a critical challenge in reducing emissions from agriculture, a sector that has proven more difficult to address.

In a significant step forward, Møller described a groundbreaking collaboration that took place this summer. A diverse coalition, including farmers, trade unions, employers, a national nature conservation NGO, and the government, reached a historic agreement despite their often conflicting interests. “This summer, something amazing happened in Denmark,” Møller remarked. “We came together with farmers, trade unions, employers, and nature conservationists to agree on the biggest restructuring of the Danish landscape in recent times.”

To further reduce emissions from agriculture, Denmark has introduced a pioneering climate tax on the sector, making it the first country in the world to do so. “In order to walk the last mile toward the 70% reduction target, we had to break new ground,” he stated. “We’ve done this with the world’s first climate tax on agriculture, which will help us cut the necessary emissions while focusing on jobs and affordable food.”

With strong support from a broad coalition in Denmark's parliament, the country has now reached a political agreement that sets the foundation for implementing these climate measures. “We found a way, but we know it's not as easy as it sounds,” Møller acknowledged. “One of the biggest challenges to climate action is polarization. We must take people's concerns seriously.”

He also highlighted the importance of international cooperation, specifically calling for a new, ambitious, and achievable goal for climate finance. “Finance is key to building trust between countries,” Møller said. “We need a new goal on climate finance that paves the way for new NDCs and more climate action.”

Looking ahead, Møller emphasized the critical role of the upcoming round of Nationally Determined Contributions (NDCs) and urged the G20 to take the lead in driving more ambitious climate commitments. “The next round of NDCs is crucial, and we count on the G20 to take the lead,” he concluded.

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