Although a number of climate and energy agreements have been entered into in the parliament (Folketing) in the past year, Denmark’s overall climate policy is marked by hopeful expectations for untested technology, and significant and rapid action is needed according to report to the Folketing by the Danish Council on Climate Change (DCCC).
Despite a number of climate policy agreements between the Government and the Parliament, the DCCC does not find it likely that the Government will achieve the target of a 70% reduction of greenhouse gases by 2030. The primary reason for this is that the Government has not made a concrete plan for how to fill two thirds of the emissions reduction gap remaining after implementation of the agreements adopted. The DCCC says that the reduction measures already adopted … are low-hanging fruit, and it will become increasingly more difficult to find new tonnes for the pool of reductions
The DCCC had 5 main recommendations;
According to Politiken, the report is the first since a broad majority in the Folketing passed a climate law in June 2020. The climate law confirmed that Denmark's greenhouse gas emissions must be reduced by 70% between 1990 and 2030 - and gave the Climate Council a role as auditor. Each February, the Council must present its assessment of how things are going. The first report in the series is gloomy reading for the government, whose ministers have otherwise said several times in recent months that it is doing well to achieve the climate goal. Politiken observes that “with all that criticism, one would think that the government would go into hiding. But Climate Minister Dan Jørgensen welcomed the criticism and thanked the council for a number of good recommendations.”
Politiken also reported that both green groups and the business community supported the Climate Council's criticism. The green groups in particular had harsh words for the government, while Danish Industry reminded that competitiveness may be threatened by some of the council's proposals.
Green Hydrogen Systems, a maker of alkoline electrolysis plants that can convert electricity from wind turbines and solar cells to hydrogen, is rumoured to be on its way to an IPO before summer. According to sources, the expectation is that the company will be valued at at least DKK 5 billion. Venture fund Nordic Alpha Partners is the main shareholder, and AP Møller Holding invested €20 million last year.
Maersk Tankers has invested $19 million in the past two years and has earmarked a further $12 million in 2021 to boost ship performance and reduce emissions through the use of digital technology. Last year Maersk Tankers launched standalone business ZeroNorth, which uses algorithms that factor in market rates, future weather conditions, and bunker prices to guide operators on the optimal route and speed for their vessel. So far, 1,500 vessels are using ZeroNorth’s Optimise platform including Maersk Tankers, commodities trader Cargill - another investor in the venture - and Danish shipping group UltraBulk.
Nilar, a maker of Nickel Metal Hydride batteries, based in Stockholm will be the official battery supplier to Sweden's pavilion during Expo 2020 (postponed to October 2021) in Dubai. Nilar will present an energy storage system installed in Sweden's pavilion, which will be located in the area of sustainability. Expo 2020 will be the single largest investment in exports and investment promotion for the Swedish government.
The Nordic countries are some of the most dynamic and successful economies in the world. They are also leaders in sustainability, from renewable energy, biofuels, carbon capture and storage and the hydrogen economy, circular economy business models and battery development, the Nordics are pioneers in policy design, technology development and consumer uptake. Mundus Nordic Green News is covering this transition for the international community. Every day we clip the stories of most relevance to international businesspeople and policy experts from the flow of news. We supplement these with our own opinion pieces and commentary, in English.