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Climate agreement for energy and industry (CCUS)

Source: IEA/IRENA Renewables Policies Database
Last updated: 4 November 2022

Energy Agreements support Denmark’s long-term goal of becoming a carbon neutral society by 2050, a goal first set in 2011 in the Energy Strategy 2050. Energy Agreements successfully helped creating a climate of trust for investors in clean energy and public acceptability to support the consumer prices of such energy.

In 2020, Denmark released a Climate Agreement for Energy and Industry which is focused on the following areas: renewable energy, CCUS, industry, energy efficiency, heating, transport, and tax reform. 

For CCUS, the agreement starts in 2024 and provides a market based subsidy pool for the purchase and storage of CO2. It is valued at over DKK 800 million annually by 2030. These funds will reduce emissions of CO2 equivalents by 0.9 tonnes in 2030 and will support the development and implementation of CCUS solutions .

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