COPENHAGEN, Sept. 20 (Xinhua) -- The Danish government and the majority of political parties in Parliament (Folketing) have reached a political agreement that will allow for the capture and underground storage of at least 34 million tonnes of carbon dioxide (CO2), according to a press release issued by the Ministry of Climate, Energy and Utilities on Wednesday.
Climate, Energy and Utilities Minister Lars Aagaard said that "it is absolutely crucial for the fulfillment of both our and Europe's climate goals that we get CO2 capture and storage (CCS) up on a full scale in Denmark."
The parties have agreed to fast-track the "pace and scope" of Denmark's 2030 climate goals by "removing obstacles and creating clarity" for the establishment of pipes, transport and the development of permanent underground CO2 storage facilities "as early as 2029," the press release said.
The project will require two rounds of tenders totaling 26.8 billion Danish kroner (3.85 billion U.S. dollars), with a minimum reduction of 34 million tonnes of CO2 over a 15-year period.
The pact also plans to introduce a law on the transport of CO2, to ensure "clear and uniform rules" for its transport via pipes and opening doors for both government and private players.
Denmark has ensured bold climate action by enacting the 2020 Climate Act, which establishes a target of reducing the country's greenhouse gas emissions by 70 percent by 2030 compared to 1990 levels, and a long-term goal of climate neutrality by 2050 at the latest. (1 Danish Krone = 0.14 U.S. dollars) ■