Danish industry calls for foreign CO2 fund

Government urged to support early start before entry-into-force of Kyoto flexible mechanisms rules

The Danish industry confederation (DI) has proposed the establishment of an independent investment fund to finance carbon dioxide (CO2) reduction measures abroad. Such measures would help Denmark meet its targets under the Kyoto protocol, as any resulting emissions cuts in foreign countries could be offset against domestic emissions under planned EU implementation of the protocol's flexible mechanism rules.

The "climate fund," which would be co-financed by government and industry, would help the Danes find a way around several problems, DI spokesman Anders Stouge told Jyllands-Posten newspaper yesterday. "To begin with, it will be some years before Denmark can exploit CO2 reductions in other countries," he said. "And for another thing, the EU [emissions trading] proposal only applies to the biggest and most polluting companies."

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