Denmark Earmarks Over $400Mln To Subsidize 775,000 Green Cars By 2030 - Finance Minister

MURMANSK (UrduPoint News / Sputnik - 05th December, 2020) Denmark's parliament has agreed to increase the number of zero and low emission cars in the country to 775,000 within the next 10 years as part of the national goal to reduce greenhouse emissions by 70 percent by 2030, Danish Finance Minister Nicolai Wammen said on Friday.

"We have stated before that a million green cars will be driving Denmark's roads in 2030. But the agreement that we reached today sets a clear goal � to create conditions to put the first 775,000 cars on the roads," Wammen said at a press conference, dubbing the day a "Green Friday.

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As stated by the minister, the government will subsidize the purchase of electric and hybrid cars in order to make them more affordable for citizens and encourage the transition, allotting 2.5 billion kroner ($408 million) from a so-called "green reserve" fund.

According to the minister, this is one part of a massive reorganization of Denmark's automobile transport system in line with the country's goal to reduce CO2 emissions by 70 percent by 2030. Increasing the share of green cars, in particular, is expected to let Denmark reduce emissions by 2.1 million metric tons (2.3 million short tons).