Danish PM proposes €1.6b fund for "green transition"

Danish Prime Minister Mette Frederiksen on Tuesday proposed pumping 1.6 billion U.S. dollars into a "green transition" initiative, reported Xinhua.

Speaking at the opening of the Danish Parliament, the prime minister said the economic recovery in the wake of the lockdown of society earlier this year could help fuel the "promise of an ambitious green transition."

"We, therefore, propose a new green margin of two billion Danish kroner annually until 2025, so that together we create certainty about the green investments in the coming years," she said.

In total, approximately 1.6 billion dollars are required until 2025. Part of the money will come from the EU Recovery Fund, according to the prime minister.

Frederiksen emphasized the necessity of new affordable technology to make the green transition sustainable.

The PM reiterated that her government has three crucial consideration on making climate decisions: creating jobs, not increasing inequality, and affordable welfare in the society.