Denmark Steps Up Green Funding as Pandemic Threatens Transition

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(Bloomberg) -- Denmark’s small and mid-sized businesses are getting some additional funding to help them become greener.

The Danish Business Promotion Board is releasing 82.5 million kroner ($12.5 million) to ensure companies struggling with the fallout from Covid-19 don’t abandon plans to transition away from fossil-fuel reliance.

The money can be used to help businesses in areas like recycling and pooling their expertise.

“It looks like the pandemic has loosened its grip on us, and we can once again address the green transition, which holds great growth opportunities for Danish companies -- both domestically and internationally,” board Chairman Jakob Riis said in a statement Tuesday.

The Danish government has said it wants to cut emissions by 70% compared to their 1990 levels by 2030.

©2020 Bloomberg L.P.

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