Summary
The Danish 2012 "Act on CO2 Quotas" is aimed at reducing greenhouse gas emissions and obligates businesses that operate in Denmark and are included in the EU Emissions Trading System (ETS) to hold CO2 quotas equal to their annual emissions of greenhouse gases. These businesses must also monitor and report their emissions to the Danish Environmental Protection Agency, which will verify compliance with the quota requirement. In case of non-compliance, businesses may face fines and penalties. The Act also provides for the creation of a CO2 emissions registry for tracking and trading quotas.