Denmark has experienced a drastic drop in investments in the green transition in just one year. According to a new analysis that Cowi and AE have done for the trade union 3F, investments from 2024 to 2025 have been adjusted downward by a whopping DKK 500 billion. This is what 3F writes.
Cowi has calculated expected investments in the green transition in the period 2025-2035 in two scenarios: One based on Analysis assumptions for Energinet from October 2024, and one based on Climate status and projection from April 2025. The difference between the investments in the two scenarios is more than DKK 500 billion over the period, corresponding to DKK 47 billion annually.
The downward adjustment particularly affects offshore wind and threatens tens of thousands of green jobs, which were previously part of Denmark's strategy for both climate and energy independence. Since 2022, expectations for offshore wind expansion have fallen from approximately 16 GW expansion in the period 2028-2035 to now just 3 GW.
"Expectations for the expansion of power-to-x capacity, which requires large amounts of green electricity, have also fallen significantly," the report says. And these figures are not only a cause for concern for 3F in terms of climate.
- I am deeply concerned. When I see that investments in the green transition have been adjusted downward by a full 500 billion kroner in such a short time, I am both surprised and alarmed. It is a huge setback for our entire common future. Not only for the climate and Denmark's role as a European frontrunner in offshore wind and green energy, but also to a large extent for the many thousands of green jobs that we have placed our trust in 3F, says Henning Overgaard, who is the chairman of 3F.
The decline comes just a few years after the Esbjerg Declaration, where Denmark committed to playing a leading role in Europe's green energy supply.
Now 3F fears that the vision is crumbling. Over 400,000 employees work in industries with high CO? emissions, and the drastic drop in investments could have direct consequences for many of them. 3F therefore demands political action and long-term planning to get investments back on track.
- This is undoubtedly a major wake-up call. 3F, the trade union movement and employers must and must take responsibility for pushing for investments in the green transition to get back on track. It is important to put the long light on and therefore it is obvious to incorporate it into a future 2035 plan for the Danish economy and security. The green transition must be both a job engine and a climate engine, states Henning Overgaard.
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