
New fund ready with billions for forests
Novo Nordisk Foundation has committed to providing 10 billion Danish kroner over the next ten years as part of the green tripartite agreement to reduce Denmark’s CO2 emissions. The director, Mads Krogsgaard Thomsen, explained that a significant portion of the funds would be used to establish ‘production forests’, which are trees planted to eventually be harvested for construction or furniture, while capturing CO2 in the meantime. About three-fourths of the funding is expected to help convert farmlands, including transitioning to wetlands. However, the foundation won’t purchase land but will support farmers shifting to forestry. Additionally, around 1.5 billion kroner is allocated for research to optimize agricultural land conversion to lower CO2 emissions as much as possible. This donation by the Novo Nordisk Foundation is the largest from a private foundation in Danish history.