Insurance and Pension Denmark (I&P Denmark) has said it is ‘available’ for dialogue with authorities to support the climate-proofing of Denmark.

It has welcomed a report from the Danish Council on Climate Change that shows the country’s 2025 climate target of reducing CO2 emissions by 50-54 per cent can be achieved with "great certainty".

The report also found that with the government's planned measures, it has been "demonstrated" that Denmark can also achieve a 70 per cent reduction in emissions compared to 1990 levels by 2030 if the plans put forward are realised.

“In a world where the pace of the green transition is challenged, where no one bid on the Danish offshore wind tender and with President Trump's political opposition, this is very good news,” I&P Denmark deputy director, Pia Holm Steffensen, said.

However, I&P Denmark has warned that the climate change already being felt today needs to be addressed.

“Despite the important climate plans and ambitious targets to help curb temperature increases, we must also remember that climate change is already leaving devastating traces both globally and in Denmark,” she said.

The Danish Council on Climate Change highlighted the need to climate-proof Denmark. Calculations from the Technical University of Denmark (DTU) funded by I&P Denmark and the CIP Foundation show that climate change in a three-degree warmer world will cost over DKK 400bn over the next 100 years due to storm surges and cloudburst damage to buildings alone.

At the same time, calculations from DTU show that it pays to climate-proof.

“It is both humanly and financially too expensive not to climate-proof. Climate change is very, very real for Danish home and business owners who are already in a precarious situation. Climate proofing is necessary and urgent - and the industry is available for dialogue with the authorities," Holm Steffensen concluded.

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