(MENAFN- Live Mint) (Bloomberg) -- The UK is no longer the most ambitious nation in the world when it comes to cutting CO2 emissions in the fight against climate change over the next decade.

Denmark's climate minister, Lars Aagaard, announced Monday that his government would submit a binding target to cut emissions by 82% by 2035 compared with 1990 levels. That's one percentage point higher than the UK goal set out earlier this year.

And ultimately the number could edge even higher. The Danish government said in a statement that the goal will be set“as a point target within the range of 82 to 85 percent.” It is willing to allocate 4 billion kroner (about $620 million) per year to meet the target, the statement said.

“It is crucial that we send a bold and clear signal in the times that we're living in,” he said in a press conference at the COP30 climate conference in the Brazilian city of Belém.“Too much in this world is moving in the wrong direction. In Denmark we will continue to show that ambitious climate action can go hand in hand with a competitive economy and strong social cohesion.”

Denmark is one of the most progressive countries in the EU on climate change and has pivoted its economy to benefit from clean technologies. By comparison, the EU submitted to the United Nations a pledge to cut the bloc's emissions by between 66.3% and 72.5%. Other big economies like India and Saudi Arabia have yet to put forward updated targets.

Countries are discussing a number of issues at COP30, including how to accelerate emissions cuts and a possible road map to plan the transition away from fossil fuels.

--With assistance from Sanne Wass.

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