The study explored "how do Danish companies establish strategies towards EU ETS" and "what are their corporate strategies" by conducting empirical survey with industrial firms. Among all 65 firms on the list of Danish NAP II, information from 20 respondents was collected for the analytical study. Survey results shown that the impact of EU ETS to Danish companies was mostly evident in companies increased production cost and the competitiveness loss of their products. Most firms developed strategies with a top-down decision making approach while following the logic of appropriateness....