The invention relates to highly concentrated aqueous emulsions of peroxides comprising an anti-freeze agent, a polyvinyl acetate with a degree of hydrolysis between 45 and 80%, and optionally a non-ionic surfactant with an HLB value greater than 10 selected from alkylene oxide block-copolymers, ethoxylated fatty alcohols, and ethoxyfated fatty acids. The emulsions have a low COD value and are safe, storage stable, and generally applicable.