The EU Council formally adopted the European Climate Law amendment on March 5, after the plenary adoption by the European Parliament last Month. It legalises the interim 2040 -90% climate target, leading to net climate neutrality in 2050. This includes linking permanent European carbon removals (CRCF) to compensate for residual hard-to-abate emissions under the EU…
Category: removals
Insetting: make climate impact in the own supply chain and help countries meet climate targets
A new climate strategy is gaining ground among companies to achieve their climate goals: insetting. This means reducing CO₂e emissions or increase carbon removals within a company’s own value chain (scope-3). This strategy can help identify additional potential reductions. And it can replace financing external reductions in carbon. projects to compensate residual emissions (offsetting). Though…
Linking Carbon Removals to the EU ETS – and a net negative emissions target after 2040
IPCC sees a need for CDR – nature-based AND direct air carbon capture and storage – of 7-9 Gt for the 1,5 Degrees target in 2050. The 2024 Emissions Gap Report writes that next NDCs “require a much faster progression through its formative phase to reach gigaton scale by mid-century“, mentioning 30-800 Mt of novel…
The Swedish Blueprint: CO2 Deals That Deliver on Climate Goals
At the recent Climate Summit in Baku, November 2024, world leaders took a bold step toward tackling the climate crisis. The summit gave the official green light for the use of carbon markets under Article 6 of the Paris Agreement, a mechanism designed to help nations meet their climate commitments while mobilizing much-needed climate finance…
Updates and the future of carbon trading
Last week I joined for Anthesis the 24th annual GHG Trading Workshop by IEA-IETA-EPRI. I gave a presentation on the future of the carbon market, particularly EU #ETS after 2040. I highlighted how the EU ETS can get a #negative emissions target, gradually introducing carbon #removals from EU and global projects. Stephanie La Hoz Theuer of ICAP…