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…
Category: removals
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…