The European Scientific Advisory Board on Climate Change has published a new report that outlines recommendations for accelerating the implementation of carbon dioxide removal (CDR) in the European Union (EU).
The report, named ‘Scaling up carbon dioxide removals – Recommendations for navigating opportunities and risks in the EU,’ points out the actions that can be taken now to ensure CDR solutions are deployed in their fullest potential towards net-zero goals in the EU.
EU climate targets include reaching net-zero emissions by 2050 and eventually a net-negative status beyond that.
As the region’s natural carbon sink, comprised of forests and soils, slowly decreases in effectiveness over time and the pace of developing CDR innovations is lagging, the Scientific Advisory Board highlights the need for policy support that would stimulate growth in carbon removals.
Advisory Board Chair Prof. Ottmar Edenhofer explained, “To achieve its climate targets, the EU must quickly scale up carbon dioxide removals while pursuing deep emissions cuts. With the right incentives, a dynamic policy mix can speed up innovation and strengthen the EU’s position in the global race for cleantech leadership.”
The report calls for a clear distinction and separate legal targets for carbon emissions, temporary CO2 removals from land, and permanent removals via novel methods.
According to it, the EU needs to increase funding opportunities and market incentives for CDR innovations, paired with strong monitoring mechanisms that would mitigate risks and enable social involvement to raise awareness on these solutions.
Another key change that would boost CDR development is the gradual integration of permanent removals into the EU Emissions Trading System. This would enable CDR developers to generate high-integrity credits, providing them with a financing pathway that doesn’t rely on the public budget.
Relevant: In A New Open Letter, 44 Organizations Call For CDR Inclusion Into The EU Clean Industrial Deal
Additionally, the Board suggests establishing an ‘extended emitter responsibility’ that would require today’s emitters to contribute to the future removal of the CO2 emissions they emit.
Lastly, the report recommends using enhanced temporary removals for the land carbon sink in the EU, introducing new pricing instruments that will reward land managers for CDR and would price emissions in the land sector.
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