A €6b European Purchase Programme for CDR? 😱

🇪🇺 Yes, that is exactly what we might be seeing soon. The EU Commission is hosting a hybrid workshop next week to discuss the design and implementation of a potential purchasing programme for CRCF permanent carbon removal credits.

💙 What I love about this initiative? It is focused on the near-term: how to generate demand for CDR in the 2025-2030 period, which is exactly the gap we urgently need to fill before demand from compliance will hopefully do the rest.

💼 The suggested (seven) options are wide: from a European Buyers’ Club, to an EU Removals Fund, to a Centralised Procurement Agency.

😱 Through this initiative, we might finally be getting at a real use case for CRCF credits, which are expected to start rolling off the shelves in 2026.

💰 In terms of volume, the Commission estimates that this initiative will need to target 5Mt/year of permanent European CDR by 2030 and this will require €2.5b - €6.2b in funding over the next five years.

🤩 The agenda and pre-read look fantastic! Great to see how much work has already gone into prepping this and the calibre of speakers they have lined up, including Christian Holzleitner, Nasim Pour, Noah Deich, and Jeremy Rollison.

🗓️ The workshop is this Wednesday 21st of May from 1-5pm CEST. Link to register in the comments. Agenda and pre-read is sent with the registration confirmation.

👀 Also make sure to tune into the CDR Policy Scoop, Eve Tamme and I will give you all the analysis and context you need to make sense of what happened: https://lnkd.in/deJqYz7i

📈 What do you think? Hot air or potentially the first steps of what could be a crucial vehicle to scale CDR in Europe.

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