
📣 More details emerging on the upcoming Industrial Carbon Management Strategy. According to a leaked version seen by Bloomberg today, the EU Commission is considering a 90% emission reduction target for 2040, with up to 10% constituted by carbon dioxide removals (#CDR).
👉 This builds on info from earlier this week that the EU is estimating 450Mt of CO2 emissions to be captured by 2050, of which 100-200Mt will need to be CDR.
💡 An immediate reflection: great to see the Commission opting for an ambitious 90% target (the options were 80-95%), and to see a bold, science-backed CDR target alongside it.
🤔 What is not clear yet is what type of CDR we are talking about and how these 10% might be further broken down into lower and higher durability CDR.
🔎 I guess the Commission is keeping some things secret before the big reveal on February 6th.
❓ What is your take on this? Ambitious enough or not?
🔗 Link to original Bloomberg article (paywall): https://news.bloomberglaw.com/esg/eu-set-to-seek-ambitious-goal-of-90-emissions-cut-by-2040-1
Article reposted by Financial Post (no paywall): https://financialpost.com/pmn/business-pmn/eu-set-to-support-ambitious-target-of-90-emissions-cut-by-2040
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