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💎 Carbon Gap strikes again! This time with a real jewel: “Envisioning a carbon removal strategy for Europe: Carbon Gap's recommendations for a dedicated EU CDR Strategy” is the most comprehensive policy analysis for the EU to date.
📋 It provides 18 actionable policy recommendations the EU needs to take to between now and 2050 to achieve net-zero and scale carbon dioxide removal (#CDR).
Here are a couple of my favourite measures, all of which I have covered in different posts in the past (see comments):
💶 Development of an EU procurement programme (following the U.S.’ footsteps), removing Kt in the first and Mt in the second phase across all carbon removal pathways.
🇪🇺 Integration of Higher-Durability Removals into the EU ETS, ensuring that long-lasting carbon removal efforts are incentivized.
🔁 Creation of a Removals Trading System, establishing a market-driven approach to accelerate the adoption and scaling of CDR technologies.
🎯 Formalizing a Removals Target and setting clear and ambitious benchmarks for member states.
🏦 The Creation of a Carbon Central Bank at the EU level, envisioned as a regulatory body to oversee and facilitate the carbon removals market, with at some point binding carbon removal targets for member states.
🗓️ On top of the 18 measures, the report also lays out a beautiful and clear timeline, highlighting how these measures interlock with each other and synergise with member state-level efforts.
💙 I love this report! So much excellent thinking and experience has gone into it. It provides a detailed blueprint the European CDR industry can use to supercharge its advocacy efforts while staying tightly aligned. If we manage to get even half of these measures implemented, Europe would be well on track to lead CDR policy globally.
😅 Now the hard part starts: putting this all into practice.
❓ What do you think? Which of the 18 measures resonated most with you? Anything missing?
📣 Shoutout to authors Devina Banerjee MBE, Clotilde Besson, Kayla Cohen, Sylvain Delerce, Alexis Dunand, Verena Hofbauer, Eli Mitchell-Larson, Lydia Loopesko, Valter Selénén, Eloisa Viloria, and Phillip Wilson.
🔗 Check out the full strategy: https://lnkd.in/d-rKczew
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