19 MARCH | 9:00 – 14:00 | TOWNHALL EUROPE – SQ. DE MEEÛS 5, 1000 BRUSSELS
Bringing together academics, policy-makers and stakeholders to explore a just and effective EU carbon removal policy
How should carbon dioxide removal (CDR) methods be supported and deployed at the required pace for the EU to achieve climate neutrality by 2050 and net negative emissions thereafter?
We have crafted policy recommendations that focus on four main areas that represent the pillars of our strategy: integration into compliance markets, funding for research and innovation, deployment incentives, and climate justice.
Join us for a morning of thought-provoking discussions on how to deploy carbon removal at scale in Europe.
For those who cannot attend in person, the event will also be livestreamed. Only the first panel from each session will be available on livestream. The other panel will be available online following the event.
PANEL: What’s at stake in creating a future CDR compliance market?
PANEL: What’s in the EU’s toolbox to boost the supply of high-quality carbon removal?
PANEL: How to target funding to scale-up CDR research, development & innovation?
PANEL: What does a justice-centred approach to European CDR look like?
Funding the future of CDR through research, development and innovation
Alongside emission reductions, carbon dioxide removal (CDR) will be a vital tool to fight climate change, and a fundamental part of the EU’s efforts to reach its climate goals. To reach deployment at scale, carbon dioxide removal as a nascent technology is in need of dedicated funding directed towards research, innovation and development (TRL 1-7) that is able to address the open questions that remain and support the maturity of the methods.
The EU currently has in place various funding mechanisms that aim to advance the green deal, such as Horizon Europe (HE), the Innovation Fund (IF) and the European Innovation Council (EIC). We find there is a lack of sufficient, dedicated and targeted funding at the EU level that covers the full spectrum of removal methods. To address this gap, we have developed a set of four recommendations to increase targeted funding for CDR.
Building an EU market for carbon removal by 2030 through deployment incentives
Europe has the potential to be a global leader in carbon removal, which will be pivotal to reach net zero climate targets by 2050 and negative emissions thereafter. With the capacity, know-how and and growing interest for carbon removal within member states, alongside its current efforts to develop a regulatory framework for CDR, the EU has an opportunity to seize the lead in developing a CDR ecosystem and show leadership on the global stage.
Despite this opportunity, the EU is currently lagging behind in deploying and scaling up carbon removal solutions. Most of these technologies are still nascent and are struggling to make the transition from the pilot and demonstration phases to commercial viability. To ensure the EU becomes a leader in carbon removal, we have developed three concrete policy recommendations to incentivise the deployment of a portfolio of carbon removal technologies in Europe.
Creating a compliance framework for CDR
As governments pledge to reduce their GHG emissions and reach net zero or even net negative emission balances, the search for the right tool to upscale one of climate neutrality’s central building blocks – carbon dioxide removal (CDR) – has started in several jurisdictions. Across Europe, the idea of including CDR methods in existing climate change mitigation policies, such as emission trading systems, has been gaining traction and is under consideration in several jurisdictions.
The options for a compliance framework for CDR differ in their advantages and disadvantages, both for legislators and market participants, and may result in differences of climate change mitigation benefit achieved. We have crafted a series of recommendations for how Europe can develop an effective compliance market for carbon removal.
Developing a justice-centred approach to CDR
Carbon removal is a new area of climate governance for the EU. As such, policymakers have the opportunity to mainstream justice considerations into the fabric of carbon removal measures from the start. It is imperative that the social and ethical aspects of carbon removal are systematically and rigorously addressed, helping Europe achieve a just transition and work towards climate justice at the global scale.
Given the complex social implications and ethical quandaries conjured by carbon removal, Europe must embed justice into the fabric of its governance. We propose a set of recommendations for how Europe can develop a framework for just climate action through carbon removal.