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CDR markets and policy by Eve Tamme

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CDR markets & policy
Eve Tamme
Founder and Managing Director
Climate Principles
Swiss Carbon Removal Platform, 17 May 2022

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IPCC 6th Assessment Report
WGIII contribution on the role of CDR:

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Source: WGIII contribution to the IPCC Sixth Assessment Report
Adoption of policy instruments

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CDR markets and policy by Eve Tamme

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Europe is finally tackling the missing part in its climate policy toolbox – carbon removal. The upcoming Certification for Carbon Removals aims to feed into both the voluntary and regulatory carbon markets. If executed well, this will serve as an example globally. Meanwhile, countries are including various carbon removal methods in their Long Term Strategies. The role of carbon removal in the carbon markets under Article 6 of the Paris Agreement will grow. Eventually, the carbon markets will become carbon removal markets. In the first presentation, Eve Tamme will share her insights on carbon removals in European and international climate policy.

Europe is finally tackling the missing part in its climate policy toolbox – carbon removal. The upcoming Certification for Carbon Removals aims to feed into both the voluntary and regulatory carbon markets. If executed well, this will serve as an example globally. Meanwhile, countries are including various carbon removal methods in their Long Term Strategies. The role of carbon removal in the carbon markets under Article 6 of the Paris Agreement will grow. Eventually, the carbon markets will become carbon removal markets. In the first presentation, Eve Tamme will share her insights on carbon removals in European and international climate policy.

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CDR markets and policy by Eve Tamme

  1. 1. CDR markets & policy Eve Tamme Founder and Managing Director Climate Principles Swiss Carbon Removal Platform, 17 May 2022
  2. 2. IPCC 6th Assessment Report WGIII contribution on the role of CDR:
  3. 3. Source: WGIII contribution to the IPCC Sixth Assessment Report Adoption of policy instruments
  4. 4. Nationally Determined Contributions • Countries’ climate pledges under the Paris Agreement with a 5-year ratcheting mechanism • Next round of new or updated NDCs due in 2025 • Current NDCs include climate pledges for 2030, new round should look at 2035 or beyond • Scarce consideration of carbon removal Target 2025 or 2030 2015 Target 2030 2020 Target 2035 2025 Target 2040 2030
  5. 5. • Mid-century strategies • Vast majority include carbon removal • Nature-based CDR methods included more widely • From technology-based methods, BECCS is most used • Strategies are difficult to compare and the level of detail on all elements varies substantially Long Term Strategies
  6. 6. • Voluntary market • Compliance markets • Emissions Trading Systems • Article 6 of the Paris Agreement • Carbon markets à Carbon Removal Markets Carbon Markets
  7. 7. The European Climate Law 2030 55% net GHG reduction target (compared to 1990), includes separate removals cap of 225Mt CO2 Climate neutrality target The EU “shall aim to achieve negative emissions” after 2050 2050 Post 2050 Approved in summer 2021, in force.
  8. 8. • The revision of the EU’s sectoral climate policies: • EU Emissions Trading System • Effort Sharing Regulation (non-ETS sectors) • Land Use, Land Use Change and Forestry Regulation • The upcoming proposal on EU’s Carbon Removal Certification Mechanism (CRC- M) • and more… CDR in Upcoming Legislation
  9. 9. • Afforestation & Reforestation • Agroforestry • Forest Management • Increase in soil organic carbon on mineral soils • Peatland rewetting (incl Blue Carbon) Carbon Removal Certification 1/2 • Biochar • Biomass in buildings • Bioenergy with CCS (BECCS) • Direct Air Capture and Storage (DACCS) • Enhanced Rock Weathering • Carbon Capture and Storage (CCS) • Carbon Capture and Utilisation (CCU) Nature-based Technology-based Shortlisted CDR methods:
  10. 10. Carbon Removal Certification 2/2 Dec 2021 Q1-Q2 2022 Q4 2022 2024-2025 European Commission adopts Communication “Restoring sustainable carbon cycles” on CRC-M and carbon farming Call for Evidence on carbon removals (closed on 2 May) Work on the impact assessment for the legislative proposal European Commission publishes the legislative proposal for CRC-M EU institutions adopt CRC-M legislation, and the CRC-M will become operational
  11. 11. • Lack of detail on the role of CDR • Policies don’t recognise the breadth of CDR methods • MRV and accounting gaps for many CDR methods • Emission reduction policies can be a blueprint for a lot but CDR has some specific policy design needs around durability • R&D, innovation, commercialisation, financing • Do no harm, climate justice Policy challenges
  12. 12. @EveTamme EveTamme evetamme.com; Eve.Tamme@climateprinciples.com climateprinciples.com Thank you

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