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EU Parliament approves deal on world’s first carbon removal certification scheme

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By illuminem briefings

· 2 min read

illuminem summarizes for you the essential news of the day. Read the full piece on Euractiv or enjoy below:

🗞️ Driving the news: The European Parliament voted on Wednesday, 10 April, to approve a new carbon removal certification scheme, creating a registry for certified units of carbon dioxide removed from the atmosphere through various methods

🔭 The context: This scheme, the first of its kind, aims to foster a market for captured CO2, offering incentives for the removal and storage of atmospheric carbon
• It includes carbon dioxide removals from both eco-farming practices and industrial processes

🌍 Why it matters for the planet: The initiative is part of the European Union's broader goal to reduce greenhouse gas emissions by 90% relative to 1990 levels by 2040
• Achieving this target requires the capture of 280 million tons of CO2 equivalent, highlighting the scheme's significance in the EU's climate strategy

⏭️ What's next: With national ministers' approval, the new rules will be incorporated into EU law
• This development could pave the way for significant advances in carbon capture technology and practices, providing a crucial tool in the fight against climate change.

💬 One quote: Lead lawmaker Lídia Pereira expressed her enthusiasm, saying, "I am thrilled to see that farmers can have an extra revenue stream" from carbon capture, highlighting the scheme's potential benefits for the agricultural sector

📈 One stat: The European Commission has set a target that necessitates the capture of 280 million tons of CO2 equivalent to achieve its 2040 emissions reduction goal.

Click for more news covering the latest on carbon


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