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EU policy, conservationists alarmed at new market for carbon removal certificates

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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 Euronews or enjoy below:

🗞️ Driving the news: The European Union's new Carbon Removals Certification Framework (CRCF) aims to certify carbon removal methods like using wood in construction and carbon farming practices
• However, conservation groups express concerns that these rules could promote deforestation and facilitate corporate greenwashing, rather than genuinely contributing to carbon reduction efforts

🔭 The context: The CRCF, agreed upon after lengthy negotiations, is designed to stimulate private investment in carbon removals and develop voluntary carbon markets
• It encompasses a variety of carbon sequestration methods, including industrial carbon capture and storage (CCS), and natural solutions like forestry and soil management, setting a minimum duration for carbon storage to qualify as a permanent removal

🌍 Why it matters for the planet: This framework is critical for the EU's climate targets, aiming for a 55% net reduction in greenhouse gas emissions by 2030 and achieving net-zero by 2050
• However, the potential for increased logging for biomass fuel and the certification of temporary carbon storage as removals have raised concerns about the impact on forests and the effectiveness of these measures in combating climate change

⏭️ What's next: The CRCF awaits formal endorsement by the European Parliament and EU Council. Its implementation could significantly influence the EU's carbon market and the role of forestry and agriculture in climate mitigation efforts
• However, the potential for it to lead to increased logging and greenwashing calls for careful monitoring and possibly further negotiation

💬 One quote: "This is an absolute climate red line that jeopardises the goal to reduce fossil emissions as fast as possible, and should never have been included," (Martin Pigeon, a campaigner with the green group Fern)

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