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What to make of Europe’s upcoming carbon management strategy

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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 Commission is set to unveil a carbon management strategy on February 6, aiming for the sequestration of 450 million tonnes of CO2 annually by 2050
This includes plans for direct air capture, targeting 100 to 200 million tonnes of CO2 removal from the atmosphere
The strategy will also address the integration of carbon removal into the EU's Emissions Trading Scheme (ETS)

🔭 The context: This strategy is part of Europe's broader goal to achieve climate neutrality by 2050
The proposed targets are in response to the need for substantial carbon removal to offset emissions from sectors that are difficult to decarbonize
The plan includes both storage of captured CO2, potentially underground, and its use in producing goods

🌍 Why it matters for the planet: Implementing this strategy is crucial for the EU to meet its climate commitments
The focus on carbon capture and storage (CCS) underscores the importance of innovative solutions in tackling climate change
However, the approach raises concerns about potential North-South divides in Europe regarding CCS project locations and the impact of integrating carbon removal into existing carbon markets

⏭️ What's next: The success of the strategy depends on the development of effective policies and support mechanisms, including the integration of carbon removal into the EU ETS
The long-term plan involves balancing emissions reduction with carbon removal, while ensuring that the market for carbon credits remains robust and doesn't discourage immediate decarbonization efforts

💬 One quote: "It’s not a question of waiting for 2030 to get to all the other decarbonisation options – Europe has to start planning now to scale these technologies by 2050," (Eadbhard Pernot, Clean Air Task Force)

📈 One stat: The EU aims to capture at least 50 million tonnes of CO2 per year by 2030, with a 2050 goal of 450 million tonnes annually

Click for more news covering the latest on carbon

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