Policy developments in carbon markets rewarding high-quality carbon removals

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dc.contributor.authorBENCINI, Jacopo
dc.contributor.authorDELBEKE, Jos
dc.contributor.authorDOMBROWICKI, Piotr Mikolaj
dc.contributor.authorMARRO, Elena
dc.date.accessioned2025-01-21T14:19:50Z
dc.date.available2025-01-21T14:19:50Z
dc.date.issued2025
dc.descriptionPublished online: January 2025en
dc.description.abstractThe year 2024 was a milestone for carbon dioxide removals (CDR) as the EU adopted a Certification Framework for such activities, and COP29 adopted new UN standards for the sector. This Policy Brief reviews how carbon markets are being prepared to reward high-quality CDR credits in light of the urgent need to scale up these solutions by 2050 as indicated by the IPCC. From the compliance side, a growing number of countries are considering the integration of CDR credits within their ETS (emissions trading schemes) design. Voluntary Carbon Markets have been in crisis over the last two years, but CDR credits are developing as a promising lifeline for the future. The UN CORSIA system (carbon offsetting and reduction scheme for international aviation) could trigger important demand in the sector, if duly adjusted. The role carbon markets can play in boosting the uptake of CDR is conditional on good governance and policy design, robust monitoring, reporting, and verification (MRV), as well as adequate provisions related to integrity.en
dc.format.mimetypeapplication/pdf
dc.identifier.doi10.2870/5110686
dc.identifier.isbn9789294666383
dc.identifier.issn2600-271X
dc.identifier.urihttps://hdl.handle.net/1814/77799
dc.language.isoen
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dc.publisherEuropean University Instituteen
dc.relation.ispartofseriesEUIen
dc.relation.ispartofseriesSTGen
dc.relation.ispartofseriesPolicy Briefen
dc.relation.ispartofseries2025/01en
dc.rightsinfo:eu-repo/semantics/openAccessen
dc.rights.licenseAttribution 4.0 International*
dc.rights.urihttp://creativecommons.org/licenses/by/4.0/*
dc.titlePolicy developments in carbon markets rewarding high-quality carbon removalsen
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