This event was selected as a workshop within Innovative4Climate (I4C) 2023, the World Bank Group’s annual global conference on climate finance, carbon markets and investment. The full programme is available here.

To achieve the goal of the Paris Agreement, countries must drastically reduce their emissions and achieve a net-zero economy by 2050.

Although carbon removals have been designated a key technology to achieve the 2050 climate neutrality target, the actual deployment is still far below the necessary levels indicated in various global scenarios for meeting this international goal. Also, full deployment cannot be reached if the scale of this technology remains only at national and regional levels, as storage capacity is not equally distributed across the globe. For these reasons, international cooperation is necessary, and Article 6 of the Paris Agreement can also be one of the tools for the international carbon market for removals. Also, a strong political message from COP28 on this topic is critical to maintain the momentum.

In this event, ERCST explored the role of carbon removals in different climate neutrality scenarios and how regulatory frameworks in different countries are giving value to this technology.

Agenda    ERCST Slides     Publication 1    Publication 2