Mechanisms for incentivising Carbon Dioxide Removal Technologies
November 25 @ 9:30 am - 12:30 pm
Carbon Dioxide Removal Technologies (CDRTs) are expected to play an increasingly important role, but up to and after 2050. At the international level the IPCC highlights how they could be necessary: the IPCC notes that carbon dioxide removal (CDR) deployment over the 21stcentury is substantial in most pathways considered 1,5°C-consistent.
In order to move ahead with CDRTs, they need to be incentivized (not least financially) within an enabling framework. The focus of ERCST on this topic will therefore be on how to incentivise CDRTs, both at the local level (EU) and cross-border (Article 6 of the Paris Agreement).
Both at the international and EU level there is a clear future reliance on CDRTs, but there are still considerable issues with CDRTs. As yet many still remain unproven, especially at the level they would need to be deployed to match the expectations. The environmental sustainability in the longer term is also not always guaranteed. Therefore, this workstream will not promote specific CDRTs, but rather focus on the enabling framework that is necessary to deploy these technologies at scale, if they are proven to be sustainable.
An agenda for this meeting will be drafted by the beginning of October and will build upon the outcomes of the brainstorm session organised on September 24 in Brussels, as well as other activities.
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a draft agenda will follow later