European Commission considers guidance to unlock corporate carbon removal demand

The European Commission, EFRAG, and the Nordic Carbon Removal Association (NCRA) are developing communication guidance to incentivise corporate purchases of high-quality permanent carbon removals. This initiative follows a working session at the Carbon Removal Policy Summit in Brussels, where over 200 participants discussed challenges faced by buyers. The proposed guidance aims to address corporate concerns regarding greenwashing accusations and legal exposure, which currently deter purchases. An NCRA outlook suggests 70% of buyers would increase spending on permanent carbon dioxide removal (CDR) if such guidance were available. This effort seeks to stimulate private sector demand, crucial for scaling the European CDR industry ahead of the Commission's planned 250 million tonne CDR purchases between 2031 and 2040.

This summary was written by carbon.fyi from the reporting linked above. It is not a quotation; cite the original source.