Europe accused of hijacking int’l carbon markets with removal certification

Achieving climate neutrality in Europe by 2050 necessitates significant greenhouse gas reductions and carbon removal to offset unavoidable emissions. Brussels has initiated the Carbon Removal Certification Framework (CRCF) to amplify carbon removal efforts and combat greenwashing, enabling businesses to demonstrate action with certified units. Temporary carbon storage from farming, forest restoration, or soil emission reductions is distinguished from ‘permanent’ removals under the EU scheme, requiring CO2 sequestration to last at least five years for certification.

The scheme faces criticism on several fronts. Firstly, the EU’s exclusion of international carbon credits to meet its climate targets may disadvantage developing countries. The breakdown of talks at COP28 in Dubai regarding voluntary action under the Paris Agreement (Art.6) partly stems from conflict with CRCF. Secondly, concerns arise over the applicability of the EU’s high standards for developing countries, potentially excluding them from much-needed external funding. Thirdly, RBI is particularly alarmed by the scheme’s disregard for certifying avoidance action, further marginalizing forest and peatland conservation efforts by the EU.

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