The European Parliament and the Council have reached a provisional agreement on a proposal to set up the world’s first EU-wide voluntary framework for the certification of high-quality carbon removals obtained from eco-farming practices and industrial processes. The provisional agreement sets out certification rules for carbon farming (such as forest and soil restoration, avoiding soil emissions, peatland rewetting, etc.), industrial carbon removals (such as bioenergy with carbon capture and storage, or direct air carbon capture and storage) and carbon storage in long-lasting products and materials (wood-based construction material or biochar).
The certification is expected to prevent greenwashing and foster private investment in carbon removals, while also helping to develop the voluntary carbon market once formally adopted, possibly before the EU elections in June 2024. It is considered as the first step towards creating an EU-wide registry within 4 years that will eventually allow trading of carbon removal units corresponding to one tonne of CO2 removed from the atmosphere.
According to the European Climate Law, signed in 2021, the EU aims to become climate neutral by 2050.
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