Our investigation into Occidental Petroleum’s heavy investment, including taxpayers’ money, in untested direct air capture reveals the huge dangers involved in misusing carbon removals as a substitute for genuine climate action.
Occidental Petroleum (Oxy) has positioned itself as a global leader in direct air capture, carbon capture and utilisation, and enhanced oil recovery. In ambiguous messaging, the oil and gas company depicts these processes as both an effective tool for tackling the climate crisis and as a mechanism for extending business as usual fossil fuel production and consumption for decades to come.
Is offsetting fine if it is done with highly durable carbon removal credits? Sabine Frank weighs the pros and cons.
EU’s underwhelming 2040 climate target shifts responsibility to future generations
With the European Commission set to release its proposed 2040 climate target for the EU on 6 February 2024, it is imperative that policymakers get the design right by separating carbon removals from emissions reductions,
the European Commission has received an open letter signed by 96 academics, businesses, civil society organisations and research institutions urging the EU to separate emissions reductions, land-based sequestration and permanent carbon removals in the EU’s post-2030 climate framework.
This paper reviews a variety of regulatory approaches to carbon dioxide removals (including emissions trading systems, tax incentives and public direct subsidies) and voluntary approaches, and, building upon failures, promising concepts and lessons learned from the reviewed frameworks, sketches a blueprint for sensible CDR policy design.
The International Energy Agency (IEA) confirms that delayed emissions cuts will leave us overly dependent on the panacea of carbon removals, which will deepen the climate crisis and make it costlier to humanity.
A recent report by Carbon Market Watch of 20 global, EU, national and sub-national climate policy frameworks shows that not one governs carbon removals in an environmentally sound way.
A companion to ‘A framework for assessing the climate value of temporary carbon storage’, this document provides a summary for policymakers based on the scientifically grounded evidence from climate economist Danny Cullenward’s research.
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