Conclusion and next steps
On the US side, these federal rulings will continue to have implications for both corporates addressing their net-zero claims and filings as well as trading of carbon credits along the voluntary carbon market. As removals continue to enter the space, it affirms the critical importance of robust MRV. The carbon removal ecosystem is actively working to advance MRV, and for integrity this also bears the critical need for a continued divergence between removals credits and offsets.
While a more critical moment is being met at the EU level with regards to corporate climate claims and potential implications for carbon removal, monitoring is still needed in other parts of the world, like the United States, on carbon credits and the voluntary carbon market as a whole.
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Elisabeth Harding is the Policy Officer of the Negative Emissions Platform, a Brussels-based association representing European and international organisations focused on carbon removals. NEP’s members are primarily technology companies, but also include project developers, investors, carbon marketplaces, and buyers of carbon removals. NEP provides a forum in which diverse like-minded organisations actively collaborate to improve political and public recognition of carbon removals.
Isabella Corpora is an Associate Director with the Carbon Business Council, a member-driven and tech-neutral trade association of companies unified to restore the climate. Together, the nonprofit coalition represents more than 100 companies across six continents with more than $16.5 billion in combined assets. CO2BC serves as a resource for members, lawmakers, the energy industry, and the environmental community to advocate for the responsible growth of the carbon management industry.
Useful follow up links:
Negative Emissions Platform, Position Paper on the Green Claims Directive, September 2023
Carbon Business Council, Issue Brief on Monitoring, Reporting, and Verification, May 2023
Carbon Gap, ‘Climate claims: what’s the latest in EU policy?’, December 2023