IOGP feedback to the European Commission’s Roadmap on restoring sustainable carbon cycles

This document provides IOGP’s feedback to the to the European Commission’s Roadmap on restoring sustainable carbon cycles.

The initiative aims to support the development of sustainable carbon removal solutions. It will propose an action plan to promote carbon farming and develop a regulatory framework for the certification of carbon removals.

IOGP welcomes the development of a long-term vision for sustainable carbon cycles and to kick-start the development of both technological and nature-based solutions to remove CO2 from the atmosphere, which should complement mitigation efforts under the European Green Deal.

• The Commission’s Communication should not only consider nature-based and technology-based carbon removal solutions but also carbon reductions/avoidance solutions, such as CCS and CCUS
• An EU-wide carbon removal certification (CRC) mechanism is needed and should provide a robust certification of carbon removals
• Certified carbon removals must be valued to provide appropriate financial incentives to incentivize the uptake of CDR technologies
• IOGP welcomes the Commission’s proposals to account for all CO2 transportation modes in the revised EU ETS Directive, to establish provisions for accounting of CO2 within CCU processes, to introduce Carbon Contracts for Differences (CCfDs), and to bolster the Innovation Fund