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policy instrument
EU ETS revision proposal: integration of permanent carbon removals
Jurisdiction countryEU
Instrument typecompliance-inclusion
Authoritygovernment
Scopecarbon removal only
Statusproposed
DetailEuropean Commission proposal (presented 17 July) to revise the EU ETS. It would integrate up to 250 million tonnes of permanent CO2 removals into the EU ETS between 2031 and 2040, ramping up to about 50 million tonnes per year by 2040. The Commission would buy centrally through competitive auctions, using a portfolio approach with payment on delivery. The ETS cap would rise by an equivalent amount
Monetary noteProposed European Industrial Decarbonisation Bank endowed with 400 million allowances over 2028-2031 to support decarbonisation technologies including carbon removal. A set-aside of 10 million additional allowances to partially address the price gap. Removal purchases are financed by additional allowances from an equivalent increase in the ETS cap. Amounts are stated in allowances, not currency.
Stated statusproposed
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