On the 30th of November 2022, the European Commission published its long-awaited proposal for a regulation to create an EU framework for the voluntary certification of carbon removals.

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On the 30th of November 2022, the European Commission published its long-awaited proposal for a regulation<\/a> to create an EU framework for the voluntary certification of carbon removals. <\/strong><\/span><\/p>\n<\/div>

The objectives of the proposal<\/span><\/h2>\n

The proposal, which was eagerly awaited by operators in the sector, is part of the “voluntary market” for carbon<\/strong>, marking a very important landmark. In fact, it is the first reference framework at European level<\/strong> that aims to define minimum requirements, a methodology and standards for measuring and trading carbon removals. This proposal will thus indirectly regulate a market that is often subject to speculation and greenwashing.<\/span><\/p>\n

The proposal is in line with the commitments made by the European Union to reduce emissions and to become ‘climate neutral’ by 2050 included in the Green Deal<\/a> and with the objectives of the “Fit for 55” package<\/a>, which envisages the reduction of net greenhouse gas emissions by at least 55% compared to 1990 levels. The regulation has the clear objective of promoting activities to remove atmospheric CO2, also including the agriculture and forestry sectors<\/strong>, contributing to achieving the target of 310 Mt of carbon removals by 2030 in the LULUCF (Land use, land use change and forestry) sector.<\/span><\/p>\n<\/div>

“Nature is our greatest ally in the fight against the climate and biodiversity crises. It shields us from climate extremes and absorbs carbon. Right now, Europe\u2019s nature is struggling and our carbon sinks are shrinking. By setting a higher target for carbon removals through nature and ensuring more accurate monitoring, our new regulation on land use and forests helps to redress that situation and puts the European carbon sink on a path to growth again. It\u2019s a key requirement to meet our net zero target and even opens the door to a higher climate target in the near future. […]” – <\/span><\/i>Frans Timmermans, Executive Vice-President for the European Green Deal (11\/11\/2022)<\/p>\n<\/div>

Transparency and credibility for independent verification and certification schemes<\/span><\/h2>\n

The regulation aims to ensure transparency and credibility of the certification process and the carbon market<\/strong> by setting standards for the independent verification of removals and regulating the recognition of certification systems. The latter is undoubtedly an innovative element, as it will allow for the recognition of certification systems already in use in several European countries (e.g. Label Bas Carbone in France), if they comply with the four Q.U.A.L.ITY criteria<\/strong>:<\/span><\/p>\n