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A combination of regulations, subsidies and pricing instruments are used on the road to climate neutrality. CO2 is increasingly becoming a commodity in different markets with different functions and prices.
- Trading (ETS)
The European Emissions Trading System (ETS) was established to reduce industrial emissions of greenhouse gases. (More on europarl.europa.eu)
- Carbon boundary setting mechanism (Carbon Border Adjustment Mechanism CBAM)
The EU's Carbon Border Adjustment Mechanism (CBAM) is an EU tool to set a fair price on the carbon emitted in the production of carbon-intensive goods entering the EU and to promote cleaner industrial production in non-EU countries. (More on taxation-customs.ec.europa.eu)
- Urgent support needed for the deployment of breakthrough Green Deal technologies (Carbon Contracts for Difference CCFD)
Europe will need to move faster than ever to achieve a climate-neutral and circular economy by 2050. But with an industry transformation estimated at €17-27 billion a year, Carbon Contracts for Difference (CCfDs) could provide a much-needed boost to accelerate investment to deploy breakthrough Green Deal technologies. (More on cefic.org)
- GHG protocol
GHG is the most widely used standard for accounting and managing greenhouse gas emissions, and its website offers online training and tools. (More on ghgprotocol.org)
- Voluntary Carbon Markets (Voluntary Carbon Markets VCM)
VCM gives companies, non-profit organizations, governments and individuals the opportunity to buy and sell carbon offset credits. A carbon offset is a tool that represents a reduction in carbon dioxide or greenhouse gas emissions by one metric ton. (More on Carboncredits.com)
- Carbon Dioxide Removal CDR
refers to technologies, processes and approaches that remove and permanently store carbon dioxide (CO2) from the atmosphere. CDR is needed to achieve global and national net zero CO2 and greenhouse gas (GHG) emissions targets. (More on wikipedia.org)
- Carbon capture and storage CCS
Carbon capture and storage is a set of technologies aimed at capturing, transporting and permanently storing CO2 that would otherwise enter the atmosphere. Carbon capture and storage (CCS) can be used in industrial facilities such as cement or steel plants and in power plants.
It can also be used to produce low-carbon hydrogen in the first phase of the implementation of the EU's hydrogen strategy. Combined with biogenic sources of CO2, such as sustainable biomass, CCS can generate negative emissions. (More on energy.ec.europa.eu)
