Read our new blog on why the proposed methodologies for the EU Carbon Removal Certification Framework (CRCF) continue to fail to meet basic integrity requirements: https://lnkd.in/eGxe9jbN While the debate on who should buy EU CRCF units is gaining momentum, we were commissioned by Carbon Market Watch to look into the revised methodologies proposed by the European Commission for quantifying the removals and emission reductions. We find that the methodologies have been improved in some areas, but continue to fall short on basic integrity principles and do not build on the wealth of experience and lessons learned with existing carbon crediting schemes. Among the hundreds of methodologies that Oeko-Institut researchers have reviewed over the past 25 years, these are among the lowest quality. The methodologies set a lower standard than the Article 6.4 Paris Agreement Crediting Mechanism and also do not meet requirements of the The Integrity Council for the Voluntary Carbon Market (ICVCM), the Carbon Credit Quality Initiative, or Clean Development Mechanism (CDM) which the EU banned from use in its EU due to integrity concerns. We fear that the quality of units generated with the proposed CRCF methodologies could be comparable to that of avoided deforestation projects using older Verra methodologies which led to considerable over-crediting due to inflated deforestation baselines. Concerns with the quality of these credits have considerably undermined confidence in the voluntary carbon market and led to a price crash for such credits. If the EU does not change its course of action, the same fate could happen to CRCF units. In our blogpost we summarize the most important shortcomings and make recommendations on how the methodologies should be improved prior to their adoption.
Thanks, Lambert Schneider. This points out the need to educate Brussels actors on carbon credit quality and not rely only on the policy process in Brussels to iron out the competing interests in the carbon credit world and magically come to a better outcome than other frameworks.
Thank you for doing this work. If the carbon markets are to be taken seriously as a measure that can help mitigate climate change, rather than just allowing companies to kick the problem down the road, we need to know that they are robust. That most CRCF units "will not represent any actual emission reductions or removals" is very concerning!
There is a lot of debate whether “avoided deforestation projects using older Verra methodologies” indeed led to the overcrediting Verra is accused of all. Verra had project based validated checks. Research is therefor being prepared to counter that. You can’t compare the PACM methods with CRCF for now, as this tool is currently meant to help the EU get carbon removals financed and in the same time reduce scope-3 of agri-food for example. Also the CRCF is embedded is an ambitious climate policy and regulation environment. There are soil rules, ETS, CSRD, RED. And as you see and will agree with, the EC spends a lot of effort in the Dedicated Act on verification and permanence methods of the carbon removals. And since there is no intent to export CRCF credits outside EU but to learn from financing removals, it is ok to use for example standardized and regional baselines. Key is to start action. Applying PACM methods is not necessary for the purpose and would block action and motivation. We don’t want that. There is for example no need to improve NDC targets first as is said for Art 6.4. Since VCM is used for finance, that does not impact national emissions reporting either. IETA Christian Holzleitner Pedro Martins Barata Paul Zakkour
Thanks to Lambert Schneider and his team for the thoughtful analysis! Curious to hear from the European Commission: Will methodologies developed under the Paris Agreement framework ultimately be accepted?
Great work Lambert and team
Thank you for sharing! It is very insightful and necessary.
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