Towards Net Zero Emissions

This policy paper examines the incentives and funding mechanisms needed for carbon dioxide removal (CDR) methods, specifically bioenergy with carbon capture and storage (BECCS) and direct air capture and carbon storage (DACCS).

It begins by outlining the necessity for CDR and the scaling required over time, both in the EU and globally. The paper then provides an overview of the current state of BECCS and DACCS, comparing them to other CDR methods and addressing key risks and challenges. It also highlights existing EU policies and novel projects in the Nordic countries. In light of the insufficient current incentives for BECCS and DACCS, five models are proposed: state support programs, quota obligations, emissions trading, trade between states, and voluntary markets. The advantages and challenges of each model are discussed, alongside with the roles of the EU and Member States in driving their implementation.

Editor bio

Anna Willman is a Climate Policy Expert at Fores and holds a Master’s degree in Environmental Economics and Climate Change from London School of Economics.

About ELF

The European Liberal Forum (ELF) is the official political foundation of the European Liberal Party, the ALDE Party. Together with 56 member organisations, we work all over Europe to bring new ideas into the political debate, to provide a platform for discussion, and to empower citizens to make their voices heard.

ELF was founded in 2007 to strengthen the liberal and democrat movement in Europe. Our work is guided by liberal ideals and a belief in the principle of freedom. We stand for a future-oriented Europe that offers opportunities for every citizen. ELF is engaged on all political levels, from the local to the European.

We bring together a diverse network of national foundations, think tanks and other experts. At the same time, we are also close to, but independent from, the ALDE Party and other Liberal actors in Europe. In this role, our forum serves as a space for an open and informed exchange of views between a wide range of different actors.

About Tankesmedjan Fores

Fores – Forum for reforms, entrepreneurship and sustainability – is the green and liberal think tank based in Sweden. With one foot in academia and the other in the public debate, Fores works every day towards solutions and policies that strengthen the liberal democracy. For more information, visit Fores.se.

Disclaimer

Published by the European Liberal Forum in cooperation with Tankesmedjan Fores. The publication received financial support from the European Parliament. The views expressed herein are those of the author(s) alone. The European Parliament is not responsible for any use that may be made of the information contained therein.