(Finance) – European Parliament And Advise have reached an agreement to create the first European certification framework for removal of CO2 from the atmosphere. The regulation, proposed in November 2022 by the EU Commission, is aimed at encouraging carbon absorption activities both with industrial technologies and with natural methods as happens in agriculture and forestry, helping to achieve climate neutrality by 2050.
The agreement covers several types of techniqueslike it storage permanent of carbon with industrial technologies, storage in long-lasting products such as wood-based ones, and carbon farming in agriculture.
The agreement still needs to be adopted by Parliament and the Council, after which the new law will be published in the Official Journal of the EU and will come into force 20 days later.