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The world's first durable CDR transaction under the Paris Agreement - with Veronika Elgart
Manage episode 490288230 series 3656938
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The Paris Agreement's carbon markets could be worth up to $250 billion annually and reduce or remove gigatons of CO2.
But how do we operationalise it? How can countries start trading durable removals under the Paris Agreement’s Article 6.2 mechanism?
Norway and Switzerland have just agreed on the first durable removals transaction under this framework. For their pilots, planned to be executed pre-2030, they aim to transfer up to 10 Kt of BECCS from Norway and up to 1 Kt of mineralised CO2 from Switzerland.
Eve Tamme and Sebastian Manhart are joined by the Swiss Federal Office for the Environment FOEN’s Veronika Elgart, one of the leading forces behind this agreement. Together, they discuss how this agreement came about, what exactly is planned, and what this could mean for scaling up the international carbon markets more broadly.
Show notes:
- Eve Tamme: LinkedIn and Website
- Sebastian Manhart: LinkedIn and Website
- Veronika Elgart: LinkedIn
- Agreement between Norway and Switzerland on International CCS and NET
- Press releases: Norway-Switzerland, Switzerland, ClimeFi, Carbon Centric
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