Debate: Union certification framework for carbon removals
Date: MONDAY, 20 NOVEMBER 2023
Speaker: Wopke Hoekstra
Language: EN

To become climate neutral, deep emission cuts will always be at the core of our efforts, and I want you to know that there is no misunderstanding whatsoever on that first principle. That challenge is for all sectors of our economy, from industry to agriculture. With your support for the ‘Fit for 55’ package, you have already set the right pathway to reduce greenhouse gases as far as we can.  But at the same time, we also have to be realistic. Analysis shows that it is impossible to bring all our emissions completely, totally to zero. And that means that carbon removals, that is to say, the absorption and storage of CO2 in nature or industrial solutions, simply will have to be a part of the solution space in our journey to climate neutrality. We will simply need these solutions and we need them at scale. Carbon removals will play a key role in the Commission’s upcoming analysis of where the 2040 climate target could and should be. So it is essential to already start the groundwork on boosting these removals.  In view of the challenge ahead, we will need to mobilise considerable investment in industrial carbon removal technologies, in carbon farming, such as peatland restoration or cover crops, and in carbon storage in long-lasting products, such as wooden buildings and, of course, in construction.  So it is truly excellent that you are about to vote on the first-ever European framework for carbon removal certification. This tool will give farmers, foresters, companies a business case to invest in and deploy carbon removals. With this framework, they can certify high-quality carbon removals that have robust climate and environmental benefits, and earn good money with it. For example, by selling their certificates to banks that are keen to have a portfolio that is truly sustainable.  And I want to thank you, I want to thank your Parliament and especially rapporteur Lidia Pereira and the shadow rapporteurs – there you are – to improve our proposal ahead of a successful plenary vote tomorrow. May I say that I see a lot of alignment, a lot of alignment between all of us.  Let me briefly mention three elements. First, we agree that for carbon removals to work, we must fight greenwashing and instead create trust with transparent, high-quality carbon removals. Without that, there is no way forward.  Second, I see move in Parliament to include emission reductions from livestock production in the carbon farming space. And it is a big extension to all of our proposal. If you would vote for it, let’s make sure that there is a clear distinction between emission reductions and carbon removals. That is very important for market transparency and for trust.  Third, I see various proposals that task us, the Commission, to follow up with work to improve the deployment and tracking of carbon removal products. There are ideas in this esteemed Parliament to have a Europe-wide registry of certified carbon removals, or for the Commission to come up with technical criteria to make carbon removals work. Let us indeed discuss further which idea we can take forward to help the emerging marketplace best and also by taking into account the resources at our disposal.  Overall, Mr President, I think that the report of Madam Pereira is a very good basis for negotiations with Member States in the Council. So let’s go ahead and empower our rural communities and our industry to what is effectively a double win, for the climate and for business. And with that win-win, the market can start a race to the top rather than to the bottom, and towards the carbon removals that our continent and the world so desperately need.