Michaelowa et al. (2023): International carbon markets for carbon dioxide removal
Axel Michaelowa, Matthias Honegger, Matthias Poralla, Malte Winkler, Sandra Dalfiume, Ankita Nayak IN: PLOS Climate, https://doi.org/10.1371/journal.pclm.0000118
International carbon markets are potentially a very powerful tool for mobilizing carbon dioxide removal in line with Paris Agreement ambitions to limit global warming to well below 2°C. This requires reaching global net-zero emissions between 2050 and 2070. Yet, carbon market regulators have not approached removals in a systematic manner. This review assesses the highly fragmented treatment of removals under compliance and voluntary carbon markets, including baseline, credit and cap-and-trade systems.