Report: How Carbon Trading Can Unlock Carbon Dioxide Removals
by Malek Al-Chalabi , Hasan Muslemani, The Oxford Institute for Energy Studies, November 2023
However, universal acceptance of carbon trading as a key tool for raising climate ambitions remains a challenge. In this Energy Comment, the importance of carbon trading and the challenges it faces are presented including how carbon trading can help countries achieve net zero. In particular, based on a combined academic and industry review, this article focuses on the importance of CDR activities and examines the role that carbon trading can play in unlocking their potential and highlighting, as a top priority, the need for carbon removal projects to be internationally recognized and supported particularly within Article 6 of the Paris Agreement.