The European Council has adopted legislation to meet 2030 climate targets, including reforming the EU’s Emissions Trading System, introducing a Carbon Border Adjustment Mechanism and a new Social Climate fund, and increasing the EU carbon sinks target. The new EU 2030 target for net GHG removals in the land use, land use change and forestry sector will be set at 310 million tonnes CO2 equivalent. However, some argue that the inclusion of carbon sinks in the emissions reduction goal might be considered an ‘accounting trick’ that makes the proposed 2030 target look higher than it really is. The use of carbon capture and storage (CCS) as an option in the portfolio of mitigation actions for stabilization of atmospheric GHG concentrations is gaining increasing public space, but its widespread application depends on technical maturity, costs, overall potential, regulatory aspects, environmental issues, public perception, and the diffusion of the technology to developing countries.
Source Kluwertaxblog
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