The European Union is proposing a plan to purchase 250 million tonnes of permanent carbon removals between 2031 and 2040 through its Emissions Trading System (ETS), making it the largest government demand signal for durable removals ever proposed. Discussions are also underway for international carbon removals and pathway-specific support for industries to decarbonize, aiming to achieve and sustain carbon-neutrality through a global approach to carbon removal technology and market mechanisms. Additionally, Europe is working on a framework to support the deployment of Direct Air Capture (DAC) at scale, with negotiations ongoing to shape policy that meets the needs of project investors and attracts industry-creating capital. This initiative could benefit Heirloom's projects in North America and potentially expand their operations to the EU, amplifying Europe's leadership in climate solutions and bringing DAC technology to more regions.
https://www.heirloomcarbon.com/news/carbon-removal-is-entering-the-compliance-era