April 11, 2024 | ESGtoday | Source |
The European Parliament has approved a groundbreaking law to combat greenwashing and boost carbon removal efforts. The law establishes a certification system to quantify and verify carbon removals, addressing concerns about transparency and trust in climate action. MEPs voted 441-139 in favor, marking a significant step towards implementing a comprehensive carbon removal framework in EU legislation. The initiative aims to increase the use of carbon removal technologies and practices, creating income opportunities for industries and land managers while ensuring environmental sustainability. The law differentiates between various carbon removal activities and introduces liability mechanisms to address potential reversals. Once approved by EU member states, the legislation will play a vital role in achieving the EU's climate goals outlined in the European Green Deal.
Source: European Commission