DACCS evasion: how green policies risk enabling fossil fuel giants to pollute and profit

The statement warns that fossil fuel companies are leveraging taxpayer-funded DACCS technology to offset emissions and maintain their social license to operate. It highlights Occidental Petroleum's Stratos project as a primary example of how carbon capture can be linked to enhanced oil recovery (EOR), which may actually increase net CO2 emissions. The author urges EU policymakers to ensure the Carbon Removal Certification Framework (CRCF) bans the use of removals for offsetting to prevent similar corporate greenwashing in Europe.

• Fossil fuel companies are investing in Direct Air Carbon Capture and Storage (DACCS) to offset emissions and prolong the viability of oil and gas production, with Occidental Petroleum (Oxy) planning to build over 100 DAC plants globally by 2035.
• The Stratos project, the world's largest planned DAC site, aims to remove 500,000 tonnes of carbon annually starting in 2025 and has already secured offset deals with companies including Airbus, Amazon, Shopify, and Thermo Fisher.
• There is a risk that captured carbon is used for enhanced oil recovery (EOR), which the document claims can result in 2.7 to 3.7 additional tonnes of CO2 emitted for every tonne stored underground.
• The European Union's proposed Carbon Removal Certification Framework (CRCF) may inadvertently allow fossil fuel emissions to be offset using certified removals, which the author argues would enable greenwashing and hinder climate neutrality.

APA

Stoefs, W. (2023). DACCS evasion: how green policies risk enabling fossil fuel giants to pollute and profit. Carbon Market Watch. https://carbonmarketwatch.org/2023/09/27/daccs-evasion-how-green-policies-risk-enabling-fossil-fuel-giants-to-pollute-and-profit/

Chicago

Stoefs, Wijnand. DACCS evasion: how green policies risk enabling fossil fuel giants to pollute and profit. Carbon Market Watch, 2023. https://carbonmarketwatch.org/2023/09/27/daccs-evasion-how-green-policies-risk-enabling-fossil-fuel-giants-to-pollute-and-profit/.

Wikipedia

{{cite press release |last1=Stoefs |first1=Wijnand |title=DACCS evasion: how green policies risk enabling fossil fuel giants to pollute and profit |publisher=Carbon Market Watch |date=27 September 2023 |url=https://carbonmarketwatch.org/2023/09/27/daccs-evasion-how-green-policies-risk-enabling-fossil-fuel-giants-to-pollute-and-profit/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{stoefs2023daccs, author = {Stoefs, Wijnand}, title = {{DACCS evasion: how green policies risk enabling fossil fuel giants to pollute and profit}}, publisher = {Carbon Market Watch}, year = {2023}, month = sep, url = {https://carbonmarketwatch.org/2023/09/27/daccs-evasion-how-green-policies-risk-enabling-fossil-fuel-giants-to-pollute-and-profit/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }