Trading in hot air: why a market in temporary carbon removals is a bad idea

The author contends that temporary carbon sequestration, such as carbon farming, is unsuitable for market-based mechanisms because it cannot store CO2 for the century-long timeframe required to meet Paris Agreement goals. The text criticizes the EU's proposed Carbon Removal Certification Framework for failing to exclude offsetting and double counting, while highlighting the technical inaccuracies of current monitoring, reporting, and verification (MRV) techniques. Instead of 'nature credits', the document proposes rewarding sustainable land management through a reformed Common Agricultural Policy (CAP) and a dedicated EU fund for nature restoration.

• Temporary carbon sequestration, including carbon farming, is insufficient for meeting Paris Agreement warming limits because it cannot guarantee carbon storage for the required minimum of 100 years to stabilize global temperatures.
• Current monitoring, reporting and verification (MRV) techniques for carbon farming lack the necessary precision and accuracy to reliably quantify carbon fluxes, creating a burden for small landowners while benefiting large companies.
• The EU's proposed Carbon Removal Certification Framework (CRCF) is flawed because it does not prohibit the use of certificates for offsetting or emissions trading, nor does it prevent the double counting of withdrawals by companies and governments.
• The Common Agricultural Policy (CAP) requires reform to shift from area-based payments, which the WWF claims direct 80% of funds to the largest farms, toward direct payments for sustainable land management and environmental protection.
• To support nature restoration and biodiversity without relying on carbon markets, the document suggests establishing a dedicated EU fund for nature restoration estimated at €15-25 billion per year.

APA

Frank, S. (2024). Trading in hot air: why a market in temporary carbon removals is a bad idea. Carbon Market Watch. https://carbonmarketwatch.org/2024/10/03/trading-in-hot-air-why-a-market-in-temporary-carbon-removals-is-a-bad-idea/

Chicago

Frank, Sabine. Trading in hot air: why a market in temporary carbon removals is a bad idea. Carbon Market Watch, 2024. https://carbonmarketwatch.org/2024/10/03/trading-in-hot-air-why-a-market-in-temporary-carbon-removals-is-a-bad-idea/.

Wikipedia

{{cite press release |last1=Frank |first1=Sabine |title=Trading in hot air: why a market in temporary carbon removals is a bad idea |publisher=Carbon Market Watch |date=3 October 2024 |url=https://carbonmarketwatch.org/2024/10/03/trading-in-hot-air-why-a-market-in-temporary-carbon-removals-is-a-bad-idea/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{frank2024trading, author = {Frank, Sabine}, title = {{Trading in hot air: why a market in temporary carbon removals is a bad idea}}, publisher = {Carbon Market Watch}, year = {2024}, month = oct, url = {https://carbonmarketwatch.org/2024/10/03/trading-in-hot-air-why-a-market-in-temporary-carbon-removals-is-a-bad-idea/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }