The EU has adopted regulations for the development of its own carbon credit market

The European Union has presented a strategic plan for implementing the Carbon Removal and Carbon Farming Regulation (CRCF). The EU wants to help develop the bioeconomy through regulatory changes. In particular, this involves developing the carbon credit market, transparency of certification, and practical methodologies that will facilitate environmental work for farmers and foresters.

This was reported on the European Commission's website.

The European Union is developing mechanisms for the development of its own carbon credit market. The new regulation should ensure the sustainability and transparency of this process.

The European Commission is convinced that this market should be economically viable for those who ensure carbon sequestration in forestry and agriculture, as well as in land use. This could stimulate the formation of new voluntary proposals on the carbon credit market, rather than those created under the coercion of EU member state governments.

Additional tools for the development of the bioeconomy

For the practical implementation of the CRCF regulation, the European Union will launch three new initiatives that are part of the new EU Bioeconomy Strategy:

1. EU Buyers' Club. This instrument will unite private companies interested in investing in carbon credits. It will identify real market demand and help create stable income streams for European foresters and farmers.
2. Carbon Farming Database. This single platform will present emission factors, calculation models, benchmarking data, and remote sensing products. It is a practical tool that will help improve the efficiency of monitoring, verification, and reporting. Businesses will find it easier to report emissions, while environmental authorities can update greenhouse gas inventories more effectively.
3. CRCF methodology for carbon retention in buildings and structures. This initiative will be launched as early as 2026 and will help implement principles of the circular bioeconomy in the construction sector.

EcoPolitiс previously reported that countries were allowed to use carbon credits to achieve NBS targets in the European Union. This refers to compensation of up to 5% of total emissions reductions. The new regulation will help develop this market within the European Union.

Buying carbon credits is a popular way for international corporations to offset their environmental impact. For example, Google has invested in a Brazilian startup that is engaged in the rewilding of tropical forests.