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CAKE at PIK Potsdam and Carbon Gap workshop
On July 3rd, 2024 Robert Jeszke, CEO of CAKE, participated in a closed-door workshop organised by PIK – Potsdam Institute for Climate Impact Research and Carbon Gap. The event brought together leading experts, civil society, industry representatives, and EU policymakers to discuss the role of carbon removal in delivering on the European Green Deal.
The workshop provided an opportunity to present different perspectives on how to best integrate CDR into EU mitigation efforts and highlighted the need for a coherent EU policy framework to support the deployment and scale-up of carbon removal in the years to come. There is no doubt that these discussions will continue, with key issues and next steps to be outlined in the forthcoming months and years. It is of the utmost importance to emphasise that carbon removal through technologies such as CCS/CCU, DACCS, and BECCS are indispensable. Achieving the EU’s climate policy targets requires a greater focus on carbon removal. For sectors where total emission reductions are technologically or economically infeasible, integrating removal technologies systematically into climate policy can provide additional carbon allowances.
This approach frees up resources within the economy, allowing for increased production in other areas. Pricing negative emissions from BECCS and afforestation can lower the carbon price in the EU ETS, ETS2, and reduce carbon costs in non-ETS sectors. Therefore, the development of the negative emissions market and regulatory support are essential for these technologies to thrive.
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