| Title | On the Governance of Carbon Dioxide Removal - A Public Economics Perspective |
|---|---|
| ID_Doc | 32301 |
| Authors | Edenhofer, O; Franks, M; Kalkuhl, M; Runge-Metzger, A |
| Title | On the Governance of Carbon Dioxide Removal - A Public Economics Perspective |
| Year | 2024 |
| Published | Finanzarchiv-European Journal Of Public Finance, 80, 1 |
| Abstract | Climate policy increasingly requires carbon dioxide removal (CDR). We describe its role, characterize optimal flows for non -permanent removals and describe optimal pricing regimes under different information and liability conditions. Non -permanent removal - though to a certain extent optimal - creates liabilities that warrant careful risk management. Thus, seemingly cheap land -based technologies can become expensive. We discuss possibilities for integrating CDR in the EU policy architecture and define four tasks: managing the emission cap; R&D support; quality certification of removals; management of liabilities from non -permanent CDR. We propose three institutions for these tasks: a European Carbon Central Bank, a Carbon Removal Certification Authority and a Green Leap Innovation Authority. |
| https://www.econstor.eu/bitstream/10419/272014/1/cesifo1_wp10370.pdf |
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