In 2024, the EU adopted the Carbon Removal Certification Framework Regulation (CRCF). The CRCF introduces a voluntary standard for carbon credits, requiring schemes that issue credits to meet certain criteria. In order for carbon removals to be certified, detailed methodologies must be developed for each practice. The first methodologies have now been adopted, covering bioenergy carbon capture and storage, direct air capture and biochar, with methodologies for agriculture, peatland rewetting and afforestation at an advanced stage. My Department has been engaged in the development of the framework and is working to ensure its effective implementation in Ireland to support the uptake of high-integrity carbon removal schemes.
Relevant initiatives were also announced in the EU Bioeconomy Strategy. To create predictable demand for results-based schemes and stimulate private investment, the Commission will establish an EU Buyers’ Club for carbon removals. This voluntary initiative is intended to provide a clear demand signal for carbon farming and carbon removals under the CRCF Regulation by pooling voluntary demand from private companies.
At a national level officials from my Department are in regular contact with officials from the Department of Agriculture, Food and the Marine who are developing a domestic Carbon Farming Framework, which is intended to align with the CRCF and provide financial opportunities for farmers to benefit from their provision of ecosystem services. DAFM has published a draft policy document “Carbon Farming - Developments at European Union level and Principles to develop Carbon Farming in Ireland”. The document was informed by extensive stakeholder input with feedback from stakeholders being very supportive of a National Carbon Farming Framework.
My Department is also engaging closely with other initiatives to develop Irish standards and methodologies for ecosystem service and climate credits, including Peatland Finance Ireland.
