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Towards improved cost estimates for monitoring, reporting and verification of carbon dioxide removal

Author

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  • Mercer, Leo
  • Burke, Josh
  • Rodway-Dyer, Sue

Abstract

Alongside actions to rapidly reduce greenhouse gas emissions, carbon dioxide will need to be removed from the atmosphere if the world is to meet the Paris Agreement climate goals. The proliferation of net zero targets, and by extension the use of carbon dioxide removal (CDR), has led to increased attention on the governance of CDR. Monitoring, reporting and verification (MRV) is a central component of the governance architecture. This report examines the cost of MRV for different CDR methods, the extent to which the cost of MRV for different methods is perceived as a barrier to their upscaling, where opportunities lie to reduce the cost of MRV and what factors influence the choice of MRV protocol. It provides recommendations for the UK government but which are more widely applicable.

Suggested Citation

  • Mercer, Leo & Burke, Josh & Rodway-Dyer, Sue, 2024. "Towards improved cost estimates for monitoring, reporting and verification of carbon dioxide removal," LSE Research Online Documents on Economics 129071, London School of Economics and Political Science, LSE Library.
    • Handle: RePEc:ehl:lserod:129071
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    File URL: http://eprints.lse.ac.uk/129071/
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    References listed on IDEAS

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    1. repec:osf:osfxxx:fu59w_v1 is not listed on IDEAS
    2. Stephanie Arcusa & Starry Sprenkle-Hyppolite, 2022. "Snapshot of the Carbon Dioxide Removal certification and standards ecosystem (2021–2022)," Climate Policy, Taylor & Francis Journals, vol. 22(9-10), pages 1319-1332, November.
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    More about this item

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    JEL classification:

    • R14 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Land Use Patterns
    • J01 - Labor and Demographic Economics - - General - - - Labor Economics: General

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