The European Union cap-and-trade emissions trading system (EU ETS) faces two challenges in the context of the European Green Deal. First, to meet the Paris temperature target, emissions in the energy and industrial sectors must fall to net-zero and then even become net-negative. Second, there is...

A carbon central bank (CCB) that translates carbon removals into allowances would transform the European Union Emissions Trading System (EU ETS) from a fiat allowance to a gold standard system, ensuring unchanged net emissions on the path to net-zero greenhouse gas (GHG) targets. Meeting such...

A carbon central bank (CCB) that translates carbon removals into allowances would transform the European Union Emissions Trading System (EU ETS) from a fiat allowance to a gold standard system, ensuring unchanged net emissions on the path to net-zero greenhouse gas (GHG) targets. • Meeting...