Fossil fuel producers must be forced to 'take back' carbon, scientists say

According to the study 'Extended producer responsibility for fossil fuels'(🇬🇧), companies that profit from the extraction of fossil fuels – oil, gas and coal producers around the world – should pay for an equivalent amount of carbon dioxide (CO2) to be stored geologically as a condition to be able to operate.

The authors of the article argue that the technology to capture and store CO2 underground is advancing and is now technically viable.

Under a “carbon recovery obligation”, all fossil fuels mined or imported into a nation would be offset by underground storage of a quantity of carbon dioxide equivalent to that generated by that fuel. Such a process could be used to store 100% of emissions by 2050 and help the world reach the target net zero.

But what does it mean to achieve net zero?

It means zero net emissions of greenhouse gases, mainly carbon dioxide (CO2), into the atmosphere, and any release of polluting gases must be compensated by the reduction of an equivalent amount of CO2.

The study further argues that, unlike a tax on carbon – which discourages the use of fossil fuels making them more expensive – such a system would guarantee the neutralization of the effect on the climate, and the cost of doing so would be part of the cost of producing fossil fuels.

Curto curation:

It is important to point out that the polluter pays principle It is one of the pillars of modern environmental law and brings the concept that whoever pollutes must answer for the damage they cause to the environment. And their liability takes the form of payment which, in turn, may consist of a payment in cash, or in acts of the polluter. (Conjur)

(🇬🇧): content in English

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