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Undermining climate action? : Challenges of public-private co-financing of carbon removal in the Global North

Christiansen, Kirstine Lund LU ; Allesson, Jonas LU orcid ; Finkill, Guy LU ; Fitzpatrick, Nick and Hougaard, Inge Merete LU (2026) In Environmental Science and Policy 183.
Abstract

Carbon dioxide removal (CDR) is increasingly seen as essential for mitigating climate change. In Global North countries like Denmark, Sweden and the UK, bioenergy carbon capture and storage (BECCS) projects have become a prominent component of national climate strategies. This perspective explores an emerging trend: the advancement of such projects through a co-financing model that combines state funding with corporate investment. While the specifics of these co-financing arrangements vary, we identify several risks associated with them. First, we argue that the model facilitates the double claiming of CDR climate benefits by both the national government and the corporate investor, which risks mitigation deterrence by inflating the... (More)

Carbon dioxide removal (CDR) is increasingly seen as essential for mitigating climate change. In Global North countries like Denmark, Sweden and the UK, bioenergy carbon capture and storage (BECCS) projects have become a prominent component of national climate strategies. This perspective explores an emerging trend: the advancement of such projects through a co-financing model that combines state funding with corporate investment. While the specifics of these co-financing arrangements vary, we identify several risks associated with them. First, we argue that the model facilitates the double claiming of CDR climate benefits by both the national government and the corporate investor, which risks mitigation deterrence by inflating the apparent scale of climate action. Second, we contend that CDR projects that count towards Global North countries’ climate targets cannot be considered additional and therefore should not be sold as carbon offsets. Finally, we argue that market-based CDR risks favouring large corporations and affluent governments able to pay for carbon removal and storage space, raising concerns about global climate justice.

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author
; ; ; and
organization
publishing date
type
Contribution to journal
publication status
published
subject
keywords
Bioenergy carbon capture and storage, Carbon dioxide removal, Climate policy, Denmark, Sweden, United Kingdom
in
Environmental Science and Policy
volume
183
article number
104447
publisher
Elsevier
external identifiers
  • scopus:105045381489
ISSN
1462-9011
DOI
10.1016/j.envsci.2026.104447
language
English
LU publication?
yes
additional info
Publisher Copyright: © 2026 The Authors.
id
686bc05e-5a77-4780-8270-679793aed901
date added to LUP
2026-08-10 14:13:50
date last changed
2026-08-12 10:38:41
@article{686bc05e-5a77-4780-8270-679793aed901,
  abstract     = {{<p>Carbon dioxide removal (CDR) is increasingly seen as essential for mitigating climate change. In Global North countries like Denmark, Sweden and the UK, bioenergy carbon capture and storage (BECCS) projects have become a prominent component of national climate strategies. This perspective explores an emerging trend: the advancement of such projects through a co-financing model that combines state funding with corporate investment. While the specifics of these co-financing arrangements vary, we identify several risks associated with them. First, we argue that the model facilitates the double claiming of CDR climate benefits by both the national government and the corporate investor, which risks mitigation deterrence by inflating the apparent scale of climate action. Second, we contend that CDR projects that count towards Global North countries’ climate targets cannot be considered additional and therefore should not be sold as carbon offsets. Finally, we argue that market-based CDR risks favouring large corporations and affluent governments able to pay for carbon removal and storage space, raising concerns about global climate justice.</p>}},
  author       = {{Christiansen, Kirstine Lund and Allesson, Jonas and Finkill, Guy and Fitzpatrick, Nick and Hougaard, Inge Merete}},
  issn         = {{1462-9011}},
  keywords     = {{Bioenergy carbon capture and storage; Carbon dioxide removal; Climate policy; Denmark; Sweden; United Kingdom}},
  language     = {{eng}},
  publisher    = {{Elsevier}},
  series       = {{Environmental Science and Policy}},
  title        = {{Undermining climate action? : Challenges of public-private co-financing of carbon removal in the Global North}},
  url          = {{http://dx.doi.org/10.1016/j.envsci.2026.104447}},
  doi          = {{10.1016/j.envsci.2026.104447}},
  volume       = {{183}},
  year         = {{2026}},
}