Ocean carbon removal projects lack incentives, hindering climate action, new report reveals.
The article discusses how current emissions trading systems focus mainly on forest-based carbon removal but are limited in including ocean-based methods. While some programs like the New Zealand ETS allow afforestation projects, ocean projects like blue carbon are not included. In the US, the 45Q tax credit program is the biggest support for Negative Emissions Technologies, but ocean-based removals are not yet covered. The research provides insights into these systems and projects related to ocean carbon removal, highlighting the need for more inclusion of ocean-based solutions in carbon markets.