Prosets: a new financing instrument to deliver a durable net zero transition

Eli Mitchell-Larson () and Myles Allen
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Eli Mitchell-Larson: University of Oxford
Myles Allen: University of Oxford

Climatic Change, 2022, vol. 174, issue 1, No 15, 13 pages

Abstract: Abstract Interest in carbon offsetting is resurging among companies and institutions, but the vast majority of existing offerings fail to enable a credible transition to a durable net zero emission state. A clear definition of what makes an offsetting product “net zero compliant” is needed. We introduce the “proset”, a new form of composite carbon credit in which the fraction of carbon allocated to geological-timescale storage options increases progressively, reaching 100% by the target net zero date, generating predictable demand for effectively permanent CO2 storage while making the most of the near-term opportunities provided by nature-based climate solutions, all at an affordable cost to the purchaser.

Keywords: Carbon removal; Durable net zero; Compensation claims; Carbon credit (search for similar items in EconPapers)
Date: 2022
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DOI: 10.1007/s10584-022-03423-x

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