Climate Change Liability, Negative Emissions and Biodiversity Restoration

Abstract

This article is about climate liability and the stimulation of negative emissions through nature restoration. Such a measure can contribute to the reduction of greenhouse gas emissions, but can also lead to a restoration of biodiversity and of ecosystem services. In order to finance measures aimed at achieving natural negative emissions, the European Commission is considering introducing a system of carbon credits as part of the ‘Fit for 55’ program. This contribution investigates the advantages and disadvantages thereof and wonders about the nature and extent of the liability risks if, for example, nature is destroyed that is financed with carbon credits and which results in the release of stored co2. In that respect, attention is given to the Environmental Liability Directive. If the stimulation of natural negative emissions is also aimed at restoring biodiversity, in the event of a loss of nature, merely recouping the market price of a ‘carbon credit’ is insufficient to compensate the public for the damage done.