Geological Net Zero: A Proposal for a Simple and Globally Effective International Agreement on Fossil Carbon – COP26
Author: Patrick Portolano
Date: 24 October 2021
Document type: Foundational paper
Language: English
Length: 27 pages
Abstract
Published ahead of COP26 in Glasgow, this foundational paper introduces Geological Net Zero (GNZ), a proposed framework for bringing fossil carbon extraction into balance with permanent geological carbon sequestration.
The central proposal is that fossil carbon producers should assume responsibility for the carbon they extract and place on the market, rather than leaving responsibility exclusively to downstream consumers or national emissions policies.
The paper proposes a progressive obligation to geologically sequester quantities of carbon equivalent to those extracted, under international supervision and within a timetable consistent with the global carbon budget.
Main Contributions
1. A geological carbon balance
The paper proposes an obligation to match fossil carbon extraction with geological carbon sequestration within the same year, once the transition to this objective has been completed.
2. Producer responsibility
Fossil carbon extraction industries would become directly accountable for the carbon they introduce into the active carbon cycle.
3. Industrial transformation
Hydrocarbon and coal industries could progressively evolve towards hydrogen production, geological carbon sequestration and other subsurface energy and carbon-management activities.
4. Consumer information and responsibility
A Fossil Carbon Footprint Indicator is proposed to inform consumers about the fossil carbon mobilized throughout the life cycle of purchased goods and services.
5. Carbon markets and climate finance
The paper explores physical, locally grounded carbon-sequestration obligations and introduces the concept of a Brown Climate Fund to redirect financing towards the management of fossil carbon.
Historical Context
This paper was prepared for COP26 in 2021. It represents an early formulation of Geological Net Zero and provides the historical foundation for subsequent developments of the GNZ Principle and GNZ Pact.
Its technological assumptions, quantitative scenarios and financing estimates reflect the information and perspectives available at the time of writing.
Full Publication
Original publication: 24 October 2021
Format: PDF, 27 pages
Download the full paper using the link provided below.
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