The inaugural Oxford Symposium on the “Carbon Removal Budget (CRB): Bridging Science, Equity, and Innovation” was held at Rhodes House, Oxford, and brought together researchers, policymakers, and industry leaders to explore the evolving role of carbon dioxide removal (CDR) in global net-zero strategies. Recognising CDR as a finite yet essential resource, the symposium examined how the Carbon Removal Budget could serve as both a conceptual framework and practical tool for forecasting, allocating, and governing global CDR capacity.
The day began with arrivals and opening remarks from Dr Ben Caldecott, followed by a primer on the Carbon Removal Budget delivered by Dr Injy Johnstone. Plenary Session I investigated how the CRB could be embedded into policy and governance, featuring contributions from Dr Alice Evatt and colleagues on CDR targets as policy mechanisms, and from Jacopo Bencini on mainstreaming the CRB across UN and corporate net-zero frameworks.
A morning refreshment break preceded Plenary Session II, a fireside chat on growing corporate demand for carbon removal, moderated by Dr Johnstone and featuring experts from AFRY, the Green Finance Institute, Be Zero, Climeworks, and the New Climate Institute.
The programme then split into two parallel sessions. Session A, moderated by Sindi Kuci, focused on justice and governance, examining the equity implications of carbon removal budgeting across Global South contexts. Presentations explored themes including racialised and geographic power dynamics, equitable implementation pathways, and visions for a just CRB framework. Session B addressed institutional and financial innovation, highlighting how carbon removal budgeting could shape commercial markets, banking practices, and optimised CDR portfolio design.
After a networking lunch and afternoon break, Plenary Session III assessed the regulatory integration of CDR across the UK, EU, and India. Speakers discussed embedding removals into compliance markets such as the UK ETS, rethinking legal structures for EU climate targets, and developing integrated policy and finance models to scale CDR while safeguarding equity and environmental integrity.
The symposium concluded with closing remarks from Dr Ben Caldecott, Sebastian Cross, and Dr Injy Johnstone, followed by a drinks reception and dinner at Rhodes House. The event successfully convened an interdisciplinary community to advance research, policy alignment, and equitable governance of the emerging Carbon Removal Budget.