Contract Design and Enforcement in Carbon Management

To mitigate climate change, carbon needs to be removed from the atmosphere and stored for thousands of years. Currently, carbon removal and storage are voluntarily procured, and longevity of storage is inconsistently defined and regulated. Clauses can be added to procurement contracts to require long-term management and increase the durability of storage. Well-designed and properly enforced contracts can pave the way to future regulation for long-term carbon management.