Summary/Abstract
This paper looks at the implications that an equity perspective could have on national and regional obligations for negative emissions and the respective timings of net-zero targets. It assesses the implications of allowing the international transfer of CDR among regions, and shows that net-zero targets still need to be adjusted substantially if such transfers could be used to achieve them. The paper also illustrates the potential carbon losses an inadequately designed market could engender by assuming five different levels of loss. Through this analysis, it highlights the risks for global efforts to limit warming if market rules, modalities and procedures are not adequately designed to safeguard against the loss of carbon, and if a distinction between domestic emissions reductions, domestic removals and removals purchased from abroad is not provided in national targets.