The Group of Twenty (G20) includes the world’s largest fossil fuel producers and consumers. Deep transformations in energy-consuming behavior and technology and widespread enhancement of carbon sinks are necessary for these countries to achieve net-zero emissions in alignment with Paris-compliant temperature limitation thresholds. However, policies that focus on actions to enhance carbon sinks are largely lacking. To address this gap, we propose a phased policy approach that starts as a technology mechanism and leads toward balancing the rates of carbon extraction and deposition from and to the geosphere, implemented according to fossil carbon extraction and supply. Increasing climate action on the supply side of global fossil energy markets can enable new forms of cooperation between major fossil fuel producers and users. Such cooperation can accelerate and enhance climate ambition alongside efforts to price carbon emissions.
