Carbon-capturing plan one set up brings accolades (7)
I believe the answer is:
encomia
'accolades' is the definition.
(plural of encomium - an act of praising someone)
'carbon-capturing plan one set up' is the wordplay.
'carbon' becomes 'C' (C is the chemical symbol for carbon).
'capturing' indicates putting letters inside.
'plan' becomes 'aim' (aiming is a kind of planning).
'set up' shows that the letters should be reversed in order.
'aim'+'one'='aimone'
'c' going within 'aimone' is 'aimocne'.
'aimocne' back-to-front is 'ENCOMIA'.
'brings' is the link.
(Other definitions for encomia that I've seen before include "very good reviews?" , "tributes" , "Eulogies" .)