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TOP STORIES
FEATURE: EU weighs touchy question of whether to count international carbon credits towards CBAM
The EU is weighing how its carbon border adjustment mechanism should treat the international credits included in the carbon pricing schemes of other countries — with climate experts and industry representatives divided on whether these should be deductible from border fees.
BRIEFING: GB Energy risks being jack of all trades, master of none
The UK’s publicly-owned Great British Energy entity needs to narrow down its role in helping the country decarbonise, to avoid spinning too many plates and losing public support if it fails to produce compelling outcomes, industry experts said on Wednesday.
AMERICAS
US oil giant plans up to $30 bln of investment in ‘low-carbon’ projects
A US oil and gas company announced plans Wednesday to plough up to $30 billion in “low emissions opportunities” between 2025 and 2030, with almost 65% spent on reducing climate impact for third-party customers.
US senators suggest pollution import fee for China, other exporters
Two Senate Republicans are planning to introduce legislation next year that would have countries pay a pollution fee on certain imports into the US.
Washington’s Q4 carbon permit auction clears significantly below market expectations
Washington’s Q4 current vintage auction defied market expectations, clearing nearly 30% below the 2024 Allowance Price Containment Reserve (APCR) Tier 1 trigger price.
ARB bi-weekly offset issuance spikes with half DEBs-tagged
The number of new compliance-eligible offsets issued by California regulator’s ARB increased by nearly 250% over the last two weeks in comparison to the prior period, agency data released Wednesday showed.
US EPA earmarks $735 mln in grants for zero emission heavy-duty vehicles
The US EPA on Wednesday announced its allocation of more than $735 million in grant funding to support the purchase of zero emissions heavy-duty vehicles across 27 states.
US pitches $54 mln into blue economy technologies
The US announced grants totalling $54.3 million spread between four organisations to spur new coastal services and technologies, including carbon management.
US-based CCS developer unveils carbon credit offering for CO2 storage hub
A US-based carbon capture and storage (CCS) project developer on Wednesday announced an offering of forward offtake agreements for an industrial carbon storage hub estimated to generate 400,000 offsets annually.
Wyoming DOE-funded membrane-based CCS testing facility completed
A US national laboratory announced on Wednesday the completion of the largest membrane-based carbon capture testing facility that received over $62 million from the US DOE.
British Columbia lawmaker proposes reduction in imported renewable diesel credits
A BC legislator proposes to reduce the volume of Low Carbon Fuel Standard (LCFS) credits that are provided to imported renewable diesel producers, according to a draft bill seen by Carbon Pulse.
VOLUNTARY
Tech giants launch bid to buy 20 mln forest carbon credits by 2030
An advance market commitment for nature-based carbon removal, made up of a group of large technology companies, has launched its first request for proposals including methodology-related critera, as it aims to contract up to 20 million credits by 2030.
Frontier launches rock deposit challenge to advance carbon removal research
Buyers club Frontier will offer grants to support the identification of reactive rock deposits suitable for carbon removal (CDR) projects.
CDR funding platform lands $5 mln from Salesforce
A Stockholm-based climate funding platform has secured $5 million from US software giant Salesforce to scale early-stage carbon removal funding, the company announced on Wednesday.
Voluntary carbon credit standard partners with registry, exchange operators
A major voluntary carbon credit standard has signed two partnership agreements with registry and exchange operators aimed at enhancing the market by improving transparency, liquidity, and integrity in transactions.
Insurance startup launches risk monitoring services across full carbon lifecycle
A carbon insurance specialist company is now offering risk monitoring services across the full carbon lifecycle, it announced on Wednesday.
Growing attention, positive sentiment towards carbon removal technologies on social media -study
Public attention and positive sentiment towards carbon dioxide removal (CDR) technologies have grown significantly on social media over the past decade, according to a new study that analysed trends on Twitter from 2010 to 2022.
EMEA
Electrifying EU industry can reduce emissions by 78% -report
The electrification of European industries would see a huge cut carbon emissions from the sector based on existing technologies, while also improving the bloc’s competitiveness with energy independence and greater efficiency, according to a new report Thursday.
Bank warns that consensus around tight EUA market in 2026 could be blown off course
Consensus there will be sharp tightening in the EU ETS market in 2026 could be shocked when new free allocation numbers are published by the EU Commission, an investment bank has warned.
EU carbon prices to see “modest” recovery in 2025 -analysts
EUA prices will see a “modest” recovery in 2025, driven by a series of mildly bullish factors, a European investment said Wednesday.
Fears of a tighter EU ETS could soon prompt 2026-27 exposure hedging -analysts
Expectations of a tightening EU carbon market may prompt emitters to hedge their 2026-27 EUA exposure next year amid a project annual surplus.
Euro Markets: EUAs jump to 8-day high ahead of afternoon options expiry before easing back
European carbon prices ended Wednesday modestly firmer after prices rose sharply ahead of the expiry of the December options contract and fell back afterwards, while weekly positioning data showed investment funds continued to add to their net long positions last week, amassing the biggest bullish bias in 20 months.
EU funds misaligned on net zero claims despite ESG labels -report
Nearly 90% of EU funds using ESG or climate-related names are misaligned with the path to net zero emissions, and many rely on fossil fuel investments, according to a study released on Thursday.
IEA pitches ‘new industrial masterplan for Europe’ focused on clean tech
Europe still has a chance to compete with China and the US on clean technologies like offshore wind, power grids, heat pumps, and electrolysers, provided it can make the right decisions and act swiftly, according to the executive director of the International Energy Agency (IEA).
Scottish carbon removals developer to issue credits for North Sea storage project
A Scottish carbon removals company has signed a deal to permanently store 50,000 tonnes of CO2 in a depleted North Sea oilfield, it announced on Wednesday.
Global consultants to manage world’s first gas-fired power station with CCS
An international consultancy has secured a contract to manage the world’s first gas-fired power station with carbon capture and storage (CCS), which could sequester up to 2 million tonnes of CO2 a year, and received financial approval on Tuesday.
EU conservatives pushing to cancel CO2 fines for carmakers
Lawmakers from the centre-right European People’s Party (EPP) have called on the EU to find ways of avoiding fines for carmakers that fail to meet their CO2 reduction targets in 2025, saying “a realistic approach” is needed on EU climate goals.
Zimbabwe’s sovereign REDD baseline is transparent, complete, say UN assessors
A UN technical assessment team has concluded that the data and information used by Zimbabwe to construct its official forest carbon baseline are transparent, complete, and aligned with UN REDD guidance, potentially opening the country up to future sovereign forestry credit issuances.
US carbon project developer targets Turkiye with new joint venture
A US-based project developer has created a joint venture with a Turkiye-based sustainability company to scale carbon trading in the country, they said Wednesday.
ASIA PACIFIC
INTERVIEW: Climate plan will force New Zealand to rely more on overseas carbon credits
The New Zealand government’s second Emissions Reduction Plan (ERP) means it will have to rely more on overseas carbon credits to meet its 2030 Nationally Determined Contribution (NDC), according to Labour Party MP and spokesperson on climate change Megan Woods.
Malaysian carbon exchange expands offerings to include Gold Standard-certified credits
The Bursa Carbon Exchange (BCX), subsidiary of Bursa Malaysia, has initiated trading of Gold Standard-certified voluntary carbon credits, it announced Wednesday.
Asia Pacific shipping sector faces 100 Mt/year CCS challenge, report finds
Ships may have to transport some 100 million tonnes of CO2 annually between jurisdictions by mid-century, which will require huge advance efforts in terms of funding and other preparations, according to a report released Wednesday.
Hong Kong govt advisors say two-way link with China crucial for carbon hub status
An advisory body to the Hong Kong government has outlined the main steps needed to establish itself as a major carbon trading hub, focusing on securing a position as a link between Mainland China and the global market.
Korean researchers find copper-zinc metal mix can put captured carbon to use
Researchers have found a potential new way of using CO2 to create valuable products such as fuel, a Korean university announced on Wednesday.
Large investors in $2.82-bln bid to take Asian renewable energy, carbon project developer private
A consortium of large investors has bid to take one of Asia’s largest carbon offset project developers private.
AVIATION
CIX to launch CORISA carbon credit spot contract
Singapore-based Climate Impact X (CIX) Thursday announced plans to launch its first standardised physical spot contract for Eligible Emissions Units (EEUs) under the CORSIA international aviation offsetting scheme.
Growth in SAF production ‘disappointingly slow’ -IATA
The production of sustainable aviation fuel (SAF) is growing in volume, but at a very slow rate, industry association International Air Transport Organisation (IATA) said this week.
BIODIVERSITY (FREE TO READ)
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Biodiversity target-setting gains momentum as big companies look beyond carbon
Environmental corporate commitments have broadened over the past couple of years, driven by an unprecedented increase in biodiversity-related target setting among some of the world’s biggest companies, according to global consulting firm McKinsey.
INTERVIEW: Biodiversity credit offsets require “unprecedentedly strict regulation”
Biodiversity credit markets are unlikely to be effective for nature if they function as offsets, as they will require an excessive amount of regulation to check they are achieving credible gains for nature, according to a group of UK academics.
Swiss company, Swedish non-profit to develop nature framework for biodiversity investments
A Switzerland-based advisory company and a Swedish non-profit have partnered to develop a framework to ensure investments towards a soon-to-be-established biodiversity fund lead to positive outcomes for nature, potentially targeting biodiversity credit projects.
Financiers flag how policy can spur nature action
Action on nature could be boosted by blended finance, sending whole-of-government signals, and larger transactions, financiers said during a UN Environment Programme Finance Initiative (UNEP FI) event in Switzerland on Tuesday.
Australian invertebrate extinctions laying waste to govt’s protection pledge, study finds
Between 1-3 Australian insects and other native invertebrate species are becoming extinct every week, according to a peer-reviewed study published this week, revealing the country’s biodiversity crisis is far greater than previously recognised.
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EVENTS
Carbon Forward Middle East – Jan. 16-17, Abu Dhabi – Announcing Carbon Forward Middle East in Abu Dhabi, a great new event to explore carbon markets in the MENA region. We’ll be releasing more details about this conference soon. For now, put Jan. 16-17 in your calendar and email info@carbon-forward.com to express interest in attending, speaking, or sponsoring.
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- Event Coordinator, Carbon Forward – Remote (UK)
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BITE-SIZED UPDATES FROM AROUND THE WORLD
INTERNATIONAL
Climate funding – Austria’s finance ministry has signed an agreement with the Inter-American Development Bank (IDB) to contribute €1 mln to the IDB’s Nationally Determined Contributions (NDCs) Pipeline Accelerator Trust Fund (ACL). The funding will allow ACL to continue supporting small and vulnerable nations while significantly increasing its emphasis on climate adaptation. This includes greater investments in nature-based solutions, the circular economy, blue and green economies, and e-mobility, in addition to gender equality. The ACL’s work advances the IDB’s climate change strategy through innovative financial instruments like debt-for-nature swaps and climate conversions. For example, in Honduras, it supports sustainable mangrove management on the Pacific and Atlantic coasts by strengthening the capacities of small producers, SMEs, and organisations in fishing, aquaculture, and tourism, while improving their access to financing.
EMEA
‘No cherry-picking’ – Brussels is calling on EU member states not to allow the UK deeper access to the bloc’s electricity markets, despite industry warnings of higher energy bills for consumers and a slower net zero transition. In a document setting out policy positions on the upcoming “reset” of EU-UK relations, the European Commission said that its “no cherry-picking” principle towards the UK should apply equally to electricity trading. The advice is contained in a working paper seen by the FT setting out the bloc’s defensive interests ahead of next year’s EU-UK negotiations, but flies in the face of calls for deeper energy trading cooperation from the renewables industry on both sides of the channel. These include calls for Brexit energy trading arrangements to be rewritten in the context of a green energy hub in the North Sea, with significant offshore wind potential.
Risky transitions – A disorderly transition to net zero emissions could hit UK pension fund returns with up to 14% declines within the next five years, and 30% by 2050, according to research by technology and risk management solutions company Ortec Finance. Looking at the UK’s top 30 pension funds, Ortec found that real estate and equities, which account for nearly a third of pension fund portfolios, are the two most vulnerable asset classes. Real estate is exposed to long-term physical risks from climate change, and equities are vulnerable to short-term transition risks. Physical risks could slash returns in both asset classes by around two-thirds by 2050, it found. Unrestrained increases in carbon emissions increase the level of physical risk further, leading to severe financial impacts by the mid-2030s.
Good deal(s) – Saudi Electricity Company has signed several agreements with various government entities to strengthen cooperation and expand investments in environmental conservation, during the UNCCD COP16 in Riyadh, a press statement said. Under the agreements, the entities will aim to promote sustainability knowledge, encourage sustainable practices, promote biodiversity, and preserve vegetation. They also unify efforts in wildlife conservation, particularly for endangered species and biodiversity habitats, restore mangroves, and explore the benefits of carbon credits. The electricity company is also planning to plant 2 million trees to preserve biodiversity and vegetation cover and collaborate on green opportunities grants, the statement added.
CO2 export in Germany – Tree Energy Solutions (TES), a Belgium producer of electric natural gas (e-NG) derived from green hydrogen, is progressing its green energy hub in Wilhelmshaven, Germany, with the development of a liquid CO2 export terminal. The CO2 export terminal will serve as a hub for receiving CO2 captured from emitter sites and transported by rail or pipeline to Wilhelmshaven. It will handle and interim store CO2 for export to storage facilities in the North or Baltic Sea, or transport it to countries with an abundance of renewable energy sources for e-NG production. Future phases of the hub will introduce an autothermal reformer and a green power producing facility. (Offshore Energy)
Overstretched ambitions – BP and Shell spent a combined $18 bln over five years to become major electricity sector players but are now reining back their ambitions to escape the ‘valley of death’ after poor progress and widespread scepticism, the FT reports. In 2019, Shell set out to become the world’s largest electricity company, while BP set out its own bold transition plan the year after, but after a few years of heavy spending and a change in CEOs, BP and Shell’s current management teams have conceded they may not possess such as advantage as originally hoped for renewable electricity, or deep enough balance sheets. BP’s share price is down over 16% this year, while Shell’s is nearly 2% lower. The companies are caught in the ‘valley of death’ between their traditional pro-fossil fuel shareholders and a new set of pro-climate investors, said one energy CEO. Shell has sold its electricity retail business in the UK, the Netherlands, and Germany, withdrawn from the Chinese electricity market, and is no longer seeking new offshore wind projects, while BP this week said it had placed its offshore wind assets in a JV with Japanese partner Jera, allowing it to halve its expected capital expenditure on offshore wind by the end of the decade and move any future debt off its balance sheet. However, the two are still committed to their solar, electric vehicle charging, and power trading businesses. The wider industry is unlikely to miss them, say some renewable energy stakeholders who said they lacked the cost discipline of utilities and smaller developers, overpaid for assets, and tried to squeeze the supply chain in an effort to succeed.
ASIA PACIFIC
Maiden funding – Indian climate tech startup has raised $1.45 million in its maiden funding round led by Orios Venture Partners, it said in a statement. The proceeds will be used to launch a digital technology-powered platform for trading environmental assets, increase the workforce, and expand its operations globally. Founded in 2023, the Noida-based firm has launched its first product focused on carbon emissions and plans to roll out its exchange and registration platform in Jan. 2025. Sustainiam also plans to build a digital front for the registration process, making the submission of carbon assets and project documentation fully digital. The platform is currently trading more than 600 million kilowatt-hours (kWh) in carbon assets.
Remain robust – Australia’s Clean Energy Regulator has published the latest review of its gateway checks on human-induced regeneration projects by honorary Associate Professor Cris Brak, from the Australia National University. Like previous reports, Brack’s latest assessment said the CER’s use of multiple sources of data and in-situ measurements remain robust. It also said the re-stratification of carbon estimation areas is key to the integrity of the HIR portfolio. His and the regulator’s report findings contrast with peer-reviewed research published in October, part of a series of studies, that have consistently found the HIR method to be over-credited due to poor governance.
$120-million programme – UN’s International Fund for Agricultural Development (IFAD) and the Government of Nepal have signed a $120 million eight-year agreement to help people transition towards commercial and agroecological farming. The Resilient High-Value Agricultural Programme (R-HVAP) will introduce new methods to increase food production for 60,000 small-scale farming families in 80 municipalities across Lumbini, Karnali, and Sudurpashchim provinces. Recent shocks like COVID-19 and increasing climate change have further exposed the vulnerabilities of Nepal’s food systems. R-HVAP will help farmers adopt market-oriented agroecological practices through five-year, locally developed plans and also support the development of irrigation systems, water storage facilities, post-harvest processing facilities, and renewable energy technologies, IFAD said in a statement.
Big tender – Australia has announced 19 renewable energy projects that will add 6.4 GW to the National Electricity Market (NEM) selected via the Capacity Investment Scheme Tender 1. The 19 projects, made up of solar, wind and renewable energy combined with batteries, are located across New South Wales, Victoria, South Australia, and Queensland and mark a major step towards Australia’s target of 82% renewable electricity by 2030, the government said. The successful projects will also deliver some A$660 mln ($420 mln) for community development initiatives, A$280 mln for First Nations benefits, and over A$14 bln invested in local suppliers and businesses. Bids are now coming in for the third and fourth tender rounds of the CIS, which opened last month. The scheme is expected to spur development of 32 GW of solar, wind, and energy storage projects by 2030.
They’ve done it again – A group of Japanese companies have signed an MoU with Ehime Prefecture to promote the use of generating carbon credits in the J-Credit scheme in the forestry and agricultural sectors. Themix Green, the Iyo Bank, Ehime Bank, and Green Carbon will promote the use of biochar application on farmland, and the use of mid-drying period in rice cultivation, according to the agreement. It is the latest in a spree of agreements Green Carbon has signed to pursue the creation of nature-based carbon credits.
Indonesia going nuclear – A member of the Indonesia National Energy Council has mapped out 29 sites for nuclear power plant development, according to Antara News. Agus Puji Prasetyono also said he had set a date of 2032 for operation and locales cannot be close to volcanoes or fault lines. The nation has been considering nuclear power, likely small modular reactors (SMRs), in addition to a ramp up of gas and more investment in its abundant geothermal assets. Currently over 60% of power comes from coal, and thanks to this and a reliance on coal for mineral processing, such as nickel, Indonesia’s net-zero date is 2060, not 2050. He described nuclear power plants as “critical” in stabilising the grid and reaching net zero. “Without nuclear power, we will not be able to achieve our economic growth target,” he said.
AMERICAS
Corporate climate quiet – California regulator ARB has decided to delay enforcing penalties for the state’s corporate climate reporting law, E&E News reported Wednesday. SB 253 required large companies to start reporting their greenhouse gas emissions in 2026, but ARB stated it will not penalize companies in 2026 for incomplete reporting, provided they make a good faith effort to retain all relevant data.
PA in or out – Two Pennsylvania lawmakers, Reps. Jim Struzzi and Dallas Kephart, seek support for legislation to eliminate the regulation tying Pennsylvania to the Northeast Regional Greenhouse Gas Initiative (RGGI), the Indiana Gazette published Wednesday. In a memo circulated among legislators for the 2025-26 term, they argue that RGGI risks jobs and economic stability by potentially closing coal-fired and natural gas plants, and increasing electric bills. The lawmakers also claim that the regulation has already led to plant closures and significant legal fees for the state. They propose that future similar proposals should require legislative approval to protect energy consumers and save on litigation costs.
Delay for natural gas – The California Public Utilities Commission is proposing to delay its vote on a plan to close the Aliso Canyon natural gas storage facility until Mar. 31, E&E News reported Wednesday. The vote, originally scheduled for Dec. 19, aims to address the future of the facility, which was the site of the largest natural gas leak in U.S. history in 2015. The Commission cited the need for more time to thoroughly deliberate on the decision and handle any unforeseen issues. The extension is intended to ensure a careful and comprehensive consideration of the proposed closure plan.
Public comment – The Washington Department of Ecology (ECY) held a workshop on the Clean Fuel Standard rulemaking on Wednesday, the last before the informal public comment period closes on Dec. 13. ECY staff outlined the most recent changes in draft language, and addressed concerns about the state of the market and low credit prices. The latter is due to the generation of credits in the CFS programme outpacing the generation of deficits and entering the market more quickly than anticipated, said Abbey Brown, ECY staff. Some stakeholders, including from the American Biogas Council, commented that ECY must be cautious in aligning with California’s programme, as that is more mature and has different market incentives.
US Geothermal – The US DOE’s Geothermal Technologies Office is supporting five communities in installing geothermal heating and cooling systems. Selected project locations and leads include Ann Arbor, MI, led by City of Ann Arbor, awarded $10 mln; Chicago, IL, led by Blacks in Green, awarded $9.9 mln; Framingham, MA, led by Home Energy Efficiency Team, awarded $7.8 mln, Hinesburg, VT, led by GTI Energy, awarded $3M; and Shawnee, OK led by the University of Oklahoma, awarded $7 mln.
Liberty in laundry – The US House passed a bill Tuesday that would restrict the US DOE’s ability to create energy conservation standards for laundromats. The bill, known as the Liberty in Laundry Act (HR 7673) and authored by Rep. Andrew Ogles (R-TN), would prohibit the agency from prescribing or enforcing energy standards for “clothes washers” unless they are technologically feasible and economically justified, are not likely to result in additional net costs to consumers, and will result in significant energy conservation. The bill passed 215-200, with all House Republicans and six House Democrats voting in favour.
DAC in Brazil – German Direct Air Capture (DAC) developer DACMA and Spanish energy company Repsol have successfully launched an industrialised DAC system in Porto Alegre, Brazil, at the Pontifical Catholic University of Rio Grande do Sul (PUCRS). Built in Hamburg and shipped to Brazil, the system captures 300 tonnes of CO2 annually, marking the first facility of its kind in South America. This milestone follows a smaller, 15 t/yr prototype system activated in Apr. 2024, which demonstrated the technology’s feasibility. DACMA aims to expand its carbon removal capacity to 5,000 tonnes annually through a project in Salvador de Bahia, supported by a feasibility study and a strategic agreement. Repsol became a DACMA shareholder in Oct. 2023. (Carbon Herald)
Renewed efforts – Brazil’s Senate, the upper house of the national congress, approved on Tuesday a bill (PL 327/2021) to establish the Energy Transition Acceleration Program (Paten), aimed at encouraging proposals to replace polluting energy sources with renewable ones. The text will now return to the lower house, the Chamber of Deputies, for its consideration. Companies participating Paten will be eligible for resources from the national Climate Fund and can renegotiate burdensome debts with their creditors via the state, conditional on investing in sustainable development projects. Proposals eligible for Paten include infrastructure, renewable energy, and research and development projects that yield socio-environmental benefits or mitigate environmental impacts. Priority will be given to renewable fuels initiatives such as those involving ethanol, bio-kerosene for sustainable aviation fuel, biodiesel, biomethane, low-carbon hydrogen, energy with carbon capture and storage, and solid waste. Nuclear energy, biogas, natural gas, and ammonia production have been granted priority status by the Senate’s rapporteur via an amendment as well.
VOLUNTARY
Tricks of the trade – DeSmog and The Good Men Project highlight how major oil and gas companies are increasingly using advertising and PR campaigns to promote carbon capture and storage (CCS) as a solution to climate change. These ads, created by prominent agencies, present CCS as a viable technology to reduce emissions, often with simplified messaging and a focus on innovation, while minimising the role of fossil fuels. However, CCS remains largely unproven at scale, capturing only a small fraction of global emissions. Critics argue that these campaigns serve to delay meaningful climate action, allowing fossil fuel companies to continue business as usual under a “greenwashed” narrative. Research reveals significant lobbying efforts by oil firms, paired with these campaigns, to maintain their influence over climate policies. Examples include:
- ExxonMobil’s collaboration with BBDO on campaigns presenting CCS as a future solution, despite internal doubts about its feasibility.
- Chevron’s TikTok ads aimed at Gen Z and Valero’s video campaigns promoting carbon pipelines.
- The Pathways Alliance’s Canadian ads portraying CCS as key to “carbon-neutral extraction,” which faced scrutiny for misleading claims.
Critics contend that such ads mislead the public about the viability of CCS while deflecting attention from the fossil fuel industry’s continued emissions and resistance to transitioning away from oil and gas.
iMpRoVements – CEEZER has introduced a new real-time monitoring, reporting, and verification (MRV) functionality to enhance transparency in the voluntary carbon market. Partnering with three tech providers – Cula, Mangrove Systems, and Kanop – the Berlin-based platform aims to provide real-time, reliable data to address information gaps and support informed climate investments. The MRV integration delivers project-specific impact data, improving trust and enabling fair pricing by reducing uncertainties. (Carbon Herald)
Partnership extended – Carbon Trade Exchange (CTX) has announced a two-year extension to its partnership agreement with the UNFCCC CDM registry that went live in 2017. Under the agreement, buyers have been able to access wholesale priced UNFCCC CDM Certified Emissions Reductions (CERs) from many project types and countries, some of which are unique to the CDM programme. CTX is the only Exchange that can trade CDM CERs and CTX CERs electronically. At the start of December, CTX had listed over 2 mln CDM CER credits directly from the CDM Registry (valued over $3.28 mln) plus an additional 1.12 mln CTX UN CERs in its three national registry accounts (UK, Dutch, EU, and Australia) valued over $1.66 mln.
Recalling failures – International NGOs Human Rights Watch (HRW) and SOMO have penned an op-ed in Aljazeera raising concerns about the future of Article 6 carbon credit markets, citing abuses they have documented in the Voluntary Carbon Market (VCM). SOMO raised the alarm over sexual abuses at the Kasigau REDD+ project in Kenya, while HRW documented alleged discrimination against Indigenous communities at the Southern Cardamom REDD+ project in Cambodia. The human rights groups reiterated previously raised issues with standard-body Verra’s complaints system, saying that rather than delivering accountability, they compound human rights abuses by ignoring community members reporting harm. The op-ed warned of the risk that increased carbon trades under Article 6 may harm people further.
INVESTMENT
More funding secured – CarbonX, a Dutch startup, has secured a €4-mln extension to its €10-mln growth funding round, co-led by Energy Transition Fund Rotterdam, Innovation Industries, and Borski Fund. The fresh investment will help the company scale battery testing capabilities, secure initial offtake agreements expected by mid-2025, and prepare for a feedstock mixing facility at the Port of Rotterdam. Additionally, CarbonX is conducting feasibility studies for a 20,000-ton-per-year production line in Europe and the US. Founded as a spin-off from Delft University of Technology, CarbonX said it is tackling critical supply chain challenges in the battery industry, where 95% of graphite – an essential anode material – is sourced from China. By developing a sustainable, locally produced carbon anode material, CarbonX offers a cost-efficient and high-performance alternative that reduces energy consumption and environmental impact. The company’s innovative material, produced through a unique emulsion feedstock process, integrates seamlessly into existing carbon black manufacturing plants. This results in a novel 3D porous structure that enhances lithium-ion transfer and compressibility for higher energy densities, enabling faster charging and longer battery lifespans.
SHIPPING
Shipping insets – DP World has launched a new carbon insetting programme to help UK shippers tackle their Scope 3 emissions. The company’s new Port Carbon Inset Programme is designed to help companies tackle hard to reduce Scope 3 emissions in their supply chain, and will be offered to UK importers from Jan. 1. DP World will offer 50kg CO₂-equivalent of carbon credits for every loaded import container they move through its UK terminals at Southampton and London Gateway. These credits will be generated through its subsidiary, Unifeeder, which deploys incrementally lower-carbon fuels across its North Europe shipping network. The programme is set to run for six months, with the independently certified credits issued quarterly.
AND FINALLY…
Kicking into high gear – The FC Barcelona football team has this month put in place an ‘eco-charge’ of €0.50 on tickets for the Barca Immersive Tour at the club’s museum, in support of net-zero goals. The initiative is led by the FC Barcelona Sustainability Department in partnership with Artemeter, an investor that channels finance to carbon projects.
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