Newsletters > CP Daily: Monday January 13, 2025

CP Daily: Monday January 13, 2025

Published 03:57 on January 14, 2025  /  Last updated at 03:57 on January 14, 2025  /  Newsletters

A daily summary of our news plus bite-sized updates from around the world.

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TOP STORY

Net Zero Asset Managers climate financial group suspends operations following BlackRock exit

The Net Zero Asset Managers (NZAM) initiative – a group of financial institutions focussing on the transition to net zero – has halted some of its activities and launched a review, it announced late Monday, in the wake of high-profile exits and growing political headwinds.

CARBON FORWARD MIDDLE EAST

Top 5 trends shaping MENA carbon markets in 2025

The Middle East and North Africa (MENA) represent a small but increasingly dynamic segment of international carbon markets, with five trends from the past year defining regional engagement.

EMEA

Brussels closes ETS2 case against two EU countries, France still outstanding

France is the only country that has not yet responded to an infringement procedure launched last summer against 26 member states for failing to implement the EU Emissions Trading Scheme for transport and heating fuels (ETS2) into national law, Carbon Pulse can reveal.

WTO greenlights EU plans to phase out biofuels, recognises Indonesia’s concerns

The EU’s plan to phase out palm oil and crop-based biofuels is compatible with international market rules, but implementation has to improve, the World Trade Organization (WTO) has established, ruling on a five-year-old Indonesian dispute.

Energy transition firm to launch coal abatement project avoiding 600 MtCO2e

A Singapore-headquartered energy transition company will launch Africa’s first coal abatement project, which is expected to avoid some 600 million tonnes of CO2e, Carbon Pulse has learned.

Yara urges EU support for exports of CBAM-covered fertilisers

The EU carbon market is putting European fertiliser producers at a “double disadvantage” compared to Russia and the US, which have access to cheap energy, don’t pay for CO2 emissions, and won’t pay the full cost of the EU’s Carbon Border Adjustment Mechanism (CBAM) until 2034, said Yara CEO Svein Tore Holsether.

Saudi Arabia to create renewable energy-based carbon market

Saudi Arabia will soon establish a provisional carbon market that issues credits from renewable energy production, a senior official said on a live broadcast Saturday.

BRIEFING: UK mandate mounts pressure on aviation sector, as Heathrow accelerates SAF adoption

Heathrow Airport has increased its incentive scheme for sustainable aviation fuel, aiming to boost it to 3% of total jet fuel use in 2025 — but UK industry is under heat to meet growing need for the cleaner fuel, faced with challenges including project finance and access to resources.

UK could use nuclear to power turbocharged drive into AI

Nuclear energy could power the UK’s turbocharged drive to unleash a wave of artificial intelligence technologies across the country by 2030, according to the government.

EU aviation growth trajectory to deplete carbon budget by 2026 -report

Europe’s aviation industry is set to double passenger traffic by 2050, a trajectory “irreconcilable” with the region’s climate goals, with the sector on course to deplete its carbon budget as early as 2026, according to a report released on Monday.

UK-based chip manufacturer partners with ERW developer to offer carbon credits

A Cambridge-headquartered microcomputer producer has partnered with an enhanced rock weathering (ERW) company to offer carbon removal credits for buyers of its single-board computers.

Euro Markets: EUAs and European energy markets climb on one-two punch of geopolitical headlines

European carbon and energy prices jumped on Monday after reports that Ukrainian forces had targeted facilities on the Turkstream gas pipeline, the only remaining route for gas being shipped from Russia to Europe, and later on news that 10 EU states were calling for stiffer sanctions against Russian gas and LNG imports.

AMERICAS

LCFS Market: Credit prices stabilise into 2025 after a turbulent year

US clean fuel programme credit values across West Coast schemes held steady heading into 2025 following a year marked by record surpluses and historically low prices.

SCOTUS declines review of Hawaii supreme court decision in oil and gas lawsuits

The US Supreme Court declined two oil and gas companies’ requests for the country’s highest court to review a Hawaii Supreme Court decision that allowed lawsuits seeking alleged climate-related damages to proceed.

US EPA reports $78 bln of IRA, BIL funding appropriated since 2022

The US EPA provided the financial status Monday of more than 70 programmes funded by about $78 billion from the Bipartisan Infrastructure Law (BIL) and the Inflation Reduction Act (IRA).

New US alumina production nabs $8.7 mln federal funds to reduce CO2 process emissions

A California-based company specialising in industrial materials has received nearly $8.7 mln from a federal cost share award towards set up of a commercial demonstration plant to reduce the carbon footprint of the aluminium production process.

Wyoming senate bill profiles CO2 benefits, calls for net-zero repeal

Wyoming lawmakers introduced a bill in the state legislature on Friday, detailing plans to repeal low-carbon energy standard requirements.

High allowance prices to drive larger household savings, emissions cuts under New York’s new carbon market -report

New York’s new Cap-and-Invest (NYCI) programme could deliver significant financial benefits for households across the state, especially under a high allowance price scenario, while also advancing ambitious climate goals, according to a report released Monday.

CFTC: Specs trim carbon risk amid early year macro weakness

Producers add length while speculators take a step back from California Carbon Allowance (CCA), RGGI Allowance (RGA) holdings, while both groups made significant reductions to their Low Carbon Fuel Standard (LCFS) net length into start of year macro market weakness, according to delayed data released Monday from the US Commodity Futures Trading Commission (CFTC).

RGGI Market: RGAs battered for second week of 2025

RGGI allowances (RGAs) in the secondary market continued to lose momentum for the second week of the year, with the benchmark plunging 13.5% since the close of December.

LATAM Roundup: Southern neighbours press on with green transition amid US inauguration, RenovaBio market tightens

With the US presidential inauguration just one week away, heralding the return of former President Donald Trump, Latin American strides forward on carbon markets and energy transition contrast with the predicted pall over US climate policy.

300k carbon credits expected from new reforestation project in the Amazon

A Rio de Janeiro-headquartered carbon offset developer has teamed up with a Brazilian agricultural firm to restore 600 hectares of degraded land owned by the company in the Amazon rainforest, with plans to generate 300,000 carbon credits over the next few decades.

ACX Brasil handles $16 mln, nearly 4 mln carbon credits in first six months -media

The Brazilian subsidiary of international carbon exchange ACX, created through a partnership struck last year with Brazil’s B3 stock exchange, handled around R$100 million ($16 mln) in transactions involving nearly 4 mln tonnes of CO2 in its first six months of operation, according to local media.

ASIA PACIFIC

South Korea to provide $300 mln preferential loans for green transition investments

South Korea is seeking to provide preferential loans to small and medium enterprises (SMEs) that have green transition plans.

ID Market: IDX Carbon traded volume surpasses 1 MtCO2e, adds three more projects

Indonesia’s National Carbon Exchange (IDX Carbon) has seen a boost in trading volume in January, with three more projects being added to generate carbon credits.

South Korea to launch infrastructure fund for green marine fuel development

South Korea is planning an infrastructure fund worth one trillion won ($683 mln) to build an eco-friendly marine fuel supply chain by 2030.

AU Market: ACCU prices soften despite strong traded volumes as election campaign kicks off

Australian Carbon Credit Unit (ACCU) prices have dropped lower over the past week amid healthy volumes, but volatility and potential upticks could be on the horizon.

INTERNATIONAL

South Korea, Honduras sign REDD+ partnership

South Korea and Honduras have signed a deal to strengthen their collaboration on REDD+ projects, as Seoul seeks to extensively source forest-based carbon credits to meet its 2030 national climate targets.

Tailored climate finance policies seen key to emissions cuts, but barriers persist

Climate-related financial policies (CRFPs) have shown significant progress in reducing carbon emissions and boosting renewable energy production, particularly in advanced economies, though barriers remain in developing nations.

VOLUNTARY

VCM Report: Shell keeps up retirement spree, jump in North American prices keep voluntary market ticking over

Shell continued its voluntary carbon credit retirement spree last week to keep the market ticking over, amid a quiet start to the year that is relying on pockets of North American demand to prop up prices.

Buyers seek higher quality carbon credits, as market sees marginal boost in annual retirements -report

The voluntary carbon market saw marginally higher retirements in 2024, when taking into account newer registries, amid an underlying shift towards higher quality credits from buyers, according to new analysis of credit retirements published on Monday.

South Pole founders to launch new advisory firm for climate startups

Four South Pole co-founders, including former CEO Renat Heuberger, are set to launch an advisory firm later this month that will focus on scaling sustainability startups, they announced in a statement on the company’s new website.

DAC-based synthetic aviation fuels to redefine flight path to net zero -researchers

Direct air capture-based synthetic fuels could offer a cheaper and more comprehensive pathway to climate-neutral aviation by 2050 compared to carbon offsetting strategies, according to researchers.

Scientists propose marriage of ocean-based energy generation, direct air capture to put a dent in climate crisis

Combining ocean-based energy generation with direct air capture (DAC) could significantly reduce global CO2 levels and mitigate climate change, a new study has found.

New carbon insetting programme aims to tackle agri-supply chain emissions

A London-based regenerative agriculture initiative has launched a global carbon insetting programme designed to address emissions in agricultural commodity supply chains.

BIODIVERSITY (FREE TO READ)

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Consultancy pitches five next steps for UK biodiversity net gain

A consultancy executive outlined five potential next steps for ensuring the UK’s biodiversity net gain (BNG) policy achieves progress for nature, including a call for a shift in values, during a conference on Monday.

Australian researchers spell out the staggering cost of biodiversity protection

The cost of restoring all of Australia’s degraded flora and fauna as well as protecting its biodiversity would be a quarter of the nation’s gross domestic product (GDP) of 2022, a complex suite of calculations from a leading university has found.

TNFD sets sight on China as first bank in the country joins taskforce

Bank of China has become the first Chinese financial institution to join the Taskforce on Nature-related Financial Disclosures (TNFD) in a move expected to pave the way for enhanced corporate reporting in the Asian country.

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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. Coinciding with Abu Dhabi Sustainability Week and kicking off the day after IETA’s MENA Carbon Market Dialogue, we’re bringing together regional and international carbon markets experts to discuss opportunities and risks within MENA. The two-day event will be a must-attend for anyone working in, or wishing to explore, carbon markets in the region. Last chance to register

Calyx Webinar: 5 Ways to Minimize Environmental and Social Risk – Jan. 29 – As a carbon credit buyer you want to maximize your impact and minimize your risk. Join sustainable development experts as they share strategies for decreasing environmental and social risks in carbon projects so you can make informed purchasing decisions and investments. Register now!

Carbon Forward Asia – Mar. 4-5, Singapore – Our third annual Asian conference will once again be held in Singapore. Like at our past events, we’re excited to bring together experts from Asia Pacific to talk ASEAN markets, regional opportunities, developments in local and global carbon pricing, and all the topics you need to hear about across a stimulating two days. Register here

North American Carbon World (NACW) – Mar. 25-27, Los Angeles – The annual NACW conference addresses the most pressing issues in climate policy and carbon markets to the largest gathering of climate professionals in North America. NACW 2025 will dive into major new policies and developments that will shape and scale carbon markets and climate solutions with integrity and ambition. In addition to outstanding speakers, discussions, and insights, NACW provides premier networking opportunities with an active and engaged audience of carbon professionals. Join us for the content, community, and connections for successfully navigating the low-carbon landscape and advancing market-based climate solutions. www.nacwconference.com

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ADVERTISING BROCHURE

Carbon Pulse has published its 2025 advertising brochure and media pack, featuring updated offerings and prices. With that, bookings are now open for advertising on our website and in our newsletters.

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BITE-SIZED UPDATES FROM AROUND THE WORLD

EMEA

Chemicals closure – High energy costs and carbon taxes are driving the UK chemicals industry to extinction, according to Jim Ratcliffe, chairman of chemicals producer Ineos. His comments issued today accompany news of the closure of Grangemouth’s ethanol plant. The combination of high power prices and carbon taxes are claimed to add at least 10% to the price of ethanol when compared to producers in other parts of the world. “The price of energy for a plant such as this is five times higher than those in the USA,” says Ineos. “The UK cannot compete with such a huge disadvantage.” De-industrialising Britain achieves nothing for the environment — it just shifts those emissions elsewhere, he said. He called for a carbon trading regime that “supports industry and decarbonisation equally”. (the Times)

EV leader – Norway is on track to become the first country to phase out the sale of new fossil fuel cars, with the number of electric cars outnumbering those powered by petrol for the first time last year. In 2024, 88.9% of new cars sold in the country were EVs, up from 82.4% in 2023, data from the Norwegian Road Federation (OFV) showed. By contrast, in the UK electric cars made up only 20% of new car registrations in 2024, while in the US, the figure was just 8%. The Nordic nation aims for all new cars sold to be “zero emission”, starting at some point in 2025, while in comparison the EU aims to ban sales of new fossil-fuel cars by 2035, and the UK wants to prohibit their sale in 2030. Key to Norway’s EV success has been its penalisation of fuel fossil vehicles with higher taxes and registration fees, while VAT and import duties were scrapped for low-emission cars. Low-emission car owners could also benefit from free parking, discounted road tolls, and access to bus lanes. Norway now has more than 27,000 public chargers, versus 73,699 in the UK – a country 12 times bigger in terms of population. (BBC)

Gulf renewables – Engie is seeking to win the rights to build wind and solar farms in Saudi Arabia and the UAE as the Gulf region hosts large renewable energy auctions, Bloomberg reports. Engie is preparing to bid for four solar projects totalling 3 GW and for 1.5 GW of wind projects under the so-called round six tenders in Saudi Arabia, while the French utility is also waiting for the result of a tender for 1.5 GW of solar projects in Abu Dhabi. In Egypt, it’s part of a consortium building what will be a 650-MW wind facility — which should be Africa’s largest — and it’s also seeking to build a 1-GW wind project in the country by 2028.

CSRD debate – The German government’s letter sent to the European Commission to postpone the expansion of the Corporate Sustainability Reporting Directive (CSRD) by two years and exempt smaller and medium-sized enterprises (SMEs) from the new reporting duties altogether is creating uncertainty for stakeholders. Germany has not yet translated the CSRD into national law, missing the 2024 deadline, as the directive has been a victim of the coalition government’s collapse and sidelined by campaigns for the upcoming snap elections on Feb. 23. Many SMEs are actually more prepared to act on the regulation than the government’s warning may suggest – with nearly two-thirds of those surveyed by PwC saying they are well prepared for the CSRD’s expansion. (Clean Energy Wire)

Azoty’s woes – Poland’s largest chemicals company, Grupa Azoty, is exploring a sale of its German fertiliser business in a bid to improve its finances as it continues to struggle with cheap competition from Russia and Belarus, and high energy prices. CFO Andrzej Skolmowski told the FT the state-controlled company could return to positive ebitda this year, though he admitted Azoty still faced a liquidity shortfall and debt problems. In October, Azoty reported a third-quarter loss of 226 mln zlotys (€53 mln), compared with a loss of 743 mln zlotys in the same period a year earlier. Other European chemicals companies have been struggling too — for example, last year, ExxonMobil and Sabic closed some of their European ethylene facilities. Azoty’s woes have prompted the Polish government of Prime Minister Donald Tusk to demand much tougher EU restrictions on Russian and Belarusian exports of potash. However, the Poland-led drive for higher tariffs faces stiff resistance from southern EU countries and some other member states worried about production costs for their farmers.

Restoring Russia wetlands – The first nature and climate project in Russia to restore drained wetlands was registered on the country’s carbon unit registry last week, the registry announced. The project, fully financed by Unilever Rus in the Tver region, aims to reduce GHG emissions by boosting the humidity of drained peatlands, in order to help them better absorb carbon. It brings the added benefits of reducing the risk of fires and supporting biodiversity, the registry said. The project developers plan to complete re-watering in the wetlands this year, and deliver the first results on GHG reductions as early as 2026. They estimate a potential to reduce emissions by about 170,400 tCO2e over the next 10 years. The Russian registry now counts 49 projects.

New Tracker CEO – The Tracker Group, home of the financial think tanks Carbon Tracker and Planet Tracker, has appointed its first CEO, Christine Chow, bringing decades of experience in sustainable finance and impact investing, it announced on Monday. Chow has worked in executive leadership roles including at UBS, Credit Suisse, HSBC, Schroders, and Federated Hermes. She is chair of the board of the International Corporate Governance Network, which is led by investors with assets under management worth around $77 trillion. Chow joins the Tracker Group as it begins to bring its two brands closer together under the same leadership.

ASIA PACIFIC

Partnerships – Philippines-based International Rice Research Institute (IRRI) has partnered with Japanese agricultural machinery maker Kubota Corporation to explore effective strategies for managing rice crops while reducing GHG emissions, according to a statement. The alliance will focus on alternate wetting and drying (AWD) technique and rice straw removals, the release said. Meanwhile, Japan’s Sumitomo Forestry has teamed up with IT firm NTT Communications and a consultancy firm to support the creation, sale, and purchase of forest-derived J-Credits in the country, using the Morikachi platform.

Wetlands potential – Taiwan’s Ministry of the Interior (MOI) has said the government will continue to investigate the carbon sink potential of the island’s wetlands, as part of its effort to expand nature-based solutions. The National Park Service, a government agency under MOI, administers 25.4% of Taiwan’s total territory and has been conducting surveys on various types of carbon sinks for the national inventory report.

Rubber forest project – Shanghai-listed Hainan Rubber has signed a strategic cooperation agreement with Hainan Silan Low Carbon Investment to start a pilot project for rubber forest-based carbon sinks, it said in a release. The project, to be implemented in the rubber supplier’s 30,000 mu of rubber forests, will be conducted based on a methodology under Hainan’s provincial offset scheme.

Appeal – The Indian Biogas Association (IBA) has appealed to the government for corporate tax exemptions for compressed biogas (CBG) producers in the upcoming general budget, in order to scale investment in renewable energy. According to IBA data, the proposed tax waiver would result in huge revenue losses for the government but IBA argues that the short-term fiscal impact would be offset by long-term benefits, including increased private investment, job creation, and progress towards national renewable energy targets. The association said that tax relief would enable CBG producers to offer more competitive prices, and will accelerate the adoption of biogas in India’s energy mix. As well, it would promote the utilisation of agricultural residues in biogas production, offering an alternative to crop burning thereby addressing pollution concerns.

Green light  – Windlab, a subsidiary of Andrew Forrest’s Squadron Energy, has received federal environmental approval for its 800 MW Prairie Wind Farm in Queensland. The project is located on a cattle property some 340 km south-west of Townsville and will remove some 3 MtCO2e from Australia’s electricity generation profile per year, the company said in a statement. Prairie is part of the North Queensland Super Hub, an umbrella for multiple individually permitted wind, solar, and storage projects in the same region, expected to generate “multi-gigawatts” of renewable electricity.

Cut your emissions with us – Carbon Track Pakistan, a business intelligence firm, has partnered with consultancy Crowe Pakistan in a step to foster sustainability and help industries across Pakistan reduce their carbon footprints. Carbon Track’s AI-powered ESG platform will offer businesses a way to track and cut emissions effortlessly, the firm said in a LinkedIn post. With policies such as the EU Carbon Border Adjustment Mechanism (CBAM) expected to create significant challenges for the country, the collaboration will ensure that businesses can adapt, excel, and champion climate responsibility, the post added.

We will help you – Malaysia and Japan have agreed to develop projects on carbon capture, utilisation, and storage (CCUS), hydrogen power, as well as ammonia-fired gas turbines in power generation, to help Malaysia’s decarbonisation even as Japan aims to expand its presence in Southeast Asia to temper China’s economic dominance in the region, SCMP reported. Japan has also agreed to lend its expertise and support efforts by Sarawak energy firm Petros, in collaboration with oil major Petronas, to develop a sustainable source of hydrogen energy.

Big battery payday – Australian lithium player Vulcan Energy Resources told the ASX Monday it had produced the first battery quality lithium hydroxide monohydrate (LHM) from its European brine asset. Vulcan uses DLE, or direct lithium extraction, which is seen as the more environmentally conscious option as the brine is not pumped to the surface and left to evaporate in large pools. The company called this the first fully integrated, battery-quality LHM produced in Europe, from raw material to final product. It has otherwise been a busy day on the Australian Securities Exchange (ASX) for battery mineral players, with a lithium-tech minnow announcing a new-stage partnership with giant Mineral Resources, a graphite player receiving a $165 mln R&D tax rebate under the US Inflation Reduction Act (IRA), and a Greenland-focused explorer whose shares rose on President-elect Donald Trump’s threats to acquire Greenland, and announced former Australian foreign minister Julie Bishop as a newly hired advisor.  

AMERICAS

Political plot twist – Former deputy prime minister Chrystia Freeland is expected within the week to enter the race to lead Canada’s Liberal Party, according to the CBC. Freeland, who served as deputy prime minister and finance minister since 2019, stepped down from Prime Minister Justin Trudeau’s cabinet last month on the same day she was scheduled to present the government’s fall economic statement. So far, only three candidates have officially entered the race to replace Trudeau as the leader of the Liberal Party, with former Bank of Canada Governor Mark Carney also expected to announce his candidacy this week. The party will announce its new leader on Mar. 9.

Pipetime in Alaska – The state’s independent public corporation Alaska Gasline Development Corporation has reached an agreement with energy infrastructure company Glenfarne to advance the Alaska LNG project, Reuters reported Friday. Per the agreement, Glendarne will lead and fund the $44 bln project, which includes the Arctic Carbon Capture plant on the North Slope, the LNG export facility in Nikiski, and an 800-mile pipeline that will span the state. The project is expected to begin delivering natural gas in 2031 with exports following shortly thereafter. It will carry up to 3.3 bln cubic feet of gas per day from the North Slope to an export terminal south of Anchorage.

Sunny days – Origis Energy has secured funding for the Swift Air Solar project, a 145MW solar farm in Ector County, Texas. The facility will provide renewable power to Occidental’s direct air capture (DAC) facility, STRATOS. Construction is underway, with operations expected to start mid-2025. The project is part of efforts to integrate renewable energy with carbon removal technologies in the Permian Basin.

Environmental justice and mCDR – The US Bureau of Ocean Energy Management published its Environmental Justice Implementation Plan for 2025-29, which outlines the agency’s priorities for environmental justice planning, analysis, research, and engagement on issues such as marine CO2 removal (mCDR). The bureau will conduct an evaluation of the plan in practice through the outlined time period.

EPA payday – The US Environmental Protection Agency (EPA) announced $2.4 mln in funding to 24 small businesses for the development of environmental technologies. The companies selected for funding employ innovative approaches to tackle challenges, such as treating PFAS in biosolids, reducing GHG emissions from building materials, and developing environmentally safer chemical alternatives. Each business will receive $100,000 in Phase I funding to establish proof-of-concept for their proposed technologies over six months. The initiative, part of EPA’s Small Business Innovation Research programme, supports the creation and commercialisation of environmental technologies that advance the agency’s mission of protecting human health and the environment.

VOLUNTARY

Long-term deals – MSCI Carbon Markets has released an Off-take Price Tracker for nature restoration projects, tracking deals financed through long term off-take agreements for carbon credits, rather than the sale of credits in the spot market. It estimates that around 40 off-take agreements were struck for nature restoration in H2 2024, nearly doubling the number of deals in H1 2024. It found transaction types to vary involving blends of upfront capital and annual payments, with a range of pricing structures. Durations vary with some agreements involving commitments up to 20 years. While prices of long term-deals can often be three times higher than those in the spot market with an interquartile price of range $30-60, the analysts found.

Questions in Kenya – There are concerns about lack of local community involvement and potential over-crediting continue with the Northern Kenya Rangelands Carbon Project, following Verra’s temporary suspension of credits from the project in 2023. Managed by the Northern Rangelands Trust (NRT), local herders have said they remain unaware of the project’s mechanics and that key decisions are made without their input. Many learned of the carbon credits, some sold to Netflix and Meta, only after revenues had been flowing for many years, while the implementation of grazing restrictions has led to displacement and, in some cases, violent confrontations. Questions remain about who the money from credits actually goes to, and the lack of payback or contribution to local communities. Kenya’s parliament continues to debate a legislative bill to regulate carbon offset sales. (energynews)

Soil crediting – Gold Standard has announced the release of its Soil Organic Carbon (SOC) Model Requirements and Guidelines for a 30-day public consultation period. Feedback must be submitted by Feb. 12, 2025. Designed to complement the SOC Framework Methodology (SOC FM), the guidelines emphasise practical implementation while maintaining flexibility to accommodate diverse project contexts and objectives.

Newly digitalised – Verra has newly digitalised five new methodologies as part of its multi-year digitalisation initiative. The methodologies are as follows: VM0041, Methodology for the Reduction of Enteric Methane Emissions from Ruminants through the Use of Feed Ingredients, v2.0; VM0047 Afforestation, Reforestation, and Revegetation, v1.0; ACM0002: Grid-connected electricity generation from renewable sources, v21.0; ACM0002: Grid-connected electricity generation from renewable sources, v22.0; and AMS-I.D.: Grid-connected renewable electricity generation, v18.0.

Greenwashing risk – ESG scores are positively correlated with greenwashing cases, according to a new scientific paper, which also found them to mainly measure the apparent rather than the real environmental performance of companies. Greenwashing accusations are most prevalent among large companies with high ESG scores, it found, concluding that ESG scores are unsuitable for measuring real environmental impact. Thus, investors focusing on high ESG-rated companies may unknowingly increase their greenwashing risk exposure, and academics may use misleading information to assess greenwashing risk.

Forward looking – Project developer DGB said it aims to expand its pipeline this year to support its long-term goal of generating 500 mln verified units by 2030, in an annual report published Monday. It will introduce new initiatives in water restoration and renewable energy, complementing its growing portfolio of biodiversity and plastic credit projects, it said. The company is also actively pursuing ITMO deals.

Qatalyst – Standard Chartered, in collaboration with Engie Group, has launched Qatalyst, a due diligence platform tailored for the carbon finance market. Developed through Standard Chartered’s SC Ventures and Engie Group’s startup studio, the platform aims to simplify processes in carbon markets by streamlining the identification, assessment, and oversight of carbon abatement projects. Qatalyst is an enterprise-grade solution designed to enable transparent, objective, and data-driven decisions using advanced technologies, including AI-enabled tools. It enhances investment workflows, manages documentation, and ensures seamless information exchange while verifying the credibility and impact of projects. The platform also incorporates ethical practices, including the involvement of indigenous communities in project consent processes. (Fintech Global)

AND FINALLY…

Getting high on ESG – A federal judge of the Northern District of Texas ruled Friday that American Airlines violated federal law by using an investment manager that incorporated ESG strategies in the company’s retirement plan. The airlines had selected BlackRock to manage its $26 bln retirement plan with more than 100,000 beneficiaries. E&E News reported Monday that the judge determined that the airline breached its fiduciary duty “by failing to loyally act solely” in the best financial interest of the beneficiaries. Judge Reed O’Connor ruled that the selection of BlackRock harmed beneficiaries because BlackRock’s “ESG activism” dictated that “delivering financial performance was no longer enough.”

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