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TOP STORY
FEATURE: UK-EU ETS linking back on the table, raising cautious optimism ahead of talks
Recent news that the EU and UK plan to discuss the potential for linking their emissions trading schemes at a summit this spring sparked a flurry of buying that has driven benchmark UK Allowances to multi-month highs – but there’s a long way to go before any tangible agreement on a link-up can be made, analysts warn.
VOLUNTARY
VCM Report: CORSIA carbon futures slip as uncertainty continues to bite
Standardised CORSIA Phase 1 contracts slipped last week amid ongoing uncertainty around US participation in the scheme, even as liquidity on futures jumped, while credit retirements remained below the 2024 weekly average despite analysts forecasting a record year for the market on the demand side.
SBTi aims to release draft Corporate Net-Zero Standard for consultation in March
The Science Based Targets initiative (SBTi) intends to put the first draft of its new Corporate Net-Zero Standard up for two public consultations, establish expert groups to consult on key issues, and run pilot tests before it finalises the controversial revision by the end of this year, it said on Monday.
Nearly 150 organisations call for clarity on biomethane certificates in GHG Protocol
A total of 144 companies and trade associations globally have urged the leadership behind the GHG Protocol to clarify the role of market instruments for renewable gases in the organisation’s Scope 1 inventory, saying a rapid deployment of biomethane is needed to meet climate goals.
EMEA
EU risks falling short on its 2030 climate goal, warns European Commission’s in-house research arm
The EU is at risk of missing its 2030 climate goal of cutting net emissions 55% below 1990 levels, the European Commission’s Joint Research Centre (JRC) warned in a report that was quietly posted online just over a week ago.
EU’s NDC stuck in limbo, pending agreement on 2040 climate target
The European Commission says its forthcoming 2040 climate plan will “inform” the bloc’s next Paris Agreement commitment for 2035, but questions persist on how the figure will be decided, as no method has yet been agreed or even discussed publicly.
UK halves subsidies for Drax biomass, puts BECCS support under review
The UK has halved subsidies for Drax’s biomass power station from 2027, and is putting under review future government support for bioenergy with carbon capture and storage – the technology Drax is counting on to decarbonise its electricity generation.
Swedish CDR startup raises €5.1 mln to accelerate deployment of large-scale BECCS projects
Swedish CO2 removals (CDR) startup has raised SEK 60 million (€5.1 mln) in its first funding round to accelerate the deployment of large-scale bioenergy with carbon capture and storage (BECCS) solutions.
EU lawmakers continue pushing for flexibility on car emissions targets
The influential centre-right European People’s Party (EPP) is pushing the European Commission to introduce short-term measures to help automakers meet their emissions targets for cars.
Strong Swiss majority rejects environmentally responsible consumption initiative
Switzerland has rejected the proposed Environmental Responsibility Initiative to rein in the country’s consumption levels in line with planetary boundaries, with a strong majority of almost 70% in a popular vote held Sunday.
UK investment manager puts €50 mln into Spanish farmland regeneration
A British climate impact investment manager has launched a €50 million regenerative agriculture platform in Spain, aimed at converting existing farming practices from intensive cereal production to high-value pistachio and cherry tree crops, alongside livestock.
Carbon standard seeks feedback on unit system, forest methodology
A Paris-headquartered carbon standard last week opened consultations seeking stakeholder feedback on phasing out its unit system and refining a forest methodology.
Data centre boom risks derailing Europe’s emissions cuts -report
Surging electricity demand from new data centres could undermine Europe’s emissions reduction efforts, with power consumption projected to rise by up to 160% by 2030, according to a new report released Monday.
Uganda developer secures additional funding to scale forestry project
A California-based climate finance firm has made an early-stage investment in a forestry project in northern Uganda, which is projected to remove 17 million tonnes of CO2e from the atmosphere.
Euro Markets: “Tired” EUAs gap higher as colder weather forecast prompts jump in gas and power
EU carbon jumped on Monday morning, amid sharply higher energy prices after the latest forecasts showed colder weather across the region, boosting the call on thermal power generation, while UKAs rose to a new eight-month high.
AMERICAS
BRIEFING: Vermont unveils study of proposed cap-and-invest programme
Vermont officials unveiled a study of its proposed cap-and-invest programme Monday that detailed a menu of design options the state could adopt to help meet its climate goals, including adding a potential low carbon fuels standard.
RGGI Market: RGAs weak as uncertainty reigns amidst illiquidity, auction anticipation
RGGI allowances (RGAs) slipped in the last week as uncertainty from the Third Program Review continues to plague the market amidst limited liquidity, and market players began to position themselves ahead of next month’s auction, traders said.
INTERVIEW: Central America’s phased-in carbon markets chart unique course in the region
Central American countries’ attempts to sensitise the private sector to carbon pricing while building up public sector capacity via voluntary programmes have led to a unique, subregional model of carbon markets within Latin America, a Panamanian expert told Carbon Pulse.
Brazil’s development bank, forest service launch notice for new forest concessions
Brazil’s national development bank and forest service launched Monday a public notice for sustainable forest management concessions covering 453,000 hectares in the state of Amazonas.
LATAM Roundup: Compliance measures move forward across the region, potential setback in Colombia
Compliance markets will be key to bolstering carbon pricing in the region, Carbon Pulse heard last week, but Colombia’s way forward on long-delayed ETS plans is unclear following the sudden resignation of Environment Minister Susana Muhamad.
Canada flip flops on taxing overdue small business carbon tax rebates
The Canadian government has reversed its prior policy position and plans to tax the carbon rebate owed to small businesses over the last five years, a non-profit said Monday.
ASIA PACIFIC
Singapore, Marshall Islands submit NDCs by original deadline
Singapore and Marshall Islands on Monday announced their 2035 Nationally Determined Contributions (NDCs) under the Paris Agreement in time for original deadline – now pushed back to September as only a handful of nations made the early February goal.
ID Market: January sees increase in IDX traded volumes, but questions remain over int’l credits
Activity on Indonesia’s National Carbon Exchange (IDX Carbon) saw a jump in January, partly thanks to the commencement of international carbon credit trading on the platform, however questions linger over key elements of the scheme.
AU Market: ACCU prices slide as social licence issues take spotlight
The price of Australian Carbon Credit Units (ACCUs) fell below A$34 ($21.36) Monday as familiar integrity and social licence issues were raised in major newspapers over the weekend.
China expands electricity market coverage, deepens power sector reforms
China has integrated on-grid renewables into the nation’s electricity market as its latest attempt to deepen the country’s power sector reforms, a process expected to make the market more sensitive to carbon pricing signals.
Australian banks still committing billions of dollars to fossil projects -report
An activist shareholder group has run the ruler over the exposure to fossil fuels for Australian and international banks and found the numbers significant, but said ‘ordinary’ people may not realise the full extent of their banks’ lending activities.
Japan’s NYK signs five-year J-Credit purchase agreement
Japanese shipper NYK Line has struck an agreement to buy J-Credits from Mitsui generated from forestry projects in Hokkaido and Akita prefectures, it announced last week.
INTERNATIONAL
PREVIEW: Article 6 methodological work underway as focus switches to implementation
The Supervisory Body for the Article 6.4 mechanism (SBM) will meet for the first time this week since the historic carbon markets agreement at COP29 in Baku, with implementation on the agenda as the UN body seeks to push forward with key methodological work for Paris Agreement carbon crediting.
Global wind and solar capacity expands in 2024, but project delays persist, G7 falls behind -report
The global pipeline of utility-scale solar and wind projects grew by more than 20% in 2024, yet sluggish implementation – notably from the world’s richest countries – continues to hinder progress towards renewable energy targets, according to a new report.
BIODIVERSITY (FREE TO READ)
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German nature tech firm secures €5 mln to develop risk management platform
A Germany-based nature tech company has raised €5 million in seed funding to advance its platform aimed at enabling companies to assess and manage their environmental impacts.
Muhamad steps down as Colombian environment minister
Susana Muhamad has resigned as Colombian environment minister following a protest over a cabinet appointment, with one expert saying the move could be a “major distraction” at resuming COP16 negotiations even though she intends to remain as president of the UN summit.
Some UK small sites delivering over 100% biodiversity net gain, report says
Some small development sites in England have achieved biodiversity net gain (BNG) at least 10 times greater than the legal requirements, according to a report released Monday.
French investor announces coalition to support €350 mln NbS fund
A French asset manager announced last week a coalition of investors and partners to support its €350 million natured-based solutions (NbS) fund focused on sustainable agriculture.
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EVENTS
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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Job listings this week
- *Forest Carbon Sales Manager, Manulife Investment Management Timberland And Agriculture – Boston/Remote
- Climate Pollution Reduction Planners (Environmental Planner 4), Washington State Department of Ecology – Lacey
- Carbon Policy Analyst, AlliedOffsets – LATAM
*Premium listings
See all listings or post a job
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ADVERTISE WITH US
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
INTERNATIONAL
NDC ambition – The private sector is urging governments worldwide to seize the opportunity to set ambitious renewable energy targets in their NDCs, saying these are necessary to drive investment in renewables for energy security and economic growth. Last week the UNFCCC pushed the deadline back to Sept. for submitting updated NDCs for 2025-35 given only 10 countries submitted on time by the original deadline of Monday. Renewables now generate more than 30% of the world’s electricity, battery costs have plummeted by 90%, and investments in energy transition surpassed $2 tln in 2024. However, the investment curve is flattening and current national plans will deliver only half of the required growth in renewables by 2030, warned the private sector in the release coordinated by the Global Renewables Alliance. Businesses are ready to scale up solutions but they need long-term investment certainty from governments, it stated. Over 200 organisations support a call on governments to ‘Now Deliver Change’ by setting ambitious, specific, and actionable renewable energy targets in the updated NDCs to the Paris Agreement. More about the campaign here.
EMEA
Gathering pace – ITT’s Svanehoj will supply CO₂ pumps for the onshore facility and the first liquid CO₂ carrier for Ineos-led Project Greensand in the Danish North Sea. This will be the EU’s first full-scale CO2 storage facility, and following a successful trial, storage operations are set to begin by late 2025 or early 2026, stated a release Monday. The news follows Ineos’s recent long-term agreement with maritime logistics company Royal Wagenborg to construct and deploy the first dedicated liquid CO2 carrier for the Greensand project. In this phase of the project, INEOS aims to store 400,000 tonnes of CO2 per year, with an outlook to scale the capacity to 8 mln tonnes a year as volumes of captured CO2 for storage increase.
Activist pressure – BP shares have risen on reports activist hedge fund Elliott Management has built up a stake in the British energy major and will push for changes to boost shareholder value, likely to include a refocus on core oil and gas activities. In early morning European trade, BP’s shares recorded their biggest one-day jump since Summer 2023, trading up 27.15 pence, or 6.3%, to 460.04 pence. Shares have risen 17% over the year to date and 23% higher over the past three months. BP shares have underperformed European and US peers as high expenditure on low-carbon assets have left the company highly leveraged and struggling to meet shareholder returns. Unconfirmed reports suggest Elliott will push BP to take measures to boost shareholder returns by refocusing on core oil and gas, reducing capex, and maximizing cash flow. Some analysts suggest it could be pressured to spin out various business units to fund investments in its gas-and-oil divisions, with its US shale division, lubricants division, and marketing and retail business potential target areas. BP Chairman Helge Lund is also regarded as vulnerable given Lund’s close association with BP’s prior low-carbon strategy. (MarketScreener)
Saudi’s NbS convening – Saudi Arabia is making efforts to advance nature-based carbon credits evident in an event convened under the patronage of the Minister of Environment, Water and Agriculture, which brought together experts to foster knowledge exchange on the topic. The initiative aligns with Saudi Vision 2030 and supports the Kingdom’s commitment to achieving net-zero emissions by 2060. Opening remarks by Abdulrahman Alfadley at the National Center for Vegetation Cover Development and Combating Desertification (NCVC) reaffirmed the centre’s dedication to advancing nature-based solutions via strategic partnerships, including collaborations with Singapore’s Carbon Capture, the International Carbon Registry (ICR), the United Nations Convention to Combat Desertification (UNCCD), and the United Nations Development Programme (UNDP). The NCVC has planted approximately 135 mln trees and rehabilitated 289,000 hectares of degraded land, which have vastly improved soil health and sequestered carbon, he said. Participants discussed the integration of nature-based solutions with carbon markets, covering the role of government policy, regulatory frameworks, and global cooperation.
Transitioning finance – The new Transition Finance Council’s steering group kicked off its work with a meeting in London on Monday, agreeing to set up three working groups to drive a “structured and impactful” work plan over the next year, Alok Sharma, the council’s chair and UK’s former COP26 president, said in a speech. The groups will focus on credibility and integrity; pathways, policies, and governance; and scaling transition finance. The UK government and the City of London launched the Transition Finance Council to help implement recommendations from the 2023 Transition Finance Market Review, an independent review hosted by the City of London and commissioned by the government. The council will focus on building capacity in transition finance, fostering stakeholder engagement, and leading working groups to address key priorities.
Not like other taxes– The president of the Africa Sovereign Carbon Registry Foundation, Abdi Ibrahim Absieh, has said in an interview with French magazine Jeune Afrique that Djibouti’s Sovereign Carbon Initiative – which applies a ‘mandatory contribution’ and ‘offsetting obligation’ to some sectors – is not a tax and will not harm the country’s investment profile or economic development. This, he said, is because the policy targets high-emitting sectors that are already decarbonising on the international level – chiefly, maritime shipping and aviation. “Today, we are simply asking that they contribute to the country in which they’re operating, and not the international market, in accordance with the [polluter pays] rules that they themselves have established.” (Jeune Afrique)
ASIA PACIFIC
E-mobility ITMOs – The Ministry of Environment in Cambodia has expanded its cooperation with South Korean e-mobility firm Verywords and Global Green Growth Institute (GGGI) to accelerate the adoption of high-quality, environmentally friendly electric two-wheelers in Cambodia. Under the agreement, Verywords, which operates a $2 mln electric scooter assembly plant in Kandal province, will donate 8,000 e-scooters to the Cambodian government at no cost. These scooters will be allocated for use by public officials, and the company will also establish more than 200 charging stations to support their operation. The initiative is expected to generate an estimated annual emissions reduction of 5,040 tonnes of CO2e equivalent, based on an average annual travel distance of 40 km per vehicle. Launched in July last year, the project, E-mobility Internationally Transferred Mitigation Outcomes (ITMO), will establish electric vehicle charging infrastructure in Phnom Penh, Siem Reap, and other locations in Cambodia in order to reduce GHG emissions in the Southeast Asian nation.
Committee formed – Pakistan’s Ministry of Climate Change and Environmental Coordination has constituted a committee of experts to review the draft rules for trading in carbon markets. The 24-member committee will be headed by Joint Secretary (Climate Finance) from the ministry and includes key officials from federal ministries, provincial planning departments, financial institutions, and private sector experts. The committee will analyse the proposed policy framework for carbon trading and suggest improvements. The Ministry of Climate Change will finalise the policy rules after extensive consultations with all relevant stakeholders. Once finalised, the rules will be submitted to the Prime Minister for approval. In December, the federal cabinet of Pakistan approved international carbon market regulations, launched during COP29 in November last year. The policy guidelines have a provision for both compliance carbon markets and a voluntary carbon market which will be operated by the government. Through the guidelines, Pakistan plans to accelerate clean technology and investment in sectors including energy, agriculture, waste management, and forestry, with the transactions expected to begin later this year, an official told Carbon Pulse in Baku.
Glowing endorsement – Carbon market technology developer Trovio announced Monday it had secured a strategic investment from Macquarie’s Commodities and Global Markets (CGM) business. The dollar-value of the investment was not disclosed, however the company said it would further strengthen its leadership position in the Australian market. The company is developing a new registry for Australia’s Clean Energy Regulator, using its CoreTenX architecture. Macquarie’s CGM business’ has some A$6.5 bln ($4 bln) across its asset finance and loan portfolio.
Supporting nuclear – South Korea will provide 150 bln won ($103 mln) worth of financial support this year to businesses in the local nuclear power sector, the trade ministry said Monday. The funding project will provide low-interest loans for small and medium-sized nuclear power plants. The annual budget has increased by 50 bln won from the previous year, considering the accelerated construction progress of existing units and the expansion of overseas orders, the ministry said.
Feedback, please – Three proposed carbon projects under the Joint Crediting Mechanism (JCM), two in Thailand and one in Chile, have entered the public comment phase, according to notices published Monday. A Samut Prakarn-based project is expected to cut emissions by introducing a 0.8MW solar power system and high-efficiency refrigerator to a food factory, while an energy saving initiative located in Rayong aims to install more environment-friendly evaporators. Eurus Energy, one of Japan’s largest wind power developers, has also proposed a project to introduce a 9MW solar power project in Chile’s Biobio Region. The public comment period will last until Mar. 11.
We made it – Philippines-based developer Keneco has seen its indigenous REDD+ project formally request registration with Verra, marking a historic first for REDD+ initiatives in the country, according to a recent company statement. The MinFor project is the first REDD project in the Southeast Asian nation to complete the full Free, Prior, and Informed Consent (FPIC) process with indigenous communities and request registration with Verra. Over its lifetime, the project is estimated to generate more than 14 mln tCO2e.
Kiwi power player picks coal replacement – Foresta told the Australian Securities Exchange Monday it had signed a non-binding agreement with New Zealand power retailer Genesis Energy to supply torrefied ‘black’ wood pellets for electricity generation at Huntly Power Station. The ASX listing Foresta’s wood pellet operations are in New Zealand and it said Monday this was the first term sheet Genesis had signed for the supply of this product. Genesis is hoping to secure 300,000 tonnes a year by financial 2028 to reduce the country’s dependence on coal. The development of Foresta’s state-of-the-art production facility remains subject to various approvals, consents, and the company obtaining the requisite investment funding, it said Monday. Despite the good news, shares closed down almost 10%.
Full metal hydrogen – Korean researchers have found a new way to make hydrogen using a liquid metal catalyst, Yonhap News reported. It called it ‘blue-green’ hydrogen. Typically blue hydrogen is made via splitting methane into its components with the carbon element sequestered in some way and green is made via splitting water using renewable energy. This hydrogen, the newspaper said, is produced via the thermal decomposition of methane, meaning no CO2 is emitted giving a blue process green credentials. The research team succeeded in stably separating carbon generated during the methane thermal decomposition process by using a molten metal catalyst that remains in a liquid state instead of a solid catalyst.
We are interested – The municipal corporation of Ludhiana in India’s Punjab is joining central government’s carbon credit programme and has floated expression of interest to hire a project management consultant for the same, the Times of India reported. According to the officials from the civic body, cities such as New Delhi and Indore are already working on such projects and Ludhiana has the capacity to earn carbon credits based on a few ongoing projects to reduce emissions. The revenue generated from the sales of those credits can be reinvested to enhance city’s infrastructure and sustainability efforts, they added.
E-bus credits – The city of Indore in the state of Madhya Pradesh in India is planning to increase its fleet of electric public transportation under a public private partnership (PPP) model, with an aim of benefiting general public by providing a comfortable and eco-friendly mode of transportation. Moreover, the deployment of these vehicles will also contribute to reducing carbon footprint of the city and generate carbon credits, the Times of India reported.
AMERICAS
USAID you wanted more fossil fuels – The Trump administration’s dismantling of the US Agency for International Development (USAID) may be the first step in a broader plan to use foreign aid as a support system for fossil fuels, E&E News reports. Since taking office, President Donald Trump has put a 90-day freeze on most foreign assistance, ordered an end to diversity, equity and inclusion (DEI) programmes, and deployed Tesla CEO Elon Musk to slash excess government spending and improve efficiency. E&E claims this aligns with Project 2025, the policy handbook produced by the Heritage Foundation with input from more than 100 conservative organisations. The administration’s attempts to entirely dismantle USAID go beyond what Project 2025 proposed. Musk has said he is “feeding USAID into the woodchipper”, and the Trump administration has moved to fold the agency into the State Department, uncovering “hundreds of millions” in fraudulent payments, Trump has said. A federal judge Friday temporarily blocked the Trump administration from putting thousands of the agency’s employees on leave. It’s unclear whether Musk and the Heritage Foundation are on the same page, and neither responded to requests for comment. Trump has distanced himself from Project 2025 through his re-election campaign. But Project 2025 offers insight into what Trump allies want out of US foreign aid, and possibly what they plan to do with a remade USAID: the promotion of fossil fuels and the elimination of foreign country regulations that American industry finds burdensome.
LNG project assessment – The US Federal Energy Regulatory Commission (FERC) has issued a draft supplemental environmental impact statement (EIS) assessing cumulative air quality impacts related to the CP2 LNG and CP Express Pipeline Project proposed by Venture Global CP2 LNG and Venture Global CP Express, both subsidiaries of Venture Global LNG, a LNG development and export company. The EIS follows a rehearing order that partially set aside a prior authorisation to conduct additional environmental review in response to a US Court of Appeals ruling. The project involves constructing LNG and pipeline facilities in Louisiana and Texas, with a planned export capacity of up to 28 Mt/yr of LNG. The draft EIS concludes that NO2 and particulate matter emissions from the project would not result in significant cumulative air quality impacts. Public comments on the draft EIS are open until Mar. 31, 2025.
Have your gas and sue it too – New York’s Department of Environmental Conservation (DEC) has approved air permits for the Iroquois Enhancement by Compression (ExC) project, upgrading two compressor stations to increase natural gas flow through the Iroquois pipeline, E&E News reported. While the state’s Department of Public Service argues the project is necessary for winter gas reliability, environmental advocates claim it contradicts New York’s climate goals. The decision to increase gas supplies contradicts the state’s newly enacted Climate Superfund Act, which seeks to hold fossil fuel companies financially responsible for historic GHG emissions, and is currently being challenged. A coalition of 22 Republican state attorneys general and industry groups have sued to overturn NY’s law, arguing it violates constitutional principles, including federal preemption and the commerce clause.
Cash crisis – New York’s access to over a bln dollars in federal funding for clean energy projects remains uncertain due to an ongoing freeze on environmental programme funding initiated by President Trump, despite a court order for disbursement. The funding includes $250 mln for solar grants, over $300 mln for home energy efficiency rebates, and more than $175 mln for EV charging infrastructure. Additionally, over $230 mln designated for electric buses in New York City and school districts statewide remains on hold. While some nonprofits continue their projects cautiously, others face delays. The New York State Energy Research and Development Authority has not provided updates, though its president, Doreen Harris, downplayed immediate impacts in a recent budget hearing. (E&E News)
EV charging powers ahead – New York Governor Kathy Hochul (D) has announced a $60 mln loan from the NY Green Bank to Revel, the largest provider of public EV fast-charging in New York City, to expand its charging network. The funding will support the construction of 267 new fast-charging stalls across nine sites, including major transport hubs like JFK Airport and LaGuardia Airport. This marks the NY Green Bank’s first investment in EV charging infrastructure, aligning with the state’s goal to reduce emissions and improve public access to clean transportation. The expansion is expected to support New York’s broader climate agenda, which aims for an emissions-free economy by 2050.
Please please please – Representatives Adrian Smith (R-NE) and Angie Craig (D-MN), co-chairs of the Congressional Biofuels Caucus, led a bipartisan group of nearly 30 colleagues in urging EPA Administrator Lee Zeldin to support the American biofuels industry by fulfilling the Renewable Fuels Standard (RFS). Their letter to Zeldin emphasised the economic benefits of biofuels, including job creation and lower fuel prices, and called for the year-round sale of E15 to reduce energy dependence on foreign countries. It also advocated to remove regulatory barriers to biofuel growth.
See you in court – EPA vs. Calumet Shreveport Refining – a Supreme Court case concerning small refinery exemptions under the RFS – will hear argument on Mar. 25, according to docket filings. The Supreme Court will decide whether the refiners’ challenges will be in the DC Circuit or Regional Circuit courts. Calumet Shreveport, along with some 100 small oil refiners who have also petitioned the Supreme Court, were denied exemptions under the EPA’s RFS programme for the 2023 compliance period. The refiners claim that the EPA “failed to perform a non-discretionary duty to act” and added that the agency has not acted within the 90 days required by the Clean Air Act.
Planting pals – Canada’s Forest Trust Corporation (CFTC) and Forests Canada have announced a partnership to plant 250,000 trees across the country this year. The collaboration will establish up to 125 hectares of new forest, contributing to CFTC’s goal of planting 30 mln trees over five years and supporting Forests Canada’s aim of reaching 50 mln trees by 2025. CFTC will provide technological expertise to monitor forest health, biodiversity, and climate impacts, while Forests Canada will leverage its experience in forest restoration to enhance ecosystem connectivity.
You ain’t nothin’ but a Carbonhound – The Royal Bank of Canada (RBC) has partnered with Carbonhound, a carbon management software platform, to provide Canadian businesses with an automated solution for measuring, verifying, and managing carbon emissions. Carbonhound automates data collection to track Scope 1, 2, and 3 emissions in line with global standards such as the Greenhouse Gas Protocol and ISO 14064, while also enabling businesses to generate compliance reports for frameworks like the Carbon Disclosure Project (CDP) and Science Based Targets Initiative (SBTi). The platform aims to support companies in setting emissions reduction targets, implementing strategies, and investing in carbon credits. (ESG News)
VOLUNTARY
Wastewater CDR – Isometric has certified the world’s first Wastewater Alkalinity Enhancement (WAE) Protocol, which details requirements and procedures for carbon removal (CDR) that occurs in wastewater treatment. This follows a 30-day public consultation including feedback from buyers, suppliers, and academics with experience in designing wastewater treatment processes. In typical wastewater treatment, microbes break down organic waste, producing CO2. But in WAE, alkaline materials—such as finely crushed limestone—are added to the biological treatment process, which react with the CO2 produced by the microbes and convert it into bicarbonate ions, which do not enter the atmosphere. These ions remain in the wastewater stream, continue through the remaining treatment steps and are discharged to a river or other water body. The reacted CO2 therefore doesn’t get released and is instead transported to the ocean, where it is sequestered for tens of thousands of years, Isometric claims. The process is safe, regulated, and monitored, and is relatively low cost because it uses existing infrastructure and permits.
Marine CDR – The National Academies Ocean Studies Board will establish a standing committee on marine CO2 removal, it announced Monday. Set to launch in Mar. 2025, it will be charged with updating information from the 2022 National Academies report, A Research Strategy for Ocean Carbon Dioxide Removal and Sequestration. The 2022 report outlines six marine CDR strategies, which hold great potential, the release stated. The Carbon to Sea Initiative, a non-profit dedicated to evaluating how the ocean can play a role in the removal and storage of CO2, provided the initial grant to support the creation of the committee.
AVIATION
H2 pushback – Airbus has pushed back plans to fly a hydrogen-powered aircraft by 2035 in a setback for the aviation industry’s hopes to achieve net zero. The entry has been delayed by five to 10 years, the FT reported. “Developing a hydrogen ecosystem — including infrastructure, production, distribution, and regulatory frameworks — is a huge challenge requiring global collaboration and investment,” the company said in a statement, adding that slow progress on renewable energy scaling up is also holding things back. Airbus engineers have been working on several different zero-emission concepts, all of which primarily rely on hydrogen, since 2020. Airbus indicated it would cut the budget dedicated to its hydrogen initiatives by 25% and planned to shut down plans to test hydrogen fuel cell engines on a modified A380 superjumbo.
SCIENCE & TECH
CO2 transport costs – Public finance is the most cost-effective financing structure for CO2 transport, according to a new paper, which found the benefits of low cost of capital to outweigh the efficiency disadvantages of public finance. The paper evaluated how different financing structures affect CO2 transport costs and assessed CO2 transport cost implications across public, private, and RAB (regulated asset base) financing. It evaluated CO2 transport via pipelines, barges, trains, and ships in a levelized transport cost model, with resulting showing that the choice of financing structure can result in transport cost differences of up to 26% for pipelines, with smaller effects observed for the other transport modes.
AND FINALLY…
Keyword find & kill – The US Commerce Department has instructed NOAA officials to search grants using a broad set of keywords related to climate change, potentially scrutinising most climate-related projects, Axios reports. NOAA, a leading global climate and weather agency, funds research to improve understanding of extreme weather and climate change. The search stems from President Trump’s recent executive orders and is separate from DEI-related searches conducted last week. The keyword list, seen by Axios, includes terms such as “climate”, “methane”, “carbon”, “greenhouse gas”, and “Paris Agreement”, aligning with the administration’s interpretation of environmental and energy-related directives. It is unclear what the administration intends to do with the findings or if existing funding will be affected. Commerce officials and the White House have not commented, and legal instructions indicate funding cannot be cut due to court orders that have temporarily blocked a broader funding freeze. There is growing concern within the scientific community, as significant funding cuts are expected for the National Science Foundation, and Project 2025 proposes a diminished NOAA without climate-related functions. NOAA divisions, including the National Weather Service and Office of Atmospheric Research, have been instructed to examine their grants using the provided keywords. The search’s impact is exemplified by the Biden administration’s $575 mln climate resilience grants under the Inflation Reduction Act, which are likely flagged due to their explicit climate focus. The administration’s ultimate use of the compiled list remains uncertain.
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