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TOP STORIES
Amazon, Microsoft team up with Exxon for new voluntary carbon task force
Representatives from several large corporates, including Amazon, ExxonMobil, and Microsoft, have teamed up with voluntary carbon experts as part of a new task force aimed at driving integrity in the market.
Oil major offloads North America’s largest carbon project developer to forestry offset investor
A Canadian-headquartered forestry investment firm has acquired North America’s largest carbon project developer, including the majority stake held by a European oil major.
EMEA
Commission delays proposal on CBAM extension to 2026, while eyeing up other tweaks
The European Commission will delay its proposal for extending the Carbon Border Adjustment Mechanism (CBAM) to other sectors and downstream products by a year, to 2026, according to a senior official — although it is looking at other potential tweaks to the policy.
France calls for simplifying and strengthening EU’s CBAM
Two French ministers have thrown their weight behind the EU’s Carbon Border Adjustment Mechanism (CBAM), calling it an indispensable tool to steer Europe towards net zero emissions — while stressing that the scheme needs to be strengthened and simplified before it starts charging a fee next year.
BRIEFING: EU aims to adopt carbon farming certification rules this year, official says
The European Commission on Wednesday confirmed its intention to adopt carbon farming certification methodologies before the end of the year and write them into law under the EU’s Carbon Removals and Carbon Farming (CRCF) regulation.
Brussels preparing changes to EU ETS registry fees
The European Commission is preparing to introduce a new fee system aimed at financing the EU ETS registry, which is being extended to cover new sectors of the economy.
RWE posts 8% drop in lignite-fired generation in 2024
RWE, historically the largest emitter in the EU ETS, posted a 8% annual drop in EU lignite-fired power generation in 2024, in preliminary full-year figures published on Thursday.
EU energy security strategy outdated, ETS-backed ‘electrification bank’ needed -study
The EU’s 2014 energy security strategy is no longer fit for purpose due to fundamental supply and demand changes over the past decade, an industry study has found, as it called for a new ETS-funded bank to support electrification.
Amsterdam carbon finance firm raises €1 mln for fertiliser insetting
An Amsterdam-based carbon finance company has raised €1 million to scale fertiliser-related insetting to decarbonise the agri-food sector, it announced on Thursday.
Nigerian state govt partners with Moroccan firm on carbon farming initiatives
The government of Kano in Nigeria has partnered with a Moroccan agri-tech firm to enhance agricultural productivity while enabling farmers in the state to earn carbon credits, as reported by several local media sources.
Euro Markets: EUAs slump 3% as gas sell-off continues to add pressure
European carbon prices continued to track lower on Thursday amid heavy losses on gas markets, as sources pointed to the movement coming as part of an “overdue” correction lower after a sustained period of strength.
AMERICAS
WCI Markets: Traders anticipate post auction CCA rebound
California Carbon Allowance (CCA) prices clawed back earlier losses through the week amidst heightened futures and options transaction activity ahead of the first quarterly permit sale next week, while trade in Washington Carbon Allowances (WCA) remained muted.
Millions in forest conversion offsets propel ARB issuance to record, few provide benefits to California
California regulator ARB granted 3.6 million California Carbon Offsets (CCOs) to an avoided conversion forest project, which took their bi-weekly issuance to all-time highs, but only a small percentage were tagged with direct environmental benefits (DEBs) to the state, data published Wednesday showed.
California’s $10 bln climate bond has merits, risks in multi-year lock-in
California’s fiscal and policy advisory body found merit in Governor Gavin Newsom’s (D) proposal for a $10 billion climate bond that shifts cap-and-trade derived funds, but cautioned about shortcomings of a multi-year approach to adjust to changing priorities.
California Democrats seek to lessen LCFS consumer fuel price impacts with new legislation
Democrats in the California Senate and Assembly introduced two bills on Wednesday focused on protecting consumers that are impacted by high fuel costs in light of increased stringency in the Low Carbon Fuel Standard (LCFS) programme.
Republican lawmakers seek to repeal Biden-era environmental rules en masse
A federal bill that would permit congress to expedite repeals of regulations adopted during the final days of the former Biden administration narrowly passed the US House on Wednesday.
US Republican senators propose $1,000 EV fee for federal highway repairs, nixing EV tax credits
US Senate Republicans introduced two bills on Wednesday aimed at undoing electric vehicle (EV) incentives with the support of a variety of industry groups and conservative think-tanks.
Indiana Senate passes bill to ‘clean up’ CO2 infrastructure permitting
An Indiana bill that proposes to alter the permitting process for CO2 pipelines and sequestration wells passed out of the State Senate Tuesday and was referred to the state’s House of Representatives.
West Virginia lawmaker reintroduces bill to tax, regulate carbon credit agreements
A Republican senator in West Virginia reintroduced legislation Wednesday to impose taxation, duration limits, and registration requirements on carbon credit agreements in the state.
US shale producer sold $95 mln in carbon credits, environmental assets in 2024 -filing
A Pennsylvania-headquartered shale company sold $95 million worth of carbon credits and other environmental assets in 2024, according to fiscal year filings posted Tuesday.
US energy companies partner to decarbonise natural gas via CCS
Two US energy companies announced Thursday a partnership aimed at advancing cost-effective decarbonisation of natural gas power generation via carbon capture and storage (CCS).
Canadian net-zero nickel pilot plant inches closer to development with federal funding
A Canadian company with sights set on developing net-zero nickel to power the EV revolution has won more than C$3 million ($2.4 mln) in federal funding for a pilot plant.
Preserving Brazilian forests for REDD+, other uses yields economic benefit of $2.6 bln over pastureland -study
Dedicating at-risk Brazilian forest areas to carbon projects, sustainable timber, social use, and conservation produces net socioeconomic benefits of around R$15 billion ($2.6 bln) over 30 years when compared with land conversion to pasture, according to a non-profit study published Wednesday.
ASIA PACIFIC
Indonesia to expand ETS to cover four industrial sectors, local media
Indonesia appears to be planning to expand its emissions trading scheme to cover four hard-to-abate sectors, as well as begin efforts to launch blue carbon trading, various ministries told local media Thursday.
ASEAN faces limited impact from EU CBAM, but future risks loom -study
The EU Carbon Border Adjustment Mechanism (CBAM) will have minimal immediate economic impact on Southeast Asia in the short term, but that might change in time and the scheme offers an opportunity to nations in the region to scale up their carbon pricing systems, according to new research.
SK Market: Monthly carbon auction cancelled as spot market remains bearish
South Korea has cancelled this month’s carbon permit auction, as activity in the national emissions market remains relatively slow.
Japanese developer builds new rice project in Philippines as JCM methodology coverage expands
A Tokyo-based developer has added another initiative to its project pipeline in the Philippines, taking advantage of the Southeast Asian country approving a new methodology under the bilateral Joint Crediting Mechanism (JCM).
Australia should find ways to better link carbon, biodiversity outcomes, report says
A report published Friday by industry and regional advocacy groups in Australia urged the government incentivise dual carbon and biodiversity outcomes through new frameworks, funding, and requirements.
Australia govt appoints industry veterans to Clean Energy Regulator
The federal government has added four part-time board members to Australia’s Clean Energy Regulator (CER), it announced Thursday.
INTERNATIONAL
Age of AI to cause surge in new oil exploration, says Shell
The age of artificial intelligence (AI) could prove a boon to fossil fuel companies, propping up high global oil demand into the 2060s, Shell said in its latest annual energy outlook, though global emissions would peak in the late 2020s.
Carbon-rich peatlands are severely underprotected, study finds
Only 17% of the world’s peatlands are protected despite storing more carbon than all the world’s forests combined, a study released Thursday has found.
VOLUNTARY
Verra activates CDM methodology for renewable energy generation
Verra is activating a CDM methodology for renewable energy generation to be used in its Verified Carbon Standard (VCS) programme.
BECCS carbon removal potential constrained by land and ecosystem limits -report
Large-scale bioenergy with carbon capture and storage (BECCS) could remove less than 200 million tonnes of CO2 by 2050 if land and ecosystem constraints are considered, far below levels assumed in many climate scenarios, according to a new study released this week.
Govt-backed funds, stronger mandates could boost Asian demand for carbon removals -report
Promoting government-backed funds and establishing robust regulatory frameworks could guarantee a stable demand for removals carbon credits in Asia, and help the region lead the way in creating a thriving carbon market, a report has found.
Teenager-founded biochar startup boasts $3.5-mln seed funding round, $7 mln in US offset deals
A Silicon Valley startup founded by a teenager and focused on carbon removals and regenerative agriculture has raised $3.5 million in seed funding and signed biochar offset deals worth $7 mln.
INTERVIEW: US NGO highlights blue carbon potential for Louisiana wetlands
A US NGO has published research showing that Louisiana’s wetlands could be a key carbon sink, presenting an opportunity for blue carbon projects in the country.
AVIATION/SHIPPING
ICAO establishes platform to fund initiatives that decarbonise aviation
The International Civil Aviation Organisation (ICAO) has established a global financial platform to directly connect sustainable aviation projects with investors worldwide.
French airline joins contrail avoidance campaign to cut CO2-equivalent emissions
A France-based aviation company has partnered with a technology group and a climate initiative on a contrail avoidance campaign designed to cut CO2-equivalent emissions, the organisations announced on Thursday.
BIODIVERSITY (FREE TO READ)
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Biodiversity Pulse: Thursday February 13, 2025
A twice-weekly summary of our biodiversity news plus bite-sized updates from around the world. All articles in this edition are free to read (no subscription required).
High-income countries responsible for 13% of forest biodiversity loss, study says
Consumption-driven deforestation caused by high-income countries has been responsible for over 13% of forest habitat loss globally since 2001, according to a paper released on Wednesday.
Paper highlights gap between nature finance literature focus and actual contributions
The frequency of mentions of some nature finance tools in non-academic literature is inconsistent with their actual capital contributions, a preprint paper has said.
Cali fund key to implementing UN High Seas Treaty, IUCN says
A benefit-sharing mechanism for the use of digital sequence information (DSI) on genetic resources, such as the one established at COP16, can be crucial to support biodiversity conservation under the UN High Seas Treaty, the International Union for Conservation of Nature (IUCN) has said.
Australian developer eyes large enterprise partners in scaled-up nature pilot
An Australian biodiversity project developer is looking to work with major corporations to set up a series of nature protection projects across the country.
Australia should find ways to better link carbon, biodiversity outcomes, report says
A report published Friday by industry and regional advocacy groups in Australia urged the government incentivise dual carbon and biodiversity outcomes through new frameworks, funding, and requirements.
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Carbon Removal Day – Feb. 27, Ottawa – Carbon Removal Canada invites you to Policy to Progress: Carbon Removal Day 2025, a conference dedicated to exploring the opportunities and challenges in advancing Canada’s carbon removal sector. Join us to discuss current solutions in action, how we can continue to drive innovation, and create the conditions for scaling carbon removal technologies. Register
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
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BITE-SIZED UPDATES FROM AROUND THE WORLD
EMEA
Oil in retreat – Activist Elliott Management has become BP’s third-largest shareholder after building a near-5% stake worth almost £3.8 bln, as it seeks to force the troubled UK oil major to cut spending on renewable energy and make big divestments, according to two people close to the situation speaking to the FT. The position is one of the US hedge fund’s largest and could include shares as well as derivative positions that replicate an economic interest in the stock, the newspaper said. Elliott has to disclose its stake publicly if it reaches 5%.
French speed-dating – The French ecology ministry has convened stakeholders in the biodiversity and carbon credit sectors for a meeting session on Feb. 17 aimed at bringing together the supply and demand sides of the industry. The meeting is aimed at participants in two French schemes: the Natural Compensation, Restoration and Renaturation Sites (SNCRR) scheme and the Low-Carbon Label (LBC) scheme. “This event will be an opportunity to bring together the ‘suppliers’ and ‘demanders’ of each of these two financing mechanisms for the ecological transition,” the ministry said in a statement. Discussions will seek to intensify the development of the two schemes, and identify obstacles to be removed in order to accelerate and diversify the financing of projects serving the ecological transition, the ministry said.
Hot take – A joint study by the Paritatischer Gesamtverband and the Oeko-Institut warns that if Germany’s CDU and FDP parties rely solely on CO2 pricing for the clean heat transition, natural gas prices could double, rising by 10.52 cents per kWh. If the Building Energy Act (GEG) is repealed after the next election, a significantly higher CO2 price – €524 per tonne, compared to Germany’s current domestic cost of €55 – would be needed to achieve the same emissions reductions by 2030. However, the study casts doubt on whether higher CO2 prices would effectively drive change. Despite a 78% increase in gas prices since 2022, gas heating remains the most installed system due to high heat pump investment costs and tenants’ lack of control over heating choices. The study warns of severe financial strain on low-income households, with some pensioners facing up to 11% of their income going to CO2 costs alone. The report suggests shifting more responsibility for CO2 costs onto landlords, as they control building efficiency. It also proposes increasing income-based heating subsidies, replacing flat-rate climate payments with a tiered system, and expanding renovation funding. Leasing heat pumps, which would include maintenance and servicing, is also recommended as a more affordable alternative to outright purchases. (Energate)
Tit-for-tat – Thyssenkrupp has warned that US President Donald Trump’s steel tariffs could deepen Europe’s overcapacity problems by squeezing the bloc’s exports while prompting Chinese producers to flood the market with even more shipments. An executive at the large industrial said that the tariffs, introduced by Trump this week, of 25% on all imports of steel and aluminium into the US, could prompt the world’s largest steel exporter to divert excess output to Europe. (FT)
Taxing telecommunication – Nigeria’s National Council on Climate Change Secretariat (NCCCS) has identified carbon taxation in the country’s telecommunication sector as a cost-effective approach to reducing GHG emissions. In the latest workshop organised by NCCCS in collaboration with the Nigerian Communications Commission and support of UNFCCC RCC for West Africa, in Abuja this week, stakeholders said the country is exploring the feasibility and implementation of carbon pricing instruments, such as emissions trading schemes and carbon tax to incentivise emissions reduction and drive investments in clean technologies. The government has now urged all stakeholders to actively participate to ensure this pilot carbon tax design is effective, equitable, and aligned with Nigeria’s development aspirations. NCCCS is currently leading the development of a comprehensive National Carbon Market Policy, Manual of Procedure and Regulation for carbon pricing mechanisms in Nigeria. Deriving best practices from this pilot initiative, Nigeria plans on scaling up carbon pricing across various industries.
“Massive con” – Reform UK, a right-wing party polling well in Britain, has said it would impose taxes on the renewable energy sector, under its plans to scrap the country’s net zero target. The party argued net-zero policies were to blame for higher energy bills and deindustrialisation in the UK, describing renewable energy was a “massive con” and promising Reform would recover money paid in subsidies to wind and solar companies. The party’s position on energy and net zero contrasts starkly with that of the current Labour government, which wants to remove nearly all fossil fuels from UK electricity production by 2030. (BBC)
ASIA PACIFIC
Tech transfer – Indonesia and Turkiye signed an agreement that supports the transfer of technologies in power generation, renewable energy, hydrocarbons, and emerging sectors like nuclear, batteries, and hydrogen. The memorandum of understanding (MoU) on energy and mineral resources also supports clean energy development in Indonesia, and is valid for five years with a clause to extend it for a further five years. The signing was witnessed by presidents Prabowo Subianto and Recep Tayyip Erdogan on Tuesday.
Start your engines – ASX-listed NoviqTech has partnered with H2i Group to tokenise avoided emissions from the reduction and efficiency of fuel in diesel engines, it announced. H2i has developed a proprietary hydrogen enhancement system designed to manage, control, and inject hydrogen into diesel combustion engines and reduce CO2 emissions by 19% and cut fuel consumption by up to 27%. NoviqTech said the project would generate carbon credits through emissions reduction from the system and be tokenised on Hedera using the Carbon Central platform. The work will also use NoviqTech’s digital twin technology through the Carbon Central platform for real-time emissions tracking, validation, and automated carbon calculations. It follows NoviqTech announcing a strategic partnership with blockchain technology Evercity.
Low-carbon sail – Japanese logistics firm Nippon Express (NX) has introduced the “NX-GREEN Ocean Program”, an international marine transport service that reduces customers’ Scope 3 emissions, it announced Thursday. NX said it is working to create various services that contribute to customers’ sustainability journey, such as promoting a modal shift to rail and ship transportation and providing sustainable aviation fuel. Under the programme, the logistics group will procure environmental attributes and digital certificates for specific low-carbon voyages undertaken by the MOL-operated fleet. The announcement comes after MOL launched a net zero alliance that will establish carbon insetting projects and generate environmental attributes certificates.
Real close renewables target – Australia’s Clean Energy Council said Thursday that in 2024 the nation saw the best year for large-scale renewable investment since the prior decade. Last year finished with A$9 bln ($5.63 bln) in capital commitments, the highest figure since 2018. The CEC’s Quarterly Clean Energy Investment Report said that close to 1,600 MW of power spread across seven projects saw sanction in the last quarter of the year with a total value of A$2.4 bln. The CEC said this was proof the nation is on track to hit its renewable energy target of 82% by 2030.
Branching out – The Global Carbon registry (GCR) has a new regional sub-licence for Southeast Asia, it announced Thursday, without providing further detail. The initiative, a collaboration between Carbon Vault, TI TerraCarbon, and Carbon Trade Exchange, was set up to ensure transparency and trust in global carbon credits.
AMERICAS
Chasing shadows – The biggest US bank, JPMorgan Chase & Co, has launched a new climate communique, prompted by clients’ demand for information about the topic across industries and globally, according to its author Sarah Kapnick, the global head of climate advisory. Previously a strategist in the asset and wealth management division, she returned to the company in October after serving for more than two years as chief scientist of the US National Oceanic and Atmospheric Administration. The first note, published Thursday, announced that a “new climate era” in which people who understand global warming to be an economic problem, and who build that awareness into strategy, are likely to beat out competitors who do not. Under the communique, there is no uniform company response to climate change, and corporate policies may change over time, she wrote. There are, however, uniform facts. The world is already 1.3C hotter than before industrialisation, with unprecedented weather extremes in some places. (Bloomberg)
Boulder battle – The Colorado Supreme Court heard oral arguments in a lawsuit filed by the city and county of Boulder against Exxon Mobil and Suncor Energy, seeking to hold the companies financially responsible for alleged climate change-related damages, E&E News reported. Exxon Mobil is challenging a lower court ruling that allowed the case to proceed in state court. Justice Richard Gabriel expressed concern that multiple similar lawsuits nationwide could lead to de facto regulation of the oil industry, questioning whether such claims should be addressed through federal law. Boulder’s lawsuit is one of more than two dozen filed across the country, as municipalities seek compensation for climate-related costs.
EV plant hits the breaks – Aspen Aerogels, a US electric vehicle supplier, has announced it will halt construction of a planned facility in Statesboro, Georgia, despite tentative approval for a $671 mln loan from the Biden administration. CEO Don Young informed investors that the Massachusetts-based company will cease work on the plant, which was intended to produce EV insulation and fire protection materials. The facility would have complemented existing production at Aspen Aerogels’ Rhode Island site. The US DOE had granted preliminary approval for the loan in October. The announcement follows the Trump administration’s recent reversal of the EV mandate. (E&E News)
Pipeline partnership – POET, a US biofuels producer, and infrastructure company Tallgrass have announced an agreement to connect POET’s Fairmont, Nebraska bioprocessing facility to the Tallgrass Trailblazer CO2 pipeline. Under the partnership, bioCO2 from POET’s ethanol production will be captured and transported for permanent underground sequestration in Wyoming. The Trailblazer project involves converting an existing natural gas pipeline for CO2 transport, reducing the need for new infrastructure. The project, expected to begin commercial operations in 2025, aims to lower the carbon intensity of bioethanol and create economic benefits for Nebraska corn growers, bioethanol producers, and landowners hosting pipeline infrastructure.
He said, she said – Small Canadian businesses will continue paying taxes on carbon rebates until legislation is passed to exempt them, according to the federal government. Despite a previous assurance from former finance minister Chrystia Freeland, the Canada Revenue Agency is still taxing the rebates. Department of Finance spokesperson Benoit Mayrand confirmed the government’s intention to make the payments tax-free, stating that a legislative amendment will be introduced as soon as possible. Businesses that have already paid taxes on the rebates will be able to amend their tax returns once the change is implemented. Around 600,000 small businesses began receiving rebates last autumn from the C$2.5 bln collected in carbon tax revenue over the past five years. Canadian Federation of Independent Business (CFIB) president Dan Kelly welcomed the government’s intention but expressed concern about whether the change will be enacted. Parliament has been prorogued until Mar. 24, and its return before a possible election remains uncertain. The delay has also affected other tax-related policies, including the increase to the capital gains inclusion rate, which has been postponed until 2026. The CFIB has urged MPs to reconvene to address the carbon rebate issue and respond to potential US tariffs. (Globe & Mail)
Quebec questions tariffs – Quebec Premier Francois Legault expressed strong opposition to the Trump administration’s decision to impose stricter tariffs on steel and aluminium imports, stating he is “really unhappy” with the move, E&E News reported. Speaking in Virginia, Legault highlighted that while the US consumes 5 mln tonnes of aluminium annually, it produces only 14% of its supply, with 60% of imports coming from Quebec. He warned that there are limited global alternatives outside of China. Legault, who is set to visit the White House with other Canadian provincial leaders, emphasised that Canada wants to avoid a trade war, while President Trump reaffirmed plans for a 25% tariff on imported steel and aluminium.
New hire – Two Canadian companies, Fondaction Asset Management and Priori-T Capital, have appointed Etienne Lavoie-Gagnon as Managing Director of Inlandsis Fund, a carbon finance fund that supports GHG reduction projects in North America. Fondaction Asset Management, a subsidiary of Fondaction, focuses on impact investment and manages over C$455 mln ($320 mln) in funds related to energy transition, environmental markets, and the circular economy. Priori-T Capital, also based in Montreal, partners with Fondaction to oversee Inlandsis, which has financed decarbonisation initiatives since 2017 through regulated and voluntary carbon markets. Lavoie-Gagnon, who previously held senior roles at EY and SNC-Lavalin (now AtkinsRealis), will lead the fund’s efforts to expand carbon market financing for emissions reduction and removal projects.
You’re a stor – Energy storage company Hydrostor secured $200 mln from Canada Growth Fund, a C$15 bln arm’s length public investment vehicle; Goldman Sachs Alternatives; and the Canada Pension Plan Investment Board, the company announced Thursday. The transaction includes a $150 mln convertible note from the three investors, and CGF has made an additional $50 mln convertible development expenditure loan facility to fund a portion of development costs for the company’s Canadian projects. This is the second investment announced by CGF this year, following the fund’s commitment of up to C$50 mln towards Calgary-based private equity fund Longbow Capital earlier in February. The funds are dedicated to the Longbow Energy Transition Fund II, which focuses on energy transition businesses.
Trump effect – Coca-Cola’s chief executive James Quincey has said the company may have to sell more beverages in plastic bottles in the US due to President Donald Trump’s new taxes that are set to increase the cost of aluminium cans, BBC reported. “If aluminium cans become more expensive, we can put more emphasis on PET [plastic] bottles”, Quincey said.
Offset advice – The International Chamber of Commerce (ICC) Brazil and project developer WayCarbon published a report Thursday providing recommendations for the use of offsets under the country’s national ETS approved in December that is currently being regulated. First, regarding the conversion of carbon credits into compliance-eligible units, the report recommended determining a quantitative limit; restricting offsets generated on national territory; focussing on ARR projects with biodiversity benefits and forestry, agricultural, and waste projects; implementation of reassessment cycles; and assessing whether methodologies accepted under Article 6.4 of the Paris Agreement are compatible with national climate goals. Second, the report also provided recommendations for promoting integrity that included prioritising certification standards and third-party auditors with experience in Brazil. Finally, suggestions for supporting market actors were also given – namely, developing a guidance document for the inclusion of impacted agents inspired by the Gold Standard Safeguard Principles and Requirements, making documents accessible to involved communities, and defining government entities responsible for ensuring the rights of local populations.
VOLUNTARY
Working together – Voluntary carbon project developer Earthshot Labs said it is working with Anglo-Australian miner Rio Tinto to develop nature-based solutions projects near their operations. The developer said in a LinkedIn post it was working with the miner on a suit of carbon development services including pre-feasibility and feasibility studies, gap analysis, project design, and other work to certify projects under Verra’s Voluntary Carbon Standard (VCS). One such project included the Tsitongambarika REDD+ Project in Madagascar alongside BirdLife International. The exact nature of the partnership between Earthshot and Rio was not detailed.
Racing green – The Mercedes-AMG Petronas F1 Team has signed a deal with nature-based carbon developer Chestnut Carbon to buy credits from a project that will restore 200 hectares of degraded agricultural acreage into biodiverse forests through the planting of over 260,000 native trees in the US. The forward purchase of credits, set to be delivered between 2027 and 2030, equates to 5,500 tonnes of CO2. To date, Chestnut Carbon have planted over 10 mln trees, with a diverse mix of native pine and 18 different hardwood species that will capture and remove over one mln tonnes of carbon by 2040.
Tool after tool – The Qatar-based Global Carbon Council has launched two tools to further standardise GHG emission estimates and carbon stock assessments in NbS projects: GCCTA001 – Estimating Non-CO2 GHG Emissions from Biomass Burning, and GCCTA008 – Measuring Carbon Stocks & Changes in Dead Wood and Litter. These tools integrate the latest IPCC guidelines, offering project developers precise, standardised methods that enhance transparency and credibility of GHG emission estimates, the standard said.
Module after module – Isometric has now certified the ‘Biochar Storage in Low Oxygen Burial Environments Module’, following a 30-day public consultation period. Feedback was received from stakeholders across the biochar space, including buyers, suppliers, academics as well as experts in the waste management industry, it said on Thursday. Under this module, credits will be issued with 1,000-year durability. Two quantification options are available to calculate the amount of carbon durably stored. Option one involves quantifying the stable (inertinite) biochar fraction using ‘random reflectance’ and quantifying part of the carbon that does not decompose (known as the labile biochar fraction) with a six month incubation test. A conservative discount factor is applied to this labile biochar fraction to deduct the likely carbon loss over 1,000 years. Option two involves quantifying the stable (inertinite) biochar fraction with ‘random reflectance’, with no crediting of the labile biochar fraction.
Seed collection guide – Forest investment manager TTG Brasil has published a new guide to species for seed collection which features 50 plant species crucial for ecological restoration. The guide provides information on each species’ characteristics, seed collection methods, and their role in restoring degraded landscapes.
N-CDR – Novel CDR (n-CDR) technologies are unlikely to scale over the next 15 years, primarily due to limited voluntary demand, according to a recent analysis by Verdantix. Projections from the UN Intergovernmental Panel on Climate Change (IPCC) suggest that multi-billion tonne carbon removal capacity will be necessary by 2050. However, Verdantix’s assessment of technological and market trends reveals that, of three potential scenarios, only one envisions n-CDR reaching the scale required by the IPCC—and that scenario remains unlikely.
New appointment – BeZero has appointed Marine de Bazelaire, former group advisor on natural capital at HSBC, to its advisory board. With 25 years of sustainability experience, including two decades in financial services, de Bazelaire led HSBC’s nature strategy and ensured compliance with ESG regulations. BeZero’s advisory board, formed in July 2024, provides the business with independent advice on carbon markets. Its members include experts from Imperial College London, the University of Oxford, and Microsoft Western Europe.
AVIATION
As easy as 1 2 3 – The IATA and 123Carbon announced a strategic collaboration to develop interoperability between their respective SAF registries. Interoperability will increase transparency, avoid emissions reporting errors—including double issuance—and streamline certificate management across SAF registries, they said in a Thursday release. The collaboration between IATA and 123Carbon will focus on establishing three key elements: a unique identifier and alignment of the relevant data points to exchange between registries; a process for the exchange of information to avoid any potential double issuance; and a dispute resolution process.
AND FINALLY…
Big Uneasy – A major tree-planting initiative in New Orleans has been abruptly halted due to President Donald Trump’s orders freezing billions in federal climate funding. The freeze has jeopardised the work of the non-profit Sustaining Our Urban Landscape (SOUL), which was heavily reliant on funding from the Inflation Reduction Act (IRA). SOUL had secured $3.5 mln – 80% of its five-year budget – to expand operations, double tree-planting efforts, and support climate goals. The IRA funding was passing to SOUL via the Arbor Day Foundation, which allocated $1 mln, and the New Orleans Office of Resilience and Sustainability, which planned to give SOUL $2.5 mln to help the city meet climate action goals that rely heavily on trees and other carbon offsets to reach net-zero emissions by 2050. However, with funding cut off, the organisation is struggling to stay afloat, with layoffs and project cancellations looming. The lack of trees in New Orleans exacerbates climate risks, including extreme heat and flooding, particularly in historically marginalised neighbourhoods. Since Hurricane Katrina, non-profits like SOUL and the NOLA Tree Project have planted over 80,000 trees, but the city’s tree coverage remains significantly lower than comparable urban areas. While courts have ordered the unfreezing of IRA funds, the Trump administration continues to withhold them, creating uncertainty for SOUL and other affected organisations. SOUL is now seeking alternative support, urging Louisiana’s congressional delegation and state officials to intervene. (Grist)
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