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TOP STORIES

Article 6 body launches interim registry, approves first CDM transition requests

The Supervisory Body for the Article 6.4 mechanism (SBM) agreed to launch an interim registry to help speed along the operationalising of the Paris Agreement Crediting Mechanism (PACM) at its first meeting of the year, also making the first approvals as part of the Clean Development Mechanism (CDM) transition process.

DATA DIVE: Article 6 project interest jumps 30% in past month as PACM momentum builds

The number of carbon projects signalling their interest in participating in the Paris Agreement Crediting Mechanism (PACM) has grown by 30% over the past month, a new update to the Carbon Pulse Article 6 Portal shows.

EMEA

INTERVIEW: Truckmakers defend ETS2 in face of political qualms

Europe’s truck manufacturers have stepped forward to defend the EU’s Emissions Trading Scheme for road transport and heating fuels (ETS2), saying a carbon price is the “cornerstone” of the transition to clean mobility, while acknowledging that social concerns also need to be addressed.

Euro Markets: EUAs chart 3% weekly loss on gas slump despite technical-driven recovery

European carbon prices rebounded on Friday back off technical support levels for a 2% daily gain, despite ongoing pressure from a bearish TTF gas market that saw EUAs succumb to a 3% weekly loss.

Tanzania passes law to bolster carbon credit market, boost climate finance

Tanzania’s parliament has passed a law aimed at bolstering the country’s carbon credit market, seeking to increase revenue from carbon trading while addressing climate financing challenges.

Kenya grassland project may receive carbon credit issuances, despite uncertain future

The owners of the world’s largest soil carbon project could still receive carbon credits, despite its future hanging in the balance, with no action yet taken by standard-setter Verra to prevent issuance.

WWF calls for separate EU target on carbon removals, with strict green criteria

Conservation group the WWF has called on policymakers to establish clear criteria for the development of carbon removals (CDR) in Europe, including separate targets to ensure technologies can scale up, accompanied by strict safeguards to prevent deterrence from emission reductions.

Ocean CDR could remove millions of tonnes of CO2 in Germany, but challenges remain -report

Germany could remove millions of tonnes of CO2 annually through ocean alkalinity enhancement (OAE) methods, although challenges remain regarding measurement and environmental risks, according to a new report.

Swiss registry launching consultation on biomass-focused standard for construction projects

A Swiss-based registry is launching a public consultation for a new voluntary carbon market certification system aimed at integrating biomass-derived carbon sinks into the construction sector.

AMERICAS

BRIEFING: Budget strains elevate concerns for California ARB’s environmental justice advisors

Statewide budget cuts in California raised concerns about the state’s ability to fulfill its environmental justice obligations at a joining meeting between regulator ARB and its advisory body on Thursday.

Pennsylvania sues federal agencies as over $3 bln in funds for climate projects still frozen

More than $3 billion in Pennsylvania’s emissions reductions efforts, such as mine reclamation and oil well plugging projects, are under threat as the new administration under President Donald Trump continues withholding money following its federal funding freeze announced last month, according to a lawsuit the state filed Thursday.

Bipartisan US senators reintroduce nationwide E15 sales year-round legislation

US senators proposed a bill that would fulfill President Donald Trump’s mandate for energy independence, allowing gasoline that is blended with 15% ethanol to be sold year-round.

Washington state lawmakers propose ETS amendments to enable linkage with California-Quebec

Two Washington state representatives introduced a bill on Friday proposing changes to the state’s cap-and-invest programme to facilitate linkage with other jurisdictions.

CFTC: CCA price slump draws in investors, RGAs shelved

Investors continued to build net length in California Carbon Allowance (CCA) as futures prices reversed mid-week ahead of the first quarterly permit sale, while traders reduced RGGI exposure amidst US-Canada tariff uncertainty, latest figures from the US Commodity Futures Trading Commission (CFTC) showed Friday.

Brazilian NbS group urges govt to engage private sector, follow recommendations for new ETS

An industry group of 20 carbon project developers and non-profits involved in nature-based solutions (NbS) have called upon the Brazilian government to include private sector voices and several other considerations when converting the country’s new ETS law into regulation.

ASIA PACIFIC

Delayed ACCU issuances see fourth exit pilot window slump, prices jump

The volume of Australian Carbon Credit Units (ACCUs) exiting and being delivered during the fourth pilot window is far lower than previously predicted, according to results published by the Clean Energy Regulator (CER) Friday, with more than half being rescheduled.

Singapore-based biochar developer expands to India

A Southeast Asian developer is setting up the first two of many biochar production facilities in Gujarat, India that it expects to generate a total of 1 million carbon removals credits by 2030, the company told Carbon Pulse.

Policy support needed for Malaysian steel decarbonisation

Malaysia has the potential to decarbonise its lagging and relatively small steel industry, but government support will be needed as the sector is experiencing a downturn that makes investment in green technology difficult.

CN Markets: CEAs barely move amid demand dip, liquidity drain

China continued to see muted trading activity in its national emissions market over the past week amid lacklustre compliance demand, while the national voluntary market remained stagnant without injection of new supply.

China’s HFC emissions surge, threaten climate targets, says study

China’s emissions from greenhouse gases used in cooling and refrigeration have skyrocketed since 2005 and now equal those produced by more than 500 natural gas-fired power plants in a single year, according to a new research.

INTERNATIONAL

Global electricity demand to rise nearly 4% annually through 2027, as CO2 emissions stabilise -report

Global electricity demand is set to grow at close to an average of 4% annually through 2027, while CO2 emissions from power generation are expected to plateau, according to a report released Friday.

Lack of updated NDC climate targets to slow Article 6 progress, warns rating agency

The flourishing of Article 6 trade may be hampered by countries failing to submit new Nationally Determined Contributions (NDCs) climate targets on time, according to a carbon credit rating agency.

VOLUNTARY

CAR poaches next president from Verra senior leadership

Voluntary carbon market (VCM) standard Climate Action Reserve (CAR) announced Friday the selection of its next president – a market veteran currently serving as senior leadership at competitor Verra.

Critical for carbon removals to be reserved for hard-to-abate sectors, researchers warn

Carbon dioxide removal (CDR) units must absolutely be prioritised for industries lacking viable decarbonisation alternatives, rather than being used to offset emissions from sectors that can more easily transition, a new study warns.

BRIEFING: Carbon capture is a public good, needs policies to drive growth -experts

Carbon capture and storage (CCS) is vital to reach net zero emissions, but projects need to be driven by climate policies to prevent the technology from being used as an excuse to keep fossil fuels alive, experts said.

Permafrost GHG loss may persist under global net-zero, net-negative emissions -study

Melting permafrost in the northern hemisphere is likely to continue releasing greenhouse gases even under stringent climate mitigation efforts, potentially weakening the effectiveness of CO2 removal (CDR) strategies, a new study warns.

SHIPPING

Maritime biofuels risk causing environmental disaster, warn green groups

A group of 69 environmental NGOs have urged the International Maritime Organization (IMO) to cast off biofuels for decarbonising the shipping industry because of their potential impact on ecosystems and communities, as key talks kick off on Monday to address the sector’s climate impact.

BIODIVERSITY (FREE TO READ)

All our nature and biodiversity articles remain free to read (no subscription required). However, we now require that all readers have a Carbon Pulse login to access this content in full. To get a login, sign up for a free trial of our news. If you’ve already had a trial, then you already have a login.

Biodiversity leakage widely overlooked in nature protection strategies, study says

Conservation and restoration strategies worldwide largely overlook the risk of biodiversity leakage, which could undermine global efforts to halt and reverse nature loss by 2030, according to a paper released on Thursday.

Australian startups partner to advance AI, eDNA-powered biodiversity monitoring

Two Australian environmental startups have teamed up to scale artificial intelligence (AI) and environmental DNA-powered biodiversity monitoring, aiming at supporting nature markets and reporting frameworks, they said in a joint release on Friday.

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EVENTS

Webinar: How to do offtakes right with Frontier, DLA Piper, and Supercritical – Feb. 20 (1700 GMT/1200 EST) – Join us for a free practical session on securing carbon removal to meet your net-zero goal. This expert-led webinar will explore the key considerations for designing high-quality offtake agreements that support both climate goals and business priorities. Whether you’re new to offtakes or looking to refine your approach, you’ll gain actionable insights into building agreements that de-risk early-stage technologies, maximize impact, and align with your net-zero strategy. Register

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

EVision 2025 – Mar. 5-6, Brussels – An energy system transitioning to net zero requires more flexibility. Electric vehicles can be a great source of flexibility for Europe’s energy system, but their potential remains largely untapped today. Eurelectric together with EY will quantify EVs potential, benefits to the power sector and costs savings for consumers at EVision 2025: power sector accelerating e-mobility at Autoworld. Register

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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ADVERTISE WITH US

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BITE-SIZED UPDATES FROM AROUND THE WORLD

INTERNATIONAL

Not gonna make it – American officials are expected to skip a board meeting for the world’s largest climate fund next week, in an indication of how the US could pull back from international climate efforts under President Donald Trump. The UN-brokered Green Climate Fund provides billions of dollars in assistance to poorer nations for responding to rising temperatures. The US has long held a seat on its board. But a spokesperson for the fund told E&E News that the US board member, identified as Victoria Gunderson on the fund’s website, has informed the GCF that she and her alternate will not be attending the meeting, which is set to start Monday in South Korea.

Not thinking about it – Russia is not considering withdrawing from the Paris climate agreement, Economy Minister Maxim Reshetnikov said on Friday. Moscow needs a couple of months more to provide the UN with its updated NDC plan to reduce carbon emissions, he added. (Reuters)

EU love to see it – A high-level dialogue between the EU and the Colombian government regarding common strategies on climate change – including carbon pricing – ended Wednesday. The discussions broached carbon market policies and best practices to decarbonise Colombia’s economy, drawing upon the EU’s experience establishing “fair and effective” carbon prices (El Espectador). Colombia’s ETS is slated to launch this year in an ‘enrolment’ phase, though the abrupt departure of former Environment Minister Susana Muhamad on Sunday may have caused some upheaval within the ministry’s plans.

AMERICAS

With love, from America – US President Donald Trump established the National Energy Dominance Council on Friday via executive order (EO), with the goal of advising the presidency on how the US can produce more energy to make America energy dominant. This was in line with Trump’s day one EO of “Unleashing American Energy” to tackle spirally costs and an affordability crisis. The council will recommend a plan to raise awareness on energy dominance and advise on actions each federal agency may take on the matter, such as approving natural gas pipelines, reopening closed power plants, and bringing small modular nuclear reactors online. It will be chaired by Doug Burgum, secretary of the Department of the Interior. EPA and DOE heads Lee Zeldin and Chris Wright will also serve on the council alongside representatives from the Departments of Defense, Agriculture, Commerce, and Transportation, among others. The executive order recognises domestic energy sources such as fossil fuels, coal, biofuels, geothermal heat, and critical minerals as national assets. Wind and solar are not mentioned, but the order acknowledges the “kinetic movement of flowing water”.

About that $20 bln we gave you – US EPA Administrator Lee Zeldin is seeking to reclaim $20 bln allocated to banks under the Biden administration, stating he wants to return the funds to the government immediately. However, legal experts warn that attempting to claw back money from the Greenhouse Gas Reduction Fund without cause could lead to contract breaches, potentially costing taxpayers more in damages than the amount Zeldin aims to recover. The EPA, under the Biden administration, worked with the Treasury Department to designate Citibank as the financial agent for two grant programmes: the $14-bln National Clean Investment Fund (a green bank) and the $6-bln Clean Communities Investment Accelerator. The funds are held in Citibank accounts under the names of the awarded organisations, and any income generated belongs to them for use under their agreements with the EPA. Contracts allow the government to freeze or recover funds in cases of waste, fraud, or abuse, but Zeldin has not cited any specific wrongdoing. Instead, he argues that the Biden administration rushed the programmes and failed to provide sufficient oversight. He claims returning control of the funds to the EPA would ensure accountability to Congress. Former EPA officials dispute this, asserting that the Citibank arrangement provides the same oversight as traditional federal grants. They also note that Congress set the EPA’s timeline for distributing the funds, which the agency met ahead of schedule. Additionally, EPA oversight capacity has been limited due to the Inflation Reduction Act’s small administrative budget and a lack of additional congressional appropriations. Legal experts caution that unilaterally withdrawing the funds or altering contracts could damage the US government’s credibility with investors and undermine private sector confidence. Zeldin has not clarified whether he intends to cancel or renegotiate contracts with the grant recipients, but extracting funds from Citibank would require renegotiation and could hinder green investment initiatives already underway, such as renewable energy projects and affordable housing development. Concerns also remain over whether the Treasury Department has the authority to freeze Citibank accounts for review, as it has with other grant programmes. The Treasury has not commented on the matter. (E&E News)

RGGI sword rattling – Republican legislators in Delaware on Friday threatened to introduce legislation to undo the state’s participation in RGGI if a separate bill intended to provide relief to electricity ratepayers is not passed, reported Delaware Business Now. Senate Minority Leader Gerald Hocker (R) and Representative Bryan Shupe (R) said, based on meetings with energy sector stakeholders, the regional power sector ETS is a contributing factor to rising electricity rates in the state, and that they will introduce SB 64 to redirect RGGI revenues to ratepayers – a move they said was inspired by a similar scheme in New Jersey. RGGI revenues in Delaware currently go to Energize Delaware for audits and conservation measures intended to allow businesses and consumers to cut their energy bills, and Republican legislators have been unsuccessful in previous efforts to unfund the programme. If SB 64 fails, the Republican lawmakers said they would introduce a SB 65 to repeal the state’s participation in RGGI. However, the pair also noted that, while reducing emissions is a shared goal, it should not come at the expense of affordability and reliability. Delaware is governed by a Democratic trifecta, with the party controlling the governorship and holding 15-6 and 26-15 seat advantages in the State Senate and State House of Representatives, respectively.

Too little, too late – A US EPA grant to the environmental justice group Climate Justice Alliance was cancelled Friday, as the group’s leadership blamed the Biden administration for failing to process $50 mln in committed funds prior to the start of the Trump administration. The programme, titled UNITE-EJ, was designed to address environmental and public health issues within environmental justice communities and organisations.

Sink vs source, part 1 – A new report has found that Colorado’s forests have shifted from absorbing carbon to emitting it due to insect infestations, disease outbreaks, and climate-related disturbances. The Natural Resource Ecology Laboratory said Colorado’s forests should no longer be considered a net carbon sink and warned that future reports would likely show even greater emissions, particularly after recent severe wildfires. Between 2010 and 2019, Colorado’s 22.8 mln acres of forest contained approximately 1,552 teragrams (TgC) of carbon. However, the state’s forests became a net carbon source, emitting 0.9 TgC annually. Tree mortality from 2002 to 2019 caused significant carbon loss, with 8.5 TgC removed annually from aboveground biomass, exceeding the 5 TgC added each year. Insects and diseases impacted about a third of the state’s forests and accounted for nearly two-thirds of carbon losses. Major infestations included mountain pine beetles, spruce beetles, and western spruce budworms, which affected over 20% of Colorado’s forests since 2000. The accumulation of dead and decaying wood increased fire risks, exacerbated by warm, dry conditions and prolonged wildfire seasons. National Forest System lands, which hold the most forest area and carbon stock, recorded the highest carbon loss, followed by private, state, and local government lands. The western regions of Colorado experienced the greatest carbon losses, though variations existed between different forest types. The report concludes that rising temperatures, continued drought, and increasing disturbances will likely sustain Colorado’s forests as a carbon source for the foreseeable future. (Down to Earth)

Seeing the forest for the forest – Canadian non-profit Forests Canada received a C$100,000 ($70,500) donation from RBC Foundation, the philanthropic arm of Canadian bank RBC, the two organisations announced Thursday. The donation will support tree planting and community initiatives. Earlier in the week, Forests Canada also announced a partnership with Canada’s Forest Trust Corporation, a nature-based solutions company, to create up to 125 ha of new forest.

Later, Chile – An auction of Chilean CO2 tax-eligible carbon credits scheduled for Feb. 20 has been postponed to an unspecified date, a representative of MexiCO2 – a subsidiary of the Mexican Stock Exchange and co-organiser of the event – told Carbon Pulse on Friday. The other organiser was international project developer Allcot, which would have been featured at a pre-auction roadshow on Feb. 12. The Chilean carbon tax compliance deadline is at the end of this month.

Suriname us a price – Suriname aims to position itself as a leader in carbon trading while transitioning to renewable energy, despite preparing for offshore oil production with its Gran Morgu project. At the Suriname Awareness Symposium, Foreign Affairs Minister Albert Ramdin reaffirmed the country’s commitment to sustainability and economic diversification, highlighting its potential in hydro, solar, and wind power, Oil Now reports. Suriname launched its carbon credit trading scheme under the Paris Agreement in Sep. 2023, targeting the sale of 1.5 mln ITMO credits at $30 each.

EMEA

Stress test – Rising carbon prices and shifting public sentiment on climate change could lead to a 10% drop in Barclays’ profits, according to a stress test by the UK bank. The findings, published in its annual sustainability report, show that the losses would be driven by  higher defaults in oil and gas sectors, reduced demand due to changing consumer preferences, and increased exposure to climate-related events and policies, including the expansion of the ETS and the implementation of the CBAM. These risks could be managed within the bank’s current risk management frameworks, Barclays said.

Sink vs source, part 2 – Finland’s state-owned forests remain a significant carbon sink, unlike the country’s forests overall, which have become a net source of emissions. According to the Natural Resources Institute Finland (Luke), state forests absorbed 6.8 Mt of CO2 between 2019 and 2023, while all Finnish forests emitted over 10 Mt. However, the carbon sink of state forests has declined by nearly 30% from 2014-18 levels. The state forest management company, Metsahallitus, has a target to increase the carbon sink by 10% from 2018 levels by 2035, aligning with Finland’s carbon neutrality goal. The decline is attributed to factors such as ageing forests, reduced canopy cover, increased soil emissions, and natural destruction from storms. Logging has had a relatively minor impact on state forests’ carbon sequestration. Metsahallitus has already reduced sustainable logging volumes in some regions to meet carbon sink targets, and further reductions are planned. Measures to enhance carbon sinks include leaving logging residues on-site, planting denser and faster-growing forests, extending rotation periods, and reducing drainage in peatlands. Continuous-cover forestry will be expanded in peat forests while being reduced in mineral-rich soils. (YLE)

Tax-embourg – Luxembourg’s carbon tax, which has been increasing annually since its introduction in 2021, has been effective in reducing emissions, particularly from fuel sales, The Luxembourg Times reports. However, the policy’s future beyond 2026 remains uncertain due to potential economic impacts. The tax on fossil fuels rose to €40 per tonne of CO2 in 2025 and is set to reach €45 in 2026 under the national energy and climate plan. A reassessment in 2026 will determine whether it continues beyond that year, a decision expected to spark political debate. Transport accounts for over 60% of Luxembourg’s emissions, with pump tourism playing a major role. While the tax has helped cut emissions from fuel sales, much of the reduction results from shifting emissions to neighbouring countries. The policy also threatens tax revenue, as fuel-related taxes made up 4.3% of total tax revenue and 1.2% of GDP in 2023. Projections suggest a potential €650 mln revenue loss by 2030. To address economic inequalities, half of the tax revenue is redistributed to support low-income households, while the rest funds climate initiatives. Despite Luxembourg’s relatively low carbon tax compared to some European countries, experts argue that a significantly higher tax – potentially €200/t – would be necessary to meet long-term climate goals. The OECD has recommended a gradual increase of €10/year to achieve a 50% emissions reduction by 2050.

Corridor horror – A vast new protected area in the Democratic Republic of Congo (DRC), covering an area the size of France, has drawn criticism from environmentalists and Indigenous groups for lacking local consultation and prioritising trade over conservation, Climate Home reports. Announced by President Felix Tshisekedi at the World Economic Forum, the 2,600 km-long “Green Corridor” will stretch from Virunga National Park to the Atlantic coast, forming what is claimed to be the world’s largest protected forest and a major carbon sink. Tshisekedi described the project as a model for balancing economic growth with environmental protection, promising job creation and sustainable development. However, Indigenous leaders and local communities say they have not been consulted and fear the project could encroach on their lands. Greenpeace Africa and other critics argue that the initiative risks perpetuating neo-colonialism, as it was designed without local input. The EU has pledged €42 mln in funding, with support from organisations such as Grameen Bank and the Schmidt Family Foundation. The project is part of the EU’s broader Africa-EU Global Gateway initiative, which is investing €150 bln in African infrastructure. Scepticism remains over the feasibility of proposed eco-friendly trade measures, such as hydrogen-powered boats. Critics warn that these ideas may be more about public relations than practical solutions. Local analysts point to previous conservation projects that failed to benefit communities, often restricting Indigenous rights to land and resources.

Green figures – Preliminary data from Sustainable Energy Authority of Ireland (SEAI) estimates that the country’s power sector emissions for 2024 stood at at 7.3 mln tonnes, a record low and 0.1 mln tonnes lower than in 2023. While gas usage remained stable, coal use declined slightly. A key trend was the surge in UK electricity imports, reaching over 5 TWh (14% of demand), the highest on record. Ireland’s carbon inventory excludes emissions from imported electricity, which are counted in the producing country.

Sweden ETS2 – Sweden’s request to unilaterally extend the scope of its ETS2 to new sectors became law on Friday when the decision was published in the EU’s Official Journal. With the decision, Sweden’s ETS2 now also includes railways, waterborne navigation, and vehicles used in agriculture, forestry, and fishing, as well as off-road machinery used in harbours and airports. Stockholm’s request was filed initially on July 19, 2024, and put to a four-week public consultation in September to collect comments from interested parties. The Commission approved the decision in November, and submitted a draft Delegated Decision to the scrutiny of the European Parliament and Council of EU member states, which had two months to express reservations and hold a vote to reject it. Since no such vote was held, the decision became law on Feb. 14.

Tender time – Birmingham City Council is exploring ways to maximise investment through their household insulation retrofit projects by selling the voluntary carbon credits generated from emission reductions and the social value created to organisations and businesses who wish to offset their carbon emissions. To better understand the market for this approach, the council is conducting soft market testing to gather feedback from potential providers, which may inform future procurement activities. Participation in the market testing is voluntary and does not guarantee involvement in future procurement. The council has developed a questionnaire for interested parties, which must be downloaded and submitted via the In-tend e-tendering portal by 1700 GMT on Mar. 7.

HACT off – Separately, international law firm Trowers & Hamlins has joined the Housing Associations’ Charitable Trust’s (HACT) Retrofit Credit Scheme, an initiative designed to fund the decarbonisation of social housing while delivering environmental and social benefits. HACT is a UK-based charity that collaborates with social housing organisations to drive value for residents and communities through insight-led products and services, encouraging innovation, and fostering collaboration. The retrofit scheme, developed by HACT in partnership with PNZ Carbon and certified by the Verra’s VCS, aims to support retrofitting efforts by improving insulation and low-carbon heating systems. Trowers & Hamlins describes its participation as a key part of its sustainability and social impact strategy, with a long-term goal of reducing its carbon emissions by 90% by 2050. The firm’s involvement in the scheme has contributed to a reduction of 120 tonnes of CO2e and generated almost £70,000 in social value, as measured by the UK Social Value Bank. (Housing Digital)

ASIA PACIFIC

Thai climate fund – Thailand’s proposed Climate Fund is expected to generate 1.1 trillion baht ($32 bln) in profits by 2050, the Department of Climate Change and Environment (DCCE) said on Friday. Part of the draft Climate Change Act, the fund will provide loans and grants for emissions reduction, climate adaptation, and research. DCCE director-general Phirun Saiyasitpanich said the fund will be overseen by a board, including the DCCE, and derive revenue from carbon credit sales, climate schemes, and government subsidies. It will offer green loans at lower interest rates and support carbon reduction technology and emissions reporting.

Thai credits – Kalasin province in Thailand has launched the Kalasin Provincial Carbon Credit Community Enterprise Centre to help local farmers access carbon markets. The centre provides training on afforestation, preventing open burning, and preparing for carbon credit assessment, enabling farmers to earn additional income while promoting environmental conservation. The initiative aligns with Thailand’s national strategy to expand its carbon credit market and achieve carbon neutrality by 2050. Thailand’s Stock Exchange is supporting the project with trading expertise. At the opening ceremony, officials from the Internal Security Operations Command, the Kalasin Provincial Natural Resources and Environment Office, and local community enterprise members participated. Training sessions at the event covered project participation, document preparation, reforestation, and pollution control, with a focus on reducing PM 2.5 pollution through a no-burning policy. (Dailynews)

J-Credits – Several revisions have been made under the J-Credit scheme to provide clarity on how carbon offset projects should be implemented in Japan, according to notices published Friday. The amendments include regulations about the necessity and timing of changes to project plans, additionality assessments in projects involving the introduction of equipment based on lease agreements, and requirements for programme-based projects. As well, the regulator has revamped several existing methodologies, including those related to the introduction of boilers and reforestation activities.

And more J-Credits – Japan’s Gifu Prefecture’s Gujo City, Ogaki Kyoritsu Bank, and Bywill Corporation have signed a partnership agreement aimed at achieving a decarbonised society in Gujo. The collaboration focuses on generating and distributing J-Credits, which represent reductions in CO2 emissions through energy-saving initiatives and renewable energy use. Gujo City has been actively working towards carbon neutrality, having declared its Zero Carbon City goal in 2021. Efforts include public awareness campaigns, subsidies for residential solar power installations, and a transition to energy-efficient government buildings. Additionally, the city established a regional electricity company in 2024 to promote local energy production and consumption. Ogaki Kyoritsu Bank and Bywill previously collaborated on decarbonisation initiatives, and this new agreement formalises their joint efforts with Gujo City. Bywill will support J-Credit registration, monitoring, and sales, while the bank will assist in local credit distribution, further promoting regional carbon reduction efforts.

And even more J-Credits – Separately, Bywill and Fuji Shinkin Bank have signed a customer referral agreement to support carbon neutrality in the Fuji area of Shizuoka Prefecture. The partnership aims to facilitate the creation and circulation of carbon credits by local SMEs, promoting a sustainable regional economy through a “local production and consumption” model. The agreement enables Fuji Shinkin Bank to introduce its clients to Bywill for support in generating, trading, and managing J-Credits.

Indian trees – Indian real estate developer Puravankara has pledged to plant 1 mln trees in and around Bengaluru by 2030 as part of the World Economic Forum’s Trillion Tree Movement (1t.org). The initiative aims to enhance green cover, restore biodiversity, sequester carbon, and support local ecosystems, contributing to the global goal of growing 1 trillion trees by 2030. Puravankara will focus on planting native tree species to ensure high survival rates, with the trees expected to absorb around 25 mln kg of CO2 annually. The initiative will also provide ecosystem benefits such as pollination, water conservation, and soil preservation, while supporting local communities through non-timber forest products. Puravankara has already planted 55,000 trees across 3.5 hectares in rural Bengaluru and an additional 7,000 trees in urban spaces. As part of the pledge, it will plant approximately 156,000 trees annually until 2030. (CSR Journal)

Expanded offering –  Tasman Environmental Markets’ (TEM) emissions calculation and offsetting tool, BlueHalo, has expanded its offering to travel management company Serko to allow its users to measure and offset users’ hotel and car bookings, in addition existing flight measurement abilities, the companies announced. Michela Morris, newly-appointed TEM CEO, said the newly integrated feature would allow Serko customers to choose more sustainable hotel and car offerings and compensate these emissions through high integrity carbon projects in line with corporate climate targets. The companies said it was the first automated solution of its kind in Australia and New Zealand. The emissions data and offset functionality is now available to customers using Serko’s corporate travel and expense management software, Zeno.

VOLUNTARY

Soil inoculation – Researchers from the Silva Nova Project, hosted by the University of Copenhagen, in collaboration with Leiden University and Tartu University, have published an opinion paper exploring the potential of soil microbiome inoculation to address challenges posed by agricultural legacies. The paper suggests that inoculating post-agricultural landscapes with bacterial and fungal communities, plant seeds, and soil fauna could enhance forest development and boost ecosystem resilience. However, selecting appropriate inoculation types, timing, and site compatibility is key, according to the researchers. This spring, the Silva Nova project will launch a large-scale field experiment in Denmark to test these concepts in practice.

Ocean MRV – The development of common MRV principles for marine CDR could help overcome key challenges in scaling ocean-based carbon removal projects, but “delivering this MRV with today’s understanding and technology could be prohibitively expensive”, according to a recent study published in Frontiers. While a unified MRV approach is feasible, substantial investment in advanced instrumentation and modeling tools is needed to reduce costs, the research said.

CDR purchasing facility – Altitude, a provider of CO2 removal (CDR) financing solutions, launched a new 50,000-tonne purchasing facility on Feb. 6 designed to accelerate durable carbon removal solutions. The facility, called Ascent 1, aims to support suppliers, and ensure long-term growth, price certainty, and market stability, the company said in a statement. The facility will focus on biomass-based removal technologies, and leverages long-term procurement agreements as well as a purchasing strategy to enable capital deployment for engineered CDR credits.

Warmer climes – Zefiro Methane Corp reported consolidated financial results for the fiscal quarter ending Dec. 31, 2024, with revenue reaching $7.5 mln – a 9% increase from the previous year. Noting seasonal disruptions to its operations from adverse weather conditions, the Florida- and British Columbia-based company said it aims to mitigate these challenges by expanding its well-plugging activities into Texas, Oklahoma, and Louisiana. Gross profit for the quarter was $0.6 mln, and revenue for the second half of 2024 rose 18% YoY to $17.5 mln. CEO Talal Debs predicted that 2025 could be Zefiro’s busiest year yet, highlighting growth plans aimed at expanding its operational footprint and market reach. CFO Mohit Gupta underscored the company’s strategic expansion, growing acquisition pipeline, and increasing demand for carbon credits due to rising power consumption from AI, data centres, and energy producers. Key business updates also included:

• Zefiro subsidiary Plants & Goodwin (P&G) secured certification to remediate oil and gas wells in Texas, where significant federal and state funds remain available for such projects. The company now operates in six states, with plans to expand further in the south-central US.
• It advanced well remediation efforts in Ohio, where $78 mln in public funding is available, and continued to plug methane leaks in the Appalachian region.
• Zefiro completed its first Oklahoma gas well remediation project in Nov. 2024, generating ACR-approved offsets.
• It also secured membership in Alberta’s Drilling and Completion Committee’s “Mature Asset Strategy Working Group”, addressing orphaned oil and gas wells in Canada. The company has also partnered with US government agencies for well-plugging projects funded through federal infrastructure programmes.

Just to be clear – Verra has issued clarifications to two CDM methodologies related to composting: ACM0022 (alternative waste treatment processes) and AMS-III.F. (avoidance of methane emissions through composting). These methodologies, which aim to reduce methane emissions from organic waste, now explicitly include insect composting projects under the VCS programme. The clarifications took effect on Feb. 14. The update confirms that composting encompasses all controlled aerobic biological treatments, including those using insects, microorganisms, and earthworms. Insect composting, an alternative waste management method, helps cut methane emissions by replacing anaerobic waste treatment and can provide additional benefits, such as alternative protein sources. Verra said the clarifications also offer further guidance on methane and N2O emissions factors, additionality demonstration, and the use of the latest IPCC guidance.

Partners – Avantium, a leader in renewable polymer materials, has entered an agreement with direct air capture pioneers Climeworks to supply another advanced adsorption testing unit. The collaboration aims to accelerate the large-scale deployment of DAC, which removes CO2 from the atmosphere and stores it underground in Iceland. Avantium’s high-throughput testing unit enhances the efficiency of CO2 adsorption material research, reducing sample mass and gas consumption by a factor of 25, leading to cost savings and improved comparability in testing. The unit has demonstrated a 98% uptime in 2024, strengthening Climeworks’ ability to scale DAC technology. Climeworks said it sees this as a crucial step in expanding its industrial-quality testing environment. The collaboration is expected to accelerate the global deployment of DAC systems.

Subject to the fine print – Ormex has received conditional endorsement from the International Carbon Reduction and Offset Alliance (ICROA), a step forward in its aim to establish a globally trusted standard for carbon credits derived from regenerative agriculture, the Paris-based carbon standard said Friday. Ormex is an international carbon standard dedicated to accelerating regenerative agriculture and sustainable land-use practices. It has a blockchain-backed registry.

INVESTMENT

Investors assemble – A coalition of 26 investors, managing a combined £1.2 trillion, has launched a new climate stewardship framework for the asset management industry and urged wider adoption. Convened by the People’s Pension, Brunel Pension Partnership, and Scottish Widows, the Asset Owner Statement on Climate Stewardship outlines five key principles for managing climate-related risks in investments. The principles emphasise integrating public policy engagement, prioritising collaborative initiatives, applying a robust theory of change for company engagement, maintaining a systematic voting approach, and ensuring adequate stewardship resourcing. The framework aims to bridge the gap between asset owner expectations and actual climate stewardship implementation. It’s described as a “living document” that will evolve through ongoing dialogue with asset managers. Signatories are encouraged to apply the principles in ways that align with regulatory requirements. The initiative comes amid growing challenges in climate finance. The Net Zero Asset Managers initiative (NZAM) recently suspended key reporting activities following high-profile departures, including BlackRock. Similarly, several major investment banks have exited the Glasgow Financial Alliance for Net-Zero (GFANZ) due to concerns over regulatory compliance and political opposition to ESG policies.

Soaring, slashing – Breakthrough Energy, a climate tech investor network founded by Bill Gates, is reducing its grant-making budget this year, Heatmap reported Friday. Several non-profit grantees were told earlier this month that their support from the network would not be renewed. The reductions will not affect Breakthrough Energy Ventures, the $3.5 bln venture capital arm of the network. A spokesperson from Breakthrough Energy did not confirm the pullback to Carbon Pulse and said that the group remains “committed as ever to using our voice and resources to advocate for the energy innovations needed to address climate change”.

Compliance concerns – Offset project developer DevvStream Corp. has received a Nasdaq delisting notice due to its share price falling below the required minimum. According to Investing.com, on Feb. 12 Nasdaq informed the company that its common stock price had remained below $1.00 for 30 consecutive trading days, violating Listing Rule 5550(a)(2). As of the notice, the stock was trading at $0.47, reflecting a 96% decline over the past six months, and around 80% since the company’s IPO last November, which it did through a SPAC deal. The Alberta-incorporated company, headquartered in Sacramento, California, now has until Aug. 13 to regain compliance by raising its share price above $1.00. If unsuccessful, it may qualify for an additional 180-day extension. The news comes days after DevvStream received a non-compliance notice from Nasdaq’s Listing Qualifications Department for failing to file its Form 10-Q for the period ending Sep. 30, 2024, violating Listing Rule 5250(c)(1). The company said it filed the missing Form 10-Q the following day (Jan. 23), ensuring that the notice does not affect its Nasdaq listing or trading status. As a result, DevvStream said it is not required to submit a compliance plan and expects to meet Nasdaq’s extended compliance deadline of May 19, 2025. Additionally, the company said it is finalising its 10-K and Form S-1 filings, which it intends to submit soon.

Done higher – Project developer Carbon Done Right has announced an increase in its previously disclosed non-brokered private placement, aiming to raise approximately $450,000 at $0.015 per share. The closing deadline has been extended to on or before Feb. 24, 2025, pending necessary approvals, including conditional approval from the TSX Venture Exchange.

AND FINALLY…

Less chocolate, more heartbreak – Chocolate prices are rising as the cost of raw cocoa has surged 200% over the past year due to extreme weather in West Africa, where most cacao is grown, NBC News reported. Increased heat and rainfall, linked to climate change, have fuelled fungal diseases and pests, reducing production by 13% in the 2023-2024 harvest season. To offset costs, manufacturers are incorporating more nuts and fruits into chocolates, and shrinkflation—that is, reducing product sizes without lowering prices—may become more common. Some companies, including Hershey, have attempted to secure larger cocoa supplies, but regulators have limited such purchases. Experts warn that long-term solutions will require sustainable farming practices to mitigate climate risks.

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