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TOP STORY

LEAK: EU bets on renewables to lower energy prices, state aid to decarbonise industry

The EU plans to further accelerate the deployment of renewables to lower energy prices for energy-intensive industries and households, with new state aid measures to support investments in clean technologies, according to draft European Commission proposals due to be unveiled on Feb. 26.

AVIATION

US CORSIA exit could have major impact on EU ETS, say carbon analysts

If the US were to leave CORSIA there could be major ramifications for the EU ETS, carbon analysts said Wednesday.

EMEA

FEATURE: Biochar moves closer to coveted EU list of ‘permanent’ carbon removals

The European Commission aims to present draft legislation at the end of June to formalise certification methodologies for measuring CO2 sequestration from permanent carbon removals (CDR) – including one potentially dedicated to biochar, Carbon Pulse has learned.

Greens push for strong EU clean tech policy, echoing industry’s demands

The Greens in the European Parliament have urged the EU Commission to take a bolder approach to industrial policy in its upcoming initiative for a Clean Industrial Deal, echoing demands from the European clean tech industry.

BRIEFING: ‘Perfect moment’ to talk EU ETS for agriculture, as Commission considers next steps

Experts from across the agriculture and food industry see the prospect of a specific emissions trading system for agriculture and food sectors as firmly on the table, with the European Commission now considering policy vehicles to drive down greenhouse gas emissions in the sector.

EU new vision for agriculture signals cautious approach to carbon farming

Brussels is taking a measured stance on carbon farming, preferring to build on existing voluntary initiatives rather than impose a complex new system of capturing carbon on the EU’s 9 million farms, EU Agriculture Commissioner Christophe Hansen told Carbon Pulse on Wednesday.

Euro Markets: EUAs drop for sixth day in seven as afternoon gas weakness accelerates sell-off

European carbon prices extended their decline on Wednesday, falling for the sixth time in seven days and reaching a five-week low, as afternoon selling took Europe’s benchmark natural gas market close to Tuesday’s one-month low, and after weekly positioning data showed investment funds cut their net long positions for the first time in eight weeks as of Feb. 14.

INTERVIEW: Easier and cheaper to balance grid via households than power plants

Delivering grid balancing services by aggregating household energy demand is easier and cheaper than switching fossil fuel power plants on and off, according to a software company operating with a large European utility.

Confidence in UK’s net zero goal tumbles amid policy and investment roadblocks -report

Confidence in the energy sector’s ability to reach net zero targets has plummeted, with just 16% of senior executives believing 2050 goals are achievable, down from 45% last year, according to a report by a UK-based trade group.

Swiss insurance firm partners with German climate tech on in-kind carbon credit cover

A Switzerland-based carbon insurance startup announced it has teamed up with a German climate tech firm to provide in-kind insurance for its carbon credit projects.

Estonian carbon finance startup shuts down, blaming greenwashing in VCM

A carbon finance company specialising in de-risking forward carbon credit investments is shutting down, blaming the “broken” voluntary carbon market.

Biomethane producer taps registry for BECCS credit certification

A European biomethane producer has selected a carbon crediting platform to certify its carbon removal (CDR) credits for its bioenergy with carbon capture and storage (BECCS) projects, the companies announced on Wednesday.

AMERICAS

LCFS Market: Prices tank over 20% overnight after regulatory updates rejected

In light of a California administrator’s disapproval of recent updates to the state’s Low Carbon Fuel Standard (LCFS), credit prices in the secondary market plunged about 22.8% at market open Wednesday.

North American Clean Fuels Markets: LCFS credit prices plummet amid regulatory disapproval

California Low Carbon Fuel Standard (LCFS) credit prices plunged on Wednesday after regulator ARB announced that the state administrator had rejected programme updates, casting uncertainty over the implementation timeline of changes.

BRIEFING: Proposed changes to Washington ETS could jeopardise near-term climate goals, agency says

Newly proposed changes to Washington’s cap-and-invest programme that would increase near-term GHG allowances to make compliance easier may jeopardise the state’s 2030 and 2040 climate goals, legislators heard at a hearing, but stakeholders warned of affordability concerns.

INTERVIEW: Paraguay’s new regulations integrate voluntary carbon into Article 6

Regulations published Tuesday to help operationalise Paraguay’s 2023 law on carbon markets lean into the Paris Agreement’s Article 6, seeking convergence with the voluntary carbon market (VCM) to open opportunities for domestic projects, according to a senior official speaking to Carbon Pulse.

Colorado agrees to carbon credit lease with global reforestation firm

Colorado and a Netherlands-based global reforestation firm announced Wednesday a lease agreement to reforest wildfire-impacted state land, aiming to generate carbon credits under a public-private partnership approach.

Canada’s environment ministry addresses concerns over new DAC offset protocol

Environment and Climate Change Canada (ECCC) addressed questions regarding its recently published direct air capture (DAC) and CO2 storage protocol for federal offset credits during a webinar on Wednesday.

Nova Scotia clears way for fossil fuel, critical minerals development in net zero pursuit

Development of onshore gas and uranium would support Nova Scotia’s ambitions for a global net zero by 2050, according to legislation introduced Tuesday by the province’s minister of natural resources.

US CO2 conversion firm raises $83 mln in expanded Series C round

A US-based CO2 utilisation firm announced another $83 million in an additional Series C funding on Tuesday for a pilot installation.

ASIA PACIFIC

Rio to limit carbon credits use to 10% of its 2030 emissions target, rules out SMCs, climate report says

Miner Rio Tinto will now use carbon credits to meet some 10% of its 2030 climate targets, and will rule out using Safeguard Mechanism Credits (SMCs) to meet its Australian compliance obligations.

Santos pushes part of net zero target back by a decade

Australia’s Santos has pushed back the net zero target date for its Scope 2 emissions by a decade to 2050, while the 2040 date remains in place for its net equity share of Scope 1 emissions, its Climate Transition Action Plan (CTAP) released Wednesday showed.

Asian developer weighs Article 6 route for Uzbek methane reduction project

A Seoul-based developer is eyeing Article 6 status for a methane reduction project in Uzbekistan claiming to reduce emissions by 7 million tonnes of CO2 annually, the company told Carbon Pulse.

Optimising afforestation pathways can drive down China’s abatement cost -study

Afforestation should play a more significant role in addressing the financial challenges of achieving carbon neutrality in China, especially as the country pursues deep decarbonisation, according to a recent study.

Cost barrier slows green shift of Indonesia’s manufacturing – study

A shortage of green financing is curtailing Indonesia’s plan to decarbonise its manufacturing sector, which accounts for 28% of the country’s total emissions, according to research published Wednesday.

Indonesia’s captive coal needs reform, think tank says

Indonesia’s expansion of its less regulated captive coal sector will drive up emissions, cost more money, and hamper its transition to renewable energy, a think tank wrote Thursday.

VOLUNTARY

Climeworks secures carbon removal deals with tech giant and alcohol maker

Climeworks has signed two new agreements with a tech giant and alcohol distillery to remove over 6,000 tonnes of CO2 combined, the Swiss carbon removal (CDR) provider announced on Wednesday.

Integrating NbS across all support programmes “only way” to scale projects in Sub-Saharan Africa, says World Bank

The most effective strategy to scale up nature-based solutions (NbS) in urban areas of Sub-Saharan Africa will be the mainstreaming of projects into all the World Bank’s support programmes, according to an official, speaking at a conference in Nairobi on Wednesday.

HSBC delays climate target to avoid relying on offsets

HSBC has delayed its target to achieve net zero emissions across its operations, business travel, and supply chain to 2050, the bank said on Wednesday, pushing back its original 2030 deadline by two decades.

INTERNATIONAL

INTERVIEW: How to make carbon pricing multilateral, step by step

Multilateral carbon pricing schemes can be more effective in tackling carbon leakage and ensuring fair trade than unilateral measures — but they need to be phased in slowly, starting with common standards for pricing and reporting, according to an expert at the World Economic Forum (WEF).

BIODIVERSITY (FREE TO READ)

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UNEP FI signs partnerships to advance financial nature reporting

The UN Environment Programme Finance Initiative (UNEP FI) has signed two global partnerships aimed at advancing nature-related disclosures among financial institutions, it announced on Tuesday.

INTERVIEW: Biodiversity net gain broker announces soil testing partnership

An English consultancy with a newly launched biodiversity net gain (BNG) broker service has announced a soil testing partnership to back up nature claims.

Central banks urged to address nature degradation impacts on prices

Central banks should address the impacts of biodiversity loss alongside climate-related factors in monetary policy, as nature degradation has the potential to affect price stability in the long term, according to a policy brief released this week.

‘Biodiversity net gain is a success’, 47 organisations tell UK govt

Some 47 UK investment firms, environmental market actors, and property companies have signed an open letter to the government, championing the role of biodiversity net gain (BNG) policy in driving a “sustainable housebuilding revolution”.

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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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BITE-SIZED UPDATES FROM AROUND THE WORLD

INTERNATIONAL

Arctic allies – Russia and the US discussed possible cooperation on energy projects in the Arctic at a meeting in Saudi Arabia on Tuesday, a top Russian negotiator told Politico. Kirill Dmitriev, who heads the state-owned Russian Direct Investment Fund (RDIF), said the economic conversations had been about broad strokes, but that the two sides had discussed some “specific areas of cooperation”. “It was more a general discussion — maybe joint projects in the Arctic. We specifically discussed the Arctic,” Dmitriev said by phone as he boarded a flight home after the talks in Riyadh. The negotiations, which sidelined Ukraine and Europe, have sparked angst and urgency in key European capitals as US President Donald Trump and Russian leader Vladimir Putin look set to decide on Ukraine’s future without substantial input from Kyiv or its Western allies.

No rush – UN aviation agency ICAO has extended the deadline for emissions unit programmes submitting applications for re-assessment for 2027-29 CORSIA Phase 2 eligibility to Mar. 21, 2025, from Mar. 3 previously. Programmes already eligible for the first phase have been invited to apply to 2025 re-assessment by the agency’s Technical Advisory Body (TAB).

EMEA

Stick a label on it – Earlier this week, at a meeting of carbon and nature market stakeholders, France announced the establishment of a financiers club for its Low Carbon Label (Club des financeurs du Label bas carbone) in a bid to generate greater market activity for its domestic certification scheme. This initiative is expected to attract more financial players, mobilise additional resources, and improve the alignment of investments with climate and biodiversity objectives, according to a government statement. Participants also made commitments to develop Natural Compensation, Restoration, and Renaturation Sites (SNCRR) (Sites naturels de compensation, restauration et renaturation) and to advance the Low Carbon Label. These efforts are expected to create new opportunities for funding ecological projects and strengthening the credibility of carbon and biodiversity credits, the government said.

Green lit furnace – Tata Steel’s bid to build a £1.25 bln electric arc furnace at its Port Talbot steelworks has been given the green light by planners. Neath Port Talbot planning committee approved the plans to begin construction this summer, with the furnace expected to be operational by early 2028. Tata Steel expects the new furnace to create a “financially and environmentally sustainable” business following losses of it says £4 bln in Port Talbot since 2007. The EAF will melt mostly scrap steel and will replace both blast furnaces which closed in Port Talbot last year. The new EAF is expected to reduce CO2 by up to 90% compared with the previous blast furnace, with JCB already committed to buying green steel from it. (BBC)

New guidelines – Dutch development bank FMO has launched new guidelines to enhance fairness and effectiveness in household energy carbon projects. These consist of Benefit Sharing Guidelines that provide detailed guidance on ensuring the equitable distribution of benefits, and Stakeholder Engagement Guidelines that outline key principles and practical steps for engaging with local stakeholders. The latter are designed to foster trust and collaboration between project developers and local communities. The resources are expected to promote responsible and transparent carbon projects with tangible outcomes for local communities.

Neste’s downcurve – Finnish producer of renewable diesel and sustainable aviation fuel (SAF) Neste has pledged to significantly cut costs after a disastrous year in which its share price collapsed more than 60%. The world’s largest producer of clean fuels for cars and planes has spent almost $10 bln transforming from an oil refiner into a green fuels leader, but then found the market failed to grow as expected. The journey to decarbonisation is “volatile and non-linear”, said CEO Heikki Malinen. Malinen took over as CEO last October and is the latest executive to concede the energy transition will be slower than expected, following BMW’s recent warning of a “rollercoaster ride” in the US switch to EVs. The war in Ukraine and inflation spike have contributed to a dent in the mood for decarbonisation, said Malinen. Voluntary demand for SAF is lacklustre because of its high price point, while Europe-wide SAF mandates were watered down. Neste will cut operating costs by €250 mln a year, cancel its payouts to shareholders, and fire 600 staff. However, Malinen kept upbeat about the market’s long-term prospects, reinforcing Neste’s commitment to invest in a giant plant in Rotterdam, which would cement its market-leading position. (FT)

CCS purchase – Yinson Production has acquired Norway-based carbon capture and storage (CCS) company Stella Maris CCS from Altera Infrastructure, helping to expand its presence in the low-carbon market. Stella Maris is developing a full CCS value chain, and holds a 40% stake in the Havstjerne Reservoir on the Norwegian Continental Shelf. Developed in partnership with Harbour Energy, the Havstjerne CO2 injection and storage project has been selected by the EU’s Innovation Fund for a grant of up to $235 mln.

Totsiens, Kuyasa – After 14 years, developer Credible Carbon is winding down its support for the Kuyasa CDM project in South Africa, ceasing audits and credit issuance. The project in Khayelitsha, Cape Town was the country’s first to be registered under the Kyoto Protocol. It involved retrofitting over 2,300 low-cost homes with solar water heaters, insulated ceilings, and energy-efficient lighting to improve social, health, and economic conditions. Credible Carbon said the project set a precedent for integrating carbon offsets with community development and became the world’s first Gold Standard CDM project. Kuyasa demonstrated both the potential and challenges of carbon market participation, including the prohibitive costs of registration and verification for small projects, the company added. Despite saving over 6,000 tonnes of CO2 annually in its early years, Kuyasa struggled to sustain expansion due to financial constraints. Revenue from carbon credits, though beneficial, was insufficient to scale the initiative or maintain a full-time team, Credible Carbon said. Kuyasa influenced academic research and policy, informing South Africa’s Just Urban Transition and inspiring new approaches to climate justice. Lessons learned include the challenges of maintaining renewable energy technology, the evolving needs of low-income communities, and the complexities of carbon market compliance. Although financial sustainability remained elusive, Kuyasa’s impact on energy security, indoor air quality, fire risk reduction, and food security was significant, the company said.

Shareholder tussle – A group of 48 institutional investors has called on BP to give shareholders a vote on any plan it has to row back on climate goals, setting up a potential clash with US activist hedge fund Elliott Management. Elliott owns nearly 5% of the oil major and is pushing CEO Murray Auchincloss to divest significant parts of BP including some green energy investments. The recent call comes from investors, including Rathbones Investment Management, Phoenix Group, Robeco and Royal London Asset Management, who are worried Auchincloss will water down climate commitments and refocus on oil and gas. The group holds a combined 2.5% of BP shares, according to FT calculations. The demand increases the pressure on Lund and Auchincloss ahead of the investor day in London next week. BP in 2020 pledged to cut its oil and gas output by 40% by 2030 but two years ago, it reduced that to a 25% cut, and some investors expect the goal to be scrapped completely. BP remains the only oil and gas major with a hard target to cut output. Should the production target be lowered or removed, the shareholders want BP to share more about its fossil fuel spend to ensure it will continue to reduce emissions and is not left with stranded assets. (FT)

LoA approval – EcoLinks has secured a Letter of Approval (LoA) for its clean cooking project in Rwanda, allowing it to trade credits under Article 6.2 of the Paris Agreement. The project GS13116 VPA-1 EcoLinks Clean Cooking Project in Rwanda (GS 13117) aims to distribute 100,000 improved cookstoves to vulnerable communities across Rwanda in phase 1 and scale up during phase 2 to 500,000 improved cookstoves. The project will mitigate an estimated 227,487 tonnes/year and will be implemented over five years, the LoA stated. The project is now undergoing Gold Standard certification review after being validated by VVB Earthood, the developer told Carbon Pulse in an emailed statement. It’s also in advanced talks with multiple international governments, it said in November.

ASIA PACIFIC

Got the gig –  Australian fintech firm Trovio has been awarded a contract by the Australian government to develop and operate the National Vehicle Emissions Scheme registry, it announced. The contract was awarded by the Department of Infrastructure, Transport, Regional Development, Communications, and the Arts and will be powered by Trovio’s CorTenX platform. The NVES is a new initiative designed to support Australia’s transition to lower-emission transport by tracking and managing emissions credits associated with vehicle fleets. Trovio was responsible for developing the Clean Energy Regulator’s carbon, renewable energy, and nature unit registry, which launched late last year.

Clean energy boom – Clean energy technologies contributed more than 10% of China’s GDP in 2024 for the first time ever, with sales and investments worth 13.6 trillion yuan ($1.9 trillion), according to a new report written by analysts from the Centre for Research on Energy and Clean Air (CREA). Clean energy investment reached 6.8tn yuan last year, close to the global total put into fossil fuels in the year, and of a similar scale to the overall size of Saudi Arabia’s economy, the report showed. Electric vehicles, batteries, and solar continued to dominate the clean energy space in China, generating three-quarters of the value added and attracting more than half of all investment in the sectors overall.

Planned exchange – Korea Ocean Business Corporation (KOBC), a government affiliate, plans to establish an “international shipping exchange” which will lay the foundation for maritime derivatives trading such as eco-friendly fuels and carbon emissions, according to a statement released Wednesday. No further details on the planned exchange are provided in the statement. The plan is part of a broader policy package introduced by KOBC, which has allocated 3.4 trillion won ($2.4 bln) to support the domestic marine industry this year.

Decarbonise shipping – Japan’s Yusen Logistics has signed an agreement with Ocean Network Express for ONE LEAF+, a sustainable shipping solution designed to reduce GHG emissions, according to a statement. The two companies said they will procure “carbon footprint savings” generated by ONE and allocate them to customers working on reducing their Scope 3 GHG emissions. Accordingly, Yusen will terminate an existing carbon offset programme that has been running since 2022.

Potential in rice – Chemical company BASF Japan has teamed up with agricultural project developer Newgreen for a carbon farming programme in Japan, they announced Wednesday. They aim to support farmers in reducing methane emissions from rice cultivation using technologies that reduce water usage. Farmers will be able to earn carbon credits and create added value for rice with low methane emissions. The two companies did not disclose further project details, but said they will begin with a feasibility study and aim to launch a pilot programme by 2026.

Approved – Indian multinational IT firm Tech Mahindra has received approval from the Science-Based Targets initiative (SBTi) for its emission reduction targets of aligning with the 1.5C climate scenario. Under SBTi’s standards, Tech Mahindra has committed to reduce Scope 1 and 2 emissions by 58.8% by financial year 2030 and 90% by 2035 from financial year 2016 as base year. Meanwhile, the firm will target to reduce its Scope 3 emissions by 90% by 2035 from 2020 as base year, the firm said in an emailed statement.

AMERICAS

This is Trump territory now – Until Tuesday afternoon, the US Federal Energy Regulatory Commission (FERC) appeared relatively unscathed by President Donald Trump’s efforts to consolidate and expand his power over the US government. Then an executive order landed at FERC’s front doorstep and those of independent regulators across Washington. Trump’s order Tuesday declares all major actions by independent agencies that regulate the economy under White House control — from FERC to the Securities and Exchange Commission to the Federal Trade Commission. It is unprecedented in its sweep, casting aside laws dating back to 1887 that were designed to shield regulators of business and energy markets from direct presidential control. In the order, Trump argues that the president has sole authority over the executive branch. The so-called unitary executive theory has long been considered fringe, and many mainstream legal scholars believe it is illegal, since Congress set up the agencies specifically to act independently. (E&E News)

Will they or won’t they – Wednesday is the US EPA’s deadline for responding to a request by President Donald Trump to inform the White House whether the agency plans to challenge the endangerment finding for GHGs, a foundational scientific predicate for the regulation of heat-trapping gases under the Clean Air Act, reported E&E News. The EPA has been instructed by President Trump to reverse policies that impede the growth of oil, gas, and coal as he looks to unleash fossil fuel production in the country. It is unknown if the EPA’s response will be released publicly, but EPA head Lee Zeldin has said previously the agency was working to meet the deadline.

Rough legal waters – A coalition of environmental groups, represented by Earthjustice, have filed a lawsuit in Alaska’s District Court challenging President Trump’s executive order reversing protections for portions of the Outer Continental Shelf. The plaintiffs, including the Northern Alaska Environmental Centre, Sierra Club, and Greenpeace, argue that the order unlawfully revokes withdrawals enacted by former President Biden under the Outer Continental Shelf Lands Act to protect marine ecosystems from oil and gas development. The lawsuit seeks declaratory and injunctive relief, asserting that the president lacks the authority to undo these protections and that the administration’s actions pose environmental risks to coastal and marine habitats.

Fossil fuel fight – Minnesota District Judge Reynaldo Aligada has ruled that Attorney General Keith Ellison’s lawsuit against Exxon Mobil, Koch Industries, and the American Petroleum Institute can proceed in state court. The judge denied an industry motion to dismiss the case, allowing four of the five counts filed in Jun. 2020 to move forward. The lawsuit aims to hold the oil and gas industry financially accountable for the effects of climate change. The decision marks a notable legal win for state-led climate litigation after a series of recent state court losses in similar cases.

Revving up repeal – Rep. Kevin Kiley (R) has announced plans to introduce a Congressional Review Act (CRA) resolution to overturn California’s electric vehicle mandate. The resolution seeks to nullify a waiver granted by the US EPA in the final days of the Biden administration, which approved California’s Advanced Clean Cars II regulation banning the sale of gas-powered vehicles by 2035. Last week, EPA Administrator Lee Zeldin transmitted the rule to Congress for review. Kiley argues that the mandate restricts consumer choice and imposes economic burdens.

Tolling denied – In a letter to Gov. Kathy Hochul (D), the US Transportation Secretary rescinded federal approval for New York’s Central Business District Tolling Program (CBDTP), effectively terminating the congestion pricing initiative in Manhattan. The decision reverses the Federal Highway Administration’s (FHWA) prior approval, granted under the Biden administration, which allowed tolls for vehicles entering south of 60th Street. The Secretary determined that the programme does not meet the criteria for the Value Pricing Pilot Program, citing the lack of a toll-free alternative and the programme’s primary focus on revenue generation for the Metropolitan Transit Authority rather than congestion reduction. The FHWA will work with New York transportation agencies to facilitate cessation of toll operations.

Link on the brink – The Trump administration granted a deepwater port license for a major oil export terminal off Texas’ coast, bolstering its push to send US energy overseas. The US Department of Transportation’s Maritime Administration (MARAD) issued a record of the decision last week to Dallas-based Sentinel Midstream, giving it the green light to build a terminal about 30 miles (48.3 km) offshore of Freeport, Texas. The Texas GulfLink project, if completed, could fill tankers with as much as 2 mln barrels of crude oil a day. (E&E News)

Credit collaboration – VitalEco, a US company focused on orphan well remediation and methane prevention, has partnered with The Northern Trust Carbon Ecosystem, a digital platform for managing voluntary carbon credits. The agreement expects VitalEco to streamline the recordation, transaction, and settlement of its verified carbon credits, supporting efforts to seal abandoned oil and gas wells and restore surrounding land. The partnership aims to ensure transparency through third-party verification from All Consulting, an independent firm specialising in carbon credit validation and compliance, and CarbonPath’s science-based orphan well methodology.

Capturing carbon and contracts – Wood, a global engineering and consulting company, has been selected to provide operations and maintenance services for MTR Carbon Capture at a membrane-based carbon capture facility in Gillette, Wyoming. Located at the Wyoming Integrated Test Centre and managed by the University of Wyoming, the plant is part of a US DOE programme aimed at advancing point source carbon capture technologies. Under an 18-month contract, Wood expects to oversee asset management, maintenance, data capture, and inventory management to support CO2 sequestration and plant operations.

Hydrogen hype – Plug Power, a US-based leader in green hydrogen solutions, has announced plans to expand into the Indian market with multi-GW electrolyser projects by 2030. The company aims to accelerate India’s hydrogen sector by partnering with a local firm to enhance production efficiency and cost effectiveness. Plug Power’s President, Sanjay Shrestha, emphasised the need for supportive government policies, including incentives similar to US production tax credits, to drive market adoption. The company currently operates a 1.2-GW electrolyser facility in New York and is exploring further projects in Europe as part of its global expansion strategy.

Progress update – DiagnaMed, a provider of technology solutions for cleantech and life sciences industries, announced progress in commercialising its proprietary electromagnetic heating technology for hydrogen production. Developed by Dr. Qingwang Yuan at Texas Tech University, the technology is expected to enable direct hydrogen extraction from petroleum reservoirs and natural hydrogen fields. DiagnaMed is integrating this system into its operations to improve efficiency and scalability. The company is also strengthening its partnership with Québec Innovative Materials and engaging in discussions with petroleum and hydrogen exploration firms to repurpose existing oil and gas infrastructure. The initiative aims to advance cost-effective, low-carbon hydrogen production.

Forest first – ZEG Florestal – a subsidiary of decarbonisation solutions company ZEG, which itself is part of Sao Paulo-based Grupo Capitale – has launched its first forestry carbon credit project in the Amazon, reported Reset. By protecting native forests, the project aims to prevent unplanned deforestation, according to the outlet. The company has reached agreements with landowners for 14,000 ha, and said its REDD+ project in the Brazilian state of Roraima is expected to generate 4.5 mln credits over a 20-year period. ZEG Florestal plans is to seek Capitale clients interested in offsetting their GHG emissions. Folha de Boa Vista reported that the company will invest R$15 mln ($2.6 mln) over the next 18 months in the development phase of the Vale do Rio Branco Project – the first of its “REDDM” programme – for the implementation of fire-fighting infrastructure, maintenance and surveillance equipment, socio-biodiversity studies, and validation of the project with Verra, amongst other areas. ZEG Florestal head Carlos Jacob said the project is the first-of-its-kind in Roraima.

One step closer – Chile’s Council of Ministers for Sustainability and Climate Change on Wednesday approved the country’s Regulation on the Emission Standards Compensation System, bringing this initiative, which partially resembles cap-and-trade, one step closer to actualisation. Instead of distributing allowances via free allocation or auction, this standards-based system in previous iterations has allowed installations to earn credits by undershooting their caps and achieving independent certification of the mitigation results. GHG reduction or removal credits from Chilean voluntary carbon projects could also be used for compliance. After approval by the Council of Ministers, the regulation will likely need to be reviewed and signed by sectoral ministers before being submitted to the Comptroller.

VOLUNTARY

Offset backlash – Embracing carbon credits under the Science Based Targets initiative’s (SBTi) Corporate net zero Standard “would be a clear departure from the commitment to science-based approaches by the SBTi”, wrote signatories from a number of academic institutions in a piece on edie.net. Allowing offsets for Scope 3 emissions under the standard would undermine SBTi’s credibility and delay the transition away from fossil fuels, they wrote. They flag what they describe as ‘common credibility issues with offsets’, such as avoided emissions projects that often ‘rely on speculative baselines’, and the ‘uncertainty’ of enhanced removals such as reforestation. Burning fossil fuels contributes to lasting climate impacts that short-term sequestration from NBS cannot mitigate, they wrote. They point to the temporary nature of biogenic sinks and suggest a warming climate may weaken or even reverse the capacity of ecosystems to absorb carbon. There is also not enough productive land globally to meet demand for carbon offsets, and large-scale tree planting risks displacing small-scale farmers, they argue. Carbon offsets provide a mechanism to allow companies to delay the systematic changes required for deep decarbonisation, and incentivises greenwashing over genuine climate action. Instead SBTi should encourage companies to support climate initiatives via Beyond Value Chain Mitigation without counting these efforts towards their own climate targets, and should strengthen its commitment to driving real emissions reduction in company operations and value chains, they wrote.

AND FINALLY…

Hot potatoes – McCain Foods, the UK’s largest buyer of potatoes, has pledged £30 mln to support its network of 250 farmers facing climate-related challenges and rising costs. A poll of 100 farmers found that 57 had already experienced significant yield losses due to climate change, while 40% reported higher operational costs driven by shifting weather patterns. The UK’s wettest recorded 18-month period from Oct. 2022 to Mar. 2024 has exacerbated difficulties. Farmers also cited rising energy and fertiliser costs, partly linked to the Russia-Ukraine war, as major financial burdens. In response, 97% have considered diversifying their businesses, with 46% planning to install renewable energy generation. McCain’s new support package will adjust the price per tonne paid for potatoes to reflect increasing yield risks. Additionally, a 20% advance payment on contract value will be introduced to ease cashflow pressures. Part of the £30 mln will fund strategic investments, such as irrigation, drainage, and water storage infrastructure, to boost farmers’ resilience. (edie)

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