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TOP STORY

LEAK: Brussels set to postpone CBAM fees and trim reporting rules

The European Commission plans to defer the financial obligations for companies under the Carbon Border Adjustment Mechanism (CBAM) to 2027, from 2026, and raise the threshold of emissions embedded in goods that are subject to the fee, according to a leaked draft amendment seen by Carbon Pulse on Saturday.

EMEA

BRIEFING: EU’s clean industry push lacks ‘game-changer’ on energy, critics say

The European Commission’s upcoming Clean Industrial Deal initiative, due on Wednesday, lacks “game-changing” measures to reduce energy prices, such as a reform of the marginal pricing system for electricity, say EU steelmakers and trade unions.

EU handing out too many free carbon permits to heavy industry, says report

The EU is giving away too many free carbon permits to heavy industry in some cases, effectively subsidising some of the bloc’s most emissions-intensive sectors, a report from green groups has found.

Ukraine approves roadmap for national ETS

Ukraine has approved a roadmap for setting up a national emissions trading system (ETS) – although it would not become fully operational until the country’s war-torn economy has recovered, the environment minister has announced.

FEATURE: Oil majors tout CCS as only option to decarbonise UK’s hard-to-abate industries

A clear UK plan to spearhead development of carbon capture and storage (CCS) projects is urgently needed to decarbonise hard-to-abate industries and to achieve the 2030 clean power goal, according to the oil majors behind CCS clusters in England.

Euro Markets: EUAs stage gas-inspired afternoon rally as close correlation remains main driver

European carbon prices clawed back almost all of the morning’s losses of 2.4% on Monday afternoon, after an early boost from Germany’s general election result was quickly wiped out as EUAs resumed their close formation flying with natural gas, with TTF prices also rallying to recover heavy losses to end the day only marginally lower.

AMERICAS

California Democrats reintroduce effort to claim damages from fossil fuel companies

Democrats introduced two joint bills in the California Senate and Assembly on Friday seeking to claim compensation for alleged climate damages from fossil fuel companies.

RGGI Market: Easing winter demand, pre-auction positioning pushes RGAs sub-$22

RGGI allowance (RGA) prices sold off over the week with the benchmark once again sliding below $22 on Monday as near-term winter weather forecasts normalised and traders positioned ahead of the upcoming first quarterly permit sale next month.

Delaware bill aims to redirect RGGI proceeds to assist low-income households

A Delaware lawmaker has introduced a bill that would direct RGGI revenues to newly established and existing funds dedicated to assisting low-income households pay their electric bills.

US EPA confirms year-round E15 use in eight Midwest states

The US EPA on Friday reaffirmed it would allow year-round sales of E15 – gasoline blended with 15% ethanol – across eight states beginning late April.

Washington state Republicans motion for less stringent clean truck rules

Over a dozen Washington Republican senators have sponsored a bill that aims to prevent the state from adopting California’s Advanced Clean Trucks regulation, in favour of federal EPA standards.

Bills against CO2 pipelines gain traction in South Dakota

As a major CO2 pipeline developer awaits a construction permit in South Dakota, state legislators made progress with efforts to halt such initiatives until federal regulations are in place.

LATAM Roundup: Breakthrough in Paraguay as govt moves to create carbon hub

A long-awaited carbon markets regulation to implement Paraguay’s 2023 law and support the creation of a domestic trading hub launched last week, as Chile saw late-stage approval of its own standard, and Brazilian biofuels entered the crosshairs of US tariffs.

Brazilian forest restoration finance coalition gains new members

A Brazilian coalition for nature restoration and bioeconomy finance that launched last year, aiming to reduce CO2 emissions by 1 gigatonne by 2050, last week welcomed two new members.

ASIA PACIFIC

Australia’s Woodside doubles volume of carbon credits retired in 2024

Australian oil and gas company Woodside Energy roughly doubled the volume of carbon credits it retired in 2024, according to its annual report released Tuesday, as its critics accuse it of ignoring shareholder concerns about its climate strategy.

UNEP to support Pakistan Article 6 pilot project

The United Nations Environment Programme (UNEP) will provide technical assistance to Pakistan for a methane offsetting project in Punjab province that will help the country earn carbon credits under Article 6.

Fiji looks to launch national registry this year

Fiji is aiming to launch a public registry for its carbon projects by late 2025 in order to record free, prior and informed consent (FPIC) processes in a transparent way, according to industry groups working in the Pacific island nation.

Australian agency says Coalition’s nuclear plan would lead to 2 bln tonnes of CO2 emitted

The Australian conservative Coalition’s flagship energy policy to hold back the renewable energy roll-out and keep coal power online longer while a fleet of nuclear power stations are built would add an additional 2 billion tonnes of cumulative CO2 emissions, according the the country’s Climate Change Authority (CCA).

VOLUNTARY

VCM Report: Huge volume of REDD carbon credits retired by oil major, VCMI switches direction

An oil and gas major retired a huge number of REDD carbon credits to keep the market ticking over, while the Voluntary Carbon Markets Integrity Initiative (VCMI) signalled a shift of direction in a bid to kick start wider participation in the market.

Large-scale BECCS unviable due to environmental limits -analysis

Large-scale bioenergy with carbon capture and storage (BECCS), a key technology in many climate mitigation plans, is not viable outside agricultural land due to severe environmental constraints, according to a new study.

Scientists in solar-driven DAC breakthrough

Scientists have developed a solar-powered system that captures CO2 from the air and converts it into synthetic fuel, offering a potential breakthrough in carbon capture and utilisation technologies.

Simple expert advice can impact voluntary climate action, even when contradicting prior beliefs, researchers find

Members of the public are more willing to follow expert climate advice, even when it contradicts their prior beliefs, new research has found, offering potential for more effective voluntary climate action.

INTERNATIONAL

Singapore, Bhutan to sign Article 6 implementation agreement this week

Bhutan will sign an Article 6.2 implementation agreement with Singapore on Feb. 28, becoming the third nation to formalise the agreement with the city state, Carbon Pulse has learned.

Lack of global standards for GHG reporting resulting in under-reported methane emissions -study

A lack of standardised greenhouse gas reporting has led to significant underestimation of corporate methane emissions, potentially distorting climate policies and transition risk assessments, according to a new study.

AVIATION

BRIEFING: Path to SAF uptake lined with taxes on fossil jet fuel, flight surcharges, say analysts

Surcharges on flights to account for the cost of sustainable aviation fuel will become “relatively common practice” by 2030, while taxing fossil jet fuel could also be on the cards as a way to reduce the cost difference between traditional and clean methods, said analysts during an energy forum in London.

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.

Brazilian commission sets out path forward for national biodiversity plan

Brazil’s National Biodiversity Commission (Conabio) has issued recommendations on the targets that should underpin the country’s National Biodiversity Strategy and Action Plan (NBSAP), including halting deforestation, reducing harmful subsidies, and increasing public funding.

Scottish nature law proposals trigger biodiversity credit concerns

The Scottish government’s proposals to give politicians the power to modify key environmental legislation have triggered biodiversity credit concerns from a market actor.

Study flags gaps in research on chemical pollution impacts on biodiversity

There is a misalignment between studies of chemical impacts on nature and biodiversity measurements, according to a study led by the EU Commission’s Joint Research Centre (JRC).

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EVENTS

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

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

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

European Climate Summit – Apr. 1-3, Lisbon – To kick off our Annual Regional Climate Summit Series of this year, we at IETA look forward to welcoming delegates this Spring to our flagship European Climate Summit (ECS) 2025, taking place at the Pavilhao Carlos Lopes. ECS will take place amid a rapidly changing geopolitical landscape, even as carbon markets in the EU and globally continue to mature and expand. A new political cycle for EU climate action has begun, and the task of preparing carbon markets for their next stage presents both new challenges and opportunities. In this dynamic context, competitiveness, integrity, and innovation will be at the heart of our discussion. Be part of the conversation driving the next phase of carbon market evolution. Join us at ECS to engage with policymakers, business leaders, and climate market pioneers who are shaping the future of carbon markets. Organised by IETA, ECS is an in-person event. Register

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Job listings this week

• *(Senior) Quantitative Carbon Market Analyst EU ETS2, Veyt – Oslo/London
• *Carbon NBS Specialist/Project Manager, NatureCo – India/Southeast Asia/Indonesia/Brazil/Australia
• *Nature and Biodiversity Correspondent, Carbon Pulse – Remote
• Sales Strategy Consultant, AlliedOffsets – London
• Project Finance (Climate Finance), Senior Analyst, EcoSecurities – Portugal/Netherlands
• Senior Market Monitor (Financial Examiner 4) (In-Training), Washington State Department of Ecology – Lacey
• Cap-and-Invest Industrial Decarbonization Specialist (Environmental Planner 5), Washington State Department of Ecology – Lacey

*Premium listings

See all listings or post a job

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ADVERTISE WITH US

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

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BITE-SIZED UPDATES FROM AROUND THE WORLD

EMEA

Russia sanctions – The EU on Monday adopted its 16th round of economic sanctions against Russia for its invasion of Ukraine, with new measures targeting the country’s oil and gas sector, the European Commission announced on Monday. The new measures include: 1) A ban on the temporary storage of Russian crude oil or petroleum products in EU ports; 2) Prohibition to provide goods, technology, and services for the completion of Russian LNG projects to also apply to crude oil projects in Russia; 3) A ban on export of oil and gas exploration software to Russia; 4) Adds 74 additional vessels to the list of ships banned from EU ports, seen as contributing to the country’s energy revenues. In June last year, the EU had already decided a ban on reloading services for the transshipment of Russian LNG on EU territory, adding to a ban on the provision of gas storage capacity to Russians agreed the year before. Imports of Russian LNG to the EU rose by 18% in 2024, according to the European LNG tracker by the Institute for Energy Economics and Financial Analysis (IEEFA). IEEFA estimates that EU countries spent €6.3 bln on Russian LNG between January and November 2024.

Green growth – The UK’s net zero sector is growing three times faster than the country’s economy overall, according to analysis by the Confederation of British Industry (CBI). The net zero economy grew by 10% in 2024 and generated £83 bln in gross value added (GVA), it found. There are some 22,000 net zero businesses, employing almost a million people in full-time jobs, with an average annual salary of £43,000 – some £5,600 higher than the national average. Net zero businesses accounted for 1.1% of the UK’s total GVA, making it bigger than the farming and advertising and market research sectors, the research found. The sector is also widely distributed across the UK and demonstrates higher productivity than the UK average, supporting government claims there is no tradeoff between economic growth and net zero. (the Guardian)

Not on EU’s watch – The Copernicus Atmosphere Monitoring Service, implemented by the European Centre for Medium-Range Weather Forecasts on behalf of the European Commission with funding from the EU, has launched its Methane Hotspot Explorer app. This is a new tool to monitor and visualise the location of methane plumes close to real-time and identifying their potential main source. Additionally, it is possible to identify their main sources and differentiate between coal mining, oil, gas, and urban areas encompassing landfills, as well as identify unexpected or unknown sources.

Sustainability demoted – Top global banks have downgraded their highest-ranking sustainability roles and shrunk the dedicated teams because of the slower-than-expected climate action and backlash spurred by Republicans in the US, the Financial Times reported. HSBC, Standard Chartered, Barclays, and Wells Fargo are among the banks that have cut or re-shuffled their ESG roles, following a wave of expansions. Standard Chartered shrunk the team led by its chief sustainability officer, Marisa Drew, to about 90 people, from 140, over the past year, it reported. Many roles were reallocated, and some senior staff were laid off. Wells Fargo opted not to replace its chief sustainability officer, Robyn Luhning, after she left last year, instead promoting an existing staff member to head of sustainability after a gap of eight months. 

Drax’s new plans – Drax has unveiled a new sustainability strategy, committing to science-based nature targets and a net zero goal by 2040. The power company, known for its biomass-fired plant in Selby, North Yorkshire, aims to enhance transparency and environmental responsibility amid scrutiny over its wood sourcing practices. Key commitments include reporting nature-related risks under the TNFD framework by 2026, developing science-based targets for nature by 2027, and implementing location-specific ‘Nature-Positive Action Plans’ for biomass sourcing regions by 2030. Digital tracking systems will be introduced to ensure supply chains are free from deforestation, degradation, and conversion. The UK government will halve Drax’s subsidies from 2027, contingent on reduced generation hours and 100% sustainable wood sourcing. This follows recent controversy, including a £25-mln fine for misreporting wood sourcing and BBC allegations that Drax used whole trees from Canadian primary forests despite pledging not to. Drax’s climate goals include verified 2030 emissions reductions and a net zero target under review by the Science-Based Targets initiative (SBTi). The company has also revived plans to fit carbon capture technology to two units at Selby, with government approval granted last month. A climate adaptation plan covering operations and the value chain is set for release by 2027. (edie)

Grangemouth lifeline – The UK’s National Wealth Fund will provide £200 mln of investment in new opportunities in the Grangemouth oil refinery site in Scotland, Prime Minister Keir Starmer announced on Sunday. The funding is aimed at ensuring the long-term future of the industrial site in support of clean energy, and will be available for co-investment with the private sector. In addition, the government is providing a ‘training guarantee’ for all Grangemouth refinery staff to help them retrain for new jobs. This comes along with existing UK and Scottish government investments in the Grangemouth area, including £100 mln to support the community and its workers by investing in local energy projects.

Hydrogen clusters – The Spanish Ministry for Ecological Transition and the Demographic Challenge (MITECO) has provisionally allocated €1,214 mln to support seven renewable hydrogen clusters. Overall the budget should aid development of 11 different facilities with a total electrolysis power of 2,278 MW. The Spanish autonomous community of Aragon is set to receive the largest amount of aid with €384 mln for two hydrogen valleys (with seven projects), followed by Andalusia (€304 mln), Castilla y León (€259 mln), Galicia (€170 mln), and Catalonia (€98 mln).  The list of selected candidates may change however due to technicalities. The projects have production electrolysis capacity exceeding the minimum capacity of 100 MW and guaranteed purchase commitments for at least 60% of their production. Spain aims to install 4 GW of green hydrogen by 2030.

ASIA PACIFIC

ACCU estimates – Australian fuel distribution company Ampol said it expects to surrender 58,000 Australian Carbon Credit Units (ACCUs) to meet its compliance obligations under the Safeguard Mechanism for FY 2024, according to its annual report. The company’s Lytton refinery is covered under Australia’s emissions compliance scheme. The company said it was unable to achieve the scheme’s required 4.9% emission reduction to meet its baselines due to reliability and production issues, and would have to surrender ACCUs as a result. It follows miner Rio Tinto telling shareholders in its climate report that it expects it will have to surrender 1.1 mln ACCUs to meet its baselines.

Setting up shop – Italian energy storage company Energy Dome is establishing its APAC headquarters in Melbourne, Australia, the state government announced Monday. The company’s patented CO2 battery can store large amounts of intermittent renewable energy, which the government noted was well-suited for regions transitioning away from coal-fired power, adding that the company was looking at potential sites to build a battery in Victoria. The technology uses a thermodynamic cycle to draw down CO2 from a ‘dome’ gasholder, storing it under pressure, and then dispatching it by evaporating and expanding the gas through a turbine back into the gasholder, according to its website.

Sovereign green bonds – China’s finance ministry has released a framework for sovereign green bonds, which it said can pave the foundation for the country to issue such bonds and attract global capital to invest in its green development. Funds raised by the bonds can contribute to achieving China’s environmental goals such as climate change mitigation and adaptation, natural resource protection, pollution control, and biodiversity preservation, the ministry said. The Chinese government is reportedly planning to issue its first RMB-denominated sovereign green bond in London, according to Asian Investor.

SAF bonds – Japan’s Idemitsu’s sustainable aviation fuel (SAF) project has been selected by the nation’s Ministry of Economy Trade and Industry (METI) to earn GX Economic Transition Bonds, designed to create new markets and demand to reach net zero by 2050. Idemitsu said it would start SAF production in 2028 and create a domestic manufacturing system. It plans a final investment decision this fiscal year. It will use multiple oils and fats with greenhouse gas reduction rates as raw materials, such as waste food oil, soybean oil, and in the future, oil plants like pongamia. 

AMERICAS

Nothing about us without us – California’s carbon market watchdog, the Independent Market Emissions Advisory Committee, published its final 2024 annual report on Friday alongside public comments. The draft report chapters on affordability, allowance allocation, market design, offsets, cost containment, environmental justice, and carbon management, were each earlier published for public comment. IEMAC said that the report comes at a pivotal time, as California grapples with the impacts of a changing climate, the ongoing changes to federal climate and energy policy under the Trump administration, and the commencement of deliberations on the future of the state’s carbon market. The report chapter on environmental justice was not well received by Catherine Garoupa, co-chair of the environmental justice advisory committee (EJAC). Garoupa recommended for the elimination of the chapter in its entirety, due to IEMAC’s analysis of select EJAC recommendations, rather than its asks in entirety. IEMAC ultimately decided to publish the chapter with revisions.

New rules – The Colorado Air Quality Control Commission has approved new regulations to further reduce methane emissions and air pollution from the state’s oil and gas industry. The updated rules, part of Air Quality Control Commission Regulation 7, mandates the phaseout of natural gas-driven pneumatic controllers and pumps used in oil and gas pre-production and early production operations. Operators must replace these devices with alternatives powered by electricity, nitrogen, or compressed air, or ensure they are self-contained and do not release emissions. Facilities in areas that fail to meet federal ozone standards face a stricter timeline, requiring a 50% phaseout by May 2026 and full compliance by May 2027. Other operators across the state must phase out 25% of devices by May 2026, 50% by May 2027, 75% by May 2028, and 100% by Mar. 2029 – earlier than the federal deadline of Mar. 2029. Once fully implemented, the regulation is expected to eliminate 16,000 tonnes of methane annually. The updates also align the definition of disproportionately impacted communities with state law and introduce a mapping tool in Nov. 2024 to identify facilities requiring stricter emissions controls from 2026. Additionally, the regulations standardise monitoring, data collection, and reporting for pre- and early-production oil and gas operations, enhancing transparency and comparability of air quality data.

Renewables sale – National Grid has agreed to sell its US onshore renewables business to Brookfield Asset Management for $1.7 bln, as the sector comes in the firing line in the early days of the Trump administration. The deal, expected to complete in H1 of financial year ending Mar. 31, 2026, signals Brookfield’s dedication to clean energy and ability to make countercyclical bets. It’s part of a £6.8 bln capital raise programme announced by National Grid last year to fund investments in the power network. In the US, developers are waiting for news about the durability of tax incentives enshrined in the IRA as President Donald Trump takes steps to curb renewables, starting with offshore wind. The deal is the latest major investment by Brookfield in renewable power, following a £1.75 bln stake in UK offshore wind farms last year. National Grid will hold onto other parts of its business, including the power and natural gas networks it owns in New York and Massachusetts that serve more than 20 mln people. (Bloomberg)

Tree-mendous upgrade – AiDash, a provider of AI-driven remote inspection and monitoring for critical infrastructure, has launched CRIS 2.0, an upgrade to its Climate Risk Intelligence System aimed at reducing wildfire risks through proactive vegetation management. The system leverages satellite data and AI to offer utilities near-real-time insights into vegetation conditions, fire intensity, and spread potential. CRIS 2.0 aims to move utilities from reactive responses to proactive risk reduction by providing tailored recommendations across various timeframes. The update integrates with AiDash’s existing tools for grid inspection and monitoring, seeking to offer a comprehensive approach to wildfire prevention. The company also released an analysis of recent Los Angeles wildfires, suggesting they were detectable weeks in advance, and introduced a Wildfire Mitigation Playbook for modern grid safety.

Power couples – A new report by the Rocky Mountain Institute—a non-profit focused on accelerating market-based solutions for a low‐carbon future—outlines a strategy called “Power Couples” that pairs large electricity consumers, such as data centers, with new solar, wind, and battery installations near existing gas generators. The approach aims to fast-track grid access in the US by using clean energy resources to meet AI-related power demands while ensuring grid reliability and containing costs. According to the analysis, the model is expected to rapidly supply over 50 GW of new load at competitive prices with high percentages of carbon-free energy.

Data dispute – A lawsuit filed by the Northeast Organic Farming Association of New York, the Natural Resources Defense Council, and the Environmental Working Group challenges the US Department of Agriculture’s (USDA) removal of climate-related policies, datasets, and resources from its websites. The plaintiffs, represented by Earthjustice and the Knight First Amendment Institute, allege that USDA’s directive to unpublish these materials, issued on Jan. 30, violated the Paperwork Reduction Act, the Administrative Procedure Act, and the Freedom of Information Act, as the agency failed to provide public notice or consider the impact on farmers, researchers, and advocates who rely on these resources. The plaintiffs seek a court order to restore the removed content and prevent further removals based on the directive.

Ratio reporting – A coalition of international investors led by the Shareholder Association for Research and Education (SHARE), a non-profit organisation that supports responsible investment, is urging Canada’s largest financial institutions to annually disclose their Energy Finance Ratio, a metric comparing investments in low-carbon versus high-carbon energy sources. The coalition, which includes Denmark’s PFA Pension, aims to improve transparency and track progress on climate action. Proposals have been filed at Scotiabank, Bank of Montreal, CIBC, and TD, while RBC previously committed to disclose its ratio this year. SHARE argues that such disclosures are essential for evaluating banks’ climate-related financing and supporting the energy transition. Despite ongoing engagement, some banks have yet to adopt this reporting, which has already gained traction among American banks like JP Morgan and Citi.

SAF success – XCF Global Capital, a sustainable aviation fuel (SAF) company focused on decarbonising the aviation industry, has announced the start of commercial production of SAF at its New Rise Renewables facility. New Rise has secured its first order, selling over 3 mln gal (11.4 mln litres) of neat SAF to an unaffiliated third-party buyer, with initial deliveries expected to start in early March. XCF CEO Mihir Dange highlighted this milestone as a reflection of the company’s commitment to supporting decarbonisation of the aviation sector. This marks the beginning of XCF’s commercial production ramp-up as it aims to meet growing demand for clean energy solutions in aviation.

From waste to wood – Cambium, a US company focused on sustainable wood materials, has launched Carbon Smart Wood, a cross-laminated timber (CLT) product made from salvaged wood. The product aims to provide a more sustainable alternative to carbon-intensive building materials like steel and concrete by combining engineered wood strength with carbon reduction benefits, the company said in a press release Monday. Carbon Smart CLT claims to store about one tCO2 per cubic metre while meeting structural standards and supporting a circular economy. Cambium has partnered with leading CLT manufacturers, aiming to ensure consistent supply and quality for use in commercial, residential, and infrastructure projects. The company recently raised $18.5 mln in Series A funding to expand its operations, and will showcase its new product at the International Mass Timber Conference through a mass timber art exhibit created with industry partners.

Tit-for-tariff-tat – British Columbia Conservative opposition leader John Rustad proposed a retaliatory “carbon tax” on 18 Mt of US thermal coal shipped out of provincial ports and a ban on US funding for BC environmental activists, the Canadian Press reported Monday. The tax on coal could be used to “fight back” against US tariffs and duties imposed on Canadian softwood lumber that could increase to more than 50% if President Trump’s proposals are finalised next week. Softwood lumber has been a friction point between Canada and the US for decades. The US has applied anti-dumping and countervailing duties on softwood products, while Canada has taken its arguments to the World Trade Organization and challenged the duties under both NAFTA and the Canada-United States-Mexico agreement. Rustad also proposed a ban on allowing US funding for BC environmental activists, who he referred to as “troublemaking layabouts” who wasted police and courts’ time and “dragged our resource industries through costly litigation”.

CFOs still GAF about CSO mandates – Consultant BDO’s CFO Sustainability Outlook Survey of 500 CFOs at US businesses found that 44% would increase investment in sustainability under President Trump’s administration. Over 30% of respondents plan to focus on sustainability supply chain management and product development in 2025, while 22% responded that they’ll be focusing on carbon footprint reductions. Tech CFOs rank sustainable supply-chain management as their biggest focus, a component of which is managing carbon emissions at data centers. The majority, or 68%, of global respondents said their sustainability strategy is primarily focused on stakeholder expectations, while only 31% of US respondents agreed and 31% stated their primary focus was regulatory compliance.

Dismissed – A criminal case against major Democrat donor Ibrahim AlHusseini, accused of fraud linked to California-based progressive banking and carbon offsets company Aspiration, was quietly dismissed on Jan. 21 by Acting US Attorney Joseph McNally, The Daily Wire reports. The move came one day after Donald Trump took office but before his administration could appoint a new US Attorney for the Central District of California. AlHusseini had been accused by the FBI of falsifying financial documents to secure funding. Arrested in Oct. 2023, he was held in jail due to flight risk concerns but was later released on bail, backed by wealthy environmentalists, including CodePink co-founder Jodie Evans. Prosecutors then dismissed the case “without prejudice,” meaning charges could be refiled, but AlHusseini could leave the US in the meantime. The case stems from a civil lawsuit in which an investment firm alleged that AlHusseini used fraudulent financial statements to obtain loans, leading to losses exceeding $150 mln. A New York court later found him in contempt after he allegedly diverted funds to luxury spending and political donations to US Democrats instead of repaying the judgment. He was a board member and major investor in Aspiration, which had attempted but failed to go public through a SPAC deal. Investigations by Bloomberg and ProPublica have raised concerns about Aspiration’s financial practices, including inflated customer numbers and misleading claims about offsets. The sudden dismissal of the case has sparked controversy, with critics questioning whether political influence played a role. The Justice Department has refused to comment, while AlHusseini’s legal team has claimed that all records of the case have been expunged.

In mint condition – Brazil’s Ministry of Integration and Regional Development (MIDR), through the National Secretariat of Funds and Financial Instruments (SNFI), has entered into a partnership with the Brazilian Mint (CMB) to qualify it as a national carbon credit certifier, as per a MIDR press release on Monday. The initiative aims to create Brazil’s first fully national carbon credit certification service. CMB has expertise in issuing certificates and seals that ensure the authenticity of information, and per the release, the mint has worked with the SNFI to incorporate domestic circumstances into its carbon markets work. President Luiz Inacio Lula da Silva signed into law Brazil’s ETS (Portuguese: SBCE) in Dec. 2024. The SBCE will allow select voluntary carbon credits (CRVEs) into the national compliance system.

AND FINALLY…

Shelling out more – Rising temperatures linked to climate change is affecting egg production in Paraguay, leading to a 27% price increase in just two weeks, according to official data. The president of the Paraguayan Poultry Farmers Association (Avipar), Nestor Zarza, attributed a daily loss of 180,000 eggs to extreme heat, echoing regional trends. This mirrors past crises, such as the 2022 drought, which disrupted poultry farming and grain imports. While Paraguay previously relied on imported Argentine eggs, the situation has reversed in 2025, with Paraguayan eggs now being exported to Argentina, further straining local supply and prices. Scientific studies confirm that heat stress reduces egg production and quality, and in severe cases, leads to hen mortality. Zarza noted that modern cooling facilities remain scarce in the region, exacerbating the impact of rising temperatures. Egg prices are unlikely to stabilise until after Easter, when demand traditionally peaks. Despite the economic strain, key Paraguayan political figures have downplayed climate change, with the Minister of Agriculture expressing scepticism and top officials aligning with far-right groups known for climate denial. (Consenso)

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