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TOP STORY
ANALYSIS: New EU climate proposals to have limited immediate impact on carbon market, experts say
The European Union’s new climate policies are unlikely to have a significant near-term impact on the bloc’s carbon market, but long-term uncertainties remain, analysts have told Carbon Pulse.
INTERNATIONAL
FEATURE: USAID freeze sets back American scale-up of international carbon markets
A sudden USAID funding freeze has jeopardised years of US efforts to onboard countries onto carbon markets and credit trading, sources familiar with agency operations told Carbon Pulse.
BRIEFING: CCS investment “sputtering” when it needs to soar, conference hears
Global investment in carbon capture and storage (CCS) is “sputtering” at a time when it needs to be accelerating, attendees of a major industry conference heard in London on Wednesday.
EMEA
EU’s corporate reporting Omnibus bill faces rough ride in Parliament
A European Commission proposal to delay climate reporting and due diligence obligations on companies operating in Europe is facing resistance in Parliament where centrist and left-wing lawmakers have warned against attempts to unravel the Green Deal.
EU energy chief announces transparency crackdown on gas markets
The European Commission is putting wholesale gas markets under close scrutiny as part of a renewed transparency push, wielding “possible sanctions” on those attempting to manipulate a market that is also driving carbon prices on the EU’s Emissions Trading System (ETS).
Euro Markets: Technical bounce triggers 10% jump in natural gas, drives carbon recovery
European carbon was firmer on Thursday, tracking a technical spike in natural gas prices after both markets had fallen for three days in a row after analysts described the gas market as oversold, while participants also highlighted increased hedging of March EUA options.
Germany to miss 2045 net zero target despite energy transition progress -report
Germany is set to cover nearly half of its energy needs with electricity by 2050, but emissions cuts will fall short of the country’s 2045 net zero goal, according to a report released Thursday.
Drax fires warning shot over BECCS investment in the UK
Energy company Drax Global could roll back investment in its flagship bioenergy with carbon capture and storage (BECCS) plant in the UK, it said Thursday.
Urgent action needed to tackle methane emissions -EU agency
The European Environment Agency (EEA) has said more action is needed to control and reduce methane emissions across Europe and globally, in a briefing published on Thursday.
Almost three-quarters of UK-based companies aim to offset residual emissions -study
Some 73% of organisations are planning to offset their hard-to-abate emissions using carbon credits, according to a survey of 300 UK-based senior executives across multiple sectors, which also found over 90% of respondents are confident their organisation will meet net zero.
AMERICAS
Cuba to leverage Article 6 finance to achieve conditional NDC targets
Cuba’s third Nationally Determined Contribution (NDC) has specified that it will use Article 6 cooperative approaches to secure climate finance, helping it to achieve conditional Paris Agreement goals.
Frontier buyers commit $30.6 mln in electrochemical DAC deal
Frontier has facilitated offtake agreements worth $30.6 million for an electrochemical direct air capture (DAC) developer to remove 47,000 tonnes of CO2 between 2027 and 2030, the buyers coalition announced Thursday.
WCI Markets: ETS extension optimism fuels CCAs higher, WCA programme tweaks spur a rally
Optimism from the start of discussions to extend cap-and-trade post 2030 supported California Carbon Allowance (CCA) prices higher after a sub-$30 auction result mid-week, while Washington Carbon Allowances (WCAs) reversed higher as lawmakers deliberated programme modifications.
California policy should integrate CCUS, CDR into ETS -buyers
California’s policy should incorporate carbon capture, utilisation, and storage (CCUS) and CO2 removal (CDR) into the state’s ETS in order to help de-risk and accelerate deployment of the emerging technologies, carbon buyers and investors said Thursday.
Apple faces class action lawsuit over use of “ineffective and redundant” carbon offsets
Tech giant Apple has been threatened with class action lawsuit in the US over allegations that it misled consumers by marketing its smartwatch as carbon neutral through the use of “ineffective and redundant” offsets.
Canada’s CDR procurement plan needs to be more ambitious, flexible to succeed, stakeholders warn
The Canadian government’s new pilot scheme for procuring CO2 removal (CDR) services has drawn mixed reactions from industry stakeholders, who say the programme must be more ambitious and flexible to position the country as a global leader in the sector.
Canadian nonprofit announces C$3 mln funding call for CDR
A BC nonprofit has launched a call for projects to apply for C$3 million ($2 mln) in available funding aimed at developing early-stage carbon dioxide removal (CDR) initiatives.
US tech billionaire family foundation grants $5 mln to NbS projects in Pacific Northwest
The family foundation of an American tech billionaire has announced $5 million in grants to support natural-based solutions (NbS) across the Pacific Northwest (PNW), aiming to accelerate climate change mitigation through ecosystem restoration and carbon capture.
ASIA PACIFIC
INTERVIEW: Southeast Asia-focused biochar developer secures fresh funds to expand in Cambodia
A Singapore-headquartered offset project developer has secured fresh funding to expand its biochar business in Southeast Asia, initially in Cambodia, its founder told Carbon Pulse.
Australian carbon accounting firm to offer credits on its software
A carbon accounting firm announced on Thursday it will offer a project developer’s carbon credits on its platform in what the companies called a “first of its kind” partnership in Australia.
South Korean steelmaker faces lawsuit for plans to extend blast furnace lifespan
A civil lawsuit has been filed to demand steel major POSCO, one of South Korea’s major carbon emitters, stop relining an ageing blast furnace in the Gwangyang region.
Philippines launches blue carbon initiative
The Philippines this week launched an action plan to scale up the production of high-quality blue carbon from mangroves and seagrasses, as the archipelagic nation looks to develop a national roadmap for leveraging marine resources to support climate goals.
VOLUNTARY
INTERVIEW: Oil-rich tree resolves food vs fuel debate, produces carbon credits, says startup
A startup backed by a US oil major and global industrial claims that the pongamia tree native to the subtropics can provide feedstock both for sustainable aviation fuel and protein — thereby resolving the food versus fuel land debate, while also generating carbon credits.
Millions of CORSIA-eligible cookstove credits will be ready by Q3, says developer
Cookstove carbon credits from a large clean cooking programme in Africa will be verified and made available for CORSIA Phase 1 by the end of the third quarter of the year, said the head of the project developer, paving the way for millions of eligible units to come on to the market per year.
Billions of tonnes of profitable CO2 storage up for grabs in mining waste, company says
The global carbon mineralisation industry could be worth tens of billions of dollars using existing mine waste, according to a white paper released Thursday by a startup in the space.
Verra releases new rice methodology to replace CDM protocol
Carbon standard Verra has released a new methodology that applies to projects implementing improved water and crop management practices in flooded rice systems.
Carbon removal standard updates verification with more frequent audits, dMRV cost measures
A carbon removal (CDR) registry and certification standard has introduced a new verification model and cost-saving measures, including adjustments to its auditing and digital monitoring, reporting, and verification (dMRV) processes.
Bloomberg, General Index expand voluntary carbon market partnership, over 200 credit price assessments added to Terminal
Bloomberg and benchmark provider General Index (GX) have expanded their strategic collaboration to enhance access to voluntary carbon market (VCM) price data on the Bloomberg Terminal, the companies announced on Thursday.
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.
FEATURE: EU omnibus proposals for nature reporting are “dangerous”
Stakeholders have strongly opposed the proposed two-year delay and the exclusion of smaller businesses from the Corporate Sustainability Reporting Directive (CSRD), arguing that these changes weaken market signals necessary to address the biodiversity crisis.
Scottish govt releases plan to scale nature financing
The Scottish government has released a plan outlining actions to drive financing towards biodiversity protection across the country, including developing an Ecosystem Restoration Code to scale up market-based investment.
Goldman Sachs Asset Management launches biodiversity bond fund
Goldman Sachs Asset Management announced on Thursday the launch of a global biodiversity bond fund to address investors’ increasing interest in nature, the firm has said.
UK tech companies announce AI-driven biodiversity risk partnership
An AI-focused research centre, established by a subsidiary of one of Japan’s largest insurers, and a nature data company have announced a partnership on a biodiversity risk product.
Biodiversity Pulse: Thursday February 27, 2025
A twice-weekly summary of our biodiversity news plus bite-sized updates from around the world. All articles in this edition are free to read (no subscription required).
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*NEW REPORT*
Supercritical’s 2025 Novel CDR supply briefing – To hit net zero by 2050, the carbon removal market needs to scale 14,000-fold. We can’t rely on a single method to get there – we need multiple solutions at gigatonne scale. Explore the state of cutting-edge carbon removal methods, including DACCS, BECCS, mineralization, and biomass storage in Supercritical’s latest supply briefing. Access here
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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
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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BITE-SIZED UPDATES FROM AROUND THE WORLD
INTERNATIONAL
One for the agenda – India should push for protective provisions in its free trade agreement with the EU to shield its industries from the bloc’s upcoming Carbon Border Adjustment Mechanism (CBAM), according to think tank Global Trade Research Initiative (GTRI). The carbon tax, set to take effect from Jan. 2026, will impact sectors such as steel, aluminium, and cement. GTRI warns that without safeguards, Indian exports to the EU could face high CBAM charges while EU goods would enter India duty-free post-FTA. The think tank argues that CBAM, which imposes tariffs based on production methods, violates WTO rules and must be addressed in the agreement. The issue is expected to be discussed as European Commission President Ursula von der Leyen and EU leaders visit India. Talks on the FTA, which resumed in 2022 after an eight-year hiatus, are ongoing, with the 10th round scheduled for March. The deal aims to boost trade and investment, with negotiations covering goods, services, investment protection, and geographical indications. India’s bilateral trade in goods with the EU reached $137.4 bln in 2023-24, making the EU its largest trading partner, while services trade stood at $51.45 bln in 2023. If the agreement is finalised, Indian exports like garments, pharmaceuticals, and steel could gain competitiveness in the EU market, while the EU seeks tariff reductions on automobiles, wines, and whiskey. (Business Standard)
EMEA
Check your diary – EEX has released the 2025 sales calendar for Germany’s national Emissions Trading System (nEHS), in coordination with DEHSt and UBA. Sales will occur twice weekly, on Tuesdays and Thursdays, from June 3 to Dec. 4. Certificates for 2025 will be sold at €55 each, while limited post-purchases of 2024 certificates are available at €45 until Sep. 18. Companies must surrender 2025 certificates by Sep. 30. EEX’s fixed-price mandate ends in 2025, with auctions set for 2026 within a price corridor of €55–65 per certificate, Thursday’s release confirmed.
Strategic shift – Iberdrola has said it won’t begin any renewable projects in the US this year, as part of a broader strategy shift unrelated to potential US tariffs that should not impact the company. Executive Chairman Ignacio Galan said on Thursday the company has already secured agreements for its renewable projects under construction there and its reliance on local producers protects it from any import tariffs. In a call to present its 2024 financial performance, Iberdrola announced provisions of €1.6 bln to adjust the value of its renewables pipeline, as it slows down renewables development in the US. It has already highlighted a more selective approach to renewables, as part of a strategic shift towards building and upgrading power grids that offer good revenue. The focus on grids has yielded results, with Iberdrola performing better than it foresaw in its strategic planning up to 2026, Galan said. Last year’s profit beat analysts’ expectations and also the company’s initial 2025 outlook as earnings from Iberdrola’s network business were boosted by higher tariffs in Britain, Brazil, and the US. It expects a mid-to-high single-digit net profit growth this year, following last year’s net profit of €5.61 bln, a 17% increase on 2023 gains, bolstered by asset sales. Iberdrola has roughly 9.7 GW of renewables capacity installed in the US, primarily onshore wind though is also developing some offshore wind. (Reuters)
About-turn – BP’s CEO is aiming to more than double the company’s market value within five years to $200 bln, capitalising on what he said is “tremendous” demand for oil and gas after this week abandoning a plan to reinvent itself as a green energy company. “At the end of the decade, it would be nice to be back to where we were before Macondo,” said Murray Auchincloss, referring to the 2010 Deepwater Horizon oil spill, which left BP with a $62.5 bln clean-up bill. On Wednesday, BP cut its annual spending on renewables by 70% and pivoted back to its core oil and gas business, in what it described as a “disciplined” approach to the energy transition. The plan, with a lukewarm market reception, is an acknowledgement by the oil major that the energy transition is moving slower than expected. The growing power demand of data centres would make gas the fuel of choice, said Auchincloss, who told the FT that most of BP’s growth will come from the US and Middle East.
Gatwick expansion – A second runway at Gatwick Airport has been backed by the UK government, providing measures to reduce noise are put in place. Transport Secretary Heidi Alexander said she was “minded to approve” the expansion, though her support doesn’t guarantee it as planning permission is still required. Some MPs, local authorities, and residents are strongly opposed, with the airport having until Apr. 24 to respond to demands for it to include measures such as noise mitigation in its overall plans before a final decision gets made in October. If planning permission is granted, works on the privately funded £2.2 bln expansion are expected to start immediately. Gatwick, south of London, is Europe’s busiest single runway airport, with more than 40 million passengers using it last year. (BBC)
Helping hand – The UK ETS Authority has published new and updated guidance documents to assist operators and verifiers in complying with the scheme. They were published Thursday on the UK ETS Technical Guidance and Tools page. The new guidance offers aid on uncertainty assessments for installations; monitoring and reporting biomass; completing the 2025 baseline data collection and applying for HSE/USE status; monitoring and reporting in relation to the free allocation rules; and help for installations ceasing operations.
ASIA PACIFIC
Flying funds – Around A$64 mln ($40 mln) of capital has been deployed by Silva Capital’s Australian Carbon Credit Unit (ACCU) Fund to date to environmental plantings projects, one of the fund’s foundational backers, Qantas, said in its half-year report Thursday. The airline added that it had committed A$100 mln of its A$400 mln climate fund. This included advancing its Queensland alcohol-to-jet sustainable aviation fuel (SAF) project towards final investment decision. It is also finalising sourcing US SAF offtake, and exploring SAF offtake imports domestically. Additionally, it said it had sourced 100% of its ACCUs for FY24 compliance purposes under the Safeguard Mechanism from natured-based projects. The airline added that 70% of its passenger offsetting programme, Fly Carbon Neutral, for FY25 will be sourced from nature-based projects. A greenwashing complaint has been lodged against the programme to Australia’s consumer watchdog.
Nature corner – Air New Zealand announced Thursday it has allocated NZ$1 mln ($570,000) to launch an initiative aimed at supporting nature restoration projects across the country. Dubbed Every Corner Project and funded through the airline’s Climate and Nature Fund, the programme is designed to ensure that money reaches communities that have limited access to sustainability financing, said the company. Under the initiative, eligible activities include planting native trees, establishing native gardens, food gardens, or beehives, reducing food waste, advancing nature and climate education, and restoring beaches, mangroves, wetlands, and waterways. Applications close on Mar. 31.
Mapping blue carbon – Singapore’s Centre for Remote Imaging, Sensing and Processing (CRISP) and Kumi Analytics signed an MOU to develop methodologies for blue carbon projects. Signed at Global Space Technology Convention and Exhibition 2025, the partnership aims to leverage satellite data to monitor and assess blue carbon ecosystems, focusing on mangroves, seagrass, and seaweed. National University of Singapore’s CRISP specialises in remote sensing and satellite analytics, while Kumi Analytics applies machine learning to satellite data. Kumi has previously developed a commercial mangrove carbon sequestration methodology using satellite imagery.
Cyclone CCS win – Modec said Thursday it had won a front end engineering and design (FEED) contract with Samsung for an offshore carbon capture and storage (CCS) project using one of its floating production storage and offloading (FPSO) oil vessels. This will be the first deployment of Modec’s CycloneCC tech, it said. It said that CycloneCC is well suited to an offshore maritime environment, as the unit footprint is up to 50% smaller than conventional solutions, with its largest equipment sizes reduced by a factor of 10.
Under consideration – Japanese shipping firm MOL has signed a MoU with Kansai Electric Power Company (KEPCO) to consider further collaboration on a carbon credit project, it announced Thursday. Under the MoU, the two companies will conduct research in Africa, Southeast Asia, and other regions to assess the feasibility of carbon removal projects. MOL said it is pursuing a carbon removal business, with the aim of removing a cumulative 2.2 million tonnes of CO2 by 2030.
Plastic VVB – Philippines-headquartered PCX Solutions has announced a partnership with Validation and Verification Body (VVB) Tuv Sud in the context of its Plastic Pollution Reduction Standard (PPRS). Tuv Sud will support the standard in quantifying the impact of PPRS projects, in a bid to reduce risks in plastic waste management and increase trust and accountability between projects and their stakeholders. “Our goal is to support sustainable initiatives while ensuring transparency and accountability throughout the plastic management value chain,” Khushboo Oswal from Tuv Sud said in a statement.
Demand change – A senator of the Philippines, Loren Legarda, has issued an urgent call for ocean protection through stronger commitments on marine biodiversity conservation, blue carbon ecosystems, and climate-resilient ocean governance. Her comments come in the run-up to the UN Ocean Conference, which takes place in June in France. “With just 100 days before the Ocean Conference, we must move beyond pledges and into action. We cannot politely request change, we must demand it,” reported the Philippine Information Agency.
AMERICAS
Getting down and dirty – The Colorado Department of Public Health and Environment’s (CDPHE) Air Pollution Control Division wrapped up the last of its public comment hearings as it develops a proposed landfill methane reduction rule. The CDPHE team will request a rulemaking hearing from the state’s Air Quality Control Commission in their April meeting. If approved, the rulemaking, which seeks to reduce methane pollution from municipal solid waste landfills, would be scheduled for August. The Colorado Air Quality Control Commission adopted changes to the state’s GHG reporting requirements in Oct. 2024 to include emissions from municipal solid waste landfills, supporting the new reduction rulemaking planned by the CDPHE.
Give us something – Trade group US Chamber of Commerce filed a motion Tuesday to prevent the state of California from implementing or enforcing its climate disclosure laws, according to court documents. SB 253 and SB 261 are the subject of litigation led by the trade group, who argued that the laws violated the First Amendment, federal supremacy under the Constitution, and limits on extraterritorial regulation. The latter two arguments were dismissed by Judge Otis Wright of a US District Court earlier in February. Tuesday’s motion asks the court to find that the laws likely violate the First Amendment and to prevent the state from enforcement while the lawsuit is pending.
Texas fights back – Texas and several business groups this month filed petitions at a federal appeals court requesting the review of US EPA’s decision in December to disapprove a revision to the Texas State Implementation Plan (SIP). The 2020 SIP revision addressed emissions during planned maintenance, startup, and shutdown (MSS) activities for certain Electric Generating Units (EGUs) and included requirements intended to address visible emissions as well as Particulate Matter (PM) emissions during planned MSS activities. However, the EPA determined that the mandates did not meet requirements under the US Clean Air Act. The petition filed by Business Coalition for Clean Air along with three other industry groups requests the US Court of Appeals for the 5th Circuit to vacate the decision and deem it unlawful.
Green-green-red – Two bills against CO2 pipelines in the South Dakota House advanced to the Senate, while one bill died on a narrow vote Tuesday. HB 1085, which looks to restrict CO2 pipeline construction in the state until federal rules are adopted to regulate the projects, and HB 1249, designed to safeguard landowners from unethical practices while establishing easement agreements, were both referred to the Senate State Affairs committee. Meanwhile, HB 1228, which would increase permit approval stringency, died on a 37-32 vote, failing to achieve two-thirds majority. The bills reflect salient unease surrounding CO2 pipeline development in the state, particularly as developer Summit Carbon Solutions awaits a decision from the South Dakota Public Utilities Commission regarding its pipeline permit application that it refiled in Nov. 2024 following a prior rejection in 2023.
Healthy competition – A bill that looks to reduce the volume of BC LCFS credits that are provided to imported renewable diesel producers was formally introduced in provincial legislature on Wednesday. Conservative MLA Kiel Giddens said that the province’s current LCFS programme has put Canadian workers and businesses at risk because American fuel producers are able to flood the market with subsidised diesel, while claiming BC’s low-carbon fuel credits. Giddens expressed specific concern for BC producer Tidewater Renewables, which he said is facing insolvency due to the issue.
Measurable milestone – Planetary Technologies, a Canadian ocean-based CO2 removal firm, claims it has removed 1,000 tCO2 from the atmosphere using ocean alkalinity enhancement. The process is undergoing independent verification by Isometric to determine its eligibility for carbon credits under ICROA-certified standards. As the organisation expands its efforts, it plans to collaborate with scientific institutions, regulatory bodies, and industry stakeholders to scale its operations toward gigatonne-level carbon removals.
VOLUNTARY
Storage support – Verra has opened a public consultation on its draft Methodology for Grid-Connected Energy Storage Systems (development ID #CN0157) in its VCS programme, the standard announced Wednesday. The proposed methodology quantifies GHG emission reductions from the operation of grid-connected energy storage systems to prioritise greater emission reductions over maximising net revenues, according to Verra. It is intended to support the accelerated decarbonisation of the electric sector by having energy storage systems discharge electricity in periods of high carbon intensity (i.e., when the marginal emissions rate is higher) and charge in periods of lower carbon intensity (i.e., when the marginal emissions rate is lower). An energy storage system also allows for the storage of additional energy from renewable energy sources, which can potentially reduce the curtailment of renewable energy sources that arises when these sources only supply to the grid. Verra said the methodology is globally applicable to new and existing grid-connected energy storage systems. The consultation will run from Feb. 26 through Apr. 11, 2025.
SHIPPING
Methane-cutting converters – Methanox, a joint venture between professors at Queen Mary University of London and University College London, and climate tech venture builder Prosemino, has secured a £1.5 mln investment from resource group Tharisa, with the funds going towards accelerating methane emission reductions from natural gas-powered ships. Unburned methane emissions can substantially diminish the environmental advantages of using natural gas over traditional marine fuel. Methanox aims to solve this issue through its new catalytic converters. It will look to address 0.24% of global CO2e emissions on up to 2,600 ships, with tech development taking place at the UK Catalysis Hub in the Research Complex at Harwell, Oxford. In situ vessel testing of the Methanox designed catalytic converters is expected to be deployed from 2H 2025, the press release stated Thursday.
SCIENCE & TECH
Carbon catch-22 – Natural CO2 sequestration by the planet’s trees and soil peaked in 2008 and is now declining by 0.25% per year, accelerating the buildup of CO2 in the atmosphere, according to a study published in the journal Weather. Analysis of the Keeling Curve shows that sequestration had been increasing by 0.8% per year in the 1960s but has now weakened. The Keeling Curve shows the rise in atmospheric CO2 over time, based on continuous measurements taken at the Mauna Loa Observatory in Hawaii since 1958. Without this decline, annual CO2 growth would be +1.9 parts per million (ppm) rather than the current +2.5 ppm. Researchers warned that this trend will require a 0.3% annual cut in emissions just to offset sequestration losses.
AND FINALLY…
Hard knock case – A group of youth plaintiffs’ attempt to revive their climate case against Virginia officials and agencies was blocked on Tuesday after the state’s Supreme Court rejected its appeal. The court said there were “no reversible error” in the appellate court’s decision to dismiss the case and refused additional petition for appeal. In the 2022 lawsuit, plaintiffs alleged the Virginia Gas and Oil Act’s directive for the state’s Department of Energy to maximise fossil fuel production and utilisation in the state violated their constitutional rights.
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