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TOP STORIES
EU Commission unveils action plan for next-generation clean steel
The European Commission unveiled its Steel and Metals Action Plan on Wednesday, aiming to protect steelmakers from unfair global competition while putting them on track to cut emissions down to net zero by 2050.
Green groups chart way forward for clean, competitive steel in Europe
Environmental groups have presented proposals to shore up and decarbonise the EU steel industry, ahead of the European Commission’s Steel and Metals Action Plan due to be published later on Wednesday.
VOLUNTARY
EXCLUSIVE: Amazon launches carbon credit service for suppliers, companies
US-based tech giant Amazon has implemented a carbon crediting service to provide access to nature-based solutions and carbon removal (CDR) technology credits for qualified suppliers and companies, as the firm looks to support scaling the voluntary carbon market (VCM), a senior representative told Carbon Pulse in an exclusive interview ahead of the launch Wednesday.
INTERVIEW: New CORSIA carbon credit supply imminent but insurance sector must rally to scale market
The insurance sector must pull together to help the burgeoning CORSIA carbon market scale, a senior member of the World Bank’s MIGA insurance arm told Carbon Pulse, in the wake of a guarantee agreement with a clean cooking project developer that will see fresh supply imminently made available to buyers.
Despite growing attention, cost and policy barriers are still hindering CDR expansion -study
Despite growing attention from lawmakers and investors, the high costs and policy gaps surrounding CO2 removal (CDR) technologies are hindering efforts to meet global climate targets, according to a new study.
Global assurance provider acquires consulting and advisory firm specialising in offset projects
A global assurance and certification provider backed by Goldman Sachs Alternatives has acquired a US-based clean energy consulting and advisory firm that specialises in carbon offset projects.
EMEA
EU sees “no significant evidence” of evasion from maritime ETS, despite rising costs
A European Commission report taking stock of the extension of the EU’s Emissions Trading Scheme (ETS) to the maritime sector has detected “no significant evidence” of evasion or circumvention, despite an average 3.7% increase in overall shipping costs caused by the bloc’s carbon pricing scheme.
Euro Markets: Geopolitics drives gains across energy, EUAs get further push from options hedging
European carbon prices surged to their highest in nearly three weeks on Wednesday as markets reacted to Russia’s refusal to agree an unconditional ceasefire in Ukraine, and energy prices posted sharp gains as traders priced in a lower probability of pipeline gas supplies resuming in the near term, with EUAs getting additional support from options hedging.
Key EU lawmaker pushes back on ETS2 postponement
A leading centre-right MEP has expressed doubts about postponing the new Emissions Trading System for heating and road transport fuels (ETS2), in a pushback against growing calls for delaying the new scheme to prevent a consumer backlash.
UK presents ideas for revamping Grangemouth refinery into a clean industrial hub
The UK government is looking at credible long-term options for injecting new, low-carbon life into the country’s oldest oil refinery, as part of a wider push to spur clean and renewable infrastructure development.
Turkiye sees renewables rise to record share, coal use remains highest in Europe -report
Despite a record 18% of Turkiye’s electricity coming from wind and solar in 2024, coal remained the dominant power source, making the country Europe’s largest coal-based electricity producer, a report released Wednesday has revealed.
IMF-Morocco deal wraps up without implementing CO2 tax
Morocco has delayed introducing a long-awaited carbon tax that was expected to be part of a $1.2 billion financing deal with the North African country, the International Monetary Fund (IMF) has revealed.
UK imports drive 40,000 hectares of forest destruction each year -non-profit
The lack of regulation behind imported goods to the UK helped destroy an area of global forest equivalent to a mid-sized British city like Cardiff or Liverpool over the past year, according to analysis by a non-profit.
AMERICAS
BRIEFING: US states can help unlock domestic DAC growth, with or without federal support
US states have several mechanisms they can leverage to push direct air capture (DAC) development and adoption forward, with or without federal government support, according to panellists at a conference in New York on Tuesday.
North American Clean Fuels Markets: LCFS credit prices stabilise following positive signals from ARB
California’s Low Carbon Fuel Standard (LCFS) credit prices stabilised in March after regulator ARB indicated that programme changes could take effect in time for Q1 2025 reporting, while Washington’s senate considered a bill to increase the stringency of its clean fuels programme Wednesday.
New Mexico eases compliance CI standards in draft clean fuels programme rules
New Mexico’s environment ministry on Wednesday increased proposed carbon intensity (CI) levels as it drafts rules for the state’s Clean Transportation Fuel Standard (CTFS) regulation, thereby easing compliance obligations for gasoline and diesel while allowing for higher credit generation for renewable diesel (RD) and biodiesel suppliers.
Repealing federal vehicle emissions policies, tax credits could disrupt US EV market -report
A new progressive funded analysis estimates potential impacts of repealing US federal tax credits and EPA’s emissions regulations on electric vehicles (EVs).
Cleaner US manufacturing advantaged in more carbon-conscious world of trade -report
US manufacturers are two times more carbon efficient than the world average, and are well-positioned to take advantage of an increasingly emissions-conscious world trade environment, according to a report.
Canada can “pick up the baton” for DAC as US falters, lobby group says
Ottawa is well positioned to step in as a major direct air capture (DAC) player as the US sorts out national climate policies under the second Trump administration, the director of a Canadian DAC industry lobby group told a conference in New York on Tuesday.
Axing of Canada’s consumer carbon tax expected to have limited impact on inflation -report
A new report estimates that removing the consumer portion of Canada’s carbon tax could save drivers the amount added at the pumps since inception of the levy, but slow price growth minimally, according to a new report.
US DAC pilot with mineralisation to deliver credits in 2025
A small-scale direct air capture (DAC) project in southern Nevada that uses mineralisation to solve for storage issues is slated to deliver in 2025, the developer told conference attendees on Tuesday in New York.
Brazilian firms merge to expand NbS carbon offerings
An investment manager specialising in Brazilian farmland restoration and a Sao Paulo-based agroforestry consultancy have merged to expand their nature-based solutions (NbS) carbon offerings, local media reported this week.
ASIA PACIFIC
Pollination launches $10-mln capital raising to fund reforestation project in Timor-Leste
Global carbon advisory and project developer Pollination has unveiled a $10-million capital raise to fund for a reforestation project in Timor-Leste that it expects to see first credit issuance from within 12 months.
Emissions continue to fall from dairy giant Fonterra’s operations
Scope 1 and 2 emissions at Fonterra continued to fall in the first half of FY25, the New Zealand-headquartered dairy co-op reported on Thursday.
Australia kickstarts Hydrogen Headstart programme with A$814 mln
The Australian government has awarded its first tranche of cash under the Hydrogen Headstart programme, with A$814 million ($515 mln) to Copenhagen Infrastructure Partners’ (CIP) Murchison project in Western Australia.
Maori land trust strikes novel carbon credit leasing deal
A Maori land trust in New Zealand’s central North Island has struck an innovative agreement to lease its carbon credits, worth around NZ$9 million ($5.2 mln).
South Korea launches public-private council for emissions reduction R&D projects
South Korea has launched a special council that allows the government and emissions-intensive industries to advance the research and development of climate solutions.
Partners to promote carbon asset development in SE Asia
A Singapore-based consultancy and a Taiwanese natural asset management firm have teamed up to promote innovation in carbon asset development in the Southeast Asian region through advanced AI and remote sensing technology.
INTERNATIONAL
Coalition releases recommendations to reverse forest loss ahead of COP30 climate summit
A group of civil society and research organisations has issued recommendations for governments to reverse forest loss ahead of the COP30 UN climate summit in November.
SHIPPING
IMO takes first steps towards digitalisation of global shipping
The International Maritime Organization (IMO) has taken the first steps towards a global strategy for digitalisation, building on the use of emerging technologies to spearhead efficiency, safety, and sustainability in shipping.
Global shipping stakeholders not expecting major breakthroughs at IMO’s April meeting
An upcoming meeting at the UN’s International Maritime Organization’s (IMO) is expected to yield small incremental gains rather than a finalised set of policies, said several industry stakeholders.
VC firm launches $100-mln maritime tech fund
A Singapore-based venture capital firm has launched a $100-million maritime tech fund, the largest for the sector to date.
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.
UK urged to mandate nature-related disclosures, overhaul GDP accounting
A London-based think tank has urged the UK government to reform how nature is integrated into corporate strategies and public finances, warning that biodiversity loss will disrupt the national economy in the long term if not urgently addressed.
Species conservation actions highly effective in curbing extinction risk, study says
Species conservation actions over the past few decades have proven effective in preventing wildlife extinctions, though greater efforts are required to achieve full recovery, according to a paper released this week.
Accounting for Nature unveils plans to launch commercial entity
Environmental accounting non-profit Accounting for Nature (AFN) has unveiled plans to launch a separate commercial entity which will draw from its environmental measurement standards to develop natural assets.
Put biodiversity on EU security agenda, MEP says
Biodiversity financing should be part of the EU security agenda due to the risks that nature loss poses to member states, experts said on Wednesday as the bloc launched plans to ramp up defence spending.
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NEW REPORT
How offtake agreements are shaping the future of biochar: Long-term offtake agreements are transforming the biochar carbon removal market — securing supply, stabilizing prices, and providing financial certainty. Supercritical’s latest report, Locked in or Left Behind?, explores key shifts in procurement strategies and what they mean for the future of carbon removal. With 62% of high-quality biochar credits for 2025 already committed and prices rising 18% in 2024, securing an offtake could be the key to guaranteeing supply and price stability.
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EVENTS
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
COP30 prep – A dialogue held Mar. 13-14 in Tokyo between Japan and Brazil has paved the way for COP30 and reinforced climate urgency. The 23rd Informal Meeting on Further Action on Climate Change (the Japan-Brazil Dialogue), brought together representatives from more than 30 countries in Tokyo. Delegates discussed the outcomes of COP29 in Baku last year and key issues for COP30 in Belém, ranging from finance to adaptation and accelerating global climate action. Participants highlighted the importance of public and concessional climate finance without loans, the need to promote public-private investment, and discussed alternatives for minimum financial allocations for small countries. On Mar. 25-26, the next meeting will occur in Berlin, with the issue continuing to be discussed.
Art.6 forms – The UNFCCC has released the host party authorisation for Article 6.4 emissions reductions forms. Key aspects of these are: details of an official authorisation ID, project and host party details, a statement of authorisation by the host party to confirm compliance with their NDCs, details of tracking and reporting mechanisms, and details on registry and oversight mechanisms. Further details here.
EMEA
Trouble ahead – Estonia is unlikely to meet its EU climate targets for the forestry and land use sector for 2021-25, which may require the country to purchase emission allowances worth tens of millions of euros, ERR reports. The final assessment of these commitments under the LULUCF framework will take place in 2027. According to the Estonian Environment Agency, increased land use intensity compared to historical levels makes meeting the target difficult, with no effective short-term solutions available. However, Estonia may be able to offset some of the deficit by transferring surplus allowances from other sectors. Outside the LULUCF sector, Estonia has largely met its emissions reduction obligations, with a 23% drop excluding forestry and land use, and a 9% reduction when including them. The energy sector, in particular, has shown a significant decrease in emissions due to a growing share of renewable energy. A major challenge in the forestry sector is the age of Estonia’s forests, with around 40% of stands being over 60 years old. This limits their carbon sequestration potential, as younger, fast-growing forests would be more effective at capturing carbon.
Mangrove protection – Qatar’s Ministry of Environment and Climate Change has partnered with ExxonMobil Research Qatar to boost mangrove conservation and restoration across the country. The collaboration aims to advance research on mangroves as a nature-based solution for safeguarding coastal ecosystems, according to the Gulf Times. As part of the initiative, a detailed map for mangrove rehabilitation in Qatar will be developed. Additionally, scientific modelling of coral reefs and seagrasses will be conducted to support aquaculture projects in selecting suitable sites.
Great British partnership – The UK’s state-run Great British Energy and National Wealth Fund will play different but complementary roles in the country’s clean energy market, the government said in a statement on Wednesday, setting out a partnership between the two. Great British Energy is tasked with supporting projects at all stages of their life cycle, from development to successful operation. It will evolve into a developer, owner, and operator of strategic energy assets. The National Wealth Fund, instead, is the UK’s principal investor and policy bank. Together, they will provide a strong end-to-end clean energy development and finance offer, it said. If a project is looking for development and capability support, it should go to the energy company. If it wants help financing a gap, it should go to the fund. Where a developer is unsure of which one it needs, it should go to both.
Swiss forests – A new report by Switzerland’s Federal Office for the Environment (FOEN) and the Swiss Federal Institute for Forest, Snow and Landscape Research (WSL) highlights the growing impact of climate change on Swiss forests. The Forest Report 2025, based on a decade of monitoring, warns that extreme weather events such as droughts, storms, and pests have weakened forests, reducing their resilience and increasing vulnerability to diseases like bark beetle infestations. In some regions, such as the Jura, the situation is classified as “critical”. Swiss forests play a crucial role in protecting people from natural hazards, storing carbon, purifying water, and supporting the timber industry. However, climate-related damage has led to more cases of forced utilisation, where trees must be harvested prematurely, often for energy use rather than wood products. Despite some positive trends in biodiversity, with increases in forest birds, snails, and mosses, nearly half of Switzerland’s wood-dwelling beetle species and 13% of forest plants remain endangered. Expanding protected forest areas, promoting near-natural forest management, and improving habitat connectivity are seen as essential to support biodiversity. To ensure long-term forest health and economic viability, the report calls for climate-resilient tree species, diverse forest structures, and better regulation of game populations to prevent excessive browsing. The findings will inform Switzerland’s Integral Forest and Wood Strategy 2050, which the Federal Council will decide on later this year.
ASIA PACIFIC
Verifiers needed – China plans to expand the number of eligible verifiers for projects under its national voluntary CCER programme, according to a notice published this week by the Certification and Accreditation Administration (CNCA). The government is seeking no more than 16 verifiers with experiences in offset projects related to fugitive emissions as well as energy and transportation sectors. Interested entities are required to submit their application materials by Apr. 2, CNCA said. China in June announced the first batch of qualified bodies to conduct validation and verification work under the CCER scheme.
Bare bones commitment – New Zealand is doing the bare minimum to stay in the Paris Agreement, said David Seymour, talking in his capacity as leader of the governing minority party ACT but who is also currently acting Prime Minister. Newsroom reported Seymour saying that the government’s modest second NDC – upping its reduction target for 2035 by just one percentage point compared to its 2030 goal – was it doing “no more than absolutely necessary to stay in the agreement” and the “minimum viable option”. However, in contrast to comments last month that the country should consider withdrawing from Paris, Seymour has now said that New Zealand should stay in as “the trade retaliation from not being in it would be greater than the cost of being in it” – but added that this might change in the future.
Exclusively false – The Victorian government has categorically denied it has been in talks with a coal-fired power plant operator to keep its fleet running longer than planned to maintain grid stability and keep the lights on. A statement from the Minister for Energy and Resources Lily D’Ambrosio said an exclusive published Tuesday evening in The Australian had “falsely claimed that EnergyAustralia, the Victorian Department of Energy Environment and Climate Action (DEECA) and the Australian Energy Market Operator (AEMO) have held talks about extending the operations of Yallourn Power Station beyond 2028. DEECA, AEMO and EnergyAustralia have confirmed that the claims are wrong”. There have been no “rolling talks” the minister’s statement continued, noting that the paper had not contacted the government for confirmation of its exclusive prior to publication. The Yallourn power station is still set to shut down in 2028.
No sign-off yet – Australian opposition leader Peter Dutton has promised that should his Coalition take power after this year’s election he will fast-track approvals for a 50-year life extension for the 40-year-old North West Shelf LNG export facility. It is a key approval needed before the Browse gas fields can be greenlit as backfill for the facility, whose original fields have been in decline for years. The state Labor government, which won a third election this month, signed off but it needs Environment Minister Tanya Plibersek’s approval also which may now come, or not, after the election. While Australian media reports the approvals process has been held up six years, NSW operator Woodside Energy has been beset by its own issues from partner misalignment in the facility, which previously had six equal owners, to the pandemic that pushed out sanction of resources projects worldwide. Plibersek has also been clear that any tick must go through the correct processes lest it see litigation from activists.
Expansion – Japanese project developer Towing has signed a MoU with Yazaki North America to expand its biochar production business in Mexico and Central America, it announced Wednesday. Starting from Mexico, the two companies aim to establish a business framework and provide innovative solutions that contribute to soil improvement, increased crop yields, and emissions reductions.
We made it – HKEX, which operates Hong Kong’s main exchange, in 2024 achieved carbon neutrality across its operations, according to a recent statement. As of the end of 2024, around 99% of the total floor space across HKEX’s offices and facilities worldwide was powered by electricity from renewable sources. In addition, HKEX has invested in carbon credits generated from afforestation and revegetation projects in China through its Core Climate marketplace to cover its remaining emissions. Around 55,000 carbon credits were applied towards HKEX’s carbon neutrality last year, the statement said.
Market for biofuels – India and Singapore are set to sign a Letter of Intent for a green shipping corridor during Singapore Maritime Week in a bid for the South Asian nation to export green fuels. Maritime and Port Authority of Singapore chief Teo Eng Dih told PTI that the discussions are ongoing, with the pact likely to be signed during the event. India wants to integrate its maritime sector with global networks via Singapore’s extensive maritime ecosystem. While at home, India has established a 5% biodiesel target by 2030 which would require nearly 4.5 bln litres of biodiesel annually, according to the International Energy Agency.
Batteries for the west – The Australian government has announced four battery energy storage systems have been successful in the first round of its Capacity Investment Scheme in Western Australia. The projects will be able to deliver 654 MWh, enough to supply the peak electricity load for over 600,000 homes in the state for four house, the government said in a statement. The projects are expected to operational by Oct. 2027 and align with WA’s Reserve Capacity Mechanism. The next WA tender under the CIS is slated for mid-2025.
Forests out, farms in – Wednesday’s failed NZ ETS auction is further proof that the government is falling short on climate action and its main policy to achieve its goals isn’t functioning properly, said NZ Greens co-leader Chloe Swarbrick in a statement. She called for forestry to be removed from the ETS, agriculture emissions to be priced, and for free allocation of NZUs to end. The government “has put almost all of their climate eggs in the basket of market mechanisms like the Emissions Trading Scheme, and left a gaping hole in the basket”, Swarbrick said.
AMERICAS
Frozen funds feud – A federal judge has temporarily blocked the US EPA from reclaiming $20 bln in climate grants awarded during the Biden administration, delaying the Trump administration’s effort to halt the programme, E&E News reported. The ruling affects recipients including Climate United, which separately sued the EPA, its administrator Lee Zeldin, and Citibank over the alleged unlawful termination of its $7 bln clean energy grant. The EPA was ordered to justify its decision to freeze and cancel the scheme, but did not present direct evidence of waste, fraud, or abuse in its legal filing on Monday. US District Judge Tanya Chutkan, an Obama appointee, ruled that the EPA had not provided a legal basis for terminating the grants, but did not restore access to the funds while further court proceedings take place.
Name drop – BlackRock, a multinational investment company, announced adjustments to 135 funds, totalling $185 bln in assets under management, to align with new ESG fund naming guidelines from the European Securities and Markets Authority (ESMA), set to take effect in May. The changes include removing sustainability-related terms from 56 funds managing $51 bln. Despite these modifications, BlackRock stated that investment strategies will remain unchanged for funds dropping ESG-related terms. (ESG Today)
LNG limbo lifted – The US Court of Appeals for the District of Columbia Circuit has reinstated approvals for two LNG export terminals in South Texas, reversing its previous ruling that had revoked Federal Energy Regulatory Commission’s (FERC) authorisations. The court determined that deficiencies in FERC’s environmental review did not justify cancelling the permits for Rio Grande LNG and Texas LNG. While the projects can proceed, FERC must still conduct a supplemental review under the National Environmental Policy Act. The decision cited potential industry-wide impacts of delaying the terminals, one of which is expected to supply about 6% of global LNG demand once operational. (E&E News)
De facto no comment – In response to a lawsuit led by trade group US Chamber of Commerce, along with the American Farm Bureau Federation, and other California business groups against the state’s climate disclosure laws, regulator ARB submitted 28 pages of stonewalling as part of their reply earlier this week. ARB either denied the allegations, claimed no response was required, pointed to documents plaintiffs cited as speaking for themselves and which they said provided best evidence of their contents, or said they didn’t have sufficient information to believe the veracity of allegations made. SB 253 mandates companies doing business in California, with annual gross revenues over $1 bln, to disclose their full Scope 1-3 GHG emissions, while SB 261 requires companies doing business in California with annual gross revenues exceeding $500 mln to report their climate-related financial risk. The plaintiffs claimed the laws would impose “massive” costs on businesses and violate free speech protections in the US Constitution by compelling disclosures, and were ultimately invalid as they acted as de facto national emissions regulation. ARB was required to respond to the Central District of California court by Mar. 17. A trial date has not yet been set.
Collaborating for the climate – California and the Mexican state of Sonora signed a MoU on Monday to collaborate on clean energy development, supply chain resilience, and clean transportation. Governor Gavin Newsom (D) and Sonora Governor Alfonso Durazo Montano formalised the agreement during a meeting in Sacramento, marking a four-year partnership aimed at expanding access to renewable energy and addressing shared environmental challenges.
Forest funding – Canada’s Jonathan Wilkinson, Minister of Energy and Natural Resources, on Wednesday announced total federal investment of over C$20 mln for 67 projects that will help to boost the competitiveness and resiliency of British Columbia’s forest sector. Among them was an economic feasibility study to determine if rehabilitating the Tremont or Sparks or Young Lake Wildfire Area will provide an economic opportunity through carbon credits. The Kamloops-based Secwepemcul’ecw Restoration and Stewardship Society was granted NRCan funding of C$184,355. “This project will enable the Secwepemcul’ecw Restoration and Stewardship Society to strengthen collaboration among Secwepemc communities, build restoration capacity and assess the economic feasibility of funding wildfire-affected forest rehabilitation through marketable carbon credits,” the federal government said.
A shiny new tool – The carbon consulting firm Carbon Direct unveiled a new tool available to companies looking to better assess how they deploy climate investments. The Levelized Cost of Carbon Abatement (LCCA) model seeks to help investors and decision-makers make science-driven analyses on real climate impacts vs. costs. Conventional modeling tools, such as marginal abatement costs curves and levelized cost of energy comparisons are too generic and simplistic to base decisions on. The LCCA, on the other hand, is an updated version of these tools that can help make apples-to-apples comparisons across technologies, sectors, and locations. The tool can help users find the “right inputs to find the right results,” the Carbon Direct team said during a demonstration webinar Wednesday.
Tides turn for tech – BlueShift, a US-based climate tech startup, has secured $2.1 mln in pre-seed funding from ConocoPhillips, Ridgeline, and the Massachusetts Clean Energy Center. BlueShift plans to use its electrochemical technology to extract critical minerals from industrial waste and seawater while removing CO2 to combat ocean acidification. The company’s pilot facility in Boston Harbor will test its process, which aims to be more energy-efficient and scalable than existing methods.
Online offsets – DevvStream, a US-based carbon credit project co-development firm, has expanded its e-commerce sustainability strategy by integrating its D-PIVOT carbon offset tool into Shopify storefronts through partnerships with Zing, an e-commerce marketing and software development company, and Minimus Fulfillment, a third-party logistics provider. The tool allows consumers to offset the carbon footprint of purchases by buying voluntary carbon credits. DevvStream aims to scale the initiative across the Shopify ecosystem, which powers 28% of US online stores.
VOLUNTARY
A high bar – The Integrity Council for the Voluntary Carbon Market (ICVCM)’s new definition of eligibility for cookstove projects under the Core Carbon Principles (CCPs) sets a high bar, wrote research house MSCI Carbon Markets on LinkedIn. Of the 900+ registered cookstove projects that use wood as the primary fuel and have been rated by MSCI Carbon Markets, all currently use fraction of non-renewable biomass (fNRB) values greater than those stipulated by the model for fuelwood savings scenario (MoFuSS) or the default of 30%, it points out. To be CCP eligible, a cookstove project needs to be registered under one of the three approved methodologies (one Verra and two Gold Standard) and use an updated method for calculating the fNRB – a default of 30% or the MoFuSS. Around a half of projects use fNRB values that are twice the MoFuSS level, according to MSCI. No cookstove credits currently in circulation can use the high-integrity CCP stamp after the ICVCM imposed tough conditions to safeguard against over-crediting.
Initial screening complete – Symbiosis Coalition has completed its initial screening process for the reforestation and agroforestry request for proposals (RFP) previously launched and has arrived at a shortlist of priority projects for intermediate diligence. This stage will further narrow the list to finalists for full diligence, bringing it closer to signing first offtake agreements, it said on LinkedIn. Those who didn’t make the cut for the first cycle shortlist are encouraged to explore its early-stage project resources and investor database and stay tuned for future RFPs.
AA rating – Developer Graphyte has received the first AA rating for a biomass burial CO2 removal project from BeZero Carbon, removals registry Isometric has announced. Biomass-based carbon removal and storage (BiCRS) methods achieve higher CO2 retention than direct air capture (DAC) and enhanced rock weathering (ERW), according to recent research by the Royal Society of Chemistry. Since Nov. 2024, Isometric has issued over 2,227 high-quality removals for Graphyte’s Carbon Casting method under the Isometric Subsurface Biomass Carbon Removal and Storage Protocol. Read more here.
En route – Verra has opened a public consultation on a minor revision to CDM methodology ‘AMS-III.BM.: Lightweight two- and three-wheeled personal transportation (external)’. The consultation will run from Mar. 19 through Apr. 18. AMS-III.B.M. applies to project activities that help shift urban passenger transport to mechanical and electric bicycles and tricycles by developing supporting infrastructure, such as bicycle lanes, bicycle sharing programs, and bicycle parking areas. The proposed revision expands the methodology’s scope to include other two- or three-wheeled electric vehicles (e.g. electric motorcycles and scooters). The revision also allows for the inclusion of business-oriented delivery and transportation services, Verra said.
Goldilocks – Durable carbon removal (CDR) ecosystem players had varying opinions on the ideal economic trajectory for credits in a webinar Wednesday hosted by OPIS and CDR.fyi. Speaking to a pricing survey published in January, Joanna Klitzke, who leads procurement at buyers club Frontier, said that the focus needs to be on getting costs and price low to bring in more price sensitive buyers and scale offtake to finance development. But developers Diego Justiniano, CEO at Exomad Green and Nishad Pai, head of business development at Heirloom, warned that a premature focus on driving down prices could dampen the prospects of billion-tonne scale. The early CDR market continues to be challenged with high costs and competition, as other experts also warned that lowering costs may not crowd in buyers at a conference in New York City on Monday.
More protection – Canada’s largest land conservancy, Ducks Unlimited Canada, has announced protection for Melbourne Lake and McLean’s Lake Salt Marshes on Nova Scotia’s south shore. The group said protecting these habitats helps grow a network of protected coastal areas and fortifies the province’s coastline against the effects of sea-level rise. Nova Scotia has lost 60 per cent of its salt marshes to development.
Back to school – The Canadian Parks and Wilderness Society, a charity dedicated to protecting public land, has released a report card on Canada’s efforts to protect its lands and oceans. Ontario, Alberta, Saskatchewan and Newfoundland and Labrador all received failing grades for “limited ambition in nature conservation”, lack of conservation policies, and action. Quebec was the only province to receive an “A”, though it was an “A-”. The report said the province has protected nearly 17% of its lands, 10% of its marine territory, and committed significant funding to conservation.
INVESTMENT
Fundraising – DGB Group has successfully raised €725,000 through a private placement of shares backed by “strategic investors” to accelerate the Netherlands-based company’s project development and expand its portfolio of nature-based solutions. “The additional capital will support DGB’s expanding portfolio of nature-based solutions, reinforcing its leadership in the voluntary carbon market and driving further business growth,” it said.
AVIATION
Tackling contrails – Contrails must be tackled alongside CO2 emissions if we are serious about reducing aviation’s climate impact, writes the Clean Air Task Force. It recommends multiple approaches to tackle contrails (the wispy cloud formations that form behind airplanes at high altitudes). These are to reduce soot particles through fuel treatment and sustainable aviation fuel (SAF), optimise fleets for lower soot emissions, and smarter flight routing through using AI and altitude adjustments to avoid contrail-forming conditions. Policy action is also needed to mitigate contrails such as incentivizing the targeted use of SAF on high-contrail flights and funding research into low-soot engine designs and cleaner combustion technologies.
SCIENCE & TECH
Unprecedented – More than 150 ‘unprecedented’ climate disasters struck the world in 2024, according to the UN’s World Meteorological Organization (WMO). Its report on 2024 – the hottest year on record – sets out a trail of destruction from extreme weather including heatwaves, wildfires, floods, and storms. More than 800,000 people were displaced and made homeless, the highest yearly number since records began in 2008. Of the 151 unprecedented extreme weather events in 2024 listed by the report were six typhoons in under a month hitting the Philippines, and flash floods in Pakistan and Brazil that caused major crop losses. UN experts were particularly critical of the purge of climate scientists and programmes by US President Donald Trump, saying that ignoring reality left ordinary people paying the price.
AND FINALLY…
Great Egg-spectations – Several towns in France and Belgium have been distributing free chickens to residents as a strategy to reduce food waste, which contributes 8-10% of global GHG emissions, the BBC reported. Since 2015, the town of Colmar, France, has given out over 5,200 hens, with all 20 municipalities in the area now participating. The chickens consume food scraps that would otherwise be discarded, preventing over 270 tonnes of bio-waste from reaching landfills to date. Similar programmes have been implemented in Belgium and other French towns, with varying requirements for residents, such as maintaining proper space and care for the animals.
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