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TOP STORIES
EU’s 2040 climate target likely to be delayed, Commission admits
Days after confirming its commitment to publish a 2040 climate target proposal before the end of March, the European Commission made an about-turn on Monday, admitting that the deadline will likely be missed.
FEATURE: EU aims to adopt CO2 quality standard for CCS pipelines by mid-2026
Quality standards are essential for captured CO2 to be traded across the EU and flow across borders into pipelines, but too-high standards also risk inflating costs for industry, and regulators are seeking to find the right balance.
EMEA
Germany to subsidise ETS industrials with billions to decarbonise production
The European Commission has approved a German state aid scheme aimed at accelerating the decarbonisation of industrials covered by the EU Emissions Trading System (ETS).
‘Carbon cashback’: UK homeowners to win credits from energy efficiency savings
A platform to reward British homeowners for energy efficiency savings funded by the sale of carbon credits has launched in the UK.
Ghana initiative aims to mobilise $25 bln for carbon, biodiversity projects
A new public-private partnership in Ghana is set to mobilise $25 billion of climate finance to restore degraded land and waterways, while generating hundreds of millions of investment-grade carbon and biodiversity credits, the partners announced on Monday.
Climate tech firm, local university team up to generate carbon removal credits in Nigeria
A Nigerian climate tech firm has partnered with an agriculture university to generate high-quality carbon removal credits by planting indigenous African trees on the university’s land.
Euro Markets: EUAs almost unchanged as activity slows ahead of Wednesday options expiry
European carbon prices ended Monday virtually unchanged after largely rangebound trading, as the imminent expiry of March options contracts continued to focus the market around the leading strike prices, while natural gas recovered from early losses amid renewed efforts at reaching a ceasefire agreement in Ukraine.
ASIA PACIFIC
BRIEFING: The little-known rule that gives Australia’s carbon market oversight body real teeth
Australia’s Emissions Reduction Assurance Committee (ERAC) late last year invoked a rule it has never used before which could have significant implications for the four methodologies it is currently reviewing.
Australian Coalition would weaken, not scrap Safeguard Mechanism -media
Australia’s opposition Coalition would seek to weaken the Safeguard Mechanism, but not scrap it altogether, local media reported Monday, however little details were revealed beyond that.
Japanese beverage group outlines strategy for carbon credit purchases, development
A Tokyo-listed beverage group has formulated a carbon credit purchase and development policy that prioritises offsets from forestry and sustainable agriculture projects.
Japanese LNG drive would be better spent on domestic renewables -think tank
Japan would be better able to shore up its domestic energy security via investing more in renewables within its own borders than LNG projects outside of them, especially in geopolitically fraught areas, a think tank warned this week.
Indonesia has seen $1.1 bln allocated through JETP, ministry says
Indonesia has received $1.1 billion in international funding via the Just Energy Transition Partnership (JETP), a ministerial update said Monday, as the government stressed the US’s withdrawal would not affect other countries’ commitment to the initiative.
Firms partner with ADB to assist Jakarta with carbon pricing
A Switzerland-based climate finance firm, in partnership with a consultancy, has secured a contract with the Asian Development Bank (ADB) to assist the Jakarta municipal government in establishing a carbon pricing framework.
AMERICAS
RGGI Market: RGAs rocket up 10% WoW on back of sustained volumes, depleted CCR
RGGI allowance (RGA) prices rocketed up over 10% week-on-week last week due to strong buying interest in light of the depletion of the Cost Containment Reserve (CCR) at the Q1 auction earlier this month, traders said.
Washington’s cap-and-trade participation inches higher in Q1
The number of entities registered with active accounts in Washington’s cap-and-trade programme ticked up in an early look at Q1 data, the state’s Department of Ecology (ECY) figures showed.
Iowa lawmakers introduce bill to ban eminent domain for CO2 pipelines
Iowa legislators filed a bill this month to restrict the use of eminent domain for CO2 pipeline projects, adding to mounting challenges against a multi-state developer already facing uncertainty after South Dakota passed a similar legislation.
Canada awards C$150 mln for decarbonisation via carbon tax revenues
Canada is set to fund 40 decarbonisation projects with proceeds from its industrial carbon levy.
LATAM Roundup: Colombian CO2 tax offsetting mechanism rebounds in 2024
The offsetting mechanism within Colombia’s carbon tax saw increased use last year over 2023, two years after a national restriction was introduced, according to new Q4 2024 statistics.
Venezuelan ag guild leader proposes carbon markets to modernise the sector
The leader of a Venezuelan agricultural association is pushing for the government and farmers alike to embrace international carbon markets, according to local media.
AVIATION/SHIPPING
Hurdles in applying corresponding adjustments to carbon credits may undermine CORSIA -report
The effectiveness of the CORSIA international aviation offsetting scheme could be limited by implementation challenges such as the structural barriers in applying corresponding adjustments under Article 6 of the Paris Agreement, according to a report released over the weekend.
Largest shipping companies avoid taxes that could raise billions for climate -report
The world’s 10 largest shipping companies raised record profits of around $300 billion in the last five years, but paid less than half the average corporation tax rate, according to a new report by a non-profit, which highlights the impact a potential global levy could have on climate.
VOLUNTARY
VCM Report: Removals in focus after SBTi unveils new draft framework, fails to shift needle for demand
Durable carbon removals (CDR) dominated the headlines last week after the Science Based Target initiative (SBTi) released its long-awaited draft of version 2 of its Corporate Net-Zero Standard for public consultation.
Shell head of voluntary carbon sales joins REDD+ developer
The head of oil major Shell’s voluntary carbon offset sales team has joined a REDD+ project developer, they announced Monday.
First module released to recognise ecosystem GHG fluxes in voluntary carbon market
The first module to recognise the use of terrestrial ecosystem flux greenhouse gas measurement in the voluntary carbon market has been released by a standard body and a service provider for monitoring carbon projects.
Nature-based carbon standard recruits former Verra president to spearhead expansion
A nature-based carbon project certifier has appointed a former president of Verra to help drive its expansion after raising €5 million in funding in December.
Transparency gaps in carbon removal, forestry raise doubts over 2050 net zero targets -report
A lack of transparency in national climate strategies, particularly around the role of engineered carbon removal (CDR) and land-use, land-use change, and forestry (LULUCF), is raising doubts over the credibility of 2050 net zero targets, according to a report released over the weekend.
BRIEFING: Pressure of energy transition metals on nature is an unresolved red light -experts
The potentially detrimental impact on nature as a result of the drive for energy transition minerals and metals is an “unresolved red light” that governments are struggling to navigate, with a clear need for stricter regulatory frameworks, said industry experts at an event on Monday.
INTERNATIONAL
Emissions and economic growth finally separate, IEA says
The International Energy Agency (IEA) found a record year for power demand in 2024 even as emissions growth slowed, underlining the fact that after decades, economic and emissions growth are finally and demonstrably decoupling.
BIODIVERSITY (FREE TO READ)
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Insurance, consultancy firms release guidance for corporate nature risk assessment
The risk division of a large French-headquartered insurance company and a UK-based consultancy firm have released a report to help businesses assess their nature-related impacts and dependencies.
IUCN trials restoration metric at landscape scale with mining company
The International Union for Conservation of Nature (IUCN) is planning to pilot the use of its nature restoration metric at landscape scale in a collaboration with Australia-headquartered mining company Fortescue.
Forest restoration must prioritise biodiversity outcomes, study says
Forest restoration efforts should better consider outcomes for biodiversity, with emerging market-based mechanisms offering a promising opportunity to secure additional funding, according to a recent paper.
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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
How to build a ‘mutirao’ – The Mission 2025 coalition of civil society groups has put out a sort of blueprint for action in response to the Brazilian COP30 presidency’s call for a “global mutirao” against climate change – meaning a collective effort on a shared task. In “Our Shared Mission”, the report sets out three interconnected priorities for achieving the UN Global Stocktake’s targets – make clean, affordable energy; provide easy access to nutritious food while protecting natural systems; driving prosperity while building resilience. The levers for 2025 include strengthening national Paris Agreement climate plans, scaling up investments in nature-based solutions, and shifting demand to nature-positive economies. The report was launched with support from former UN climate chief Christiana Figueres, Brazil’s COP30 President-designate Ana Toni, and the UK’s special climate envoy, Rachel Kyte.
SAF strategy – The International Air Transport Association (IATA) established the Civil Aviation Decarbonization Organization (CADO), a nonprofit entity based in Montreal, on Monday to manage its upcoming sustainable aviation fuel (SAF) registry. CADO will operate independently from IATA and is open to stakeholders across the SAF value chain, including governments. The SAF registry aims to standardise and track SAF transactions globally, as well as help airlines and corporate customers claim environmental benefits for regulatory and voluntary compliance. Participation will be free until Apr. 2027, after which it will shift to a cost recovery model.
EMEA
US LNG’s carbon footprint – The lifecycle emissions of US LNG are typically around 48% of the coal equivalent, according to estimates by consulting firm Wood MacKenzie, published last week. “This difference is not just related to the significantly higher emissions related to the combustion of coal versus gas but also on the extremely high methane losses associated with underground mined bituminous coals from Appalachia, which is a key source for imported thermal coals in NW Europe,” the consultancy said. Recent studies have suggested that LNG emissions may actually be higher than coal due to methane losses along the value chain. But the research by Wood MacKenzie, based on proprietary data as well as credible third-party sources, found US LNG was still far less polluting on average. “We believe that it is important for the LNG industry, governments, regulators and NGOs to gather around some form of ‘common truth’ based on facts and empirical information about LNG related emissions,” said Daniel Toleman, Wood Mackenzie’s Research Director of Global LNG. This, he added, will create “an accepted baseline from which the industry can continue to progress the challenging process of decarbonisation of the overall LNG value chain.”
Don’t wanna know – Only about two-thirds of the businesses recently surveyed in the UK, France, and Germany said they think they can paint an accurate picture of their tech stack emissions, which are indirect Scope 3, according to research commissioned by Wasabi Technologies, a hot cloud storage company. In a survey of 1,200 business decision-makers, Wasabi found that while businesses agree that customers and the public expect accurate emissions reporting, half worry they will lose customers if they fully disclose their emissions data. Additionally, eight out of 10 respondents said they believed inaccurate emissions data is stifling innovation. Inaccurate sustainability data is delaying investment in new technology and making it impossible to take informed decisions, or causing a reduction in the use of technology for which data is not accurate, Wasabi said.
Liberia’s law – Liberia’s Environmental Protection Agency (EPA) held a forum earlier this month on advancing legislative actions for climate mitigation in the country, with support from the Canadian government, AllAfrica reported. The forum was designed to buildup understanding of climate science and global climate commitments among senators, as an important step towards developing Liberia’s first climate law. Sessions looked at climate science, carbon markets, climate finance, as well as “legal vacuum” around carbon trading in the country. Carbon trading remains suspended until Liberia can develop a climate change law, said one official involved in the forum.
Open a call – Ghana’s Carbon Market Office (CMO) has opened a call for internationally accredited third-party validators and verifiers to offer their services for carbon project developers in the country, it recently announced. As well, the CMO will compile, publish, and regularly update a Roster of Experts (ROE) made up of experts from which the third-party entity can appoint the national expert to participate in validation, stakeholder engagement, and verification. The applicants are required to submit their CVs before Apr. 28, 2025.
Energy bets – US hedge fund Elliott Management has taken a nearly 5% stake in RWE. This follows RWE’s announcement last week it would slash €10 bln in capital expenditure on green technologies over the next five years as the Trump administration’s opposition to offshore wind adds risk to renewables investments. The investment marks the US activist’s latest large position in a substantial European energy company following its stake-building in BP. Elliott welcomed RWE’s statement it would reduce its bet on renewables, but has critiqued the company’s apparent lack of clarity on boosting shareholder returns, saying it remains undervalued. (FT)
Nature restoration – UK-based nature restoration company Restore announced it has partnered with Triodos Bank UK on a new finance arrangement to help expand its services and grow its team. Founded in 2023, Restore has a fast-growing land portfolio of over 70,000 acres across the UK, working with farmers, landowners, and NGOs to restore nature. Triodos Bank announced last year its commitment to provide at least €500 mln in investments, loans and contributions to the nature-based solutions sector by the end of 2030. No further details about the financing were given in the press release.
Two’s company – Egypt’s Financial Regulatory Authority (FRA) on Monday announced that two new projects have been approved to register on its regulated VCM platform, AfricarbonX (Daily News Egypt). The two projects are Oman Blue Carbon from Oman and Solar DC from India. Oman Blue Carbon (VCS 5234) aims to reduce emissions by 130,723 tCO2e annually through mangroves, while Solar DC (GS 7467) for renewable energy will yield reductions of 16,692 tCO2e per year. With these additions, the FRA’s database now includes 28 voluntary carbon projects, with around 170,000 credits available for trading on the platform. Simultaneously, Jordan-based environmental consultancy Ampere was recognised as one of Egypt’s accredited international verification bodies for carbon projects. As recently as late February, FRA Chairman Mohamed Farid had stated that the AfricarbonX portal had 21 projects involving 145,000 tCO2e. Egypt’s regulated VCM launched officially in Aug. 2024 after two years under development.
New marketplace – The Tokyo Metropolitan Government will begin operating a carbon trading platform from Tuesday (Mar. 25), as it aims to help small and medium-sized enterprises access domestic and international carbon credits more easily, it said in a recent statement. The marketplace features the utilisation of blockchain technology, which allows the tokenisation of carbon credits. The government has been working with Gold Standard for the new platform.
More new partners – Japanese project developer Bywill has concluded a comprehensive collaboration agreement with the government of Fukuoka prefecture’s Chikujo town and Mitsui Sumitomo Insurance for the creation of carbon credits, it announced Monday. They aim to promote the creation and distribution of domestically-issued J-Credits by utilising forests and renewable energy resources within the region. Bywill has been working with the insurance firm to sell a special product for carbon credits, which compensates for reduced sales revenue in the event of a decrease in generation volume due to natural disasters. Bywill recently also formed a similar partnership with Ogaki Kyoritsu Bank and the government of Gifu prefecture’s Seki city.
We’re ready – China has fully completed the preparatory work for expanding the coverage of industries in the national emissions market, Lu Shize, deputy director of the environment ministry’s climate change department, told a forum over the weekend, according to a report by newspaper 21st Century Business Herald. Cement, steel, and aluminium will be officially brought into the country’s national ETS this year, with the first compliance deadline for new participants set for the end of 2025. According to Lu, the regulator will focus on three aspects: promoting the expansion in an orderly manner, reasonable control of the quota gap, and improvement of the emissions accounting system. As disclosed before, the current phase (2024-26) will see a relatively small shortfall to minimise the impact on industries.
Fiji’s flying future – Fiji is exploring sustainable aviation fuel (SAF) as part of its efforts to cut emissions from the sector, said Ministry of Civil Aviation permanent secretary Salaseini Daunbuna. In comments at the third Regional Aviation Ministers Meeting last week, she added that Fiji supports CORSIA and is committed to reducing aviation emissions, while stressing the need for regional air connectivity among the Pacific island nations, and beyond. At the meeting’s close, ministers adopted a declaration to advance sustainable aviation, including SAF, reduce emissions, and minimise the sector’s environmental impact.
Green apple – Tech giant Apple launched the second phase of its China Clean Energy Fund, committing up to RMB 720 mln ($99 mln) to expand renewable energy capacity in its supply chain, the company said in a press release on its Chinese website on Monday. Managed by Schroders, the fund aims to add 550,000 MWh of wind and solar power to China’s grid annually. It builds on Apple’s first China Clean Energy Fund, which the company said has delivered over 1 GW of new projects since 2018. Around two-thirds of its production in China already runs on renewable energy, Apple added.
Dirty business – ASX-listed RLF AgTech has reported positive early results from its Hilston Soil Carbon Project in New South Wales, it announced. The Australian company told the market that following the application of its Accumulating Carbon in Soil System products to a single crop, the project has delivered measurable improvements to soil organic carbon, reduction in GHG emissions, and improvements in fertiliser efficiency. The project was first registered in 2023 and has yet to be issued any Australian Carbon Credit Units (ACCUs).
AMERICAS
Subsidy standoff – A group of US energy executives and investors has called for a full repeal of the Inflation Reduction Act’s (IRA) energy subsidies, arguing that all such subsidies — regardless of the sector they support — distort markets and raise costs for consumers. In a letter to congressional leaders, the signatories, representing oil, gas, and energy services companies, criticised ongoing lobbying efforts across the energy sector to retain specific subsidies, including those for wind, solar, biofuels, and carbon capture. They warned that the subsidies promote inefficient investments, threaten grid reliability, increase national debt, and misallocate trillions in capital. The group, coordinated in part by the Energy Freedom Fund, a pro-fossil-fuel advocacy group, urged Congress to eliminate the subsidies during upcoming budget discussions and to resist pressure from industry groups and special interests.
Energy eh-xport – A group of Canadian oil and gas industry executives issued an open letter on Mar. 18 to the heads of federal political parties calling for a reset of national energy policy to support expanded oil and natural gas production and infrastructure. The letter argues that growing Canada’s energy exports will strengthen economic sovereignty, reduce global energy poverty, and support emissions reductions by displacing coal. The signatories urge the federal government to simplify regulations, set firm timelines for project approvals, repeal the unlegislated emissions cap and federal carbon tax, and provide Indigenous loan guarantees. They also call for the declaration of a national energy crisis to enable the use of emergency powers to accelerate development.
Fight for files – The Environmental Defense Fund (EDF), a US-based environmental advocacy group, filed a second lawsuit on Monday to obtain records from the Department of the Interior, the National Oceanic and Atmospheric Administration (NOAA), and the White House Council on Environmental Quality (CEQ) regarding the Trump administration’s efforts to reverse the US EPA’s Endangerment Finding. Filed in the US District Court for the District of Columbia, the suit follows unanswered Freedom of Information Act (FOIA) requests and a similar action EDF previously brought against the EPA.
Concrete jungle tomato – The New York City Comptroller published the annual climate reports of three of the city’s pensions on Monday – the New York City Employees Retirement System (NYCERS) with $89 bln AUM, the Board of Education Retirement System (BERS) with $9.2 bln AUM, and Teachers’ Retirement System (TRS) at $109 bln AUM. All three funds have a Board-mandated goal of net zero portfolio GHGs by 2040. In 2024, each fund reduced its Scopes 1 and financed emissions intensity by 34%, 28%, and 39% respectively, each surpassing their 2025 interim targets.
Don’t axe this tax – A New Hampshire bill that proposed to tax trees used to generate voluntary carbon credits is currently in the Senate Energy and Natural Resources Committee according to legislative filings, after passing the state’s House by a vote of 197 to 158 earlier in March. House Bill 123 (HB 123) aims to compensate for revenue losses experienced by municipalities due to reduced timber harvesting, which has resulted from landowners opting to preserve forests for carbon credits rather than cutting trees. New Hampshire traditionally imposes a 10% yield tax on timber at the time of harvest. However, with the rise of offset programmes, landowners are earning money by keeping trees standing, reducing timber harvesting and, consequently, timber tax revenue. HB 123 seeks to amend the state’s timber tax law (RSA 79:3) to include taxation of standing timber on land involved in carbon sequestration initiatives.
Clean energy climb – The Calgary Region Hydrogen Hub (CRH2) launched on Monday as a collaboration between Calgary Economic Development, the Transition Accelerator, Wheatland County, and other partners, with over C$3 mln ($2 mln) in funding from local and federal sources. The initiative aims to position Calgary as a leader in the global hydrogen economy by aggregating demand, supporting deployment, and facilitating collaboration across industries. It will focus on applications such as airports, industrial fleets, and hydrogen corridors, with a goal of generating up to C$75 mln in private-sector investment. The Government of Canada also announced on Monday more than C$8.3 mln in funding through PrairiesCan for 13 clean technology projects in Alberta, including C$1.5 mln that aims to support CRH2 and a hydrogen study in Grande Prairie.
Aqua advances – MayMaan, a clean energy technology company based in Miami, has developed AquaStroke, an engine that runs on a 70% water and 30% ethanol fuel mix as an alternative to diesel engines and electric batteries. The company claims its technology improves fuel efficiency and reduces CO2 emissions, with applications in data centres, EV charging infrastructure, and off-grid power systems. MayMaan is pursuing licensing agreements with manufacturers and distributors to scale its solution globally.
Power partners – Next Hydrogen Solutions, a Canadian company focused on designing and manufacturing water electrolysers for green hydrogen production, has signed a strategic cooperation agreement with Sungrow Hydrogen, a subsidiary of Chinese energy firm Sungrow, to scale and commercialise its technology. Under the deal, Next Hydrogen will utilise Sungrow’s 3GW manufacturing facility, aiming to fulfil large-volume orders starting in 2026. The partnership includes collaboration on co-developing and cross-selling hydrogen solutions for sectors such as ammonia, aviation fuels, refining, steel, and transportation.
Hearing bad news – Colombia’s House of Representatives on Friday hosted a public hearing on the regulation and implementation REDD+ projects in the country, receiving ample negative feedback from local communities, as per a bulletin published by the chamber. Indigenous, rural, and academic representatives participated in the hearing, denouncing imposition of unfair contracts, disregard for free, prior, and informed consent (FPIC) protocols, land speculation, and interference by “external actors” in the carbon market. Participants reportedly asked for clear regulations, protection of territorial rights, and FPIC guarantees.
INVESTMENT
Climate fund – UK-based climate investor Elbow Beach has launched its second investment vehicle, the £80 mln Climate Impact Fund 2, aimed at supporting emerging technologies addressing environmental and industrial challenges. Some £63 mln has already been committed, including a contribution of up to £50 mln from the British Business Bank. The fund seeks to deploy £40 mln immediately into up to 36 early-stage startups over four years. Investments will focus on areas such as automation, AI, electrification, carbon capture, and low-carbon materials. Elbow Beach previously raised a £20 mln fund that supported startups including Munro Vehicles, a Scottish maker of EVs, Anaphite, a company improving energy efficiency in EV battery production, and WASE, which transforms wastewater into energy.
Americas foothold – Real estate and investment management firm JLL announced on Monday its acquisition of Javelin Capital, a boutique investment banking firm specialising in renewable energy, to expand its US energy and infrastructure capital markets capabilities amid accelerating clean energy sector growth. The deal enhances JLL’s global capital advisory services by integrating Javelin’s North American experience in capital raising, M&A, and project finance across the renewable energy, energy storage, and green chemistry sectors.
SCIENCE & TECH
Solar surge – Solar power is being deployed 100 times faster than nuclear, with annual solar PV installations reaching almost 600 GW and estimated to hit 1,000 GW yearly by 2030, according to analysis by Climate Energy Finance (CEF). Falling costs, soaring manufacturing capacity, and record deployments will “dramatically reshape our energy landscape”, the report said. Accelerated deployments with BESS is increasing the competitiveness of solar PV, the report said, and also defers the need for more grid capacity by better using what is available. CEF found that China installed 277 GW in 2024, more than five times the US. Moves by the US to freeze clean tech manufacturing funding plus the imposition of tariffs on Chinese imports will cause investors to look elsewhere to deploy capital, the report said. “The US now risks cementing its trailing position in the energy transition way behind China,” CEF added.
AND FINALLY…
Tense relations – Azerbaijan’s Ministry of Foreign Affairs (MFA) has issued a strong rebuke to Armenian Minister of Foreign Affairs Ararat Mirzoyan in response to the latter’s interview with Brazilian newspaper Folha, according to Azerbaijani state news (Azertag). Mirzoyan stated that previous UN ‘COP’ climate conferences have failed to attend to the needs of the Global South. Responding that it is “obvious” that the Armenian minister has “no understanding whatsoever of the essence of climate negotiations within the COP framework”, the MFA went on to say that Mirzoyan’s statements are “not only a sign of disrespect toward COP29 [which Baku hosted], but also toward the organizers of all previous COP conferences”. The two countries are currently in the process of negotiating a peace treaty, which was finalised in principle on Mar. 13 but has yet to be fully agreed. The post-Soviet nations have been in conflict since the late 1980s, causing mass displacement of both ethnic Azeris and Armenians.
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