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NACW

California ETS extension priorities differ, depending on who you ask

The extension of California-Quebec’s joint carbon market beyond the end of the decade has become politically charged, and holds varying priorities for regulators and experts, conference attendees heard on Wednesday.

California’s low-carbon policymakers keep their heads down

There is a time and place for protests and pickets, but the California regulator is currently keeping its head down and getting on with the job, said one of its officers at a conference on Wednesday.

Offset developers must find new cashflows to replace federal funding -experts

US developers must consider emerging alternatives to monetise smaller carbon credit projects to get ahead of an expected loss of federal support, panellists at the Climate Action Reserve’s North American Carbon World (NACW) conference said on Wednesday.

Experts grapple with role for US subnationals, corporates at COP30

The US withdrawal from the Paris Agreement opens a strategic opportunity for American businesses and states to advocate for carbon markets and climate finance at COP30, but experts described a murky path forward on Wednesday.

RGGI states intend to complete programme review in 2025

States participating in the Northeast and Mid-Atlantic power sector cap-and-trade scheme RGGI intend to complete the ongoing Third Program Review by the end of 2025, North American Carbon World participants heard Wednesday.

Mexico to operationalise national ETS by end of year

Mexico will finally operationalise its emissions trading system (ETS) by the end of the year and include offsets, an expert told attendees of North American Carbon World on Wednesday.

Mexican forest carbon credit supply bottlenecked by market infrastructure

The burgeoning supply of Mexican forest carbon credits hasn’t been able to keep up with demand, voluntary carbon market players told conference attendees, as they pointed to challenges with verification and existing methodologies.

Outlook for North American clean fuels programmes mired in uncertainties

Credit prices across North American clean fuels programmes are expected to fluctuate amid persisting regulatory and political uncertainties, North American Carbon World (NACW) participants heard this week.

ASIA PACIFIC

BRIEFING: China lays out plan for ETS expansion, adds three sectors to national emissions market

China has finalised a work plan to officially incorporate steel, aluminium, and cement production into the national CO2 emissions trading system.

Australia, Singapore allot $13 mln for eight low-emissions maritime projects

Australia and Singapore announced Wednesday a A$20-million ($12.6 mln) initiative to reduce maritime sector emissions by selecting eight projects for funding to boost green shipping technologies.

MOL secures ocean carbon removal credits from US startup

Japanese shipping giant Mitsui OSK Lines (MOL) has secured carbon removal credits from a California-based startup developing direct ocean capture (DOC) technology, a move to support its 2050 net zero target and diversify its project portfolio.

New Zealand looks to put exotic forestry ETS restrictions in place by October

The New Zealand Forest Service has released more details on exotic forestry restrictions in the emissions trading scheme (ETS), which are expected to come into force by October.

NZ Market: NZU price whipsaws amid thin liquidity

The spot price for New Zealand carbon allowances recovered Wednesday after a major sell-off earlier in the week had sent the price to a 6-month low.

New Forests partners with Japanese papermaker to build new forestry fund

Global forestry investment manager New Forests has partnered with one of Japan’s largest paper and pulp producers to establish a fund dedicated to forest investments.

Proposed bill to ban climate tort claims in NZ slammed

A draft bill to prohibit civil claims arising from or related to climate change issues in New Zealand has been criticised by climate groups.

Australian coal mine extension knocked back by court for failing to show proof it will cut emissions

A Queensland court has recommended against the expansion of an existing thermal coal mine based on the lack of the evidence by its operators that they plan to actively mitigate emissions.

Australian coal production way up, but mine emissions flat -report

Australian coal mine methane emissions have barely budged in decades despite a vast ramp up in coal production but the devil is in the details, which show this may not indicate an absolute drop in emissions intensity, a think tank warned Thursday.

Australian environmental groups blast legislation carve-out for Tasmanian salmon industry

Australia’s Labor government has faced sharp criticism for a new bill introduced to parliament to protect Tasmania’s salmon farming industry at what environmental groups say will lead to the extinction of a rare and endangered ray, and the ability to challenge prior approvals.

Thai bourse to open markets for carbon credit tokens

Thailand’s Securities and Exchange Commission (SEC) this week approved guidelines to permit digital asset exchanges, brokers, and traders to provide tokenised versions of carbon credits, renewable energy certificates (RECs), and emissions allowances.

VOLUNTARY

ICVCM “overly conservative” on CCP requirements for cookstoves, warn carbon project developers

The tough stance adopted by the Integrity Council for the Voluntary Carbon Markets (ICVCM) on cookstove methodologies is “overly conservative” in part, warns a lobby group for project developers.

SBTi opens can of worms with various options for CDR usage, say experts

The SBTi may have heightened confusion in the carbon removal (CDR) sector following the release of a draft update to its flagship corporate climate standard, which will pit the practicalities of company decision-making against the nascent industry’s struggle to scale, experts told a webinar on Wednesday.

AMERICAS

New York releases GHG reporting rules for public comment

The state announced on Wednesday draft regulations mandating reporting of GHGs, which would be a forerunner to New York’s Cap-and-Invest programme, known as NYCI.

ARB offset issuances slow down in latest two-week cycle with no new DEBs-tagged units

The number of compliance-eligible offsets issued by the California ARB over the last two weeks dropped precipitously compared to the previous timeframe, as no newly-distributed units were marked with direct environmental benefits to the state (DEBs), data published by the state regulator on Wednesday showed.

US state forest service launches forest resiliency fund

A US state forest service is launching a programme to help landowners make their forests more resilient and support practices for improving carbon management.

Argentina sees first South American biogas project achieve CAR listing

An Argentine project has this month been listed with the Climate Action Reserve (CAR) registry, according to government reports on Tuesday.

US carbon marketplace startup joins $176 mln fund for sustainable cocoa farming in Brazil

A US-based carbon marketplace startup announced Wednesday it is joining a new $176 million initiative that aims to transform smallholder cocoa farming in Brazil by promoting sustainable practices and facilitating access to carbon markets.

Brazilian Cerrado regeneration hinges on technical capacity and coordinated action -report

A new report has outlined a pathway for scaling regenerative agriculture in Brazil’s Cerrado region, but technical and financial capacity gaps pose significant hurdles to widespread adoption.

EMEA

INTERVIEW: Galicia to pass carbon market bill by mid-April

The autonomous region of Galicia in Spain will soon pass carbon markets legislation that aims to draw investment into local communities while encouraging finance flows from within and outside the region, a top environment official told Carbon Pulse.

EU confirms plan to cast CO2 removal certification methodologies into law this year, despite heated debate on biomass

The European Commission on Wednesday confirmed its intention to put forward draft legislation this year to certify permanent carbon removals from direct air capture with carbon storage (DACCS), bioenergy with carbon capture and storage (BECCS), and biochar.

EU issues draft rules for verification of aviation emissions data

The European Commission has published draft rules for the verification of emissions data submitted by airlines under the EU’s Emissions Trading Scheme (EU ETS) as well as for the accreditation of verifiers to perform the checks, including on green jet fuels.

German coalition plans show support for Article 6 to help industrials meet EU ETS obligations

A leaked document from a working group that will shape the energy and climate policies of the new German coalition government has indicated support for using Article 6 carbon credits under the Paris Agreement to help industries address their residual emissions.

Euro Markets: EUAs spring higher after options expiry as data show funds revert to building length

European carbon prices hugged a key price level for much of Wednesday morning before rallying steeply after the expiration of the March options contract and shrugging off data showing that investment funds had increased their bullish positioning for the first time in six weeks.

Shell cuts carbon credit use in 2024 amid lower fuel sales, rising renewables

Shell reduced the volume of carbon credits it retired in 2024, as a drop in transport fuel sales and increased renewable electricity transactions helped the company progress toward its net zero targets, the energy major said in its annual report.

Ethiopia reforestation carbon project aims to sell credits for at least $50/t

A reforestation and restoration project in Ethiopia is aiming to sell its credits for a minimum of $50 per tonne to align with market values under Verra’s new VM0047 methodology, the developer told Carbon Pulse.

UK carbon developer to distribute 250k improved cookstoves in Sierra Leone

A UK-based carbon project developer is preparing the expansion of a cookstove project in Sierra Leone, with fuel-efficient equipment to be distributed to a further quarter of a million households, it announced this week.

German court bans airline from making “misleading” carbon offsetting claims

A regional court in Germany has barred an airline from using two marketing statements it deemed misleading in relation to CO2 offsetting, following a legal challenge from an environmental non-profit.

BIODIVERSITY (FREE TO READ)

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UK standards body revamps nature market principles

The UK national standards body has released a revamped version of its overarching principles for nature credits, calling on companies to engage in the market to address the ongoing environmental crisis.

INTERVIEW: Developer gears up to expand biodiversity credit project pipeline in Europe

A conservation organisation is preparing to expand its portfolio of biodiversity credit projects in Europe, as moving beyond just carbon could help it increase revenues and better support landowners implementing nature protection and restoration activities, its founder told Carbon Pulse.

Nature restoration plans present opportunity to revive EU seas -report

The European Union’s ambitious Nature Restoration Law (NRL) has the potential to reverse decades of marine biodiversity loss, but a WWF report released Wednesday warned that without proper enforcement, it risks becoming another case of “paper parks” without effective conservation measures.

Academics propose set of rules for nature markets

Five recommended key rules for nature markets to achieve their environmental aims while delivering scientifically credible outcomes have been put forward in a pre-print by academics, with the most important being additionality.

COMMENT

Legal view on why the proposed UK Planning Bill will slow development and harm nature

The UK Parliament is considering a Planning and Infrastructure Bill this week. While intended to streamline planning, Part III of the bill will dampen biodiversity investment and inflict harm on nature, writes Alexa Culver in a comment that breaks down the fine print of the legislation.

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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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ADVERTISE WITH US

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

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BITE-SIZED UPDATES FROM AROUND THE WORLD

INTERNATIONAL

It’s time to tax shipping – Kenya’s Special Envoy for Climate Change Ambassador Ali Mohamed has proposed a carbon tax on the global shipping industry. Kenya is a frontline casualty of climate crisis facing extreme temperatures leading to droughts, which has resulted in declining food production, thereby destabilising the economy, Mohamed wrote for Climate Home News. “A proposed carbon levy on the shipping industry offers a transformative opportunity, one Kenya urgently supports, to deliver climate finance where it’s most needed while decarbonising a critical global sector,” he wrote. Shipping accounts for 3% of the total global GHG emissions. According to the World Bank estimates, a universal tax on international shipping, if enacted, could raise $60 billion annually, channelling much-needed funds into climate adaptation and mitigation for vulnerable nations such as Kenya. Meanwhile, at the UN International Maritime Organisation (IMO), governments are nearing an agreement on carbon levy on shipping emissions, with a decision slated for Apr. 2025.

EMEA

Defence vs. climate – UN climate boss Simon Stiell has urged Europe to step up efforts to tackle global warming under its defence spending drive, as concerns mount the bloc is sidelining green action while rushing to revitalise its armed forces in the face of US President Donald Trump’s threats to leave Nato. Stiell warned that Europe’s borders were vulnerable to an influx of climate refugees during a speech on Wednesday at the Europe 2025 conference. This is Europe’s moment to show climate leadership, even if “one government steps back”, he said, without explicitly referring to the US. Stiell said climate change could cut the EU’s combined GDP by 1% within the next few years and 2.3% by mid-century, creating what he called a “recipe for a permanent recession”. (FT)

Wind farm FID – Vattenfall has made a final investment decision for two wind farms — Nordlicht 1 and 2 — in the German North Sea, the first of which is expected to become Germany’s biggest offshore wind farm. The Swedish utility has agreed to buy back the 49% stake in the Nordlicht cluster sold to BASF last year, while the German chemicals group will receive access to long-term supply of renewable electricity. Construction of both projects is expected to start in 2026 and they’re expected operational in 2028. Together, the two wind farms will have total capacity of 1.6 GW and will be able to produce around 6 TWh of electricity per year, equivalent to the electricity consumption of 1.6 mln German households. (Reuters)

Oil and gas license opposition – In a two-day hearing starting Wednesday, Oceana UK will take aim at the decision to award licences for 31 oil and gas projects within Marine Protected Areas under the 33^rd licensing round. These licenses collectively allow companies to explore oil and gas extraction in UK waters across an area around half the size of Wales. The non-profit will argue that in approving the licences, the government and the North Sea Transition Authority (NSTA) failed to properly heed advice of the Joint Nature Conservation Committee and Natural England, which recommended that more detailed assessments be drawn up on the potential impacts of the projects on marine environments. It will also argue the two failed to consider the full climate impact of the licensed activity, including emissions resulting from combusting the extracted oil and gas. The 31 projects could pave the way for the extraction of 600 mln barrels of oil equivalent, the NSTA estimates. Following the hearing, the judge will have three months maximum to hand down the ruling. (edie.net)

Career update – The European Commission has decided today to appoint Valérie Drezet-Humez as Director for General Affairs, Knowledge and Resources at the Directorate-General for Environment (DG ENV). Drezet-Humez has contributed to a wide range of areas within the Commission, from overseeing the implementation and revision of the Eco-Management and Audit Scheme (EMAS) to Policy Assistant to Directors-General and Head of the Commission Representation in France. A French national, she is currently Principal adviser for synergies and efficiencies at the Secretariat-General of the European Commission.

Saudi agroforestry – Saudi Arabia’s National Center for Vegetation Cover Development and Combating Desertification (NCVC) has launched the Agroforestry Action Plan Development Project (Saudi Press Agency). The project will assess the current state of agroforestry in the Middle Eastern country, focus on applying global best practices, and encourage investment to ensure sustainable forest management. As part of the project, NCVC will also activate its Dec. 2024 MoU with global research consortium the Center for International Forestry Research and World Agroforestry, to boost research collaboration and apply advanced agroforestry techniques. The initiative is part of NCVC’s broader mission to restore lands, combat desertification, and reduce carbon emissions, among other aims. NCVC includes an initiative to plant 60 mln trees (300,000 hectares) by 2030.

ASIA PACIFIC

Making the cut – A contribution from the US to the Pacific Resilience Facility (PRF), a regional climate-related fund, has survived broader cuts to international aid by the Trump administration. The $5.8 mln commitment was initially suspended but has been lifted, Baron Waqa, secretary-general of the Pacific Islands Forum (PIF), told ABC Radio Australia last week. “US policy on climate change is obvious,” he said, but added that the PIF will continue to engage with the US on climate policy if it is willing to cooperate. The PRF is aiming to raise $500 mln over 2025 and 2026, and earlier this month received its first contribution, from Japan.

Global CCS pipeline growing – Melbourne-headquartered Global CCS Institute Wednesday updated its global carbon capture and storage pipeline figures during a webinar examining the findings of its 2024 Global Status of CCS report. CEO Jarad Daniels said the pipeline, including operational projects and those in development, climbed to just shy of 715 projects by the end of Feb. 2025. That’s up about 14% from the 628 projects in the Oct. 2024 report. The report said the pipeline had grown 60% to 628 projects, up from 392 projects in 2023. The Institute did not respond to a request for comment before press time.

Solar spend – Meridian Energy will be proceeding with a NZ$227 mln ($130.4 mln) solar power development in Ruakaka, New Zealand, its board decided this week. The 120 MW development – the company’s first solar investment in the country – will be situated alongside its 100 MW battery energy storage system (BESS), which will begin operations in April. The investment forms part of Meridian’s planned NZ$3 bln capital deployment in renewables in New Zealand by 2030, including NZ$1 bln to be committed this year. An investment decision on the first 200 MW of the Te Rahui solar project – being developed with Nova – is expected in April, while the investment decision for the 170 MW Te Rere Hau wind farm is expected in June. The firm’s total development pipeline out to 2033 comes to 5.8 GW, including 3.8 GW of solar power.

Getting clean – Indonesia’s energy sector cut carbon emissions by 147.61 mln tonnes in 2024, exceeding the annual target of 142 mln tonnes, the Energy and Mineral Resources Ministry said on Tuesday, according to news agency Antara. Emission reductions were driven by energy efficiency, low-carbon fuels, renewable energy, and new technologies. The government aims to cut 358 mln tonnes of CO2 by 2030 and is advancing electrification, renewable energy expansion, and coal plant phase-outs, Director of Various New and Renewable Energy at the ministry Andriah Feby Misna said. Indonesia’s Enhanced Nationally Determined Contribution (E-NDC) targets a 32% emissions reduction by 2030, up from 29% previously.

Someone’s trash is… – Pakistan has allocated Rupees 5 bln ($18 mln) to transform Lahore’s Mehmood Booti landfill into a carbon credit project, aiming to cut methane emissions and generate revenue. The 43-acre site, holding 13 mln tonnes of waste since 1997, will be rehabilitated to capture methane and convert it into energy, reducing carbon output by 1 mln tonnes over 15 years. The project is expected to yield 100,000 carbon credits yearly, Ravi Urban Development Authority’s director of environment Ahad Yousaf Khan said. RUDA also plans to repurpose the site into an urban forest and solar park.

Japan-Brazil partnership – The environment ministries of Japan and Brazil have signed a Memorandum of Cooperation to strengthen their collaboration on climate change. The two sides will discuss a wide range of mitigation and adaptation measures, including the development of carbon markets.

Greener product – Japan’s Chubu Electric Power has begun selling a natural gas product using domestically issued carbon offsets to corporate clients, including Daido Steel, according to a recent company statement. The product utilises J-Credits to offset the CO2 emissions generated by the combustion of natural gas supplied by the power company, the statement said.

Lighting SE Asia – Singapore-based Pentagreen Capital and UK’s British International Investment (BII) have announced a joint financing of $80 mln to accelerate the rollout of utility-scale solar and battery storage projects across Southeast Asia. The joint facility will initially unlock the implementation of around $300 mln-worth of projects and the first project to be supported will be a solar power project in the Philippines. The initial projects will add a combined 400 gigawatt hours (GWh) of clean electricity supply annually, resulting in an estimated 257,000 tCO2e emissions avoided, according to the statement.

AMERICAS

A ‘thoughtful’ phaseout – House Republicans are showing signs of shifting their approach to clean energy tax credits in the upcoming reconciliation bill. While some conservatives have called for a full repeal of the Inflation Reduction Act’s (IRA) energy incentives, House Budget Chair Jodey Arrington has suggested a more measured approach — potentially phasing out the credits sooner rather than eliminating them outright. This reflects growing awareness of the economic impact and political sensitivity surrounding the incentives, especially as many Republicans represent districts benefiting from clean energy investments. Internal party divisions are becoming clearer, with nearly two dozen Republican lawmakers publicly backing the preservation of the credits. Meanwhile, party leaders continue searching for savings to fund other priorities, such as making the 2017 tax cuts permanent. Climate-related funding, including grant programmes and the Greenhouse Gas Reduction Fund, remains under review, but some funds have already been allocated, limiting how much can be clawed back. There’s also debate over relying on increased drilling and mining to generate revenue. Lobbyists and business groups, including the Chamber of Commerce and clean power advocates, are actively urging lawmakers to maintain the credits, highlighting their role in job creation and investment — particularly in Republican-led states. While some modifications, such as tightening eligibility or shortening timelines, may be on the table, it remains unclear whether such changes would satisfy lawmakers seeking to protect the credits from disruption. With the House majority razor-thin and reconciliation talks ongoing, the final outcome may hinge on finding a compromise that balances fiscal goals with political realities. (E&E News)

No Moe CO2 levy – Saskatchewan’s premier Scott Moe has announced the province is ditching its carbon price on industrial and power emissions. In a post on X, Moe said that the prairie province is the first carbon tax-free jurisdiction in Canada. “Now that the two federal parties and their leaders have announced their plans for removing the carbon tax – Saskatchewan is taking the next step by reducing the industrial carbon tax rate charge to zero,” Moe said. He called on the leaders of the two major parties, newly-appointed Prime Minister Mark Carney of the Liberals and the Conservatives Pierre Poilievre, to allow “provinces to regulate in this area without imposing the federal backstop” ahead of the country’s federal election on Apr. 28. Since 2019, the province has run an intensity-based pricing programme for large emitters mirroring the federal OBPS pricing programme and which raised C$23.9 mln ($16.7 mln) in 2023 alone. Moe’s move follows the province’s legislature passing a bill in December to keep federal carbon pricing off home heating bills – a fee which Carney scrapped in his first day as PM.

Aoxoa-Moxa – The US Bureau of Land Management has approved a carbon storage exploration project in southern Wyoming, granting Moxa Carbon Storage access to explore underground federal lands for potential long-term carbon dioxide storage. This is the first time the federal government has authorised access to federal pore space through CO2 injection wells. While the decision does not permit surface land use, that could be considered separately in the future. The project will still require a state permit to inject CO2, which must be obtained from Wyoming’s Department of Environmental Quality.

Tax credit tussle – The future of climate-smart agriculture guidance issued under the former Biden administration remains uncertain, as the Trump administration has not clarified whether it will integrate the guidelines into clean fuel policies. The guidance, developed by the US Department of Agriculture, was intended to support low-carbon biofuel production and align with a clean energy tax credit that began on Jan. 1. Biofuel producers, farm groups, and other stakeholders submitted comments on the proposed guidelines by the Mar. 18 deadline, advocating for their continued use. (E&E News)

Second thoughts – House Budget Chair Jodey Arrington appears to be “softening” on his push to axe clean energy tax credits, reported E&E News. The news outlet wrote the Texas Republican has suggested the GOP phase out Inflation Reduction Act incentives to “mitigate more severe economic consequences” — a departure from a previous push to eliminate the credits.

Indiana CO2 bill – An Indiana bill altering the permitting process for CO2 pipelines and sequestration wells has passed the state’s House of Representatives, after passing its Senate last month. Bill author and State Sen. Sue Glick said in a release the bill protects the state’s natural resources and addresses concerns brought forward by industry. SB 457 passed 55 to 37 and now moves to the governor’s desk for further consideration.

CDR roundup – The Treasury Board of Canada Secretariat (TBS) is seeking feedback on its proposed approach to procuring CO2 removal (CDR) services, with a focus on a pilot phase involving small purchases from a broad range of suppliers. The request for information (RFI) invites input from both industry and other stakeholders, covering all aspects of the proposal, including mandatory requirements and CDR supply streams. TBS emphasised interest in identifying any elements that could hinder participation by CDR providers. Responses will remain confidential and be used to refine the procurement strategy. The deadline for submissions has been extended to Apr. 25.

Para problems – Some of Brazil’s largest project developers will not participate in the country’s first deforested forest concession in Triunfo do Xingu Recovery Unit in the state of Para, scheduled to take place Friday, reported Folha de Sao Paulo. Of the large developers heard by Folha, only Systemica, linked to BTG Pactual, and BR Carbon completed the paperwork required to take part, while Mombak, Carbonext, Ambipar, Future Climate, Biofix, and Wildlife Works will not participate after missing the deadline. The withdrawal of the companies involved in the carbon credit sector disappointed Para authorities because several developers have participated in roadshows and public consultations in recent months. Para estimated that the winner of the bid will need to disburse R$76 mln ($13.3 mln) for the first seven years of the project until credit revenues are expected to come available in 2032. Folha reported the operational difficulties of the project were the main factor in the companies’ withdrawal, as well as a perceived lack of flexibility of the Para government, these executives argue that developers today do not have the expertise to deal with a location as isolated and with conflicts with land grabbers, such as in the concession area.

VOLUNTARY

Portuguese partner plans – Building of the agreement announced last week between the Brazilian state of Rondonia and Portuguese technology organisation Centre for Engineering and Product Development (CEiiA) for carbon stock mapping and development of a methodology, Portugal’s Northern Regional Coordination and Development Commission (CCDR Norte) – which is also taking part in the project – announced later last week that methodology would also be piloted in northern parts of the country. Specifically, it would be tested in Peneda-Geres Natural Park, the Douro wine region, and Terras Quentes de Tras-os-Montes, representing different types of territory, including those where low incomes have led to population loss. CCDR Norte said it envisions an investment of € 1.5 mln over the next three years for implementation of the project. By allowing the methodology to be tested, the objective is to develop a certification system that allows the remuneration of landowners and rural producers for the conservation of carbon stored in forests and soils. The project will be presented in fully at COP30 in Brazil in November.

New Karbon-X partnership – Canada-based carbon offset developer, Karbon-X, has announced a partnership with Zodiac Gold Inc., a West African gold exploration company, to support the company in measuring, managing, and offsetting its carbon footprint. Karbon-X said in a release it would help Zodiac Gold’s emissions pursue its district-scale gold exploration Todi Project near Monrovia, Liberia by quantifying its emissions and offering carbon offsets.

Greener banking – Dutch bank ING has announced that the Science Based Targets initiative (SBTi) has validated its climate targets to reduce GHG emissions in its own operations and its client portfolio. In its client portfolio, the SBTi validated the fossil fuel, power generation, cement, steel, automotive, aviation, and commercial real estate sector targets. These targets include that ING will not finance any new thermal coal-fired power plants or thermal coal mines, that it will avoid engaging with new clients whose total power generation capacity is more than 5% reliant on operating coal plants, and that it will reduce its exposure to upstream oil and gas 35% by 2030. Read more details about ING’s targets here.

ALM aim – Verra has updated its guidance for the calibration, validation, and verification of empirical or process-based models used to estimate soil organic carbon stock changes (VMD0053, v.2.1), to expand its applicability to all agricultural land management methodologies in the VCS programme – including its new rice system methodology. The standard is also considering applying the updated guidance in its revision to its methodology for the adoption of sustainable grasslands through adjustment of fire and grazing (VM0032).

INVESTMENT

Low-carbon iron funding – Low-carbon iron producer Gravithy announced a €60 mln funding round, including public funds from the French programme ‘Premiere Usine’, in a press release Wednesday. The round included investors such as Ecolab, Japan Hydrogen Fund, Rio Tinto, and Siemens Financial Services. Plus extra investment from existing shareholders Engie New Ventures and InnoEnergy. The fresh capital will allow Gravithy to finance its action plan, targeting a financial investment decision following project development in 2026. The future plant is expected to start commercial production in 2028, and to produce 2 mln tonnes of direct reduced iron / hot briquetted iron every year. The electrolyser producing the green hydrogen used to reduce the iron ore will have a capacity of around 750 MW. The startup has signed a letter of intent with EDF to supply nuclear power to supply the plant.

SCIENCE & TECH

Climate-friendly concrete – Researchers at Northwestern University, based in Illinois, have developed carbon-negative concrete, according to a recently published study. The researchers demonstrated that electrochemical seawater splitting — a process previously used for hydrogen production and CO2 sequestration — can also yield valuable mineral byproducts suitable for construction and environmental remediation. In experiments combining electricity and CO2 injection into artificial seawater, the process generated calcium carbonate and magnesium hydroxide, trapping CO2 in solid form while forming aggregates with properties suitable for concrete and industrial use.

AND FINALLY…

Reeled in, cut loose – Federal budget cuts under President Donald Trump’s Department of Government Efficiency (DOGE) have left commercial fishermen and seafood processors across the US without access to key funding for decarbonisation projects, the AP reported. Many grants from the US Department of Agriculture (USDA) and the EPA have been frozen or rescinded, creating financial uncertainty for businesses in Alaska, Washington, and Maine. Fishermen who had signed grant agreements say they were depending on tens of thousands of dollars to complete projects aimed at lowering carbon emissions, but are now struggling to cover costs or facing potential shutdowns. The USDA has indicated that some updates may come in April, but affected business owners say the delay and confusion have already caused setbacks. The funding disruptions are part of broader cost-cutting measures that have also affected other federal programmes.

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