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ECS25
Germany wants all international VCM activities registered under Article 6.4
The German government is striving to have “all international market activities” of the voluntary carbon market registered under Article 6.4 of the Paris Agreement to ensure transparency and quality in the global carbon market, an official told IETA’s European Climate Summit on Tuesday.
NACW25
US “carbon refugees” may seek Article 6 authorisation elsewhere, say experts
The expected US exit from the Paris Agreement may see American project developers get creative with carbon project development pathways, including securing authorisation for Article 6 activities from jurisdictions outside of the country, panellists told North American Carbon World (NACW).
Panama details national carbon market roadmap
An official of Panama’s Ministry of Environment has detailed the country’s steps towards establishing a national carbon market, also anticipating its eventual transition from a voluntary structure to mandatory offsetting.
EMEA
EU Parliament to fast-track vote on green reporting simplification this week
The European Parliament voted on Tuesday to fast-track their decision to “stop the clock” on two EU corporate sustainability reporting directives, and will decide on Thursday whether to delay their application to large companies.
Current pace of EU renewables projects is insufficient -EU Court of Auditors
The EU should urgently ramp up investment in electricity grids, or risk derailing its clean energy transition, the European Court of Auditors (ECA) has warned.
EU opens up applications for CBAM importers
The European Commission on Monday launched the application process for companies seeking to become authorised Carbon Border Adjustment Mechanism (CBAM) declarants.
Right-wing attempt to block EU funding for climate NGOs collapses
A right-wing attempt to curtail funding for environmental NGOs in the European Union collapsed on Monday evening, in a vote before the European Parliament’s environment committee.
Flagship CCS project in Belgium postponed – again
A billion-euro investment in a carbon capture and storage (CCS) project in Antwerp has been further postponed pending additional public funds, Belgian media reported at the weekend.
Cost of carbon to weigh on oil refineries in years to come -report
The mid-term outlook for oil remains relatively strong, but less so for refiners, with more than a fifth of them facing the possibility of closure next decade driven in large part by decarbonisation efforts and carbon taxes, in Europe especially, according to an energy consultancy report.
Buyers’ club signs up for carbon removals from waste incineration
A carbon removals buyers’ club has sealed a deal for the first known pre-purchase of removal credits from a Norwegian waste incineration plant, the buyer and developer announced on Tuesday.
EU executive presents amendment to CO2 cars emission standards
The European Commission is proposing to amend its regulation on CO2 emissions standards for new cars and vans, introducing a flexibility measure between 2025 and 2027, it announced on Tuesday.
Euro Markets: EUAs consolidate early stops-driven price jump as market eyes tariffs news
European carbon allowances broke out of a fairly well-established range early on Tuesday as stops were triggered before settling into a narrow range later on, with some eyeing a traditionally strong month for EUA prices in April.
Swiss biochar startup axes Mexican business unit post-Microsoft offtake
A Geneva-based biochar startup that entered into a large-scale offtake agreement with Microsoft has shuttered its activities in Mexico but is pursuing other projects, Carbon Pulse has learned.
AMERICAS
Bankruptcy marks final blow for US carbon credit firm tied to celebrity investors, fraud case
A US-based, celebrity-endorsed carbon offsets company in the middle of a $145-million fraud case launched against its co-founder has filed for bankruptcy.
Carbon project financier doubles net loss, slashes headcount following massive portfolio writedown
A Canadian-headquartered carbon project financier nearly doubled its net loss in 2024 and has cut its workforce by more than 80% as part of an ongoing restructuring effort following a massive portfolio writedown.
Despite sales bump, carbon project financier flips to FY loss on portfolio value cut
A Canadian-headquartered carbon project financier has reversed its 2023 profitability by reporting a net loss of $28.9 million for full-year 2024, driven primarily by unrealised losses on investments, despite a rise in revenue from offset sales.
Business group urges US Congress to halt clean car sales mandate
A coalition of over 330 businesses in the US called on the congressional leadership to scrap Advanced Clean Cars II (ACC II) regulations, which mandate all new cars, trucks, and SUVs sold in participating states to be zero-emission by 2035.
US next gen geothermal developer snags major investors for expansion
A US geothermal energy developer has closed a more than $10-million financing deal to boost team expansion in coming months.
US natural gas power gen with CCS an attractive option for cutting emissions, meeting growing electricity demand -report
Natural gas power plants in the US should deploy carbon capture and storage (CCS) to align with stakeholder goals to cut emissions in coming years, while also meeting heightened electricity demand from the expected AI boom, according to a recent report.
California lawmaker seeks 10-year deferral of zero-emission school bus transition
An assemblymember has introduced an amendment to a California bill that requires schools to switch to zero-emission student transportation to extend the timeframe for adoption by 10 years.
Minnesota Democrats introduce bill to establish clean transportation standard
A partisan bill introduced by Minnesota Democratic lawmakers proposes the creation of a statewide clean transportation standard aimed at reducing GHG emissions from transportation fuels.
Canadian CCS firm could shift attention to VCM upon possible carbon tax repeal, CEO says
A Canadian carbon capture and sequestration (CCS) firm said Tuesday that a possible repeal of the country’s industrial carbon tax may prompt it to start looking to the voluntary carbon market (VCM) for new revenues, even as its CO2 offtake agreement with a public investment fund is slated to endure any election outcome.
INTERVIEW: Canada’s stance on DME limiting industry growth
Innovators are pushing for dimethyl ether (DME) to be considered a clean fuel in Canada to encourage sector growth, according to an expert.
ASIA PACIFIC
INTERVIEW: Pacific climate fund open to Article 6, private capital
The Pacific Resilience Facility (PRF) is open to financing projects developed under Article 6 and leveraging private capital for further investment in the future, according to its general manager.
Japanese trading house, French startup launch investment platform for nature-based projects
One of Japan’s major trading houses has partnered with a French startup to expand their presence in the international voluntary carbon market, with plans to operate an investment platform for nature-based solutions and develop removal projects in Africa.
Indian developer sells over 60k credits to carbon removal platform
An Indian project developer has sold over 60,000 carbon credits from several projects to a Denmark-based carbon removal platform, it said in a statement Tuesday.
India’s heavy industries can cut 29 MtCO2e/year by tapping solar potential -study
India’s steel, cement and aluminium industries could cut reliance on captive coal, reduce production costs, and slash emissions by up to 29 million tonnes of CO2e annually by tapping into a 20-GW solar opportunity, according to a study published on Tuesday.
Japan sets up centralised agency for JCM projects, registry
Japan has established an agency to operate the bilateral Joint Crediting Mechanism (JCM), as the country aims to streamline the process for the creation of Paris-aligned carbon credits.
Australia needs a national carbon market strategy, flagship report says
A national carbon market strategy would help Australia chart its emissions reduction course in a rapidly evolving and destabilising world, according to a report published Wednesday.
Australian watchdog offers more clarity on emissions reporting
Australia’s corporate watchdog in charge of overseeing company probity and handing out fines for greenwashing has offered new guidance on mandatory climate disclosures, with advice on how to disclose Scope 3 emissions.
INTERNATIONAL
Climate finance roadmap should address carbon markets, as well as public vs private funds -submissions
A global plan for shoring up $1.3 trillion per year of climate finance could provide details on how carbon markets can contribute – although discussions so far are more focused on clarifying the role of public and private sector money, and how to track it.
Singapore, Peru sign Article 6 implementation agreement
Singapore has signed an implementation agreement on carbon credits with Peru under Article 6 of the Paris Agreement, marking the city state’s first such partnership with a Latin American nation, Singapore’s Ministry of Trade and Industry announced on Tuesday.
VOLUNTARY
VCM MONTHLY DATA: Voluntary carbon credit retirements slump as oil and gas steps back
Voluntary carbon credit retirements slumped in March as oil and gas retirees that had propped up total volumes stepped away, amid a wider pullback from climate initiatives and market uncertainty, according to participants.
Demand mirrors supply in 2025, but VCM due diligence still developing -panellists
Demand for offsets in the voluntary carbon market (VCM) is expected to closely align with supply in 2025, but buyers’ due diligence practices are still developing amid an increased focus on quality, panellists said at a Tuesday webinar.
BIODIVERSITY (FREE TO READ)
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FEATURE: The critical changes happening for nature-based solutions in the UK water sector
The UK water industry has reached a turning point after years of excessive pollution, with new regulatory requirements triggering a fundamental shift towards nature-based solutions (NBS) – with global implications.
Triodos announces UK natural capital partnership
The UK branch of Dutch-headquartered bank Triodos has provided a loan to restoration company Restore to expand its natural capital services in areas including voluntary biodiversity credits.
Major consumer brands are driving fracking and fuelling the plastic crisis -study
More than 25 major consumer brands, including Coca-Cola and Nestle, are driving fracking demand in Texas, fuelling the plastic crisis and the environmental degradation that comes with it, according to an investigation by two non-profits.
Biodiversity Pulse: Tuesday April 1, 2025
A twice-weekly summary of our biodiversity news plus bite-sized updates from around the world. All articles in this edition are free to read (no subscription required).
AFD
You belong with COP30: Organisers, fans brace for Belem takeover as Taylor Swift joins climate summit
Global pop superstar Taylor Swift has been appointed Global Youth Engagement Ambassador for COP30, the upcoming UN climate summit in Belem, Brazil, sparking an unexpected tidal wave of interest from her devoted fanbase — and prompting organisers to radically rethink logistics.
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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
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
EMEA
Nuclear financing – A senior Treasury minister in UK government has expressed confidence that private finance for the Sizewell C nuclear power station will be ready in time for a final investment decision (FID) in June over whether to proceed with the delayed project. The crunch point for the planned project in Suffolk, southeast England is coming up in 10 weeks’ time, at the time of the government’s three-year spending review, Darren Jones, chief secretary to the Treasury, told the FT. He expects all investors to be teed up by then for FID to be taken. The UK government and French utility EDF had previously hoped to reach FID last year but the process has dragged on and the price tag has soared since its £20 bln estimate. However, potential investors such as Centrica and Schroders Greencoat still may not invest and could balk at the project’s huge costs. But Jones said the government has already released a couple of billion pounds for enabling works at the site.
EPC contract for CCS – Aker Solutions has been awarded an engineering, procurement, and construction (EPC) contract for the second phase of the Northern Lights carbon storage project in Norway. It follows the company’s delivery of the project’s first phase in 2024. The project will start in 2Q 2025 and is expected to be complete in 2028. Phase 2 of Northern Lights will increase the transport and storage capacity from 1.5 million to a minimum of 5 mln tonnes of CO2 per year and is enabled by a grant from the Connecting Europe Facility for Energy (CEF Energy) funding scheme.
In too deep peat – The UK government has proposed protecting an extra area of peatland approximately the size of London by banning its burning over 146,000 ha. The proposed action seeks to improve air quality, help reach net zero by 2050, and expand wildlife-rich habitat. If implemented, the changes will increase the area currently protected from 222,000 ha of deep peat to more than 368,000 ha in England.
Solar run – Solar broke another historical record in European power generation this March for the third consecutive month, making up more than 10% of Europe’s electricity mix – shows Eurelectric data. This combined with more nuclear power and milder weather, decreased power prices to €90/MWh compared to the highs of €126/MWh in February and €112/MWh in January. Despite this, the average day-ahead electricity price in Q1 2025 remained 51% higher than the Q1 2024 average. The primary reason for this is higher gas prices.
ASIA PACIFIC
Insurance support – South Korea’s official export credit agency, K-Sure, is promoting joint insurance underwriting for the carbon reduction project promoted by the Korean government in Cambodia together with the World Bank’s Multilateral Investment Guarantee Agency (MIGA), ESG Economy reported. The Cambodia project, under the Paris Agreement Article 6.2 approach, will supply 8,000 electric motorcycles to the country free of charge.
Green tick – Japan’s Osaka Gas has introduced GreenChecker, which it claimed to be the world’s first AI-based web service used to evaluate the quality of carbon credits, according to a company statement. GreenChecker, which examines the consistency of carbon project plans with multiple pre-set criteria, initially targets carbon credits from biochar and rice projects. It will be available to the public around Summer 2025.
AMERICAS
Not 1812 – A Democrat-backed resolution in US Senate to block tariffs on Canada is expected to have Republican support in a floor vote, E&E News reported Tuesday. Several elected officials, including Sen. Susan Collins (R-ME), have said that they will back the resolution led by Sen. Tim Kaine (D-VA) to terminate the national emergency declared by US President Donald Trump that placed sweeping tariffs on Canadian goods.
Risk rules reversed – The US Office of the Comptroller of the Currency (OCC) has withdrawn the interagency principles for climate-related financial risk management for large financial institutions. Acting Comptroller Rodney Hood stated that the guidance was overly burdensome and duplicative, asserting that existing OCC risk management requirements already address potential exposures such as severe weather and natural disasters. The agency said that it would continue to ensure that banks maintain risk management processes appropriate to their size and risk profile.
Sizing down – The US EPA said it would consolidate its downtown Washington DC, footprint, which it said would save the agency $18 mln in lease costs annually. This consolidation would result in EPA’s leased space decreasing by some 323,000 sq. ft. (30,000 sq. metres). The agency will redirect some of the savings to make infrastructure improvements to other buildings in the Federal Triangle campus, it said.
No cost workshop – Washington’s Department of Ecology (ECY) will hold a public workshop on electric utility allocation under its cap-and-trade scheme on Apr. 17. Electric utilities receive free permits under Washington’s programme. The agency will present on topics relevant to vintage 2026 allocation and the first compliance period. The session will also discuss electric utility allocation rules for the second compliance period, which spans 2027–30, as well as the cap-and-trade rulemaking announced this week.
Imminent ban? – Iowa House of Representatives last week voted 82–12 to pass House File 943 (HF 943), which seeks to restrict the use of eminent domain for CO2 pipeline projects in the state. The bill has since been referred to the Senate Commerce Committee. If passed, HF 943 could threaten Summit Carbon Solutions’ (SCS) CO2 pipeline development in the state by challenging the construction permit approval issued last year, which granted the firm the right of eminent domain. A similar bill was signed into law in South Dakota earlier in March, prompting SCS to request a pause in the schedule for its pipeline construction application review in the state.
Do you like clean fuel standards – A bill in Hawaii state legislature to enact a state clean fuels programme – SB 1120 – will soon reach the House floor for vote, following a 13-0 vote in the House Finance Committee last week, according to legislative filings. If passed, it would require the state to adopt rules no later than Jan. 1, 2028, inclusive of an implementation date, standards for emissions measurement, mechanism for credit generation, and exemptions as appropriate.
Salty solutions – Planetary, a Canadian company focused on ocean-based CO2 removal (CDR), reported total contracted CDR sales of $4.1 mln in 2024 through its Ocean Alkalinity Enhancement (OAE) projects in Nova Scotia and Virginia. It also expanded Indigenous engagement, improved dosing efficiency, and secured $11.35 mln in Series A funding to scale operations, according to its 2024 report.
Check yourself, eh! Green Economy Canada launched a new free tool called the Climate Transition Assessment, which evaluates a company’s exposure to climate impacts, readiness for the net zero transition, and progress toward net zero. It takes less than 15 minutes to complete, consisting of multiple choice questions across three sections, and is available for all businesses operating in Canada. Green Economy Canada was launched in 2022 to accelerate Canada’s transition to a net zero future through a membership model, with hubs set up in seven cities nationally.
VOLUNTARY
REDDying risk maps – Verra has published a timetable outlining the release of allocated deforestation risk maps used to support project baselines under its forest methodology VM0048. The schedule shows when provisional maps are or will be available for jurisdictions, and when final jurisdictional baseline activity data and VMD0055-compliant risk maps will be published in the Verra Project Hub. These datasets, which allocate historical deforestation rates and risk across landscapes, are critical for setting credible baselines in REDD+ projects. The update, current as of Mar. 28, 2025, will be revised as needed to reflect data development progress, Verra said.
Climeworks CTO – Helin Cox has joined direct air capture (DAC) developer Climeworks as chief technology officer, effective immediately, the company announced in a press release Tuesday. A chemical engineer by training, Cox will bring with her expertise in technology commercialisation, industrial scale-up, and R&D portfolio construction, helping to drive Climeworks’ continued innovation. Joining Climeworks from Honeywell, in her new role Cox will lead a unit of 150 engineers and scientists to further optimize the company’s DAC tech, progressing towards higher CO2 capture and lower energy consumption.
AVIATION
Business travel – Corporate travel emissions of 239 global companies fell by 34% since 2019, but disproportionate flying by Merck, Bosch, JPMorgan Chase, and other top polluters risk jeopardising the achievements of the industry overall. The report by think tank Transport & Environment found global multinationals are now flying less, yet 44% of the 326 companies in the ranking still have no target applying to business travel, putting overall progress at risk. 25 of the top-flying companies, including Google and Apple, have not taken credible steps to set targets despite their flights emitting annually a total of 6.9 mln tonnes of CO2. While JP Morgan Chase, Merck, and Bosch have increased their business travel emissions by 41%, 29%, and 3% respectively since 2019. The study found specific targets lead to more effective reductions, with companies to have set targets specifically for air travel reducing their emissions by 48% since 2019 compared to 41% decrease for those with a less specific business travel target.
AND FINALLY…
Planting progress – Delmarva Power, a regional electricity and natural gas provider serving parts of Delaware and Maryland, is offering 730 free trees to residential customers through its partnership with the Arbor Day Foundation’s Energy-Saving Trees programme. The initiative, available on a first-come, first-served basis, aims to improve energy efficiency and environmental quality by providing native tree species including Baldcypress, River Birch, and Red Maple. As the trees mature, they are expected to lower heating and cooling costs by 15-30%. Customers can use online tools to determine optimal planting locations for maximum energy savings. Since the program’s launch in 2012, Delmarva Power has distributed thousands of trees, which the company claims have collectively saved an estimated 27.3 mln kWh of energy, reduced over 206,000 lbs (93,000 kg) of air pollution, and generated nearly $11 mln in combined energy and community benefits.
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