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TOP STORY
Carbon project financier sues former execs, claiming over $45 mln in damages
A Toronto-based carbon project financier filed legal action Monday claiming over $45 million from several former executives and consulting companies for alleged breaches of fiduciary duty, fraudulent misrepresentation, and unjust enrichment.
EMEA
BRIEFING: EU planning to launch CDR policy framework next year, after 2040 target
A comprehensive policy framework to scale up carbon removals (CDR) will be discussed once the EU has decided its climate target for 2040, a senior European Commission official has said, outlining the main options currently on the table.
DATA DIVE: Carbon analysts shrug off impact of low Rhine water levels amid wider tariff drama
Exceptionally low water levels on the Rhine river in Germany have filtered in some support for EUAs, but the potential bullish impact due to disruption of coal deliveries to power plants has been pushed to the sidelines by the wider macroeconomic turbulence brought on by US President Donald Trump’s volatile tariff policy.
EU to launch Russia’s ‘fossil-freedom’ plan next month -media
The European Commission will unveil a long-delayed roadmap early next month detailing its strategy to phase out Russian fossil fuels, Bloomberg reported Monday, as Brussels looks to reinforce its energy autonomy while grappling with industrial cost pressures and internal political divisions.
Brussels seeks views on rules underpinning EU ETS Modernisation Fund
The European Commission on Monday launched a call for evidence to evaluate the operating rules of the Modernisation Fund that draws money from the EU’s Emissions Trading Scheme to finance clean energy projects in lower-income countries in the region.
Denmark CCS developers to consider storing Swedish CO2
The developers of Denmark’s first carbon capture and storage (CCS) project have agreed to look into the potential for storing CO2 from Sweden in their North Sea site from 2028, they announced on Monday.
Georgian CCS project ready to move to injection phase in mid-2025
An oil and gas producer with assets in Georgia is aiming to start injecting CO2 into its reservoir by the middle of this year after a series of successful tests, the company announced on Monday.
First companies chosen under Africa carbon removal accelerator
The first cohort of companies has been chosen by a new Sub-Saharan Africa carbon removal (CDR) accelerator programme.
Report shows Kenya significantly expands clean cooking access, on track to achieve its electricity targets by 2030
Kenya has shown significant improvement in expanding access to clean cooking solutions and electricity due to its robust policies and infrastructure investments, according to a report released by the International Energy Agency (IEA) on Monday.
Euro Markets: EUAs extend gains to 6-day high amid sustained short covering and stronger gas
European carbon prices extended the rally that began on Friday morning, climbing to their highest in more than a week as the market continued to react to the decision by the US late last week to pause the implementation of new tariffs for 90 days, as well as the weekend announcement that certain products made in China were also exempt.
AMERICAS
RGGI Market: RGAs rebound in thin trade after historic crumble
RGGI Allowance (RGA) prices recovered above $18 in light activity after toppling through a historic week of White House plans to dismantle state-led cap-and-trade schemes and macro market jolts from US reciprocal tariff turnabouts.
USDA cancels remainder of $3 bln climate-smart agriculture programme grants
The US Department of Agriculture (USDA) on Monday cancelled the remaining funds of a $3 billion Biden-era programme aimed at creating market opportunities for American commodities produced using climate-smart practices.
INTERVIEW: Congressional protections for fossil fuel industry key to executing White House support -legal expert
The fossil fuel industry could be protected from climate litigation following US President Donald Trump’s recent executive order (EO), a lawyer told Carbon Pulse.
US IRA partial repeal could save $421 bln
Repealing certain tax credit provisions of the Inflation Reduction Act (IRA) would save $421 billion in federal spending by 2034, according to an environmental research centre.
Insurer launches cover for US orphaned well-plugging liabilities
A risk mitigation and insurance company has launched a new insurance product designed to cover liabilities associated with US well-plugging projects that generate carbon credits.
INTERVIEW: Brazil ETS could massively boost GDP, needs “moderate” R$50/t price to start
Brazil’s incoming emissions trading system (Portuguese: SBCE) can attract sizable green investment and boost GDP, but the price of allowances must be set at a “moderate” level before increasing, according to the ESG lead at an international investment bank.
Brazil launches $26 mln call for restoration of Indigenous lands
Brazil’s national development bank and environment ministry on Friday launched a R$150 million ($25.6 mln) call for the ecological restoration of Indigenous lands in areas of the country suffering from deforestation.
Developer’s appeal of Cordillera Azul court ruling slated for hearing this month
A courtroom saga involving the massive Cordillera Azul REDD project in Peru will see another hearing later this month, by virtue of an appeal launched by the project’s backers after a court ruled in favour of Kichwa Indigenous peoples late last year.
LATAM Roundup: East Asia goes carbon credit shopping in South America
Carbon markets ties between select East Asian nations and South American project host countries strengthened last week, while the Colombian government offered an official explanation for an increase in the use of offset credits in 2024 for compliance with its CO2 tax.
US university carbon capture hub names new co-director
A hub at a university in Connecticut engaged in research on natural carbon capture announced last week a new co-director.
Texas-based CCS firm picks new CEO as it pursues carbon storage hubs
A Texas-based carbon management firm has appointed a new CEO to lead the company as it develops carbon storage hubs in Louisiana and Colorado, the company announced Monday.
ASIA PACIFIC
BRIEFING: Australia on the cusp of biochar boom, but policymakers yet to catch on
Australia is on the verge of massively boosting its production of biochar thanks to a single large project, but the sector and its benefits are still relatively unknown in policymaker circles, according to proponents.
Australian voluntary cancellations plummet in March
Clean Energy Regulator data showed just 154,000 Kyoto-era carbon credits were cancelled in Australia’s national accounts in March, a substantial slide compared to the previous month when 417,000 credits were cancelled.
Engie’s sustainability consultancy arm to shut Singapore offices
French utility company Engie’s sustainability and energy management consulting arm Engie Impact will shutter its offices in Singapore on Oct. 31.
China to permit new coal power plants until at least 2027
Construction of new coal plants in China will be allowed until at least 2027, according to an action plan released Monday by the country’s top regulators.
Vietnam mulls raising ETS offset limit to 30% in pilot phase -media
Vietnam may allow companies to offset up to 30% of their emissions through carbon credits in the initial pilot phase, up from 10% currently, under a proposed revision to its climate regulation.
INTERNATIONAL
BRIEFING: Carbon price for global shipping may be a huge step forward, depending on details to come -experts
The agreement to set a global carbon levy on shipping emissions struck last week in London represents a huge step forward for the industry and sets the tone for the phaseout of LNG — but the devil will be in the details for scaling up net zero fuels, experts say.
Signed Article 6 agreement between Paraguay, Singapore expected by May -official
Paraguay expects to sign its long-awaited implementation agreement with Singapore under Article 6.2 of the Paris Agreement by next month, a top official has told Carbon Pulse.
VOLUNTARY
VCM Report: Thin trade dampens voluntary carbon prices amid holiday blip, US uncertainty
Trade on the voluntary carbon market was thin last week and prices dipped lower, due to a period of seasonal holidays affecting several markets as well as the uncertainty around the impact of US President Donald Trump’s tariff policy.
BIODIVERSITY (FREE TO READ)
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EU moves to include biodiversity among criteria for renewable energy auctions
EU member states have agreed to include biodiversity protection among the criteria that should be considered in renewable energy auctions under the bloc’s Net Zero Industry Act (NZIA).
Australian asset manager launches A$750-mln agriculture strategy eyeing biodiversity, carbon markets
A Sydney-headquartered investment manager has launched a A$750-million ($473 mln) strategy targeting sustainable agriculture projects in Australia and New Zealand, with plans to engage in the biodiversity and carbon markets.
Study maps high-value protected areas in Africa
A team of researchers has identified 162 protected areas (PAs) across Africa with above-average potential for nature conservation, arguing that their effective management could play a critical role in achieving the region’s biodiversity targets.
Nature financing initiative launches with European Space Agency funding
A satellite data-driven nature financing initiative supported by the European Space Agency has launched with six pilots, including a biodiversity credit indicator project.
Non-profit announces ratings agency for nature projects
A UK-based non-profit called Foundation For Nature has launched with the aim of developing a ratings agency for nature restoration initiatives to help build the market.
BAVARDAGE
Carbon Pulse partners with AlliedOffsets to launch season 2 of the Fantasy Carbon Trading League
Earlier this year, AlliedOffsets, the world’s largest data provider for the voluntary carbon market, created a fantasy league for carbon markets. Now it’s partnered with Carbon Pulse to launch a new, improved second season that introduces compliance market trading amongst other updates.
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EVENTS
Carbon Forward Turkiye – May 7-8, Izmir – Following the success of our inaugural event in Izmir, we are excited to host the second annual instalment of Carbon Forward Turkiye. With the country about to launch its national ETS, attendees will learn what’s in store for participants and other stakeholders. Also, take a tour of the region’s other carbon markets, consider the financial impact of the EU’s CBAM, and hear from experts about developments in the voluntary carbon market, CO2 removals, CORSIA, and decarbonisation in the power, industrial, and shipping sectors. The agenda will be released shortly but registration is now open, with a 30% super-early bird discount available for a limited time.
Carbon Removal Investment Summit – June 3, London – cCarbon is hosting this exclusive, one-day conference with the goal of accelerating carbon removals through a data and modelling-driven discussion. It will bring together a distinguished group of investors, capital providers, carbon removal buyers, leading developers, and other key stakeholders to unlock investment and create partnering opportunities. An invite-only investors’ conclave will take place during the summit to explore pathways for unlocking and chanelling capital into carbon removals. Attendees will have the opportunity to participate in high-impact sessions to discuss the business case for nature- and technology-based removals. cCarbon will unveil a data-driven benchmarking tool designed to assess carbon removal providers based on key factors like feasibility, scalability, and maturity. Register here.
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Job listings this week
- Greenhouse Gas Inventory Geospatial & Data Visualization Specialist (Environmental Specialist 5), Washington State Department of Ecology – Lacey
- Climate and Land Use Data Scientist, Conservation International – Eastern Cape, South Africa
See all listings or post a job
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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
High level – Last week the Methodology Expert Panel (MEP) met in Bonn to advance key work on the PACM crediting mechanism under Article 6.4. The meeting covered the development of standards on baseline setting, leakage, suppressed demand, non-permanence and reversals, and updates to CDM methodology ACM0001 for flaring and landfill gas. Small group discussions were also held throughout the week. In terms of outcomes, a structured draft for baseline setting was prepared, focusing on approach selection and emission comparisons. For leakage, a draft standard identified sources and differentiated between positive and negative leakage, proposing strategies to mitigate the latter. On suppressed demand, the group assessed various metrics and recommended a conservative benchmark of 1,000 kWh per capita to prevent over-crediting. Regarding non-permanence and reversals, discussions emphasised monitoring report timelines and the need for reservoir-specific reversal risk assessments. In the waste sector, the review of oxidation factors and collaboration with research groups aimed to enhance methodologies and avoid carbon-intensive lock-in. The revised methodology for landfill gas flaring was also addressed. The MEP reports to the Supervisory Body, which will next meet mid-May. UN experts have said the first PACM credits may hit the market as early as July.
Funding loss and damage – The Fund for Responsible Loss and Damage will spend $250 mln through the end of 2026 to help developing countries deal with the effects of climate-driven disasters, Climate Home News reported last week, following a meeting of the UN fund’s board in Barbados. The board agreed on a strategy for the start-up phase of the fund – called the Barbados Implementation Modalities – focusing at first on strengthening national responses to climate change impacts. It will provide grants of $5-20 mln to projects proposed by developing countries, as well as direct budget support to governments for emergency measures. The board will start approving projects at its next meeting. Small island developing states and the least developed countries will receive half of the fund’s resources in the initial phase, following strong debate within the board.
Reinvisioning ESG – A Goldman Sachs analyst told CNBC that sustainable investors should begin including oil and gas stocks in their ESG portfolios, given that oil and gas development will continue for decades. “Let’s be clear, this energy transition will be much longer than expected. We are going to have, we think, peak oil demand in the mid-2030s [and] peak gas demand in the 2050s,” said Michele Della Vigna, head of EMEA natural resources research at the bank. “And we clearly show that we need greenfield oil and gas development well into the 2040s. So, if we need new oil and gas development, why wouldn’t we own these companies?” He added that fossil fuel companies are major investors in low-carbon technologies, and that failing to engage with their stocks could serve as a barrier to the energy transition. Other investors CNBC spoke with pushed back against Della Vigna’s argument. Ida Kassa Johannesen, head of commercial ESG at Saxo Bank, claimed that the impacts of climate change being recorded today were directly tied to oil and gas, and therefore ESG investors may not be interested in backing such investments.
EMEA
CCS consent – The UK’s Secretary of State for Energy Security and Net Zero has granted development consent to the Viking carbon capture and storage (CCS) pipeline in the Humber, northeast England. The project comprises a new circa 55 km onshore underground pipeline from the point of receipt of dense phase CO2 at Immingham, through its transportation to facilities at Theddlethorpe gas terminal, and transportation from TGT through the existing LOGGS pipeline to Mean Low Water Spring (MLWS). The development consent follows a six-month examination period during which local people and the local authority were able to participate. Viking, along with the Acorn project in northeast Scotland, form part of the UK’s “Track-2” CCS clusters, which were confirmed eligible for government funding back in Jul. 2023.
Saving steel – The UK government has taken control of China-owned British Steel after emergency legislation was rushed through Parliament on Saturday, the BBC reported. Business Secretary Jonathan Reynolds told MPs the government’s likely next step would be to nationalise the Scunthorpe plant, which employs 2,700 people. He said he was forced to seek emergency powers to prevent owners Jingye shutting down its two blast furnaces, which would have ended primary steel production in the UK. Prime Minister Keir Starmer said he wants steel made in Britain to be the backbone of getting the country building once again. The new law hands Reynolds sweeping powers to control management and workers at the plant to ensure production continues, but Jingye will retain ownership of it for now, and the government still hopes to secure private investment to save it. The Department for Business and Trade said officials are working to secure supplies of materials, including coking coal, as well as to ensure all staff at the Scunthorpe site will be paid. The British steel industry is struggling to transition to a low-carbon future, with significant investment needed in electric arc furnaces (EAF) and hydrogen-based ironmaking to stimulate industry growth, according to climate think tank E3G.
UK-Saudi Vision 2030 – The UK government and City of London Corporation have signed an agreement with the Saudi government, creating a strategic partnership between Britain’s professional services sector and Saudi Arabia’s sustainable infrastructure developers focused on EVs and sports, they announced on Monday. The initiative is aimed at boosting trade flows and supporting the Saudi Vision 2030 programme, geared towards diversifying the country’s economy away from oil. The partnership creates the UK-Saudi Sustainable Infrastructure Assembly, made up of firms, policymakers, and industry experts from both countries. It includes the creation of a new Electric Vehicle Infrastructure Company, led by Saudi Arabia’s sovereign wealth fund, the Public Investment Fund, and the Prince Faisal Bin Fahad Sustainable Sports City, led by the Saudi National Centre for Privatization. The assembly launches next month in Riyadh and will hold its first meet in June in London and its last in Riyadh this autumn, during the Future Investment Summit.
Clean-up job – According to a new article from Follow The Money, the EU ETS is potentially being exploited for money laundering. The article, using 2023 research for Germany’s environment agency (UBA), raised concerns that criminals may use the system to clean illicit funds by buying and trading emission allowances. A key vulnerability lies in the lack of price transparency in the EU ETS registry, as per the reporting. Research by criminologist Kai Bussmann, cited in the article, flagged over 3,000 potential money laundering indicators, highlighting a possible underestimation of the threat across the system.
Delaying tactics – The UK government’s decision to push back its zero emission vehicle (ZEV) mandate is really disappointing and will mean the country struggles to hit its decarbonisation targets, said Matt Galvin, UK head of Polestar, a key Tesla rival, as reported by the Times. Last week the ZEV mandate was changed, reducing fines for manufacturers that do not sell enough electric cars and extending the phase-out of petrol and diesel cars past the previous 2030 deadline to 2035. The mandate is now no longer fit for purpose and does nothing to incentivise people to buy EVs, said Galvin.
ASIA PACIFIC
Heading south – Australian Prime Minister Anthony Albanese has declared that Adelaide will host the COP31 talks if the country manages to secure its bid to host the talks, the Australian Financial Review reported. Albanese showed his support while on the election campaign trail in the South Australian capital. Adelaide has been promoting itself as a potential host for the talks, keen to see the perceived economic benefits that bringing the UN talks to the city would bring. Australia is competing against Turkiye to secure the conference, the outcome of which is likely to be decided at the intersessional. Coalition leader Peter Dutton has vowed to dump the bid if his party is successful at the polls on May 3.
Pilot soon – Pakistan is planning to launch a pilot carbon offset project on the Margalla Hills situated in the foothills of the Himalayas, to protect and restore the mountain range, the country’s Minister of Climate Change Musadik Masood Malik has announced. Pakistan has called on developed economies that are responsible for pollution to purchase carbon credits from countries like the South Asian nation, that are actively working to reduce emissions.
Planting out – Australian carbon fund Silva Capital has completed its first years’ planting at one of its seed assets in Queensland. The firm reached first close of its Silva Carbon Origination Fund in July, last year with Qantas and Rio Tinto serving as foundational backers. Silva and Covalent Land Australia said it planted 160,000 mixed species native trees on its Queensland project, and estimate it will capture around 460,000 tonnes of carbon over the next 25 years. Silva said it worked with the Auburn Hawkwood People Aboriginal Corporation to undertake cultural heritage surveys of the project and have since put in protective measures to protect areas and artifacts of cultural significance. Silva’s fund has so far raised A$100 mln ($63 mln) and expects to reach its target of A$250 mln by the end of the year.
Unbothered – Taiwan’s carbon levy programme will proceed as scheduled despite potential tariffs and changes in the international institutional environment, said Minister of Environment Peng Chi-ming, according to the Central News Agency. The impact of carbon fees on domestic industries should be very small, the minister said Monday, citing the example of the island’s biggest steelmaker CSC. The company will only have to pay around NT$360 mln ($11 mln) in carbon levies, representing 0.1% of its total revenue in 2024, given special arrangements for industries classified as at risk of high carbon leakage, according to the minister. Emitters regulated under Taiwan’s carbon levy scheme are set to officially pay for their emissions from 2026 onwards.
Cash for impact – The Asian Development Bank (ADB) has invested up to $20 mln in ABC Impact Fund II, a $600+ mln regional private equity fund managed by Singapore’s Temasek Trust Asset Management, according to a press release. The fund targets growth-stage companies in China, India, Indonesia, Malaysia, the Philippines, Thailand, and Vietnam, with a focus on sustainable agriculture and climate solutions. ADB recently partnered with a Swiss climate finance company to develop a carbon pricing framework for Indonesia’s capital Jakarta.
Certified – South Korean developer EcoLinks has secured certification from the Gold Standard for its programme of activities PoA – GS13116 for the distribution of improved biomass cookstoves and installation of safe water technologies in Rwanda, it has announced. The clean-cooking component of the project is expected to cut emissions by around 1 MtCO2e over a five-year crediting period while the clean water initiative aims to cut emissions by around 300,000 tonnes of CO2e during the same period. Both the projects Article 6-compliant, with the cookstoves project already having secured its Letter of Authorisation (LoA), the developer said.
Very genuine – US-based Climate Compass’s methane leak detection and repair (LDAR) project in Uzbekistan has been awarded ‘AA’ rating by BeZero Carbon, making it one of only nine projects worldwide to receive such rating, it said. The project is a collaboration between GasGreen Asia and national gas distribution company, Hududgaz and has to date identified, measured, and fixed over 50,000 individual methane leaks, generating emission reductions of over 7 MtCO2e per year.
Time for action – Pakistan is ramping up efforts to restore blue carbon ecosystems to improve climate resilience, Maritime Affairs Minister Junaid Anwar Chaudhry has said, according to Mettis. He called for the protection of mangroves, seagrasses, and salt marshes, which act as carbon sinks and natural defences against rising sea levels. But a report earlier this year said that the carbon sequestration potential from these ecosystems may be overestimated. The minister also warned of growing threats from pollution, overfishing, and coastal development, urging immediate action.
AMERICAS
Blaze blueprint – A draft executive order under review by the White House outlined US President Donald Trump’s plans to create a new federal agency responsible for all wildland firefighting nationwide by 2026. The order proposed launching a national task force within 90 days, consolidating resources from the Departments of Agriculture, Interior, and Homeland Security. The long-term goal is to establish a National Wildland Fire Agency through congressional action. The draft document stated the initiative aims to “eliminate red tape” and prioritise rapid wildfire response, following recent wildfires in Los Angeles. (E&E News)
Well Done Oklahoma – The Well Done Foundation (WDF) successfully sealed it’s 50th well nationwide, and first in Oklahoma, as part of an ongoing partnership with US Fish & Wildlife Service to plug 110 wells this year. The number of orphaned wells in the US threatening wildlife habitats and releasing methane emissions is estimated at over 2 mln. The WDF sponsored a carbon credit methodology in 2020 to help fund well plugging initiatives, releasing nearly 800,000 credits to the voluntary market in Dec. 2024. The organisation also announced earlier this year it would offer insured carbon credits from its methane abatement efforts.
The kids don’t quit – The young climate activists from California that brought a lawsuit against the US EPA filed a notice of appeal with the 9th US Circuit Court of Appeals last week, E&E News reported. The 18 plaintiffs alleged that the federal agency effectively discriminated against minors by undervaluing the future benefits of pollution regulations. A judge dismissed the lawsuit in the US District Court for the Central District of California in February, saying the activists failed to show how the federal regulations injured them. The plaintiffs cannot refile their case in the same district court following the dismissal.
Renewable fuels expansion – The Iowa Renewable Fuels Program (RFIP) board has approved 114 project applications for new and expanded ethanol and biodiesel projects, which will receive $2.9 mln in total grant funding. Some $2.7 mln of the total will fund new ethanol fuelling infrastructure for 112 E15 projects at gas stations in 44 Iowa counties, while the remaining $150,000 will support two biodiesel initiatives. These investments are helping more gas stations come into compliance with the E15 Access Standard, which will take full effect on Jan. 1, 2026, said Iowa’s Department of Agriculture and Land Stewardship. Iowa is the first state to enact the regulation, which requires most fuel retailers and gas stations to offer E15 by Jan. 1, 2026. Earlier this year, the US EPA granted the year-round sale of E15 to Iowa along with eight other states beginning Apr. 28.
No fronting – The state legislature of Goais in Brazil has approved the creation of a Parliamentary Front in Defence of Just Climate Transition and Promotion of Carbon Credits as a Sustainable Solution. The front intends to support a state strategy on REDD+ and participation in Brazil’s national carbon market, among other aims. The parliamentary organisation still requires final approval from the state’s governor to come into effect. (Agita Goais)
Forest friends – Sao Paulo-based private social investment foundation Arapyau Institute and industry association Brazilian Tree Industry (Iba) announced last week the signing of a partnership agreement aimed at supporting the country’s goal to restore 12 mln hectares of native vegetation by 2030. The partnership has three main objectives: to mobilise the private sector for construction of carbon markets and for timber and non-timber products; share knowledge and operational challenges; and foster discussions and actions to unlock resources and incentives for the sector. In a March interview, Roberto Waack, chairman of the board at Araypau, told Carbon Pulse Brazil must engage non-carbon market instruments and more traditional finance flows to conserve and restore its forests.
You can go your own way – Canada will no longer fund travel costs of national experts for the next major global climate science assessment. Scientists, including the lead author of the UN’s last Intergovernmental Panel on Climate Change (IPCC) assessment, will have to divert grant funding or pay their own way for the volunteer work following the announcement from Environment and Climate Change Canada that it is “not able to commit” to fund Canadian academics’ participation in IPCC meetings. (CBC News)
VOLUNTARY
Beans with benefits – Fair Trade USA, a non-profit certifier of sustainable and ethically sourced products, has partnered with Acorn, a Rabobank initiative that connects smallholder farmers to carbon markets. The partnership aims to expand access to the carbon economy for smallholder coffee and cocoa farmers in Africa, Asia, and Latin America by generating verified carbon removal units through practices such as tree planting and soil restoration. Acorn’s model aims to direct 80% of carbon credit proceeds to farmers, supporting farmer’s ownership of their data.
Request for proposals – Voluntary registry Verra has issued a request for proposals seeking two to four pre-approved data service providers (DSPs) to develop jurisdictional activity data, forest cover benchmark maps, and allocated deforestation risk maps under its Verified Carbon Standard (VCS) methodology VM0048 and module VMD0055. These outputs seek to support the setting of baselines for projects aiming to reduce emissions from unplanned deforestation. The selected DSPs will be contracted under non-exclusive long-term agreements and share a standardised revenue model. Proposals are due by May 9, with intent to apply required by Apr. 18. Verra expects to finalise DSP selection by the end of Q2 2025.
INVESTMENT
Climate cohort – Milkywire’s Climate Transformation Fund announced Monday the members of its 2025 Advisory Board. New members included: Ugbaad Kosar, director of Environmental Justice at NGO Carbon180; Andrew D. Jacobson, professor of earth and planetary sciences at Northwestern University; Fabiano Ximenes, senior research scientist at the New South Wales Department of Primary Industries; and Carlos Hartel, an industry and investment advisor, as well as former CTO at CDR developer Climeworks. Eight other experts who served on the advisory board in 2024 also returned to this year’s cohort. After receiving over 400 applications from CDR projects for its 2025, a shortlist has been selected for further evaluation by the advisory group, the fund said.
AND FINALLY…
Oceans of opportunity – German researchers from the CDRmare research mission have developed a new framework to evaluate the feasibility and desirability of ocean-based CDR methods, aiming to support evidence-based decision-making on marine CO2 storage projects. The framework includes 29 assessment criteria covering technical, legal, economic, environmental, and ethical factors, and was tested in workshops with stakeholders from public administration and interest groups. The team emphasises that assessments should not be conducted in isolation due to the complexity involved and that decisions must account for both effectiveness and broader societal impacts. The framework is intended to guide Germany and other countries in responsibly considering ocean-based CDR options as part of climate policy.
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