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TOP STORY
“Tariffs in disguise”: EU CBAM sparking plethora of new green trade barriers
The EU’s Carbon Border Adjustment Mechanism (CBAM) is giving rise to a plethora of copycats around the world that are really meant as tariffs, according to an expert consultant who warned about “a nightmare” when it comes to implementation.
EMEA
BRIEFING: Spanish blue carbon standard advances as experts warn of greenwashing risk
A blue carbon crediting standard focused on a region in the south of Spain continues to advance as it seeks national approval, but analysis published Monday highlights the challenges facing the monitoring, reporting, and verification (MRV) of mitigation efforts.
UK CBAM to penalise new nuclear and wind, but let solar off the hook, warns utility giant
EDF, which is seeking fresh investors for the Hinkley Point C nuclear power plant in England, has warned the UK government that its planned Carbon Border Adjustment Mechanism (CBAM) will push up the cost of building new nuclear plants and wind farms.
EU emerges as rule-setter in carbon removals, as US shifts to state-led policy -report
The EU is set to shape global carbon removal (CDR) governance through its upcoming certification framework, while momentum in the US is shifting toward state-level policies amid federal uncertainty, according to a new report.
New UK seawater carbon capture and storage pilot starts operating
A pilot project to suck carbon out of the sea has started operating on the UK’s south coast.
Tanzania earning just 3% of the projected revenue from carbon trade -report
Tanzania has lost over TZS 1.2 trillion ($455 million) in potential carbon trade revenue due to inadequacies of the organisation managing carbon trading operations in the nation, according to a recently released national audit report.
AMERICAS
RGGI Market: RGAs recover 15% WoW after historic tumble
RGGI allowance (RGA) benchmark futures gained over 15% week-on-week after a historic selloff but gave back some gains Monday amidst broader macro weakness and as the focus returns to fundamentals.
US appeals court temporarily halts order to unfreeze federal climate funds
A US appeals court ruling last week means several non-profits still do not have access to their climate funds, even after a federal judge directed Citibank and the EPA to cease their “unlawful” suspension of funding.
CFTC: Investors shorten exposure to US compliance carbon markets under threat of potential federal legal action
In the wake of potential federal action to terminate state-led cap-and-trade schemes, investors reduced net length across most US compliance carbon markets, with the exception of V26 California Carbon Allowances (CCA), latest figures from the Commodity Futures Trading Commissions (CFTC) showed Friday.
INTERVIEW: The scientist who found US LNG exports to be dirtier than coal is still waiting for a substantial critique
The American scientist who grabbed headlines last year by declaring that emissions from US LNG exports are worse than coal is surprised at the lack of peer-reviewed pushback he’s received so far — with most criticism until now coming from industry representatives that don’t make their data publicly available.
Microsoft buys carbon removal credits from reforestation across US coal mining lands
Tech giant Microsoft is continuing its shopping spree, with a deal to buy 1.4 million tonnes worth of carbon removal (CDR) credits from reforestation projects in US coal mining lands, it announced on Monday.
Tech giant’s CDR headline buying masks lack of new investors, warns report
Microsoft’s splurges in buying carbon removal (CDR) credits mask a market struggling to find new buyers, according to a report published Monday.
Experts flag legal challenges for US-based marine carbon removal projects
Marine carbon removal (mCDR) projects could face major liability under US law, legal experts said last week.
Colorado considers stricter landfill methane standard
Colorado issued a proposed landfill methane regulation last week that would give the state stricter emissions rules than the current federal requirements.
North Dakota landowners take CO2 storage law to state’s highest court
A North Dakota law on CO2 storage is being challenged in the state’s highest court after it was dismissed in a lower district court last year.
Clean energy tax credits potentially offer $238 mln annual boost to Iowa -study
Clean energy tax credits are expected to deliver $238.4 million of benefits to Iowa’s economy annually out to 2032, according to a new study.
UPDATE – Louisiana lawmakers push for additional regulations on geological CO2 sequestration
Updated with additional bills introduced in state legislature
ASIA PACIFIC
Korean companies accused of investing in ‘inflated’ cookstove carbon projects amid integrity concerns
A report released Monday said South Korean companies have invested in overseas cookstove projects that could have received as much as 18 times more carbon credits than the emissions reductions they actually achieved.
Japan to subsidise energy-based JCM projects with co-benefits
Japan is seeking project proposals that can provide benefits beyond emissions reductions under the bilateral Joint Crediting Mechanism (JCM).
Veteran returns to head up Australian bank’s emissions desk
A carbon product specialist has returned to the market after over a year’s absence to take up the position as head of emissions trading at one of Australia’s big four banks.
INTERNATIONAL
INTERVIEW: Developing countries need national tools to supplement int’l climate finance
Amid huge shortfalls in international climate finance during a ‘triple crisis’ of nature, climate, and burdensome debt, developing countries must apply new models and policies to unlock domestic and private sector funding, according to the co-chair of a high-level expert review.
Climate community pays tribute to late Pope Francis
Pope Francis, who passed away on Monday, received praise for his contribution to the climate cause, with figures in the community highlighting how the Catholic Church’s ecological and humanist vision developed under his leadership.
BIODIVERSITY (FREE TO READ)
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Innovative ocean finance focus to increase, expert says
The focus on some marine financing mechanisms is set to ramp up in the next few months with pressure from key upcoming events, a blue finance expert has said.
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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.
Innovation Zero – April 29-30, London – The UK’s largest net zero congress will bring together 10,000+ delegates, 400+ speakers and 250+ exhibitors in London at the end of the month to accelerate a just, global transition to a low-carbon economy. Supported by the UK Government, Innovation Zero provides a space and opportunity for collaboration, breaking down silos, and overcoming obstacles to drive large-scale, impactful progress towards global emissions reduction. The congress will feature 13 high-level forums and theatres, including a Carbon Markets Forum that will explore the potential of voluntary carbon markets (VCMs) to unlock meaningful climate action. Register here
Sustainable1 Summit – April 30, London – S&P Global predicts $60 trillion in energy investment opportunities under global net zero investment scenarios through 2050. During this same period, there is also a projected $25 trillion in cumulative financial impact on the world’s largest companies due to changing climate exposure. Join us at the Sustainable1 Summit in London to unlock transition opportunities with specialist opinions, market outlooks, data insights, and strategic forums, providing insights to finance the energy transition, discover opportunities in climate resilience, and report your sustainability performance with confidence. Save your spot
East Africa Carbon Markets Forum – May 8-9, Kampala – Join the East Africa Carbon Markets Forum on May 8-9, 2025, in Kampala, Uganda, as project developers, policymakers, investors, and community representatives come together to shape the future of the region’s carbon markets. Centred on advancing policy, unlocking green finance, and fostering innovation, this free, high-impact event delivers curated sessions, expert insights, and meaningful networking opportunities. With attendance capped at 350 participants, EACMF2025 offers an exclusive platform for impactful connections and actionable engagement in East Africa’s sustainability efforts. Be part of the dialogue shaping tomorrow’s carbon markets. Join the conversation and learn more at www.carbonmarketsforum.com.
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
- Senior Cap-and-Invest Offsets Specialist (Environmental Specialist 5) (In-Training), Washington State Department of Ecology – Lacey
- Greenhouse Gas Emissions Analyst and Quality Assurance Specialist (Environmental Specialist 5), Washington State Department of Ecology – Lacey
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
NATO language – The NATO military alliance has amended expressions related to gender diversity and climate change in a bid to woo the Trump administration, reports Politico. Expressions like “green technologies” have been replaced with “innovative technologies,” while “climate” has been labelled an “operational environment”, said one NATO official cited by the publication. Over the past years, NATO has taken a more active role on climate-related issues, releasing a yearly Climate Change and Security Impact Assessment. Last year’s report said the alliance must contend with growing impacts of climate change, such as migration and disruptions to global supply chains. In 2024, allies reiterated the Alliance’s commitment to become “the leading international organisation for understanding and adapting to the impacts of climate change and extreme weather on security.”
EMEA
EU’s LNG appeasement strategy – The EU is considering ways to tweak its Methane Regulation to make it easier for US gas exports to comply, according to Reuters. The European Commission is working on its offer for trade negotiations with the US, and energy may pay a role in easing a new trade deal. As part of this, it is looking at ways to simplify the EU methane rules by enabling US exporters to follow “equivalent” methane rules to those of the EU, and therefore automatically comply with the EU law. This could be complicated by President Donald Trump’s plan to scrap existing US regulations requiring gas producers to report their methane emissions.
Buy more US gas – The EU’s soon-to-be published release of a roadmap for phasing out Russian fossil fuel purchases will encourage companies to buy more US LNG, European Council President Antonio Costa told Bloomberg in an interview to Bloomberg. This move could also help settle a trade deal with the US, as Trump is pushing the bloc to buy more American energy products to avoid tariffs.
Stop the LNG – The investor activism group ShareAction has launched a campaign calling on Shell to explain its plans to increase LNG production by 20-30% by 2030, despite its commitment to reach net zero emissions, the NGO announced last week. ShareAction is circulating an open letter to be signed by company directors, ahead of Shell’s AGM in May in London. Calling the oil and gas major’s plan “environmentally dangerous”, ShareAction said that along with other concerned investors, it’s asking Shell to show greater transparency and protect its shareholder value while remaining aligned with the Paris Agreement goals.
Powering up – LevertonHELM opened Europe’s largest lithium chloride production facility in southwest England last week, with the £30 mln investment increasing the firm’s production capacity to 10,000 t/yr from 3,000 t, HELM said in a press release. According to the Basingstoke Gazette, the plant is trying to source raw materials from Cornwall, reducing the embedded emissions in the product. Lithium chloride is a key component battery technology, used in both electric vehicles and electricity storage systems. Earlier this month, analysts told Carbon Pulse that Europe needs to bolster its domestic supply chain for clean tech, amid the threat of US tariffs and the potential trade war that could unfold.
ASIA PACIFIC
Very ambitious – COP30 President Andre Correa do Lago believes China is developing a “very ambitious” NDC, which will be out in the coming months, he said at a press conference last week. China, like most other nations, hasn’t submitted its NDC after the February deadline lapsed, according to Carbon Pulse’s NDC Portal. It is the largest emitter of GHGs and will permit the construction of new coal plants until at least 2027, despite a world-beating rollout of renewable power generation.
Continued effort – Japanese project developer Bywill has teamed up with the government of Oita prefecture’s Hinode town and Oita Prefecture Shinkin Bank to promote the creation and use of carbon credits, it announced Monday. The company recently also secured a similar partnership with the government of Wakayama city to expand its potential project pipeline.
Milestone – Tokyo-headquartered Green Carbon has seen initial progress for its carbon projects in Vietnam, according to a company statement released Monday. It started operating rice-focused projects in six Vietnamese provinces last year. In Nghe An, methane emissions were reduced by around 11 tonnes per hectare throughout the year, down 55% compared to conventional cultivation methods, while rice yields increased by 5.5%. Increased yields have increased farmers’ annual income per hectare by 9%, Green Carbon said. The developer plans to introduce alternate wetting and drying (AWD) to around 750,000 ha of rice paddies in Vietnam by 2030.
Paint-based method – Japanese startup Linkhola has launched what it claims to be the world’s first carbon credit project featuring the use of heat-reflecting paint, it announced Monday. Linkhola will develop a new methodology to evaluate and quantify the CO2 reduction effect of heat-reflecting paint through its crediting platform EARTHSTORY. The first voluntary credits using this methodology are set to be issued later this year.
AMERICAS
Reconsidering danger – US EPA Administrator Lee Zeldin said that the agency’s reconsideration of its 2009 GHG endangerment finding will entail a formal rulemaking process with public comment, E&E News reported Monday. The endangerment finding allowed GHGs to be regulated under the EPA’s Clean Air Act. Zeldin announced its reconsideration in March as part of EPA’s deregulatory sweep. Experts anticipate more opportunities for public engagement regarding such policy efforts in the near future.
ERW deal – US-based enhanced rock weathering (ERW) developer Eion announced Monday an insetting agreement with Perdue AgriBusiness for the sale of 3,500 CDR credits. Through this deal, Perdue grain farmers will remove the tonnage by applying olivine—a naturally abundant mineral it has optimised to weather quickly on farmland across the Mid-Atlantic. The pair said this is the first instance in which a company is deploying an ERW solution within its own supply chain to remove CO2.
Grant reset – A $59 mln University of Idaho grant was part of the climate-smart funding to agriculture programmes that the US Department of Agriculture (USDA) cancelled last week. The University’s Innovative Agriculture and Marketing Partnership project represented 201 Idaho producers from 27 Idaho counties across seven commodities that had applied for the grant, according to a press release. The University has the opportunity to resubmit a proposal by June 20, with adjustments to meet USDA’s new funding criteria. The agency said it would reimburse any eligible expenses incurred prior to Apr. 13.
Cyberattack contingency – Oregon’s Department of Environmental Quality (DEQ) has proposed to temporarily delay its Clean Fuels Program reporting deadlines to Friday, May 30 following an April cyberattack. The incident took down the programme’s reporting system, making it impossible for regulated parties to correct data and transfer credits for compliance by the Apr. 30 deadline, DEQ said. Oregon’s Environmental Quality Commission is holding a special meeting on Apr. 25 at 1300 PST (2100 GMT) to grant a temporary variance.
Trading 24/7 – The US CFTC announced Monday it was seeking public comment on the potential uses, benefits, and risks of trading on a 24/7 basis in the derivatives markets. As the commission takes a forward-looking approach to shifts in market structure, one evolving trend was the move to 24/7, 24/6, or 24/5 trading hours, the statement said. The agency is looking for public input on implications of extending the trading of the CFTC-regulated derivatives markets 24/7, including potential effects on trading, clearing, and risk management which differ from trading during current market hours. CFTC is also seeking comment on the risks of 24/7 trading, and associated clearing systems, including risks related to market integrity, customer protection, or retail trading. The agency is accepting comments until May 21.
Charging ahead – New York Governor Kathy Hochul announced a $30 mln incentive on Friday for consumers in the state to lease or purchase new electric vehicles, offering rebates for more than 60 EVs. The New York State Energy Research and Development Authority also announced on the same day incentives for installing Level 2 chargers at multifamily buildings, workplaces, and hotels. Locations in disadvantaged communities can receive $4,000 per charging port, while others can receive $2,000-3,000 per port. The initiatives are part of an almost $3 bln investment the state is making to electrify the transportation sector.
VOLUNTARY
New entities – The GHG Protocol has added five new Observing Entities to its Independent Standards Board (ISB). The organisations include CDP, EFRAG, GRI, ISSB, and SBTi, which will participate in ISB meetings in a non-voting capacity. These entities, each with frameworks based on the GHG Protocol, aim to improve alignment within the GHG accounting and reporting ecosystem. The addition of these organisations reflects a broader commitment to improving climate-related disclosures and standard-setting to support businesses in meeting ambitious climate goals, said Alexander Bassen, chair of the GHG Protocol ISB.
AND FINALLY…
On thin ice – A non-profit attempting to refreeze melting Arctic sea ice, but not everyone is convinced of its efforts, Grist reports. UK-based Real Ice has developed technology that has been shown to thicken sea ice in its initial trials by pumping ocean water on top of the existing ice layer, which boosts growth from the bottom. Their largest field test took place this past winter in the Canadian Arctic and will see results in June. Still, local opinion is divided, particularly among the indigenous Inuit community, and some researchers are sceptical of its ability to scale. A partner of the non-profit expects four more years of research before the technology can be properly recommended.
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