Guyana will for a second consecutive year tweak the share of proceeds (SOP) from carbon credits that is allocated to Amerindian communities, keeping absolute financial benefits the same, the vice president announced at an Indigenous national assembly on Tuesday.

RGGI permits held in excess of compliance requirements declined 11.4% year-on-year in 2024, according to an annual market analysis.

Entities emitting about one-tenth of Alberta’s industrial emissions risk falling outside the scope of being regulated for their CO2 output following removal of Canada's consumer-facing carbon tax, an expert said during a conference Wednesday.

The Bezos Earth Fund on Tuesday unveiled the recipients of 24 inaugural Phase I grants under its AI Grand Challenge for Climate and Nature, awarding a total of $1.2 million to support the development of artificial intelligence solutions targeting some of the world’s most urgent environmental challenges.

Not axing the tax - Quebec's Coalition Avenir Quebec government, led by Francois Legault, has rejected a Parti Quebecois (PQ) motion to cut the province’s gas tax, arguing it would undermine climate goals. Finance Minister Eric Girard called the proposed reduction "incompatible with the objectives of the fight against climate change". The PQ’s motion, introduced Tuesday, responded to both a new Leger poll showing majority support for scrapping Quebec’s carbon pricing system and to Conservative Party of Quebec leader Eric Duhaime’s campaign proposal to eliminate the carbon levy, which adds roughly C$0.10/litre to gasoline prices.

Cuts and delays - Climeworks Co-CEO Jan Wurzbacher told Bloomberg Wednesday that the DAC removal company will cut 106 jobs or 22% of staff. The Swiss firm, which operates the “Mammoth” carbon removal facility in Iceland, said last week that it may delay its Louisiana plant, citing US President Donald Trump’s rollback of climate incentives. A $50-mln US grant for the project remains active, but future phases now face uncertainty.

End of an era - Alberta-based Hempalta has completed the closure and decommissioning of its Calgary hemp processing facility as part of a strategic shift to focus solely on its growing carbon credit business, the company announced Tuesday. The wind-down triggered a technical default notice from Farm Credit Canada (FCC) due to the cessation of operations, though no monetary default has occurred. In response, Hempalta’s subsidiary has signed a binding agreement to sell its hemp and biochar processing equipment for USD $1.15 mln. A 50% deposit has been received, with closing subject to regulatory and shareholder approval. Proceeds from the sale will be used to resolve the FCC default and reduce corporate liabilities. Meanwhile, Hempalta reported strong progress in its carbon credit operations. Around 29,000 tonnes of CO2 removals from the 2024 crop year are undergoing final verification, expected to bring total verified credits to more than 44,000 tonnes. The company plans to provide 2025 projections in its second-quarter results due at the end of May. Hempalta in March announced that it was refocusing its business towards carbon credits, as its Q1 2025 financial results showed a significant drop in revenue.

A validation and verification body unveiled a new third-party certification programme for measuring GHG intensity levels and reduction levels of chemical materials, according to a Wednesday announcement.

Renewable request - A bipartisan group of 28 US lawmakers, led by Reps. Ashley Hinson (R) and Angie Craig (D), urged President Donald Trump on Tuesday to adopt timely and robust Renewable Volume Obligations (RVOs) for 2026 and future years under the Renewable Fuel Standard. In a letter, the lawmakers called for conventional biofuel RVOs of at least 15 bln gal, a 2026 biomass-based diesel RVO of 5.3 bln gal with annual increases, and a rejection of improper use of the US EPA’s small refinery exemption authority. The PA's proposed RVO rule is currently under White House review.

Toll tussle - The US Department of Transportation may begin withholding highway funding and project approvals for Manhattan starting May 28 if New York does not comply with a federal order to end its congestion pricing programme by May 21, Smart Cities Dive reported. Transportation Secretary Sean Duffy rescinded federal approval of the programme in February and warned of “serious consequences” for noncompliance.

Watt a deal - California ARB will reopen applications for its E-Bike Incentive Project on May 29, offering up to 1,000 income-eligible residents vouchers of up to $2,000 toward the purchase of a new electric bike. The programme, California's Legislature funds, aims to reduce transportation emissions and costs by promoting e-bike adoption. ARB plans to award a third round of vouchers in 2026.

Biomass backed - The Government of Ontario announced it is investing C$11.3 mln ($8.2 mln) in five projects through its Forest Biomass Program to support the forest sector in northeastern Ontario. The funding aims to help recipients modernise operations and explore new uses for wood byproducts. Hornepayne Power expects to increase regional energy production and explore on-site green hydrogen generation, while GreenFirst Forest Products plans to upgrade its biomass cogeneration plant and research alternative fuels. Circular Carbon Canada is studying the feasibility of biochar production at sawmills, and Wikwemikong Development Commission aims to advance a pellet and biocoal facility.

Benchmarks on board - General Index (GX), a UK-based commodities benchmark provider, and ATOBA Energy, a global sustainable aviation fuel (SAF) aggregator, announced a partnership to develop technology-specific SAF price benchmarks. The collaboration aims to address the aviation sector’s need for tailored pricing tools to support investment and long-term offtake agreements, the partners said.

California diesel sales in February plunged to the lowest monthly consumption going back to Feb. 2001 – the earliest records of state data, according to a report published Tuesday.

The Integrity Council for the Voluntary Carbon Market (ICVCM) has released its first report from the Continuous Improvement Work Programme (CIWP) focused on permanence, which welcomed the strong foundation of approaches to have been implemented across the market to date, but recognised that many of these have not been standardised.

Countries need to set explicit renewable energy targets under their Nationally Determined Contributions (NDCs) if countries are to decarbonise the power sector fast enough to stay on track with 1.5C, said experts on a webinar hosted by a think tank.

Microsoft has signed the “world’s largest" biochar carbon removals deal with a South American project developer, agreeing to buy 1.24 million credits over the next decade.

The impact of US tariffs on EUA prices has been minimal, according to an analyst on a webinar on Wednesday, who sees benchmark European carbon permit price rises in 2026 driven by decreases in free allocations and tighter auction volumes. 

The European Commission is prepared to delay the full rollout of the Carbon Border Adjustment Mechanism (CBAM) for Ukraine until Feb. 1, 2027, according to Ukraine’s environment ministry, though Kyiv has yet to submit a formal request, local media reported this month.

CCS for waste – The UK has issued a draft permit for the Viridor Runcorn CCS project, reported ENDS Waste & Bioenergy on Tuesday. It said the UK Environment Agency is consulting on its draft decision to issue a permit for CCS at the Runcorn Energy Recovery Facility, an incinerator in northwest England. The decision comes as development is due to enter planning this summer, the report added. Viridor agreed a statement of principles with the UK Government’s DESNZ last month. It plans to invest £500 bln to capture 900,000 tonnes of CO2 per year, or enough to offset the emissions from treating a million tonnes of waste. The project could serve as a blueprint for other CCS projects at the UK’s 50 waste-to-energy facilities and deliver up to 10% of the UK’s 2030 negative emissions target, Viridor said.

Cheaper gas – Canada’s inflation declined to a 1.7% YoY upturn in April, down from a 2.3% YoY increase in March, according to Statistics Canada. The slowdown was attributed to lower energy prices, which fell 12.7% YoY as a result of removal of the federal carbon tax on retail fuel consumption, compared to a 0.3% YoY decline in March. Gasoline costs led the decline, plummeting 18.1% YoY in April, following a 1.6% YoY decline in March. Lower crude oil prices also contributed to the decline, along with increasing supply from OPEC countries, and a dip in global oil demand faced with international trade tariff uncertainty. According to Statistics Canada, average retail gasoline prices across Canada dropped to C$1.39 per litre ($1/litre) in April from C$1.55/litre in March, while costs in Quebec City in the one province that has retained its carbon tax on fuel inched up to C$1.55/litre, nearly unchanged from March’s C$1.54/litre. Natural gas prices also contributed to cooling inflation in April, sliding 14.1% YoY, after a 6.4% gain in March.

News this week that the EU and UK had struck an initial agreement to link their emissions trading systems (ETSs) with exemptions from upcoming carbon border fees sparked a flurry of British market activity, pushing benchmark prices above £55 for the first time since 2023, but traders and analysts alike questioned the scale of the gains given officials are yet to provide a timeline or any firm details on implementation of a link-up.

The design of the EU's Carbon Border Adjustment Mechanism (CBAM) could accelerate an exodus of operations – known as carbon leakage – in the aluminium sector, a new study warned, on the eve of a key European Parliament vote on proposals to simplify the scheme.

Direct air capture (DAC) is “a necessary tool in the climate toolbox”, an Amsterdam-based developer said in a statement this week, reaffirming its focus on solid sorbent systems, integration with industrial waste heat, and curtailed renewables.

The EU’s Green Claims Directive is key to shaping demand for EU-certified carbon farming credits, experts said repeatedly during a public workshop organised by the European Commission on Tuesday.

Over 20,000 hours of suspected bottom trawling took place within the UK’s marine protected areas (MPAs) last year, despite government pledges to strengthen conservation efforts, according to a report released this week.

Taking the lead - Stockholm has set out a climate action plan for 2030, aiming to reduce emissions from energy use and transport by 80%, halve consumption-based emissions, and become fully fossil fuel free by 2040. The targets are structured around five core areas: a just and inclusive transition, fossil-free and climate-positive energy, sustainable and fossil-free transport, circular and sustainable urban development, and reduced climate impact from consumption. As well, Stockholm is implementing a carbon emissions budget, limiting its emissions to 9 mln tonnes of CO₂-equivalent between 2024 and 2040.

Birds eye view - Climate market intelligence provider cCarbon has launched the Carbon Removals and Offsets Monitor (CROM), a new open access platform aiming to improve transparency around carbon removals. The beta version of CROM offers a thorough view of removals and offset activity for free, by aggregating and analysing data from sources like registries and public announcements. It tracks purchases and key trends across both engineered and nature-based solutions, and is designed for market stakeholders including investors and developers. It offers granular insight on buyers, suppliers, project types, and volume, the release states.

More data please - ClimeFi has begun a new data partnership with Crystaltrade, which is a product powered by Crystalchain, a dMRV platform for carbon removals. The partnership will enable ClimeFi to gain access to insights into CrystalTrade’s dMRV data to help inform its project ratings and risk management models. The ratings and risk management provider intends to further grow its network of data providers in future, the release said.

Verra’s new methodology for crediting avoided deforestation REDD+ projects will slash issuance levels and create a minimum floor price of $15/tonne, but the current value of units is still too low to incentivise many project developers to take the risk, according to new analysis.

Green public procurement – Europe must “Buy Better to Build Better”, announced a new coalition on green public procurement launched at the European Parliament on Wednesday. The BBBB brings together 35 stakeholders from industry, business associations, public authorities and civil society to push for green public procurement to drive sustainable construction. Public purchasing power represents 15% of EU GDP, but more than half of EU public contracts are awarded based solely on the lowest price. Public procurement is responsible for at least 11% of the EU’s total GHG emissions.

An Australian environmental markets administrator on Thursday launched a new biodiversity market aimed at protecting and restoring landscapes in Queensland’s Wet Tropics region that are home to the cassowary.

The EU’s Emissions Trading System (ETS) is facing a period of uncertainty, as pressure mounts ahead of a revision next year to align with the bloc's upcoming 2040 climate goal, and calls grow lounder for integrating international credits into the scheme, according to a report published Wednesday.

An Australian mining billionaire would like to see the fuel excise that benefits his company scrapped or at least redirected to force companies that enjoy its discounts to spend the same on green energy and decarbonisation development.

A popular Kenyan mobile money system is being applied to the voluntary carbon market (VCM), lowering costs for micro-scale projects and funnelling revenues to local communities, as per a presentation at the Kenya Carbon Markets Conference in Nairobi on Tuesday.

A Tokyo-headquartered software company has launched a carbon accounting service that uses AI to help calculate clients' GHG emissions, it announced Wednesday.

Belem bookings - Brazil has hired the accommodation management company Bnetwork to provide an official booking platform for November's COP30 summit in Belem, the summit presidency announced on Tuesday. Bnetwork has already managed accommodation bookings at the past two COPs, in Baku and Dubai. The platform will consolidate the available rooms in hotels and private properties into one digital platform — which in Belem will also include hotel boats. The presidency did not say when the service will launch, but only that it depends on when Bnetwork, the local governments, and the local tourism sector can finish compiling an inventory of Belem's lodging capacity. The Brazilian government has said in the past that it will charter cruise ships to accommodate the tens of thousands of delegates expected to descend on the small Amazonian city.

A research initiative between academics, and companies in the chemicals and oil & gas business has started measuring emissions from hydrogen infrastructure in North America and Europe, in an effort to fill a gap in empirical data in a growing international market, the group announced on Wednesday.

Renewable cash for communities - The UK government is proposing new requirements for energy developers to provide cash to coastal and rural communities that neighbour their onshore and offshore wind and solar farms, to be spent on local priorities and services such as community centres, better transport links, and apprentice and employment programmes, it announced on Wednesday. The proposals would enable communities to take a stake in renewable energy infrastructure through shared ownership, resulting in profits being reinvested into the local areas. The sums could range from tens of thousands of pounds a year for small developments, to millions per year for large-scale projects.  

European carbon allowance prices struggled for direction on Wednesday as traders noted a gradual return to gas market correlation, with the TTF market climbing higher over the morning then easing back across the afternoon, a move mirrored by EUAs, while investment funds increased their collective net long position for a third consecutive week, driven by a sharp cut in total shorts.

An electric bicycles mitigation activity, forming part of a wider Article 6 carbon trade agreement, has been fully authorised by Switzerland and Ghana, confirming Carbon Pulse reporting from earlier in May.

Milky credits - India needs to develop models to ensure dairy farmers receive direct benefits from carbon credits by reducing emissions in the sector, Union Home and Cooperation Minister Amit Shah said on Tuesday. Shah called for integrating carbon markets into rural economies, emphasising the role of cow dung management and biogas as viable pathways. He said cooperatives should take the lead in delivering emissions reductions through activities like waste utilisation, disease control, and decentralised energy systems. The National Dairy Development Board’s cow dung and biogas initiatives will be scaled up nationwide, he added, as part of a broader push to make India’s dairy sector sustainable.

Onshoring emissions - Inpex, Nippon Steel, and Kanto Gas have entered a consignment contract with government body the Japan Organisation for Metals and Energy Security (JOGMEC) to study engineerind and design related to the potential capture of post-combustion emissions from a Nippon-owned steelworks in wider Tokyo, alongside emissions from other facilities, before piping the CO2 offshore to a saline aquifer off the east coast of the Boso Peninsula.

Uncovered - An investigation by Mongabay has revealed that the Republic of Congo has granted nearly 80 gold mining and exploration permits in areas covered by projects under the Reducing Emissions from Deforestation and forest Degradation (REDD+) framework, driving deforestation and negatively impacting local communities. Mongabay Africa staff writer Elodie Toto interviewed a local resident who reported now having to walk 20 km to find food and water due to the devastation caused. Toto said that a REDD+ project developer seemed aware of the situation and appeared to justify the mining, saying "we can’t just save our forest and expect some [money] from it; we are a developing country, and to develop a country, one needs money". The country has been protecting about half of its lush rainforests via the REDD+ framework.

Replacing Verra – Estonia-based climate tech startup Carbontribe Labs has received certification from verification body Earthood for its methodologies on afforestation, mangroves, and regenerative agriculture, making it the first company globally to achieve that for a fully digital environmental value asset generation framework, it said in a statement Wednesday. More than 90% of the credits generated using these methodologies, to be called “Verified Impact Assets”, will be automated by AI and can be used by companies to meet their Scope 3 emissions. The company said it has already conducted demonstration projects in Japan and overseas and aims to establish an “international standard for the post-Verra era”.

Doing it right - Japanese developer Green Carbon has signed an MoU with Vietnam National University and Hanoi Business School to conduct research on improving rice quality through the introduction of alternate wetting and drying (AWD) methodology for rice cultivation. Other than the known effects of AWD such as GHG emissions reductions and yield improvement, the partnership will aim to scientifically clarify how AWD affects the quality of rice. To start with, the partners will target fields in Nghe An province, where Green Carbon has already introduced AWD. In the past year, the developer has signed agreement with 22 provinces in Vietnam for methane reduction projects from rice cultivation.

Always a first – Japanese developer ByWill has signed an agreement with Toho Bank and Miharu Town in Fukushima prefecture for the creation and distribution of J-Credits, it announced Wednesday. The partners will start by generating credits through the introduction of LED and solar power generation equipment. ByWill aims to achieve carbon neutrality in all 47 prefectures of Japan, and this is the first time it signs an agreement with a local government in Fukushima Prefecture, it added.

The European Commission is looking at EU hydrogen infrastructure rules adopted last year as a potential template for its upcoming CO2 transport and storage regulatory package expected in 2026, an official has said.

The Australia-Pacific bid to host COP31 next year is looking more and more likely to win out over rival Turkiye, according to observers, thanks to a stronger reputational standing and the chance to shift the annual UN summit out of the Northern Hemisphere for the first time in a decade, but Turkiye is not ceding ground just yet.

Fuel tax - Cyprus will implement a reduced carbon tax on fuel starting from June after the European Commission rejected demands that it be postponed. The tax will increase fuel prices by 3-4 cents per liter, rather than the 6-8 cents initially set out, following negotiations with EU officials. The Commission responded positively to the country's request to halve the tax, even though previously it was reported that suspending the tax's implementation would result in the loss of €50-60 mln from the Recovery Fund. Cyprus's Ministry of Finance is now preparing legislation to impose the reduced carbon tax for 18 months, with the bill to be submitted to Parliament in June. When EU ETS2 is implemented in 2027, Cyprus will be able to deduct the green tax paid during 2025-26, resulting in a net price increase of about 10-12 cents per liter in 2027, in-cyprus reported. Compensatory measures will be made available for vulnerable groups and vehicle replacement schemes by the government.

Australia-based non-profit Accounting for Nature (AFN) announced on Wednesday the establishment of an independent committee to oversee its biodiversity credit scheme.

The European Commission rebuffed Russia’s challenge against the EU’s Carbon Border Adjustment Mechanism (CBAM), filed on Tuesday at the World Trade Organization (WTO).

BlueGrace Bolivia - The Bluegrace Amazon Carbon Token (BGACT) backs 1 tonne of carbon captured across 20.5 mln acres of protected Amazon rainforest and offers an institutional-grade financial instrument in line with the UK vision for trusted voluntary carbon markets, Fox59 reports. The BGACT is the world's first ISIN-certified, blockchain-tokenized voluntary carbon credit, and aligns with standards including MiCA (EU), CFTC (US), and VARA (Dubai) compliance. BlueGrace Energy Bolivia developed BGACT, offering a blueprint for the trustworthy and compliance-backed carbon market the UK envisions. BGACT's structure claims to deliver auditable carbon sequestration, ESG-compliant asset credentials, and compatibility with ESG-linked loans and sustainable portfolios.

Debate over the use of carbon credits has erupted in Australia once more, in the wake of EnergyAustralia's recent legal settlement with an NGO and the ensuing reaction by the industry and activists.

The International Energy Agency (IEA) on Wednesday released an updated critical minerals report, saying there are potential supply crunches for the majority of minerals needed for a clean energy transition.

Last year saw a record surge in global forest loss, with fires overtaking agriculture as the main driver of tropical primary forest destruction, being responsible for nearly 50% of the total loss, according to a study published Wednesday.

Made-in-Canada renewable fuel mandates - brought upon by a provincial government in response to US trade war pressure - have encouraged domestic production, as the industry pushes other governments to follow suit, a conference heard Tuesday.

Build at home - Australia has granted A$46 mln ($30.5 mln) to solar firm 5B to boost manufacturing at its Adelaide plant, the government said on Wednesday, marking the first funding under its A$1 bln Solar Sunshot scheme, part of the Future Made in Australia initiative. The funding includes A$26 mln in production credits and a A$20 mln capital grant to scale up deployment of 5B’s prefabricated Maverick solar units. The facility aims to produce enough panels to power 40,000 homes over three years. Meanwhile, experts and analysts cast doubt on the Labor government’s ability to meet even modest renewable energy targets after it won the elections earlier this month.

Market expectations for California-Quebec’s Q2 allowance sale clear were toned down as a result of the overhang of potential federal legal action and prolonged programme extension negotiations with state lawmakers.

A New Mexico agency this month published a draft proposal for its clean transportation fuel programme, advancing the state’s efforts to establish its Clean Transportation Fuel Standard (CTFS).

Home batteries - Australia's Clean Energy Regulator (CER) said Wednesday it will administer the government's election promise to underwrite small-scale battery systems for households and small businesses. The CER  noted implementation of the Cheaper Home Batteries Program would be administered under the existing Small-scale Renewable Energy Scheme. However, it noted implementation of the programme will require amendments to the Renewable Energy (Electricity) Regulations 2001.

During a closed-door event in the first Climate Week in Panama City, Honduras announced it is joining the Powering Past Coal Alliance (PPCA), becoming the 10th Latin American country to commit to building no new coal power plants.