**NOTICE: To mark Carbon Pulse’s 10-year anniversary and to better serve our subscribers with more targeted content, we are expanding and segmenting our news and intelligence into three specialised products. Read our FAQs to help you understand and prepare for our new offering.**
Presenting CP Daily, Carbon Pulse’s free newsletter. It’s a daily summary of our news plus bite-sized updates from around the world. Sign up here
TOP STORY
US Senate votes to kill California’s EV mandate
The US Senate voted Thursday morning to revoke three waivers the EPA granted to California that allowed the state to set stricter vehicle emissions standards, including one that blocks California’s ability to phase out gas-powered cars and require EV sales.
AMERICAS
Oregon lawmakers reconsider ETS proposal with linkage in mind
Oregon Democrat legislators on Thursday reintroduced talks to establish a cap-and-trade scheme that would replace the Climate Protection Program (CPP) and eventually link with similar markets along the West Coast.
Peruvian court rules in favour of Indigenous community’s land rights, raising stakes for large REDD project
A Peruvian court has ordered the country’s government to define the boundaries of Kichwa ancestral lands located within two state-designated protected natural areas (PNAs), sources told Carbon Pulse, a move that could have potential repercussions for one of the largest REDD projects in the world facing a similar lawsuit.
World’s largest soil carbon project in trouble as credit prices crash
Credit prices from the world’s largest soil carbon project have crashed, a Maasai leader representing the community of Northern Rangelands Trust told an event in Nairobi, as he lashed out at the media for negative coverage.
Microsoft signs long-term deal for up to 623K tonnes of low-carbon cement
A Boston-area startup will supply up to 622,500 tonnes of low-carbon cement over nine years under a long-term deal with Microsoft, the company announced Wednesday.
Microsoft, carbon management firm release criteria for EACs to decarbonise the built environment
Microsoft and a US-based carbon management firm released a new guide to high-quality environmental attribute certificates (EACs) in the concrete and steel sectors, seeking to reduce the tech giant’s Scope 3 emissions.
Brazil’s Senate approves bill easing environmental licensing
The Brazilian Senate passed a bill on Wednesday that facilitates the process of getting an environmental licence in the country, potentially paving the way for a rollback of more than 40 years of national environmental law.
INTERVIEW: Brazil’s tropical forest facility seeks to change deforestation economics
An initiative led by Brazil aims to develop a first-of-its-kind financial structure that funnels billions of dollars into the fight against deforestation, with a focus on local people.
BRIEFING: Some positive signs remain in US CDR landscape dampened by Trump -stakeholders
The administration of US President Donald Trump dampens prospects for the country’s carbon removal (CDR) market, but some positive signs remain intact despite the federal rollback of wider climate efforts of prior governments, stakeholders said this week at a conference in New York City.
US carbon tariff would increase domestic production, but bring limited climate gains -report
A proposed US carbon tariff policy would boost domestic production of covered products and generate billions in revenue, but have limited effects on global GHG emissions, according to a new report.
Maryland governor blocks climate impact studies, passes wide-ranging energy bills
Maryland Governor Wes Moore (D) vetoed bills that would use state funding to study the cost of GHG emissions, before passing two energy packages aimed at lessening the burden of electricity costs on consumers.
British Columbia firms reach deal towards sale of 300k CDR credits annually
A company specialised in CO2 storage and a carbon credit platform – both based in British Columbia – announced Thursday a broad deal for the sale of some 300,000 carbon removal (CDR) credits annually.
WCI Markets: Tempered Q2 auction expectations hold CCAs within narrow range
California Carbon Allowances (CCAs) traded within a narrow range into the second quarterly permit sale this week as the risk of federal legal action against the programme remains while trade in Washington Carbon Allowances (WCAs) activity was limited.
North American Clean Fuels Markets: LCFS credit prices drop nearly 10% absent programme implementation clarity
California’s Low Carbon Fuel Standard (LCFS) credit values declined in the absence of certainty on implementation of proposed programme changes, while other US clean fuel schemes largely stabilised throughout May following regulatory and legislative actions in Oregon and Washington.
EMEA
Analysts revise EU ETS2 price outlook with huge surge in cleantech needed to meet climate goals
Meeting decarbonisation targets under the EU’s upcoming Emissions Trading Scheme for road transport and heating fuels (ETS2) will require ramping up electric vehicles and heat pumps up to 10 times, according to new market projections unveiled on Thursday, with some analysts revising their price outlook higher amid a slower-than-expected decarbonisation progress in the two sectors.
EU’s top court rejects Swedish miner’s appeal in ETS benchmark challenge
The EU’s top court on Thursday upheld a European Commission decision denying a Swedish miner a more generous carbon allowance allocation under the bloc’s ETS, ruling that iron ore pellets are not direct substitutes for sintered ore within the scheme.
INTERVIEW: UK to propose a carbon regulator to standardise growing, disparate emissions counting practices
The more companies worldwide track and report their emissions, the more disparate the information and methodologies are becoming — fuelling the need for a UK carbon regulator to set professional standards and ensure the data is consistent and coherent, according to an influential research body.
Euro Markets: EUAs ease further on technical selling, gas, as UKAs fall back over 3%
European carbon allowance prices eased for a second successive session on Thursday, tracking gas lower as sources again highlighted a returning correlation to the TTF as well as a relatively calm market in the wake of several bumpy months, while UKAs slipped 3%, shedding some of the gains made since a UK-EU ETS linking announcement on Monday.
EU leans towards allowing offsets in Green Claims, without limits to residual emissions -sources
EU co-legislators broadly agree not to limit carbon offsetting to residual emissions in the Green Claims Directive, but to instead allow companies to offset while simultaneously reducing emissions, sources close to the file have told Carbon Pulse.
Brussels names 44 oil and gas companies for EU CO2 storage obligation
The European Commission on Wednesday evening published key details of draft legislation for oil and gas producers who are legally obliged to contribute to an EU-wide target of CO2 storage capacity under the bloc’s Net Zero Industry Act (NZIA), naming 44 of them as falling under the obligation.
EU introduces country-based benchmarks against deforestation
The European Commission has published a benchmarking system that will accompany the EU’s anti-deforestation regulation, classifying countries according to their ‘level of risk’.
EU Parliament in favour of cutting Russian energy ties by 2027
The European Parliament has endorsed the European Commission’s plan to completely phase out Russian energy imports by 2027, with most MEPs supporting the plan and only a few criticising the potential economic implications.
CBAM simplification law sails through European Parliament vote
The European Parliament on Thursday voted overwhelmingly in support of simplifying the EU’s Carbon Border Adjustment Mechanism (CBAM), paving the way for talks with EU member states to finalise the law before the summer.
South Africa progresses on renewables, amid fossil fuels push, analysts find
The South African government is reforming the power sector by boosting renewables deployment, but with the continued expansion of fossil fuels and delay in coal phaseout plans, the country’s climate targets may be in jeopardy, an analysis has found.
UK-based carbon removal platforms offers upfront cash from offtake agreements
A UK-based carbon removals platform has launched a new product to turn long-term offtake agreements into immediate upfront cash, rather than use venture capital.
UK consultancy pressures suppliers to set goals, as indirect emissions doubled
A London-headquartered climate consultancy will require its suppliers and partners to commit to science-based emissions reduction targets, after its own indirect emissions more than doubled between 2018 and 2024, it said this week.
ASIA PACIFIC
Australian reforms to landfill gas method small but impactful -analysis
The proposed reforms to the landfill gas method could boost Australian Carbon Credit Unit (ACCU) volumes, but may fail to address structural supply issues in the market, according to analysis published Thursday.
Australian soil carbon projects opt for shorter permanence periods, new regulator data shows
Analysis published by the Clean Energy Regulator this week shows soil carbon projects are opting for shorter permanence periods and deferring their crediting periods.
New Zealand budget slashes funding for construction of voluntary carbon market
New Zealand released its 2025 national budget Thursday, cutting annual funding for building a domestic voluntary carbon market by 35% while allocating NZ$200 million ($118.6 mln) for natural gas development amid a steep decline in domestic supply in recent years.
Japan, partners launch regional blue carbon initiative to maximise regional potential
A blue carbon initiative funded by the government of Japan, implemented by the UN Development Programme (UNDP) Indonesia, and backed by the ASEAN Secretariat Coordinating Task Force on Blue Economy was launched this week in Jakarta, with an aim to unlock regional climate finance.
Popular Asian mangrove project hit by carbon ratings agency downgrade
One of the premium projects, in terms of credit price value, in the voluntary carbon market has been downgraded by a ratings agency.
ERW startup secures $12 mln seed funding to scale in India
An enhanced rock weathering (ERW) startup this week announced it has raised $12 million in seed funding to accelerate CO2 removal from Indian agriculture.
VOLUNTARY
Food and beverage giant delays net zero goal to 2050, citing challenging reality
A food and beverage multinational has pushed back its goal for net zero emissions across its value chain to 2050, from 2040, in response to the “realities” of systemic barriers such as lacking power grids and electric vehicle charging infrastructure, it announced on Thursday.
BRIEFING: Coalition of organisations clarifies insetting principles, calls for SBTi updates
A group of organisations this week issued six principles for land sector insetting, calling for more recognition in existing climate frameworks such as the Science-Based Targets initiative (SBTi).
BRIEFING: Standardise offtake agreements to help scale CDR, experts say
Standardisation of offtake agreements for carbon removal (CDR) projects would help scale the emerging market faster, experts said this week at a conference in New York City.
INTERVIEW: ‘Green glue’, CCS to boost fortunes of pulp and lumber firm
Going low-carbon is set to transform the fortunes of one of the world’s largest pulp and lumber companies as it embarks on a pioneering ‘green glue’, as well as a bioenergy with carbon capture and storage (BECCS) plant, the CEO told Carbon Pulse.
INTERNATIONAL
Last year’s LNG trade growth poised to continue, but geopolitical risks rising too, report finds
The liquefied natural gas (LNG) market looks set to continue on last year’s growth, as LNG infrastructure expands and the number of participants increase — but the sector also faces geopolitical risk, despite some governments saying it can help to reduce emissions and enhance energy security, a report has found.
SHIPPING
BRIEFING: China may replicate solar and battery success with green shipping fuels growth -expert
There are indications that China is ramping up its capacity to produce green, synthetic fuels for shipping, with potential for it to scale the market for e-methanol and ammonia much like it did with solar and battery production, said an expert on a briefing Thursday.
BIODIVERSITY (FREE TO READ)
All our nature and biodiversity articles remain free to read (no subscription required). However, we now require that all readers have a Carbon Pulse login to access this content in full. To get a login, sign up for a free trial of our news. If you’ve already had a trial, then you already have a login.
Federated Hermes to close biodiversity fund
US-headquartered asset manager Federated Hermes will close its biodiversity fund next month following the withdrawal of a shareholder.
Argentine province launches ‘first-of-its-kind’ jaguar protection insurance
The local government of Misiones, Argentina, has launched an insurance policy aimed at protecting jaguars while safeguarding livestock producers across the province, in an initiative claimed to be the first of its kind in the world.
Biodiversity markets need blended finance at scale -ADB, WWF
Blended finance needs to scale fast or biodiversity goals risk collapse, panellists warned at an event in Bangkok on Thursday, as the Asia Pacific struggles to build an investor ready nature project pipeline.
Belgium encourages biodiversity credit development under national plan
Belgium has released an updated National Biodiversity Strategy and Action Plan (NBSAP), encouraging the development of biodiversity credit markets to meet targets, but cautioning against the misuse of offsetting.
Biodiversity metrics lack applicability in investment portfolios -report
Efforts to integrate biodiversity into financial decision-making are faltering due to unreliable data, inconsistent metrics, and a lack of ecological grounding, according to research.
Biodiversity experts call for Canadian natural asset accounting standards
Biodiversity and nature capital experts are calling on Canada to provide tools for government and corporations to get nature on their balance sheets.
Canadian developer plans carbon-plus biodiversity credits
A Canadian developer of nature-based agricultural solutions is gearing up to create its first verified carbon offset credits — framing carbon sequestration as just one small piece of the credits’ larger benefits, which aim to prevent biodiversity loss and preserve ecosystems.
INTERVIEW: More ownership rights clarity needed to shape biodiversity markets
Biodiversity credits must address ownership rights as a first step to be defined as high integrity, especially when it comes to marine environments, an expert told Carbon Pulse.
Kyrgyzstan announces major ecological corridor
Kyrgyzstan has announced the establishment of a new ecological corridor spanning 800,000 hectares – the largest protected area of its kind in the country as a measure to help snow leopards and their food chain adapt better to climate change.
Biodiversity Pulse: Thursday May 22, 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).
COMMENT
Demystifying the Link between Article 6 and the Voluntary Carbon Market
A key takeaway from recent discussions on the link between Article 6 and the VCM is the persistent confusion surrounding Corresponding Adjustments (CAs), particularly regarding project eligibility, conditional NDCs, and the limited supply of CAs, with concerns emerging over pricing distortions, voluntary buyer behaviour, and the need for clearer frameworks to ensure environmental integrity and mobilise finance at scale.
—————————————————
**NOTICE: To mark Carbon Pulse’s 10-year anniversary and to better serve our subscribers with more targeted content, we are expanding and segmenting our news and intelligence into three specialised products. Read our FAQs to help you understand and prepare for our new offering.**
—————————————————
EVENTS
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
Eurelectric Power Summit: June 3-4, Brussels – Rising cybersecurity threats, procurement issues, and escalating geopolitical tensions are testing the resilience of Europe’s energy sector. Transport, big tech, and industry are raising new demands: from lower electricity prices and more competitive contracts for industrials to exponentially higher electricity demand from data centres and AI. Meanwhile, the energy price crisis caused the average energy consumer to be increasingly sceptical of the power sector and Europe’s energy transition. Join the most influential policymakers and industry leaders in Europe at Eurelectric’s Power Summit to make sense of these megatrends. Register here
Climate Action for People and Nature (Gold Standard): June 5-6, Paris – Join climate leaders, policy makers, innovators, and corporate trailblazers committed to bridging the gap to net zero. This two-day event offers practical insights and tools to help your organisation navigate evolving climate targets, carbon markets, environmental attribute certificates (EACs), and other impact-driven mechanisms. Don’t miss the chance to network, learn, and lead credible climate action that drives real impact for both people and planet. Purchase your ticket today
—————————————————
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.
—————————————————
BITE-SIZED UPDATES FROM AROUND THE WORLD
NOTICE: Our bite-sized updates are to no longer appear in the CP Daily newsletter. They will be relocated to the new CP Daily News Ticker that will be launched on the Carbon Pulse website in the coming days. The CP Daily News Ticker will act as a ‘live blog’, also featuring all Carbon Pulse news and analysis published that day, appearing in real time. A link to the Ticker will appear in our daily newsletters. It will remain free to read for Carbon Pulse non-subscribers, but it will eventually be migrated to paid access only.
EMEA
Urban removals – The Centre for Science and Technology Innovations (CSTI), a research organisation and a registered scientific trust in Kenya, has joined the City CDR Initiative as a supporting partner to scale CO2 removal activities, the initiative announced in a LinkedIn post. CSTI will bring its expertise around biochar even as the partnership as a whole will seek to investigate biochar-focused urban CDR pathways to address embodied carbon. CSTI will also help examine the African Cities Carbon Removal Hub as a template for regionally clustered capacity building under the next phase of the City CDR Initiative, the statement added.
Rising voices – Concerns over the impacts of forest carbon offset projects have been raised by a group of indigenous leaders from Brazil, Indonesia, and Malaysia, who visited the UK Parliament last week to call for stronger forest protection. In meetings with MPs from the All-Party Parliamentary Group on Global Deforestation and UK civil servants, the delegation called for direct funding to local communities, legal recognition of Indigenous territories, and more ambitious UK legislation to tackle deforestation. They warned that forest carbon projects often bypass communities and enable land grabs by the same companies driving deforestation. A key message was for the UK to deliver on its promises for forests, people, and climate, following the government’s announcement to cut the international development budget to 0.3% of Gross National Income (GNI).
Green H2 imports – Germany and the Netherlands will launch a joint tender this year via the H2Global Platform for the import of renewable hydrogen to northwest Europe, Dutch climate and green growth minister Sophie Hermans told a World Hydrogen Summit in Rotterdam on Wednesday. Producers of “sustainable” hydrogen worldwide can register for the tender. Germany and the Netherlands are each making €300 mln available for it. Germany created the H2Global public-private partnership in 2021 to promote hydrogen imports. The Netherlands is signing on to realise its renewable hydrogen import ambitions.
German financial fears – The €100 bln that has been set aside in Germany for climate action by the new government may end up financing regular budget items rather than additional low-carbon investments, warned two trade associations on Wednesday. The BDEW and VKU, which represent the energy and water industry, and local utilities respectively, cited new information from the Federal Ministry of Finance. The special infrastructure fund should not be used to fund existing spend, nor subsidise electricity prices, they argued. Rather, it should be used for investments in power plants, heating networks, hydrogen ramp-up and digitalisation. “Of course, the budget will be short of revenue if the state lowers the electricity tax. But this relief must come from the regular budget, not from the KTF [special fund],” said Ingbert Liebing, VKU’s general manager.
EU and LNG – The EU’s reliance on spot LNG is likely to continue without stronger decarbonisation, warned European energy regulators on Thursday. ACER’s 2025 monitoring report found that LNG’s share of total EU gas supply rose to 40% in 2024, from 23% in 2020. It remained the world’s largest LNG importer with 112 bcm, despite a 17% drop compared to 2023. The US supplied nearly 50% of EU LNG imports, while Russian LNG imports increased by 22% despite sanctions. Over 550 EU spot LNG trades were reported to ACER, totalling 45.5 bcm, 55% of which were priced below €35/MWh. The EU bought 30 bcm of LNG on the spot market, more than any other major importer. It could need an additional 30 bcm of LNG by 2030. As Europe moves away from Russian fossil fuels, ACER recommends faster decarbonisation through renewables and efficiency to reduce structural gas demand.
Big Spanish solar – TotalEnergies has inaugurated its largest cluster of solar power plants, near Seville, Spain, the French company announced on Thursday. The plant consists of five solar projects with a combined installed capacity of 263 MW, and is expected to produce 515 GWh per year. In so doing, it will avoid 245,000 tonnes of CO2 emissions per year, Total said. Most of the power will be sold through long-term purchase agreements, and the rest on the wholesale market.
ASIA PACIFIC
Energy expansion – AGL Energy-invested Kaluza has bought energy software company Beige Technologies which doubles its Asia Pacific team, Kaluza announced. Australian energy giant AGL spent A$150 mln ($96.50 mln) to take a 20% stake in 2024. Beige’s software can deliver customer quotes for solar, battery and grid within two minutes, a task that can take days with legacy systems, Kaluza said. Kaluza services the commercial and industrial sector, rather than household energy users.
Let it flow – Singapore’s VFlowTech has raised $20.5 mln to develop its batteries, with investment led by Granite Asia and new investors Antares Ventures, EDBI, MOL PLUS and PSA Ventures, they announced. VFlow’s AI platform allows customers to optimise their energy use, trade energy, and improve energy storage systems, it said. VFlow plans to scale manufacturing of its vanadium redox flow batteries, develop vanadium recycling to improve supply chains, and strengthen its AI-driven energy management platform. Vanadium batteries are an alternative to lithium-ion and can operate in higher temperatures. The new investors join Holding, UntroD Capital, Pappas Capital, Wavemaker Partners, SEEDS Capital, and Entrepreneurs First.
Carrots – China’s CATL will reward suppliers who cut emissions as the battery giant aims to achieve carbon neutrality across its supply chain by 2035, according to its latest sustainability report. Scope 3 emissions, from upstream suppliers, constituted 95% of its total 118.3 MtCO2e in 2024. The company, which supplies EV batteries to major car makers across the globe, listed its shares on the Hong Kong Exchange this week in a blockbuster IPO.
Tubestock rising -Australian state Victoria has expanded Wadawurrung Traditional Owners Aboriginal Corporation’s native plant nursery, thanks to a A$500,000 ($322,000) grant, it announced. The funding has supported a native plant nursery with a new greenhouse, polytunnel, shade house, and has increase its tubestocks to 80,000 from 4,000. The funding was sourced from the state government’s A$31 mln BushBank programme, an initiative to support private landholders restore 20,000 ha of land, assist biodiversity efforts and support threatened species.
Cashback – Australian climate tech firm Sphere has partnered with DCS Card Centre to allow Singaporean credit card users to convert rewards into carbon offsets and biodiversity investments from June. The programme enables Visa Platinum cardholders to use up to 8% of spend on accredited environmental projects via a linked app. The launch follows Sphere’s carbon action tech rollouts with banks in Vietnam and Malaysia and comes as the company seeks new funding. Sphere is also working with merchants and financial platforms across APAC to integrate automated emissions tracking.
Saving time and money – Gprnt, launched by the Monetary Authority of Singapore (MAS) and backed by the Global Finance and Technology Network (GFTN), has announced the launch of the world’s first nationwide utility which will enable companies to automatically generate their basic sustainability metrics. This will let companies in Singapore retrieve their utilities data, including water, town gas, and electricity consumption values, and convert it into basic sustainability metrics, such as Scope 1 and 2 emissions values, on the Gprnt platform within minutes and without cost. Gprnt also announced the completion of a seed funding round, under which it has raised $4.62 mln, to be used to strengthen its digital infrastructure, enhance AI capabilities, and accelerate the onboarding of partners in Singapore and across the region.
Lifeline for dying field – Timor-Leste is mulling pulling the last gas from the Santos-operated Bayu Undan gas field that straddles its and Australia’s jurisdictions and has been the main source of revenue for the young new country for years. The oil company produces small volumes of gas for the Australian domestic market after finishing LNG production. It plans to transition the field to a CCS hub, sending CO2 from its Barossa gas field to the depleted reservoirs for permanent sequestration. However, Upstream reports the Timor-Leste government is planning to redevelop the field and build a new pipeline that would head to the south coast, hitting other gas fields on the way. The south coast is where Dili has long hoped to build an LNG export facility for the Greater Sunrise gas field.
AMERICAS
Tax bill triumph – US President Donald Trump’s “big, beautiful” tax bill skimmed passed the US House of Representatives on Thursday, with a final vote tally of 215-214. The bill included amendments such as early termination of clean electricity and energy storage tax credits under Sections 45Y and 48E, repeal of credit transferability provisions, and new restrictions on solar and wind leasing arrangements. The amendments also introduced an expedited permitting process for natural gas infrastructure under the Natural Gas Act. Additional provisions overrode the 2024-29 Outer Continental Shelf Oil and Gas Leasing Program and appropriates $100 mln to review regulations from agencies including the EPA and the DOE. The bill has yet to pass the US Senate.
CO2 case curtailed – The 5th US Circuit Court of Appeals dismissed a lawsuit on Wednesday by environmental groups seeking to overturn the US EPA’s decision to grant Louisiana oversight of CO2 injection wells, E&E News reported. The court ruled the groups lacked standing, with Judge Andrew Oldham stating their claims were too speculative. Judge Kurt Engelhardt joined the opinion, while Judge James Graves concurred in the outcome but said the majority applied a stricter standing standard than the Supreme Court requires.
Federal overreach – The US Government Accountability Office on Thursday said the Department of Transportation’s action to suspend funding for the National Electric Vehicle Infrastructure (NEVI) Formula Program in February violated federal law by delaying expenditures for the programme. Although the DOT cannot withhold funds under the Impoundment Control Act (ICA), the agency can propose funds for rescission or push for legislation to make changes to programme for consideration by Congress, said GAO. Opposition against climate measures in the US has gained momentum since President Donald Trump took office. On Thursday, the US Senate voted 51-44 to deny California the authority to set its own emissions standard, revoking three waivers that aimed to ramp up EV adoption in the state.
Protections passed – Illinois lawmakers passed Senate Bill 1723 (SB 1723) on May 20 through both Houses of the state legislature. The bill, which previously passed the State Senate 55-0 with bipartisan support, prohibits CO2 sequestration activities that overlie, underlie, or pass through single-source aquifers or primary sources of drinking water. The bill includes provisions specific to the Mahomet Aquifer, where a 2024 CO2 leak led to a federal violation notice against multinational agribusiness Archer-Daniels-Midland. The bill also established the Mahomet Aquifer Advisory Study Commission, tasked with assessing safety protocols of carbon capture and storage in the region.
Climate action de(Prime)nt – Amazon investors rejected the three shareholder resolutions meant to address climate change impacts from the company. The proposals failed to get sufficient votes to be enacted, and included resolutions to require additional reporting on overall climate emissions from Amazon, addressing the climate impact of data centres, and calling for further disclosure about packing materials for the retail giant. The company deemed its existing climate disclosures as sufficient, Reuters reported.
Trump’s CAFE – The Trump administration announced Thursday that it has rewritten the Corporate Average Fuel Economy (CAFE) rules to reverse rules previously implemented by the Biden administration. US Transportation Secretary Sean Duffy accused the previous administration of illegally using the CAFE standards as a “backdoor electric vehicle mandate” and said that his department has submitted its reinterpretation of the rule to “ensure the American people can purchase the cars they want”. The reinterpreted rule has been submitted to the Office of Information and Regulatory Affairs for review. It has not yet been made public.
Olympic-sized deal – Microsoft signed an offtake agreement with UK-based investor Climate Asset Management (CAM) for up to 700,000 nature-based CDR credits through 2035. The agreement is the first part of a larger deal signed earlier in May between CAM’s operating partner EFM and the tech giant to deliver up to 3 mln improved forest management (IFM) credits over the next three years. EFM finalised this latest agreement of IFM credits involving Washington state’s Olympic Peninsula forest acreage. This will be CAM’s first US forestry asset within its Natural Capital Fund I.
Net-zero no-go – Canada Pension Plan Investments (CPP Investments), the Crown corporation managing over C$714 bln ($514 bln) in pension assets for Canadian contributors and beneficiaries, announced it will no longer maintain a commitment to achieving net-zero GHG emissions by 2050. The corporation cited recent legal developments in Canada that are allegedly increasing pressure to adopt standardised emissions metrics and interim targets, which it said do not reflect the complexity of its global portfolio. CPP Investments stated that forcing alignment with rigid milestones could lead to decisions misaligned with its investment strategy, and it will instead prioritise delivering long-term results.
Try, try, try again – The Trump administration is appealing an order requiring federal agencies to restore climate, agriculture, and energy grants. The Justice Department is asking the US Court of Appeals for the Fourth Circuit to intervene with the order to unfreeze grants, after a South Carolina federal district court denied a request to delay a permanent injunction earlier this week. (E&E News)
Building together – The government of Panama announced a new collaboration with the VCMI to support the development of a high-integrity carbon market for the country, while also supporting Panama’s efforts for its nationally determined contribution and nature goals. VCMI will provide in-house support to the country’s Ministry of Environment (MINAM) and hire two regional experts, in part to help design a transparent carbon market governance according to Article 6 and other global best practices.
VOLUNTARY
Land rush – Land rights are key to achieving just climate action, according to a new report ‘Net Zero and Land Rights‘ by Robert Bosch Stiftung and TMG Research. Up to 1 bln ha of land by 2060 (nearly the size of China) is required to realise net zero climate pledges, which will require an equitable approach to land rights. The report highlights that voluntary carbon projects are expanding in particular across Africa where land tenure is often insecure, with local communities facing growing pressure from offset projects that lack proper safeguards. The report calls for legitimate land rights to be recognised and protected; for carbon market stakeholders to treat Indigenous and local communities as equal partners; that projects only proceed after the “free, prior and informed consent” of local communities; and that gender equality and customary tenure recognition are embedded in all land use. It also calls for the integration of land rights into national climate strategies, including NDCs.
New partners – Climate consultancy Klimate is partnering with carbon removal standard Riverse, the two announced Thursday. The collaboration will enable smoother integration of Riverse-certified credits into Klimate portfolios, enhanced buyer transparency, and connecting corporates to quality projects, backed by credible standards, Klimate stated.
INVESTMENT
SAF sale – UK chemicals manufacturer Johnson Matthey (JM) has agreed to sell its net zero aviation fuel business for £1.8 billion to American rival Honeywell. On Thursday, the FTSE 250 company said it would sell its catalyst technologies division, which includes biofuels such as sustainable aviation fuel (SAF) and bioethenal, as well as “blue” hydrogen which is produced using natural gas. The business has a pipeline of more than 150 sustainable technology projects. The cash sale will lead to £1.4 billion being returned to shareholders. JM said it would continue with its “clean air” business, which primarily makes catalytic converters for cars, as well as a platinum metals group division that is working on technologies related to “green” hydrogen including electrolysers and fuel cells.
SCIENCE & TECH
Cement and CCS – Carbon capture will be key to decarbonising the cement and concrete sector, Jan Theulen, group lead of CCUS at Heidelberg Materials told Clean Energy Wire. But in addition to technical innovation, a coordinated approach to CO2 transport and storage infrastructure is also critical, he said. The cement maker’s strategy combines the use of biogenic waste as fuel with CO2 capture to pave the way for climate-neutral concrete. Its cement plant in Brevik, Norway will be the first to deliver net-zero cement and concrete to the market in large volumes.
Land and sea – CO2 removals from land and sea do not interfere with each other and can be combined, suggest three LMU Munich researchers in a study published in Nature Communications on Wednesday. Until now, it was unclear whether a combination of afforestation/reforestation and ocean alkalinity enhancement for example, could impair CDR effectiveness, as removing CO2 in one location could theoretically lead to reduced uptake elsewhere. Now, the scientists provide initial evidence to show that the efficiency of CDR is insensitive to both the amount of CDR and the CDR portfolio. This can reduce pressure on land, they write, though they called for more research into marine CDR and its environmental impacts.
—————————————————
**NOTICE: To mark Carbon Pulse’s 10-year anniversary and to better serve our subscribers with more targeted content, we are expanding and segmenting our news and intelligence into three specialised products. Read our FAQs to help you understand and prepare for our new offering.**
—————————————————
Got a tip? How about some feedback? Email us at [email protected]
