Carbon pricing policies, including both taxes and fossil fuel subsidies, significantly influence countries’ export competitiveness in heavy industries, with coordinated global action key to mitigating trade distortions, a new study has found.

A South Africa budget announcement this week has confirmed a proposed price rise for the country's CO2 tax from next year as well as the expansion of carbon credit provisions, which will allow affected entities to use more offsets to meet their obligations.

In a third letter to global climate negotiators, published Friday, Brazilian COP30 President-Designate Andre Correa do Lago urged countries to shift gears when they meet in Bonn next month, warning against postponing important decisions.

Elimini President Laurie Fitzmaurice gave the keynote speech at this week's Carbon Unbound 2025 conference in New York. Here is a summary of her remarks.

An initial agreement struck on Monday to link the EU and UK emissions trading schemes (ETS) includes a key commitment from Britain to ensure “dynamic alignment” with the bloc's carbon market legislation – a move that puts Britain's emissions cap on the negotiating table, sources told Carbon Pulse.

Ghana and Singapore have signalled early support for a proposed Article 6.2 soil carbon project in Ghana’s Upper West Region targeting 3.6 million tonnes of CO2 by 2030, the project developer announced this week.

Here's our take - Sylvera has published an analysis of the projects applying to transition from the CDM to the PACM. The ratings agency has noted that a large share, around 80%, come from methodologies that are no longer used by voluntary carbon market standards, raising quality concerns. The requirement for these projects to shift to new, upcoming PACM methodologies by the end of the year presents a vital chance to address environmental integrity, they said.

A lack of familiarity with scientific emissions scenarios is limiting their usefulness for climate decision-making in low- and middle-income countries, according to analysis released Friday.

CORSIA compliant - The European Commission has adopted its annual updated list of countries other than the EU and EEA countries, Switzerland, and the UK, that are considering applying the UN's CORSIA. China is not on the list, as it has not been for the past few years, while the US remains, for now. The aviation industry is currently in CORSIA's first phase (2024-26), with the 'mandatory' phase starting in 2027, lasting until 2035, for member countries. In the first phase, participation is voluntary for these member states.

Cause and effect - A new study, published Friday, analyses how the shift to a low-carbon economy - driven by carbon pricing - affects credit risk within a multisectoral credit portfolio. Using a stochastic model that incorporates GHG emissions costs tied to production and consumption by firms and households, the research links carbon price dynamics to key credit risk metrics: probability of default, expected loss, and unexpected loss. By applying a discounted cash flow approach and a structural credit risk model, the study found that higher carbon prices reduce firm values, increase bank provisions (raising client fees), and lower bank profitability through increased economic capital requirements.

Singapore and Paraguay on Friday signed a final implementation agreement on carbon credits under Article 6 of the Paris Agreement, the seventh of its kind sealed by the Southeast Asian country.

UK standard body Social Carbon has launched an insetting framework for supply chains in forestry, land use, and agriculture (FLAG).

UN officials tasked with helping to shape the Paris Agreement Crediting Mechanism (PACM) will review and discuss a new clean cooking crediting programme at the next methodological expert meeting in July.