A European soil carbon startup has announced its withdrawal from carbon credit markets, citing structural incompatibility between current market frameworks and regenerative agriculture practices.

A group of business and investor leaders have written to the European Commission urging it to adopt a 90% emission reduction target for 2040.

Greenwash hearing – A French civil court will hear a 2022 alleged greenwashing lawsuit against oil major TotalEnergies on June 5, said ClientEarth, the law firm representing environmental groups Greenpeace France, Friends of the Earth France, and Notre Affaire a Tous that filed the case. The plaintiffs claimed TotalEnergies misled consumers about its products through advertising and public messaging that they said was in breach of the European Unfair Consumer Practices Directive. Claimants purported that TotalEnergies’ "reinvention" marketing campaign broke European consumer law in suggesting the company could reach net zero emissions by 2050 whilst still expanding fossil fuel production.

To ensure it works effectively, the EU’s Carbon Border Adjustment Mechanism (CBAM) needs to be extended to other sectors such as chemicals, as well as across the supply chain of the goods that are currently in the scheme, according to a non-profit think tank.

We're not speaking to you - The EU has turned down Russia's request for consultations regarding its Carbon Border Adjustment Mechanism (CBAM), according to a World Trade Organization document released on Monday. Earlier this month, Russia had sought consultations with the EU at the WTO over the carbon border levy — a preliminary move in initiating a formal trade dispute. In its response, the EU reiterated its support for WTO dispute settlement procedures and acknowledges the purpose of consultations as defined under WTO law - to reach a mutually satisfactory solution. However, the EU said it strongly condemns Russia’s ongoing war of aggression against Ukraine, calling it a grave breach of international law and the UN Charter, and asserting that it undermines Russia's credibility in international institutions, including the WTO. The EU stated that, in light of Russia’s actions in Ukraine, the conditions for meaningful consultations do not exist. It explicitly declined Russia’s request for consultations, citing the "extraordinary circumstances" created by the war, and maintains that consultations in this context cannot be fruitful. The EU stressed the importance of a just and lasting peace in Ukraine and states that it will not engage with Russia on this matter as long as Russia continues to violate international law through its aggression. While declining to enter consultations, the EU clarified that this decision is without prejudice to its rights in any future adjudicative proceedings under the WTO's dispute settlement body regarding the matter.

European carbon prices on Monday reclaimed all their losses from the end of last week after the US announced over the weekend it would postpone proposed tariffs on the EU for another month, while energy markets, as well as a tight auction schedule, also fed in support with analysts generally expecting a bullish week.

Low credit issuance and retirements last week reflected a subdued voluntary market that continues to be stifled by the lack of available Core Carbon Principles (CCP)-tagged credits, as well as few signs of a reaction to the expected shortage of eligible Phase 1 CORSIA supply in the coming years.

It's official – Zimbabwe’s President Emmerson Mnangagwa officially launched the national carbon registry in Harare on Friday. The Zimbabwe Carbon Registry (ZCR), developed by A6 Labs and Zimbabwe’s Ministry of Environment, Climate, and Wildlife, uses blockchain technology to monitor carbon credits from issuance to retirement. With the launch, Zimbabwe initiated world’s first inter-registry transfer under Article 6, Mnangagwa said. The transfer involved moving 10,000 carbon credits from Gold Standard's registry to Zimbabwe’s ZCR, related to a project developed by local firm Cicada, media outlet Daily News reported. Earlier this month, the country published its new carbon trading regulations in a bid to attract fresh investment and enhance transparency. With the launch of the registry, the government aims to build investor confidence and align with the Paris Agreement’s Article 6 framework.

The climate targets in Germany’s land use sector (LULUCF) appear to be out of reach. However, abandoning targets for nature-based CO2 sinks would be equal to abandoning its climate neutrality goal, warns Milan Loose, who works as Policy Advisor on Negative Emissions at Bellona Deutschland.

The European Commission is considering regulatory measures and public funding to support the uptake of nature credits across the EU, as well as introducing certain carbon credit methodologies with a biodiversity dimension, according to a leaked draft version of its roadmap for developing and scaling the market.

Deploying carbon capture, utilisation, and storage (CCUS) across key industrial sectors in Bulgaria, Croatia, Greece, and Romania could reduce the region’s industrial CO2 emissions by up to 25% by mid-century, according to new analysis by Dutch-based researchers.

Brains wanted - The UK Woodland Carbon Code (WCC) is seeking new members for its advisory board. Advisory board members play a crucial role in guiding the development, application, and promotion of the WCC, ensuring it remains a robust and credible standard for woodland carbon projects. The commitment involves attending four meetings annually and contributing to consultations as needed. Applications are open until June 30.

Tough outlook - Germany’s plans for the ramp-up of a green hydrogen economy has run into significant uncertainties, including over the fuel’s future price, regulation, and the necessary infrastructure development, according to a new energy industry report. However, improving Franco-German energy cooperation could be an opportunity for building a European hydrogen alliance, said the study, produced by consultancy EY and energy industry association BDEW. (Clean Energy Wire)

A Dubai-headquartered project developer announced Monday it has partnered with a Nairobi-based clean cooking company to distribute 1.2 million digitally monitored biomass and electric cookstoves across four African countries.

A sustainability platform has launched a new open-source database containing emissions data, which it claims covers 95% of global GDP.

End of the boom? – The US shale boom may be coming to an end, analysts said, as global oil demand falls in the wake of the global trade war launched by US President Donald Trump and as Opec countries raise their output to price out US shale production. Oil prices settled at $61.53 a barrel last week, below the $65 level at which shale oil is profitable, according to the quarterly energy survey by the Federal Reserve Bank of Dallas. Oil output is projected to fall by 1.1% next year on the back of a slowing global economy, according to S&P Global Commodity Insights, marking the first annual decline in a decade. Saudi Arabia is now trying to regain market share and they’ll probably succeed over the next five years, said one analyst quoted by the FT. If crude drops to $50 a barrel, US production would probably lose up to 300,000 barrels a day, said another analyst. (Financial Times)

Firefighters ready – The EU has put together teams of firefighters and aircraft to prepare for the increased wildfire risk during the upcoming summer months, the European Commission announced on Monday. Throughout July and August, almost 650 firefighters from 14 European countries will be positioned in key high-risk locations in France, Greece, Portugal, and Spain to support local intervention teams. A further 19 ground firefighting teams, of around 30 firefighters each, and one advisory and assessment team, are also ready to be mobilised. A dedicated wildfire support team will be established at the EU's 24/7 Emergency Response Coordination Centre to monitor risks, analyse scientific data.

As the European Parliament prepares to discuss a reform of the EU’s Corporate Sustainability Reporting Directive (CSRD), one lawmaker has put forward amendments that would cement the obligation on companies to publish ‘climate transition plans’ while streamlining reporting requirement across other pieces of EU legislation to avoid double reporting.