U go, Uganda - The government of Uganda on Thursday hosted an official launch event for the National Climate Change (Climate Change Mechanisms) Regulations of 2025, as per posts by the Ministry of Water and Environment on X. Minister Aisha Sekindi emphasised on the occasion that proceeds from selling carbon credits could be channelled to support national development priorities including investments in renewable energy, agriculture, forestry, waste management, transport, and local community initiatives. Uganda in January adopted its flagship carbon market regulations. These lay out the stages of no-objection, benefit-sharing plan formulation, approval, monitoring and reporting, verification, credit issuance, and credit transfer. It also mandates the creation of a national carbon registry, and stipulates that verifiers operating in Uganda must be accredited under one of the listed international standards.
- Th 23:55Phasing in a carbon tax in Kenya could bring in substantial revenues without placing extra burdens on poorer households, according to a report published this week.
- Th 23:30From BRICS to COP30 - BRICS has approved its first joint framework document on climate finance, as part of efforts to translate commitments into concrete actions ahead of COP30, which will take place in November in Brazil. The document was endorsed at a high-level meeting of deputy ministers and will be submitted to the heads of state in July. It recommends collective action by BRICS, involving multilateral banks, the mobilisation of private capital, and regulatory measures to ensure financial flows to developing countries, said Ambassador Tatiana Rosito, secretary for international affairs at Brazil’s Ministry of Finance, in a note.
- Th 23:09The African Development Bank (AfDB) will launch a carbon market support facility next year, an official told Carbon Pulse, in an effort to unlock billions of dollars of climate finance for the African continent.
- Despite Iraq’s surge of cross-ministerial support for carbon markets, international players are keeping their distance, according to the head of a global carbon market investment and project development platform working closely with the government.
- Th 18:13One of the biggest risks that project developers face is the ambiguity around corresponding adjustments by host nations under Article 6 of the Paris Agreement, a developer told a conference Thursday.
- Boasting the voluntary carbon market’s first warranty and indemnity insurance policy, the developer of a forestry project in Ghana is now fielding interest from six major corporates that are new to the market and offering a premium of at least 300% in added value, according to the developer's CEO.
- Th 18:04Peru's national carbon registry (RENAMI) is on the cusp of registering its first voluntary carbon market (VCM) project and first Article 6 project under a bilateral agreement, Carbon Pulse heard from a senior official on the sidelines of the Peru Carbon Forum in Lima on Wednesday.
- Th 17:37Benchmark EUA futures fell 1.5% on Thursday, retreating from a one-week high earlier in the day fuelled by excitement about the latest TNAC figure and news that President Donald Trump's wide-reaching tariffs have been blocked by a US court.
- Th 17:03The South Korean government on Thursday signed arrangements with the UNFCCC and the Global Green Growth Institute (GGGI) to work on developing a model framework, project methodologies, and other elements for a high-integrity global voluntary carbon market aligned with the Paris Agreement’s Article 6.
- Th 16:11You take the Hy road - Statkraft has signed an option agreement with Clydeport (part of Peel Ports Group) to explore the development of a green hydrogen production, storage, and export facility at the Hunterston PARC site in Ayrshire, Scotland. The project would repurpose a former coal terminal and connect to an existing jetty via pipeline for hydrogen exports, potentially in the form of ammonia. Peel Ports described the initiative as a major investment expected to create local jobs and support economic regeneration. The hydrogen facility is part of a broader push to redevelop Hunterston as a renewables hub, with ongoing or planned projects including:
- XLCC’s £1.4 bln HVDC subsea cable factory, linked to an interconnector project between the UK and Morocco, potentially creating 1,200 jobs
- Highview Power’s proposed liquid air energy storage (LAES) plant – the world’s largest – with another planned in Aberdeenshire
- A £150 mln redevelopment of the site’s marine yard to support offshore wind projects such as MarramWind and Malin Sea Wind.
- Th 15:43Wildlife-based conservation is a viable opportunity for nature markets that is more lucrative than livestock farming, an expert said this week.
- Th 15:19Shared experience - Ghana's delegation shared the country's progress on implementing Article 6 during the recent 4th Biennial Commonwealth Sustainable Energy Transition (CSET) Forum, which called for increased South-South cooperation to drive just and sustainable energy transitions across the Commonwealth. Ghana is currently running 12 carbon projects, with 8 mln tonnes of carbon credits, to sell on the international market, with existing international buyers including Switzerland, Sweden, and Singapore. The Ghana delegation proposed South-South cooperation within the Commonwealth to advance progress on carbon markets, which was accepted by the Commonwealth Secretariat. Country representatives from more than 30 Commonwealth countries met over the 4-day forum, to discuss a range of subjects from energy transition to AI.
- Th 15:06EU 2040 emission reduction target due in July - The European Commission will propose a 90% 2040 emission reduction target in July, Bloomberg reported. The executive will give greater flexibility to member states in the way it reduces its emissions - such as by allowing some international carbon credits, or giving up sub-targets for various sectors. The new target will also include removals. The draft law is set to come after Poland, which has opposed a 90% target, ends its rotating presidency of the EU, when Denmark will take over the presidency from July 1. (Bloomberg)
- Th 15:00Verra has backtracked from a blanket suspension of reviewing projects from four verification and validation bodies (VVBs) that were involved in auditing the 37 rice cultivation projects in China that the standard body rejected in 2024.
- Th 14:56Voluntary carbon credit trade crashed lower in 2024, wiping 29% off market value year-on-year, as project developers grappled with the "bumpy ride" to integrity, according to a report published Thursday.
- Th 14:56The quality of an Article 6 credit with a corresponding adjustment will fundamentally depend on how serious the host country government is in achieving its Paris Agreement commitments, said a carbon market expert at a London conference Thursday.
- Th 14:12Ukrainian industries - The Ukrainian Union of Industrialists and Entrepreneurs (USPP) said they support the government's intention to appeal to the European Union to postpone the implementation of the Carbon Border Adjustment Mechanism (CBAM) for Ukraine, RBC-Ukraine reports. The possible costs of CBAM to Ukrainian manufacturers could exceed €1 billion, according to some estimates. The Union says industries are already damaged by shelling, have limited access to financing, and are losing sales markets. (RBC-Ukraine)
- Th 14:10The question of 'fairness' is increasingly becoming a benchmark for the level of trust and integrity tied to a carbon project in Africa, and ultimately the price it can charge for credits — but major gaps remain to be addressed, speakers told a conference on Thursday.
- Th 13:27Sovereign credit rating agencies should better integrate environmental indicators, as existing methodologies largely fail to value improvements in biodiversity, according to a paper released this week.
- Th 11:00A pioneering study of airborne microplastics from analysing glacier snow aims to understand more about their climate-related impacts, with potential implications for regulating the plastics industry.
- Th 10:57A carbon market governance body and non-profit are joining forces to support financial regulations boost carbon finance in Kenya, focusing in particular on clean cooking projects, they announced Thursday.
- Th 10:49Accounting standards grow - The Partnership for Carbon Accounting Financials (PCAF) has surpassed 600 signatories globally, it announced on Thursday. The industry-led initiative provides support to finance firms with the aim of improving transparency on GHGs linked to financial activities including access to an extensive emissions factor database, technical assistance, and education. PCAF's Accredited Partner programme for consultancies, data, and software providers also continues to grow, and the partnership is reviewing recent feedback on proposed methodologies to add to its Global GHG Accounting and Reporting Standard, which it expects to incorporate by the end of the year.
- Flare gas reduction - Engineering consultancy Wood has been awarded a series of decarbonisation contracts worth $100 mln for flare gas reduction and carbon efficiency project solutions across large oil fields in Iraq, stated a press release. The company will deliver brownfield engineering, procurement, and construction (EPC) and modifications solutions to enhance operational efficiency and minimise environmental impacts, to drive Iraq’s pledge to reduce gas flaring 78% by the end of 2025.
- London-based asset manager Gresham House has secured £375 million at the final close of its latest forestry fund, marking its largest fundraise to date for a single vehicle.
- A UK construction firm has partnered with a biochar producer to trial the on-site conversion of roadside vegetation into carbon-storing material as part of a National Highways scheme, the firm announced Wednesday.
- Th 07:56Stop it - A group of climate activists have filed a lawsuit against the Export-Import Bank of Korea (KEXIM) and the Korea Trade Insurance Corporation (K-SURE) for their financial support to the Coral North Floating Liquefied Natural Gas (FLNG) project in Mozambique, according to a release by non-profit Solutions for Our Climate (SFOC). KEXIM and K-SURE have previously allocated around $1.8 bln in funding for a similar project, Coral South, and are reportedly contemplating an extra $1.9 bln in loans and guarantees for Coral North. That has aroused worries that public resources will once again be channelled to facilitate the expansion of fossil fuels overseas, SFOC said.
- Th 03:46Tanzania has become the 30th country to agree to a bilateral carbon trading framework with Japan under the Joint Crediting Mechanism (JCM), as part of Tokyo's strategy to secure Paris-aligned carbon credits.
- Th 01:23The Science Based Targets initiative (SBTi) must revise its updated Corporate Net Zero Standard (v2.0, CNZSv2) to allow more flexible use of high-quality carbon credits - including avoidance and reduction credits - to unlock greater private sector investment in climate action, Rubicon Carbon warns, adding that the current rigid framework risks deterring corporate engagement and delaying urgently needed emissions reductions.
- Th 01:10Ireland is on course to fall significantly short of its 2030 greenhouse gas reduction targets, even under the government's most optimistic policy scenario, the country’s Environmental Protection Agency (EPA) said in a report published this week.
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