- Taking applications – Brazil’s National Bank for Social and Economic Development (BNDES), state-owned oil giant Petrobras, and the Financier of Studies and Projects (Finep) – which is linked to the Ministry of Science, Technology, and Innovation – announced Wednesday a public call for the selection of the managing and structuring entity for the Equity Investment Fund (FIP). The EIP fund will be dedicated to energy transition and decarbonisation, aiming to take minority stakes in startups and technology-based micro-, small-, and medium-sized enterprises (MSMEs) in Brazil. CCUS and sustainable fuels are among the target areas of investment for the EIP, which the partners said may reach up to R$500 mln ($88.8 mln), with BNDES, Petrobras, and Finep planning to provide R$435 mln collectively. The selection process is expected to be completed in October, and operations to start in the first half of 2026. The total term of the FIP will be up to 12 years.
- Thu 00:52Proposals for some form of US carbon border adjustment mechanism (CBAM) should include the implementation of a national carbon price, as well as exempt exporting entities for their domestic CO2 costs, according to a report.
- Thu 00:01Just $1.2 billion currently flows to marine protection annually, compared to the $15.8 bln needed every year to protect and conserve at least 30% of the world's oceans by 2030, according to a report released on Thursday.
- Wed 22:52Climate-absent agriculture - The House Appropriations Committee submitted on Wednesday one of several appropriations bills upcoming for FY2026, with implications for climate funding in agriculture. A bill summary noted that the $21.9 bln provided for the US Department of Agriculture reflects eliminated funding for climate hubs, but includes increases for high-priority initiatives such as emerging pests and diseases. The agriculture subcommittee will markup this bill on Thursday.
- Wed 22:51New research shows that the shipping industry could reduce a sizeable chunk of its CO2 emissions by ditching “first-come, first-served” port arrival systems and implementing queueing systems that don’t incentivise ships to rush to their destination.
- Wed 22:35A representative of the Brazilian COP30 presidency said during a webinar Wednesday that the nation is keen to draw focus to carbon markets at the upcoming climate talks.
Diesel drop - Aggreko, a UK-based provider of modular energy and temperature control solutions, announced it replaced diesel with hydrotreated vegetable oil at four of its North American facilities—Pearland, TX, New Iberia, San Francisco, and Los Angeles—claiming to cut diesel-related carbon emissions by up to 60%. The biofuel is now used for onsite operations, including generator testing and fuelling service vehicles.
- Wed 22:09
Ambitious aims - The International Air Transport Association (IATA), representing about 350 airlines, concluded its annual meeting in New Delhi on Tuesday, reaffirming its commitment to achieving net zero emissions by 2050 despite concerns over sustainable aviation fuel (SAF) supply and aircraft delays. IATA estimates the cost of reaching the target at $4.7 trillion, or $174 bln annually. Airlines criticised energy companies for insufficient SAF production and plane makers for delivery delays, but no discussions were held on postponing the target.
- Wed 22:07The US Department of Transportation (DOT) released a report Wednesday finding California’s high-speed rail project to be in default of the terms of two federal grants totalling roughly $4 billion.
- Oil tax trade - Chevron’s Project Labrador, a natural gas-powered hydrogen plant, in Southeast Texas will be built in a new tax break zone, according to a report by Beaumont Enterprise. Jefferson County signed the agreement with the oil giant to bring 100 full-time jobs to the area. The plant, expected to break ground in 2029, is a part of Chevron’s broader project to establish a Gulf Coast Hydrogen Hub.
- Wed 18:54Hope for decarbonisation - A report by San Francisco financial services firm, Generate, has found that majority of companies are standing by their decarbonisation commitments, despite a swath of high-profile walk backs from large corporations. The report by Gopal Vemuri, development VP for Generate, stated a comprehensive analysis of over 6,500 companies found 84% standing by their decarbonisation commitments and 37% increasing ambition, compared to 16% decelerating their goals.
- Wed 18:39As the EU prepares to roll out its second Emissions Trading System (EU ETS2), a study has found that revenue frontloading could ease the transition to carbon pricing for transport and heating while accelerating climate action.
- Canadian CO2 cement - Calgary-headquartered Carbon Upcycling, a carbon waste tech company, has signed a deal with infrastructure materials company, Titan Group. According to the agreement, Carbon Upcycling will conduct technical feasibility studies at two Titan cement plants to produce low-carbon cement supplements with captured CO2.
- Wed 18:22The White House last week requested Congress claw back over $2 billion in international finance appropriated to the US State Department, citing concerns about its use for climate projects.
- Wed 17:46Tiny tweaks - Verra has published updates to its building weatherisation methodology VM0008, it said Wednesday. This follows a public consultation that ended January. VM0008 quantifies the greenhouse gas emission reductions that result from the weatherisation of dwellings and the implementation of energy efficiency measures in single-family homes, multi-family buildings, or mobile homes. Examples include improved air sealing, enhanced insulation, and replacements of refrigerators or air conditioning units. The revision expands the methodology’s scope to include heat pumps and heat pump water heaters.
- Wed 17:28EU carbon prices gave up a mid-morning rally to end Wednesday fractionally higher, after early strength driven by firmer natural gas and equities as well as the lack of a daily auction, with participants eyeing a recent upside resistance zone around €74.00, wile UKAs continued to hold on just above a key psychological level.
- Wed 17:08EU member states have cut their gas consumption by 15.6% compared to 2017-22, exceeding a voluntary target agreed last year, even though total consumption actually rose slightly compared to last year, according to fresh data.
- Wed 16:50Security is becoming the main concern when developing tomorrow's energy system, with a stable power supply critical to these plans, said European energy executives at an industry event on Wednesday.
- A US-based, climate-focused investment firm announced it raised over $400 million for its latest early-stage fund, with capital to be deployed into digital and software-enabled companies supporting decarbonisation.
- Wed 16:39Wet data - On Wednesday, CarbonPlan released a new, model-based dataset and tool to help characterise how well direct ocean removal (DOR), a marine CDR approach, works depending on where and when it is performed.
- A Switzerland-headquartered blockchain platform aims to address organic waste methane emissions from landfills it says are rampant yet avoidable, pairing carbon with so-called recycling credits to help companies meet both their decarbonisation and extended producer responsibility (EPR) goals.
- Wed 16:33Warning shot - The German government needs to backtrack on its decision to strip the foreign office of its responsibility for international climate action, warns a new report published Wednesday. Climate change and security are closely linked and require a holistic approach because water scarcity, extreme weather, hunger, and poverty all contribute to regional instability, according to the New Climate Institute. Germany should consistently embed the fight against climate change as an integral part of its foreign policy and security strategy, the report on international climate policy said. In parallel, Germany should strengthen the resilience of vulnerable countries to counteract climate-related instability. The report also advocated the German government should actively participate in the financing of Loss and Damage and climate adaptation, as well as by supporting the UN Climate Security Mechanism. The new coalition government of Friedrich Merz's conservative CDU/CSU alliance and the Social Democrats (SPD) has signalled continuity on energy transition policy, but has downgraded the profile of climate action after returning national and international policy remit to the environment ministry, according to the authors.
- Wed 16:29The lower house of the Moroccan legislature on Monday passed a bill empowering a domestic body to issue certificates validating companies’ reporting about embedded carbon, as the North African government prepares for EU CBAM compliance from 2026.
- Wed 16:26A quiet place - Net zero is entering an era of quiet progress, according to Michelle You, CEO of Supercritical, in an op-ed published Wednesday on the WEF website. She highlighted a significant shift in corporate climate strategies. While public climate commitments and high-profile pledges have diminished, companies are intensifying their efforts to achieve net zero emissions through substantive actions, particularly focusing on durable carbon removal, she added.
- Wed 16:22For the end-consumers - European electricity suppliers announced their intention to support residential customers on their energy transition journey. They committed to communicate smarter with personalised, multilingual advice and real-time alerts; engage all consumers; boost efficiency through tailored energy-saving tips and smart tools; promote demand flexibility to help consumers save; and support grid resilience.
- Wed 16:16Clear as mud - The latest draft version of the CLEAR cookstoves methodology, along with an updated explanation of decisions document, will be posted on the 4C website in June, the organisation said. This compared to a previous end-of-May expectation. UN officials tasked with helping to shape the PACM are also due to review and discuss a new clean cooking crediting programme at the next methodological expert meeting in the summer.
- Wed 15:47Denmark's climate and energy minister said on Wednesday that his country has not asked the European Commission for the inclusion of international (Article 6) credits to meet the EU's 2040 emission reduction target, insisting however that the decision needs to be a collective one.
- Wed 15:42A technology company that uses artificial intelligence to uncover root scope 3 emissions has raised $30 million in Series B funding.
- Wed 15:23
Boycott break - Texas has removed BlackRock, a US-based multinational investment company, from its list of companies deemed to be boycotting the energy industry after the firm reduced its involvement in climate-focused initiatives. The removal allows Texas agencies and funds to resume business with BlackRock and may bolster the firm’s defense in a lawsuit brought by Texas Attorney General Ken Paxton over its environmental practices. BlackRock stated it invests over $400 bln in Texas assets. The firm was initially added to the boycott list in 2022 under a law targeting financial institutions prioritising environmental and social investment strategies.
- Fresh head at Xpansiv – Infrastucture provider Xpansiv has appointed market data leader Andrea Remyn Stone to its Board of Directors. Stone currently serves as Chief Executive Officer of Zema Global Data Corporation, and has acted as an adviser to the Xpansiv Board since May 2023. Previously, she held senior leadership roles at the London Stock Exchange Group, including CEO, group head of data and analytics and chief product officer. She also served as chief customer proposition officer at Refinitiv, and has held executive roles at S&P, Dealogic, Bloomberg, and ION. In addition to her new role at Xpansiv, Stone sits on the board of Alkymi.io.
- Wed 15:18The EU ETS and UN CORSIA international aviation offsetting scheme have a "collaboration issue" which will come to a head in 2027, according to a new report from an international consultancy.
- Wed 15:07Hydrogen hopes hampered - Lourenco Goncalves, CEO of US steel manufacturer Cleveland-Cliffs, announced the company is unlikely to proceed with its hydrogen-based steel project in Middletown, Ohio, despite a $500 mln US DOE grant awarded under the Biden administration. Goncalves cited concerns over the insufficient pace of US hydrogen production needed to support the project’s timeline. The company now plans to extend the life of its existing coal-based blast furnace and is renegotiating the terms of the grant with the Trump administration. (E&E News)
- Wed 15:04
Please disregard - The White House’s Office of Management and Budget (OMB) directed the Department of Transportation (DOT) to disregard a Government Accountability Office (GAO) ruling that found the Trump administration violated the law by freezing funding for the National Electric Vehicle Infrastructure (NEVI) programme. In a letter, OMB General Counsel Mark Paoletta called the GAO’s finding “wrong and legally indefensible,” arguing that the DOT’s handling of NEVI programme funds complied with statutory requirements and past practices. The GAO previously concluded that the DOT unlawfully withheld funds appropriated under the 2021 bipartisan infrastructure law. (E&E News)
- Wed 15:01A pan-Asia Pacific carbon border adjustment mechanism (CBAM) taking in the wealthiest industrial nations covering steel, cement, and aluminium is the best and cheapest way to reduce emissions from these hard-to-abate sectors while preserving margins and industries, an Australian think tank argued in a report Thursday.
- Wed 14:45Shifted focus - Six senior staff members of the Bank of England who resigned from climate and nature risk monitoring roles between 2020 and last year told the FT that climate change has become less of a focus under governor Andrew Bailey. Some said he had moved the BoE away from risks perceived as 'soft' and difficult to quantify. Previous BoE governor Mark Carney was one of the first central bankers to highlight the threat of climate change to financial stability, but the debate over central banks' influence on minimising climate risks to the financial system has recently shifted. In Feb. 2024 Bailey acknowledged the financial stability risk posed by climate change but said "the depth and breadth of the work we do will be trimmed back somewhat”. The only climate stress test conducted by the BoE to date forecast an average 10-15% annual “drag on profits” from climate change for banks and insurers. The test has yet to be repeated.
- Wed 14:32A Japanese project has begun testing a new method to measure blue carbon using satellite-guided underwater drones and artificial intelligence (AI), in a bid to accelerate seaweed bed conservation and simplify the certification of blue carbon credits under the country’s J-Blue Credit system.
- Wed 14:12A Brazilian healthcare institution has purchased $15,000 worth of voluntary biodiversity credits, becoming the first in its field to finalise a transaction in the emerging market.
- Wed 14:122 become 1 - Another milestone has been reached in the race to make nuclear fusion a commercial reality after the Wendelstein 7-X team achieved a new world record for the 'triple product' in long plasma discharges. The US and European collaboration raised the plasma temperature to more than 20 mln C, hitting a peak 30 mln C for 43 seconds, surpassing the best performances of fusion devices of the tokamak type for longer plasma durations. The triple product — also known as the Lawson criterion — is the key metric for success on the path to a fusion power plant. Only when a certain threshold is exceeded can a plasma produce more fusion power than the heating power invested. This marks the point where the energy balance becomes positive, and the fusion reaction can sustain itself without continued external heating. During the experiment, another two milestones were achieved. Energy turnover was increased to 1.8 gigajoules, with a plasma duration of 360 seconds. The previous record from Feb. 2023 was 1.3 gigajoules. Plasma pressure relative to magnetic pressure reached 3% for the first time across the full plasma volume. This ratio is a key parameter for extrapolating to a fusion power plant, where 4–5% across the volume will be needed.
- Wed 14:09Portfolio access - ClimeFi has joined forces with XPrize to bring carbon removal buyers access to a portfolio featuring the winners and finalists of the $100 mln XPrize carbon removal competition. By engaging with the initiative, buyers can access solutions from developers including Mati Carbon, Undo, and NetZero, with diversified exposure, competitive terms, reduced barriers to entry, and guaranteed supply, according to a press release.
- Establishing a dedicated carbon regulator in the UK could reduce reporting burdens, raise data quality, and strengthen investor confidence by standardising emissions accounting and coordinating oversight, proponents argued on a webinar on Wednesday, building on mounting calls for the establishment of an entity to oversee emissions policy.
- Wed 13:56After a consistent decline in 2020-23, average CO2 emissions from newly registered cars in Europe increased in 2024, according to provisional data released today by the European Environment Agency (EEA).
- CORSIA monitoring - The European Commission has adopted a Delegated Regulation setting out rules for the monitoring, reporting, and verification of aviation emissions for the purpose of implementing the aviation offsetting scheme CORSIA within the European Economic Area. This adoption aligns with the EU ETS, ensuring that aircraft operators based in the area meet the offsetting requirement under CORSIA for flights outside the ETS during 2021-23 and 2024-26. The adopted act will now be transmitted to the European Parliament and the Council and provided there's no objection in the next two months, the act will be published and will enter into force thereafter.
- Wed 13:28Demand is growing to decarbonise new gas plants with carbon capture and storage (CCS), particularly to serve the spiralling electricity demand of AI-led data centres, said an industrial group executive, who emphasised the importance of thermal power to maintain system flexibility.
- Wed 13:11An online agtech company has partnered with a Hong-Kong based blockchain network to tokenise carbon credits, in a deal that could see up to 1 million REDD+ in Mexico moved on-chain, the company claimed.
- Wed 11:11Premium pricing and technical complexity are stalling corporate demand for biochar carbon removal, creating procurement hurdles even as companies face pressure to meet net zero targets, according to market participants.
- Wed 10:58May saw a major jump in issuances in the voluntary carbon market (VCM), while monthly retirements also soared 75% year-on-year, putting the market back on track for a record year, new Carbon Pulse analysis of registry data shows.
- Wed 10:02The Shanghai government will auction off carbon allowances under its emissions trading scheme at the end of this month to ensure regulated companies can acquire sufficient permits for compliance purposes.
- Wed 10:00Go faster - British MPs have urged the UK government to speed up the build out of power generation and grid upgrades needed to reach the country's 2030 target for 95% clean electricity. Planning delays, resource shortages, and regulatory barriers are holding back progress, and without an acceleration, the government risks missing its 2030 goal, wrote the House of Lords Industry and Regulators Committee in a report. The Committee recommends the government publish progress updates every 6 months, ring-fence planning fees for local authorities, and make clear how grid access will be prioritised for key sectors. It's also called for those affected by zonal electricity pricing to be supported, which it believes could cut bills and improve grid efficiency if carefully managed. (edie.net)
- Wed 09:17Open to all - The Calyx Global Platform is now open for public access, providing more organisations with information on carbon credit quality, according to a LinkedIn statement. The carbon research provider is making tiered GHG integrity ratings available to all, alongside project-level SDG impact ratings, and a search-and-compare tool. It's expected to help professionals simplify due diligence when buying credits, avoid reputational risk, and invest in credits that deliver tangible impact. View the platform here.
- Wed 09:14Emerging frameworks in the voluntary water credit market are paving the way for fresh private capital to address the ongoing water crisis, with early movers looking for local buyers.
- Wed 08:57Inconsistent - Jera, Japan’s largest energy company and largest emitter, continues to emit a massive amount of CO₂ despite its 2050 net zero commitment, according to a report released by environmental NGO Kiko Network. The power company has been working to expand new coal- and LNG-fired power plants since 2020, and is promoting co-firing with ammonia or hydrogen to reduce emissions from coal-fired power generation. The co-firing strategy is "entirely inconsistent with the 1.5C target", the non-profit said, adding that a series of generous government measures have been rolled out to support Jera’s business. Jera is the largest power generation company in Japan, producing about 30% of the country's electricity.
- Wed 08:27Managing mangroves - Indonesia’s environment ministry is preparing a regulation to manage and protect mangrove ecosystems, covering planning, rehabilitation, utilisation, and law enforcement, Antara News reported. The regulation will promote a science-based with community involvement. Supervision will be shared across central and regional authorities, an official said. Indonesia risks losing over 19,500 ha of mangroves annually without intervention, and currently has 3.44 mln ha of mangroves, with nearly 80% in forest zones, according to the 2024 National Mangrove Map. Meanwhile, a study from April warned that half of the world's mangroves are threatened by rising sea levels and tropical cyclones.
- Wed 08:05Brazil's Federal Public Ministry (MPF) filed a lawsuit Tuesday requesting the immediate suspension of an international contract for the purchase and sale of carbon credits signed between the state of Para and a coalition of international governments and multinational corporations.
- Wed 06:11A significant portion of EU ETS revenues should be directed towards industrial decarbonisation efforts, including electrification, a lobby group said Tuesday.
- Wed 06:05Demand growth - South Australia's electricity demand is likely to grow by 1.3 GW by 2035, but could be even higher due to unprecedented level of interest in the state's nation-leading renewable energy capacity, according to a report published by transmission company Electranet. The company's Transmission Annual Planning Report said interest is coming for both load and demand, from industries such as mining, green steel, desalination, data centres, and new renewable energy projects. Active interest in new load connections in the short to medium-term currently exceeds 2.5 GW. The report warned that transmission frameworks, planning assumptions, and regulatory settings need to get ahead of the pace of change. Renewable energy currently makes up about 72% of the state's electricity mix, and is expected to reach 100% by 2027.
- Wed 05:48The victory for South Korea's left-leaning presidential candidate Lee Jae-myung in Tuesday's election could mean a boost to the country's renewable energy sector, while the shutdown of coal-fired power plants has been brought to the policy agenda.
- Wed 05:48Taking wings - Honeywell this week signed an agreement with India's NTPC Green Energy, a subsidiary of the thermal power producer NTPC, to explore producing SAF using captured CO2 and green hydrogen, local media reported. The agreement for a feasibility study is part of NTPC’s planned Green Hydrogen Hub in the south eastern state of Andhra Pradesh. The study is expected to conclude by mid-2025. Earlier this year, Honeywell partnered with an India-based startup AM Green to study the production of SAF from ethanol, green methanol, and green hydrogen.
- Wed 04:57A group of climate scientists have sent an open letter to New Zealand Prime Minister Christopher Luxon, warning him that changing how the country accounts for biogenic methane emissions risks jeopardising its Paris Agreement commitments.
- International carbon exchange ACX Group has teamed up with a local Argentinian marketplace to launch what it claims to be the country’s first digital carbon exchange, the company announced Wednesday.
- Wed 02:50Smelt away – New Zealand’s sole aluminium smelter, Tiwai Point, will be increasing its production from June 16, following an early end to its electricity demand reduction agreement with Meridian Energy, the energy firm said in a stock exchange notice. The Rio Tinto-operated facility had agreed to cut its demand until Nov. 25 to ensure security of supply for the winter months, but a boost to New Zealand’s hydro reserves in recent weeks has left Meridian confident about energy supply and cleared the way for Tiwai’s production to increase. Tiwai Point produces around 335,000 tonnes of aluminium annually, Rio said, powered entirely by renewable energy. It claims to produce 85% fewer CO2e emissions than the industry standard, at 1.99 tCO2e per tonne of aluminium in 2022, according to its website. In March, the government doubled the free allocation of NZUs to the smelter, valued at NZ$75 mln ($45 mln), to maintain its competitiveness with facilities abroad that do not face a carbon price.
- Wed 02:05An Asian forest fund has invested in a Vietnamese timber company, its first step into the Southeast Asian country.
- Wed 01:12Heating up – Two bands of the globe are heating up faster than elsewhere, according to a study published in the Journal of Climate looking at ocean heat content. The two bands are around the 40th parallel, with the southern hemisphere showed the greatest heating, around the 35-50 degrees latitude south – around New Zealand, Tasmania, and parts of the sea around Argentina. The second band is around 35-45 degrees latitude north, particularly around the east of the US and east of Japan, reported Radio NZ. The scientists said changes in atmospheric aerosols and cloud patterns may have affected sea surface temperatures in the North Pacific and North Atlantic, but also that the movement of warmer air from land over the oceans could also have contributed. They concluded that global warming-induced heat is being systematically redistributed globally by both the atmosphere and ocean currents.
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