Proposals 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.

Just $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.

The 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.

A 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.

A 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.

Demand 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.

An 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.

Premium 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.

May 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.

The 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.

Emerging 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.

Inconsistent - 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.

Managing 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.

Demand 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.

The 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.

Taking 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.

A 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.

Smelt 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.

An Asian forest fund has invested in a Vietnamese timber company, its first step into the Southeast Asian country.

Heating 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.