- Mon 23:44The Methodological Expert Panel (MEP) responsible for the Paris Agreement Crediting Mechanism (PACM) under Article 6.4 has proposed exemptions to certain monitoring, reporting, and reversals provisions for some projects.
- The US EPA announced Monday it plans to approve a sixth state for authority to permit underground CO2 injection wells.
- Environment and Climate Change Canada (ECCC) completed Monday the first offset credit issuance under its federal system from a landfill methane project in Nova Scotia, eligible for both compliance and voluntary purposes.
- Mon 21:46
Teamwork for takeoff - Honeywell, a global technology and manufacturing firm, Johnson Matthey, a sustainable technologies company, GIDARA Energy, a waste-to-fuel technology developer, and Samsung E&A, an international engineering and construction firm, recently formed the SAF Technology Alliance seeking to deliver an end-to-end solution for producing sustainable aviation fuel (SAF) from biomass and municipal solid waste. The alliance aims to shorten SAF project timelines by over 15% and reduce capital costs by up to 10%, while expanding availability of alternative feedstocks to meet rising global SAF demand.
Branching into trouble - Seattle-based Mast Reforestation, a carbon credit developer focused on replanting wildfire-damaged forests, is facing allegations from a former employee that it misled potential partners about the value and demand for its offsets, local media OPB reported. The company uses “ex ante” credits based on projected future carbon sequestration. Former Senior Director Arnoud de Villegas filed a wrongful termination lawsuit last July claiming Mast’s CEO made exaggerated statements about business prospects and offset values. The company has not commented on pending litigation but the case is up for a hearing Jul. 10.
- Mon 21:43A multinational insurance company has reduced its operational carbon footprint by 25% in 2024 compared to 2022, surpassing its internal target and offsetting the majority of its emissions through a range of nature-based projects.
- Mon 21:34The third United Nations Ocean Conference (UNOC) opened in Nice on Monday with announcements for the High Seas Treaty, 30x30, and Nationally Determined Contributions (NDCs).
Sky’s the limit - Skyrenu Technologies, a Quebec-based startup developing direct air capture (DAC) systems, announced the close of a pre-seed financing round supported by the Quebec government’s Impulsion PME programme—an early-stage venture capital fund managed by Investissement Quebec—and private investors, including Netherlands-based fund CarbonFix. The funding aims to strengthen Skyrenu’s operational capacity as it scales its DAC technology, developed in partnership with the University of Sherbrooke.
- Mon 20:14One land's garbage - Carbon management firm DevvStream announced two new MoUs with Indonesia on Monday for converting waste to energy. DevvStream plans to certify and market verified carbon credits and International Renewable Energy Certificates (I-RECs) through the MoUs. The company expects the waste-to-energy segment in Southeast Asia to expand to $7.7 bln by 2030 from roughly $4 bln today. The agreements build on the firm's Southeast Asian presence, following an earlier hydroelectric agreement DevvStream announced in Indonesia and its solar energy collaboration in the Philippines.
- Mon 20:13That's entertainment - SMC Entertainment, a fintech incubator, has signed a letter of intent with Sweden-based Circle Energy AB to deploy its FYNN AI platform to support the build-out of Circle Energy’s new Carbon Capital Solutions Division. The division will focus on the global production, purchase, and sale of carbon credits across both compliance and voluntary markets. FYNN AI will help identify and match buyers and sellers, assess credit quality and volume, and provide a white-label solution leveraging the Solana blockchain for transparency. A definitive agreement is expected by June 20, 2025.
Token of appreciation - The Central African Republic (CAR) will tokenise 1,777 ha of public land near Bossongo via its memecoin $CAR, under a decree signed by President Touadéra. The 99-year concessions will be sold on the Solana blockchain starting June. A total 76% of tokens of the $CAR memecoin are reportedly concentrated in just four wallets, raising concerns over potential market manipulation and centralised control, according to French media outlet BFM TV.
- Brazil’s Ministry of Indigenous Peoples (MPI), in partnership with an environmental NGO and a Brazilian consultancy, has launched a nationwide initiative to bolster Indigenous territorial governance, climate finance access, and biodiversity-based value chains.
- Mon 16:44A large European insurance firm has withdrawn from four international climate finance groups, citing a lack of clarity on how to move forward with corporate climate action.
- Mon 16:01Voluntary carbon prices continued to slide last week, following the pattern seen in May, although US registries bucked the trend and a Singaporean exchange claimed the first floating offer for cookstove credits versus an index for CORSIA Phase 1-eligible units.
Major mineral moves - Canada Nickel Company, a Canadian mining company focused on low-carbon nickel production, announced a partnership with Australia-based NetCarb, a company specialising in carbon mineralisation technologies, to commercialise new carbon sequestration technology. The collaboration aims to increase CO2 storage capacity of Canada Nickel’s Crawford project in Timmins, Ontario by up to tenfold, estimating 500 MtCO2 of sequestration over the mine’s life. The companies plan to seek government funding and industrial partnerships to further expand the initiative.
- CDR credit plans - US-based pharmaceutical multinational Eli Lilly said in its 2024 sustainability report that it intends to buy CDR credits to address its unabated emissions. The company said it has not yet bought any carbon offsets, noting its primary strategy is to directly reduce emissions and replace carbon-intensive sources with clean energy sources where possible. However, to achieve carbon neutrality, Eli Lilly said it recognises the remaining emissions will need to be offset by purchasing carbon offsets from climate protection projects with “recognised quality standards”. The company said it strives to be carbon neutral in its own operations by 2030. The company reported achieving a 37% absolute emissions reduction in its own operations from 2020 to 2024, as well as 15% year-on-year reduction from 2023 to 2024.
- A district court hearing in Germany last week questioned the validity of Apple’s climate neutrality claims for its Apple Watch, following a lawsuit by a German consumer protection organisation over the long-term effectiveness of the company’s carbon offset projects, local media reported.
- Mon 15:13A pilot project backed by Japan’s Ministry of Economy, Trade, and Industry (METI) is deploying artificial intelligence and remote sensing technologies to enhance forest carbon monitoring across a 6,000-hectare reforestation site in Malawi.
- The government of Madagascar has enacted a decree setting a comprehensive legal and operational framework for accessing the national forest carbon market by defining the ownership of emissions reductions and setting the rules for carbon programmes.
- Mon 14:25A global cruise company says it is focusing its decarbonisation efforts on energy efficiency after seeing direct emissions rise last year, while omitting any mention of carbon credits despite being a buyer in the past.
- Mon 14:16Zimbabwe has issued a Letter of Authorisation (LoA) for up to 2.855 million Article 6 Internationally Transferred Mitigation Outcomes (ITMOs), issued or to-be-issued, to a cookstove project, with 5,000 of those credits receiving corresponding adjustments, the developer confirmed to Carbon Pulse on Monday.
- CO2 capture from shipping - Ecospray has brought to market an amine-based carbon capture solution for shipping, enabling the capture of up to 80% of CO2 emitted during ship operations in specific conditions. The system has high energy efficiency, reducing energy consumption by up to 50% compared to similar technologies and transforming waste heat from ship engines into a valuable resource. Ecospray is also working with Captura and Equinor on an initiative to capture CO2 from seawater. (Manifold Times)
- A state in Nigeria will soon launch a subnational carbon exchange that will enable it to monetise emissions reductions through certified carbon credits, the government has announced.
- Mon 07:38ESG Light credits - Synergy ESCO, the Malaysian subsidiary of Hong Kong-based energy services company Unity Group, has launched a new brand of energy efficient light bulb suitable to generate carbon credits, it announced. The "ESG Light" operates at 4.5 Watts, and delivers an estimated 89% energy savings compared to conventional lighting. The company plans to partner with the Selangor state government to retrofit 6,000 apartment units with these lights and earn revenue from the subsequent generation and sale of carbon credits. While the company claimed its bulb to be the world's first to be eligible to generate carbon credits, existing energy efficiency methodologies in Japan and Australian carbon market schemes allow similar activities to be credited.
CP Daily News Ticker: 9 June 2025
Introducing the CP Daily News Ticker, a running list of all our news updated in real-time throughout the day. This is also the new home to our ‘Bite-sized updates from around the world’, which previously featured in our CP Daily newsletter.
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