**NOTICE: To mark Carbon Pulse’s 10-year anniversary and to better serve our subscribers with more targeted content, we are expanding and segmenting our news and intelligence into three specialised products. Read our FAQs to help you understand and prepare for our new offering.**
Presenting Carbon Pulse’s free CP Daily newsletter. Sign up here
TOP STORY
California lawmakers defer ETS extension language in proposed budget bill
California legislature’s 2025-26 state budget proposal opted out of a speedy cap-and-trade programme extension that appeared in a previous package from the governor, documents released Monday showed.
*NEW* DAILY NEWS TICKER
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 of our ‘Bite-sized updates from around the world’, which previously featured at the bottom of our CP Daily newsletter.
EMEA
Zimbabwe authorises up to 2.86 mln Article 6 credits, with 5k receiving corresponding adjustments
Zimbabwe 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.
German insurer leaves four climate finance groups citing “ambiguity”
A large European insurance firm has withdrawn from four international climate finance groups, citing a lack of clarity on how to move forward with corporate climate action.
Nigerian state to launch Africa’s first subnational carbon exchange
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.
Euro Markets: EUAs cut loose from TTF gas link and rise to three-week high as macro, demand optimism grow
European carbon prices advanced for a sixth day, disconnecting from a weaker natural gas market as a holiday across many parts of Europe robbed the EUA market of liquidity and handed the initiative to the bulls, with traders eyeing US-China trade talks this week, as well as the prospect of lower renewables output and increased cooling demand.
UK govt puts £14 bln into Sizewell C reactor as part of renewed push on nuclear
The UK government is putting £14.2 billion into building the long-debated Sizewell C nuclear power plant, in a move it says will boost the country’s clean electricity supply and cut energy bills, it announced on Tuesday.
Gas becoming “permanent transition fuel”, Polish minister says
The growth of renewable energy sources means gas is becoming a “permanent transition fuel”, as the electricity system needs baseload energy to keep in balance while coal is being phased out to address climate change, a Polish minister has said.
Madagascar issues decree to regulate forest carbon market access
The government of Madagascar has brought regulation into force that creates the legal and operational framework to scale forest carbon markets by defining the ownership of emissions reductions and setting the rules for crediting programmes, also stipulating levy amounts on activities.
Article 6-aligned carbon project in Malawi secures Japanese backing
A 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.
German court questions Apple Watch’s carbon claims -media
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.
AMERICAS
EPA readies approval of CO2 storage well primacy authority for US oil state
The US EPA announced Monday it plans to approve a sixth state for authority to permit underground CO2 injection wells.
RGGI Market: Q2 auction outcome boosts RGA values
RGGI Allowance (RGA) settlement values inched higher following Q2 permit sale results, with market participants now expecting weather forecasts to direct price trajectory in the near-term absent federal and regulatory updates.
Canada issues first federal offset credits to landfill gas project
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.
Brazil launches national project to strengthen Indigenous governance, climate finance access
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.
ASIA PACIFIC
NZ Market: NZUs trade higher as forestry tug-of-war continues
The New Zealand carbon allowance price has climbed upwards in recent days and is breaking free of its rangebound trend, as the forestry sector is blamed for driving down sheep flock numbers.
New Zealand introduces farm-to-forestry limitation bill, NZU price creeps up
The New Zealand government has introduced its long-awaited legislation design to limit the amount of agricultural land being converted to exotic forestry in the emissions trading scheme, with the NZU price rising in response.
China preparing allowance allocation plan for non-power sectors
China’s environment ministry is soliciting opinions from industries to formulate the permit allocation plan for the three newly added sectors under the national emissions trading system – steel, aluminium, and cement.
Taiwan to introduce domestic version of CBAM in 2027
Taiwan is planning to introduce its own version of a Carbon Border Adjustment Mechanism (CBAM) in 2027, which will initially apply to steel and cement products.
VOLUNTARY
VCM Report: Slide in prices extends May trend, low floor seen for Phase 1 CORSIA carbon credits
Voluntary 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.
Multinational insurer advances carbon reduction goals with nature-based offset projects
A 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.
INTERNATIONAL
Article 6.4 methodology panel proposes carve-outs for cookstoves, other projects
The 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.
Article 6.4 panel posts draft standard on ‘suppressed demand’ for public consultation
The Methodological Expert Panel (MEP) responsible for the Paris Agreement Crediting Mechanism (PACM) has published a draft standard for public consultation, addressing when and how substandard local living conditions could be used as a basis for careful inflation of project baselines.
Balanced mix of engineered and NbS removals needed to meet 2C goal -report
Tech and nature-based carbon removals (CDR) should be deployed in combination to align with the Paris Agreement’s 2C target, rather than treated as competing options based on durability alone, according to a report released Tuesday.
SHIPPING
Countries urged to include shipping emissions in updated Paris pledges
Countries need to include shipping emissions in their new economy-wide climate commitments to the Paris Agreement, or the global sector risks falling significantly short of its net zero goal, a group of NGOs said on Monday.
Cruise operator touts efficiency to cut emissions, following rise in 2024
A 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.
BIODIVERSITY (FREE TO READ)
All our nature and biodiversity articles remain free to read (no subscription required). However, we now require that all readers have a Carbon Pulse login to access this content in full. To get a login, sign up for a free trial of our news. If you’ve already had a trial, then you already have a login.
UNOC: High Seas Treaty approaches critical threshold
The third United Nations Ocean Conference (UNOC) opened in Nice on Monday with announcements for the High Seas Treaty, 30×30, and Nationally Determined Contributions (NDCs).
UNOC: European govts lead push to revive plastic treaty talks
The governments of Norway, Germany, and the UK are spearheading an initiative to get negotiations for a first-ever UN plastic treaty back on track, ahead of a make-or-break summit in August.
New UN initiative to unlock ocean-dependent industry financing
The UN has begun developing a global platform aimed at mobilising billions of dollars in blended and private capital from ocean-dependent industries, it announced Sunday.
UK initiative launches to mobilise £500 mln in annual private investment for biodiversity
A new initiative launched on Monday in the UK aiming to unlock £500 million in annual private sector investment for biodiversity conservation and restoration.
GBF Fund approves $26-mln spend for second round of projects
The Global Biodiversity Framework Fund (GBFF) on Friday approved nearly $26 million in funding for three projects aimed at supporting biodiversity conservation across five countries in Africa and Latin America.
WWF guides companies on how to act for climate and nature action beyond their value chains -report
The World Wide Fund for Nature (WWF) released a new paper providing guidance for companies on how to take credible climate and nature action beyond their value chains.
—————————————————
Job listings this week
- Carbon Sales Trader, Offset8 Capital – Abu Dhabi
- Senior MRV Analyst, GreenCollar – Remote/Sydney (preferred)
- Analyst/Senior Geospatial Analyst, GreenCollar – Flexible/Sydney (Preferred)
- Temporary Climate Officer Focused on EU Emissions Trading, Naturvårdsverket – Stockholm
See all listings or post a job
—————————————————
ADVERTISE WITH US
Carbon Pulse has published its 2025 advertising brochure and media pack, featuring updated offerings and prices. With that, bookings are now open for advertising on our website and in our newsletters.
—————————————————
BITE-SIZED UPDATES FROM AROUND THE WORLD
Our bite-sized updates no longer appear in this newsletter and have been relocated to the new CP Daily News Ticker launched on the Carbon Pulse website. The Ticker acts as a ‘live blog’, featuring all Carbon Pulse news published that day, appearing in real time. For now, the Daily News Ticker remains free to read for Carbon Pulse non-subscribers, but it will soon be migrated to paid access only.
**NOTICE: To mark Carbon Pulse’s 10-year anniversary and to better serve our subscribers with more targeted content, we are expanding and segmenting our news and intelligence into three specialised products. Read our FAQs to help you understand and prepare for our new offering.**
Got a tip? How about some feedback? Email us at [email protected]
