- Wed 00:18The Development Bank of Latin America and the Caribbean (CAF) launched its first-ever blue bond, raising €100 mln to support coastal development, the financial institution announced on Tuesday.
- Wed 00:01Border carbon fees are essential to cutting emissions from hard-to-abate sectors in the absence of international carbon pricing schemes, because they're the only way in which developed countries can take responsibility for the emissions they import, according to a study published on Wednesday.
- Tue 23:42Announcement incoming - The Trump administration will move Wednesday to repeal federal limits on power plant climate pollution, attacking the Biden era’s most ambitious attempt to use regulations to rein in heat-trapping gases from the electric grid, E&E News reports, citing six people familiar with the situation. EPA Administrator Lee Zeldin will announce the repeal of the power plant CO2 rule along with a separate regulation to curb hazardous air pollution such as mercury during an event at agency headquarters, the sources said. The two repeal proposals are the most important EPA regulatory actions of President Donald Trump’s second term to date. Without offering details, EPA said Tuesday that Zeldin will make a “major policy announcement” at 1400 EST Wednesday. Scrapping the Biden-era power plant rule would effectively shelve regulations for the nation’s second-biggest producer of climate pollution - the electricity sector - which accounts for one-quarter of US greenhouse gases.
- Tue 23:39Para-guau! - UK-based financier Astarte Capital Partners is evaluating new investments in Paraguay through the Second Forestry Fund, following a carbon credit understanding under Article 6 of the Paris Agreement that the South American country announced in May with Singapore. Project developers can leverage this framework for the generation and transfer of credits from carbon mitigation projects in alignment with Article 6. For Astarte Capital, a representative said the ability to "internationalise" Paraguayan institutional carbon credits to the global market is critical to the firm doubling its financial commitment for sustainable forest development, to $700 mln from the current $325 mln investment. Astarte Capital's investment expansion would include planting approximately 60 mln trees in Paraguay, sequestering an estimated 18 Mt of CO2, Economia reported on Monday. The final implementation agreement signed by Singapore and Paraguay has been underway since Dec. 2023, and Paraguay is under bilateral negotiations with the UAE, Switzerland, Thailand, and Finland.
- New credits – Anglo-Brazilian startup NaturAll Carbon has issued the first series of carbon credits from regenerative agriculture in the Americas, certified according to Verra’s methodology for Improved Agricultural Land Management (VM0042). The issuance resulted in 5,632 credits from a project under development in Cassilandia, in the Brazilian state of Mato Grosso do Sul. Around 3,000 hectares were converted from extensive livestock farming to the adoption of regenerative agriculture practices. The startup plans to scale up to 150,000 hectares over the next three years, with the goal to remove 300,000 tonnes of CO2 from the atmosphere annually.
- A US-based soil carbon project developer announced Tuesday the expansion of its grassland restoration and carbon finance initiatives into Costa Rica, aiming to quadruple its ranchlands acreage being developed with sustainable agricultural practices.
- New acting head – Pennsylvania-headquartered carbon project developer Finite Carbon announced Tuesday David Stevenson as acting COO and president “while the company rolls out a new leadership structure better suited to support our clients and project development in both the voluntary and compliance markets”. Finite saw a significant number of its staff laid off earlier this year following its acquisition by Toronto-based forestry investment firm Boreal Carbon Corporation, including its former CEO and co-CEOs. Finite said Stevenson has led the launch of its Canadian operations for the past four years, and has worked as the lead on the ongoing development of an IFM protocol for Alberta's TIER programme, and also held a variety of lead roles with the Saskatchewan Forest Service, among other experiences.
- Tue 23:27Drill more efficiently, AB - Alberta’s provincial government announced C$20 mln in funding for technology advancements in drilling. The programme, which officially launches in the fall of this year, will focus on accelerating the development of geothermal, helium, critical minerals, CCUS, and other technologies that leverage drilling innovation to reduce emissions. The funding comes from Alberta’s carbon pricing system, the Technology Innovation and Emissions Reduction (TIER) fund, and will be allocated by Emissions Reductions Alberta.
- Tue 23:26
Back to the bureau - The US Senate has confirmed David Fotouhi as Deputy Administrator of the US EPA, following his nomination by President Donald Trump. Fotouhi, an environmental attorney and former Acting General Counsel at the EPA during Trump’s first term, is expected to oversee the EPA’s operations, including its air, water, chemical safety, and enforcement offices. He most recently worked as a partner at Gibson, Dunn & Crutcher LLP and holds degrees from Vanderbilt University and Harvard Law School.
- Tue 23:24Scorched earth - President Donald Trump has taken a “scorched earth” approach to climate policy by going far beyond his first-term actions, a former diplomat said Tuesday during the Politico Energy Summit. Trump is moving to withdraw the US from the Paris Agreement, as he did during his first term, but this time the US has also skipped attending environmental conferences that are used to help shape international agreements, according to Sue Biniaz, former principal deputy climate envoy at the State Department. Last time, for example, officials participated in meetings that helped write the rules of the Paris Agreement, despite Trump announcing a move to exit. The first Trump administration also left the states largely alone, she said. “This time it’s more like scorched earth, if you will, which is not participating really in anything that has the word climate related to it,” said Biniaz, who worked closely with former Secretary of State John Kerry when he served as climate envoy under President Joe Biden. Allowing those other processes to continue kept climate diplomacy going during Trump’s first term, said Biniaz, arguing that it showed that the US wasn’t “necessarily monolithic” on climate issues. (E&E News)
- Britain’s Climate Change Committee (CCC) has warned the government against including nature-based carbon removals, such as woodland creation, in the UK ETS, arguing that such a move risks undermining emissions reduction goals and distorting the carbon market.
- The Canadian province of British Columbia (BC) proposed new rules to regulate how GHG reductions from refrigeration and air-conditioning systems can generate carbon offset credits, according to a draft protocol released on Tuesday.
- Tue 22:42At a critical point in its energy transition, the EU must resist deepening dependence on US LNG in exchange for tariff relief and instead stay the course on reducing gas demand and enforcing its Methane Regulation, which offers a strategic tool to boost climate action, energy security, and global market influence.
- Tue 22:26You have the power - The Electricity Alliance of Canada, a coalition of six industry associations, has issued a joint statement urging the federal government to develop an urgent and ambitious electricity plan - that includes carbon pricing - to meet rising demand, support economic growth, and strengthen Canada’s position as a global energy leader. Amid growing electricity needs driven by industrial electrification and digitalisation, the sector warns that current power generation levels - around 630 TWh annually - will be insufficient for the future. The group calls for major investment in generation, transmission, and distribution infrastructure to ensure affordable, reliable, and clean power remains a strategic national advantage. In response to the recently introduced One Canadian Economy Act, the sector outlines five key priorities:
- Streamline project approvals and investment incentives – Urging faster, clearer processes for electricity projects and finalisation of Clean Economy Investment Tax Credits, alongside a balanced carbon pricing strategy.
- Partner meaningfully with Indigenous communities – Emphasising Indigenous leadership in clean energy and calling for expanded financial tools to support participation.
- Build inter-provincial energy corridors – Calling for action on longstanding proposals to enhance grid connectivity and labour mobility across provinces.
- Secure electricity supply chains – Addressing risks from global trade disruptions and calling for federal support to bolster infrastructure supply resilience.
- Invest in workforce development – Advocating sustained funding for training tradespeople and engineers to build the future grid.
- Tue 21:04On the fast track - The Federal Permitting Improvement Steering Council will work to help break ground on as many large infrastructure projects as possible during the Trump administration, its new head told the Washington Examiner. Last week, the White House tapped Emily Domenech, former staffer for US House Speaker Mike Johnson (R-LA), as the head of the permitting council established under the second Obama administration to improve transparency on the federal permit and environmental review process for infrastructure and manufacturing projects exceeding a $200 mln investment value. Pending the advancement of permitting reform through Congress, Domenech said she will prioritise manufacturing within and outside the energy sector, and help expedite the build out of AI data centres and quantum computing facilities. The federal permitting council manages energy production, pipelines, and critical mineral mining, among other project categories. Efforts to fast-track projects through permitting would still face environmental regulatory hurdles, according to Domenech.
- Investment incoming - Investment firm Pegasus Capital Advisors will invest up to $20 mln into carbon-negative cement company Partanna, the pair announced Tuesday. The strategic investment, still under discussion and subject to further diligence, would be made through the Global Fund for Coral Reefs platform managed by Pegasus. It would support Partanna’s expansion into emerging markets, unlock grant opportunities, and build coastal resilience under Partanna Ocean, a subsidiary of the company.
- A federal court on Monday denied Brazilian prosecutors’ request to urgently suspend the state of Para’s $180 million jurisdictional REDD+ (J-REDD+) deal with a coalition of national governments and corporates, according to a press release.
- Tue 19:26Cementing low-carbon pathways - American building materials manufacturer Ozinga broke ground on a low-carbon cement facility in Indiana. The facility will serve US and Canadian customers, producing sustainable cement starting in 2026, to meet the growing demand for low-carbon concrete in data centre construction and other infrastructure projects, according to the company announcement. The mill will maximise energy efficiency by using vertical rollers with high throughput capacity, producing low-carbon slag cement and proprietary Ozinga-brand low-carbon cement in compliance with protocols from the standards organisation American Society for Testing and Materials (ASTM). Ozinga projected that the plant will offset more than 700,000 tonnes of CO2 emissions annually, once fully operational.
- Tue 19:25
Record rise - In 2024, the US produced more energy than ever before, according to an analysis by the US Energy Information Administration (EIA). Last year, the US produced a record 103 quadrillion British thermal units (BTU) of energy, marking a 1% increase from the previous high in 2023. The EIA stated that the growth was driven by record domestic production of natural gas, crude oil, natural gas plant liquids, biofuels, solar, and wind. Natural gas remained the top energy source, accounting for 38% of total production, followed by crude oil at 27%. Coal production declined to its lowest level since 1964, while renewable sources such as biofuels, solar, and wind also hit record highs.
- Tue 19:24
Wind withdrawal - Atlantic Shores Offshore Wind, a joint US-based venture between Shell New Energies and EDF Renewables, has filed a request with the New Jersey Board of Public Utilities to cancel its Offshore Renewable Energy Certificate Order, effectively terminating its Project 1 and 2 offshore wind developments off the New Jersey coast. The company cited economic challenges, including inflation, as well as political obstacles, including the revocation of its air permit in March by the US EPA’s Environmental Appeals Board. The projects were intended to provide renewable electricity for over 1 mln homes.
- Tue 19:24Funding clean energy - The British Embassy in Bolivia announced on Monday a new funding opportunity within the Amazon Regional Fund in the clean energy sector through the UK Partnering for Accelerated Climate Transitions (UK PACT) programme. UK PACT, which would disburse £11.6 bln through the Amazon Regional Fund via the UK's International Climate Finance portfolio, seeks to fund carbon and biodiversity projects in Bolivia, Ecuador, Guyana, and Peru. The funding call for the clean energy tranche targets renewable energy generation, energy access, and energy efficiency projects. The clean energy sector call for proposals will fund projects under three tranches: promoting electric vehicle adoption and lithium battery production in Bolivia; facilitating clean energy access for Peruvian Amazon projects; and structuring public-private partnerships and other private instruments to enable large-scale clean energy development in the Peruvian Amazon.
- Policymakers must look to support rapid research and development of enhanced rock weathering (ERW) as the nascent market expands mostly outside the reach of government regulators, argue carbon removal (CDR) advocates.
- Tue 18:17All 22 Pacific countries and territories on Tuesday pledged at the UNOC conference in Nice to work together to protect their oceans under the Unlocking Blue Pacific Prosperity Initiative (UBPP), though funding remains a major challenge.
- RENARE offline - Colombia's national RENARE carbon registry has been suspended from June 9-July 31 as it migrates platforms, the Ministry of Environment and Sustainable Development (MADS) announced on Monday. RENARE is being transferred to MADS from a site hosted by the Institute of Hydrology, Meteorology, and Environmental Studies (IDEAM). MADS Climate Change Director Luz Helena Hernandez Hilarion has hailed the migration as a harbinger of efficiency, security, and transparency for Colombian carbon markets. The registry, established by law in 2015 and regulated into existence in 2018, is still not fully operational.
- Tue 18:00Verra has finalised risk maps for projects in two Brazilian states and, in so doing, fully operationalised its revamped REDD+ methodology VM0048 via the ‘avoiding unplanned deforestation’ VMD0055 module, the standard announced on Tuesday.
- Tue 17:47EU carbon allowance prices gave up Monday's gains and recorded their first loss in six days, returning to the middle of their well-established range as activity picked up on Tuesday after a public holiday on northern Europe, while gas prices continued to drift for a third day as traders eyed news of additional supply deals.
- Tue 17:30Global carbon revenues fell in 2024, but for the second year in a row over $100 billion was raised for public budgets from pricing systems, according to a report released Tuesday.
- Tue 17:23The Nature Positive Initiative (NPI) has begun the initial process to find metrics that corporations can use to work towards “ocean positive” actions.
- Tue 16:57One year after its official kick off, the European Union's Emissions Trading System (ETS) for maritime transport is facing intense criticism from Mediterranean shipping leaders, who have warned of a potential rapid shift of activities to North African ports.
- Tue 16:57There is a wave of capital coming to carbon markets in the next few years, a representative from a large investment firm said on Tuesday.
- Tue 16:46Spain's state-owned port authority Puertos del Estado has launched an observatory to assess the impact of the EU ETS on national port competitiveness, amid mounting concerns that higher operating costs relating to the cap-and-trade scheme could divert maritime traffic to non-EU ports.
- Tue 16:31Permanence matters - The critical role of permanent carbon removals to achieve durable net zero is highlighted in a new policy brief by the Smith School of Enterprise and the Environment at the University of Oxford. Permanent removals, particularly engineered approaches, are crucial for neutralising residual fossil-based emissions and addressing legacy carbon, and could be developed via a specialised Paris Agreement Crediting Mechanism (PACM) in future, the authors wrote. They highlight the risk of the PACM setting a weaker climate standard than the Kyoto Protocol, demonstrated by the first tranche of projects seeking to transition or be developed under the mechanism. They recommend that separate targets to reduce and remove GHGs be initially adopted before transitioning the mechanism to one that finances only GHG removals, and ultimately only permanent removals.
- Tue 16:17The Paris Agreement Crediting Mechanism (PACM) can work alongside independent registries in the future to raise carbon finance for the countries most in need, an official said Tuesday.
- Tue 15:44Oil refiners have called on the European Commission to provide guidance on the sector’s transition to climate neutrality, as fuel suppliers prepare for the EU’s upcoming Emissions Trading Scheme for road transport and heating fuels, the ETS2.
- Tue 15:40Bolivia burning - Bolivia is facing an environmental crisis marked by unprecedented deforestation and wildfires. In 2024, the country lost 1.48 mln hectares of primary forest - triple the amount lost in 2023 - making it the second-worst globally after Brazil. Wildfires burned 12.6 mln hectares, with Santa Cruz, a key agricultural region, suffering 68% of the damage. Most fires were caused by illegal and intentional land clearing, including in protected and Indigenous areas, largely to make way for industrial agriculture. A new documentary from the Gecko Project, Bolivia Burning, explores the human and environmental toll of this crisis. It follows Bolivian human rights lawyer Alvaro Bozo Garcia and British journalist David Hill as they travel through the devastated eastern lowlands. The film, set to be released in July 2025, documents the impacts on communities, examines government policies, and investigates actors like the Mennonite farming communities and US agribusiness giant Cargill, which the filmmakers allege is sourcing crops from deforested areas despite sustainability claims. Screenings will begin in Bolivia on June 19, with the Gecko Project encouraging wider participation and hosting. Watch the trailer.
- Tue 15:24Further evidence - A new report by UCL has concluded that in order to align with Paris Agreement goals, no further licenses or development consents should be granted for new oil and gas fields in the UK. It also found the UK should make greater efforts to phase out production than poorer countries, or those whose existing fields can produce at lower cost, and that the UK can lead by example for other countries to follow. Based on a review of scientific and social scientific literature, 'the Climate Implications of New Oil and Gas Fields in the UK' report was published jointly by UCL Policy Lab , UCL Energy Institute, and UCL Political Science and School of Public Policy.
- Tue 15:20Portfolio IRL - Data aggregator AlliedOffsets has launched a new portfolio monitoring tool that will show the live portfolio and individual carbon credit listings, as well as performance tracking. The tool can be used for analysis of demand, pricing and retirements of credits in a portfolio, and also enable users to access bid and offer prices for credits.
- Tue 15:16Ethiopia has completed an analysis of legal gaps affecting carbon market readiness but is still working to develop an Article 6 roadmap, as well as imminent legislation to facilitate carbon market participation.
- Tue 15:07The income, value-added, and inheritance taxes owed through participation in the UK’s carbon standards for woodland and peatland are still somewhat under review, but there may be some scope to qualify for tax relief, particularly with commercial woodland, experts said on Tuesday.
- Tue 14:59Wood chips in soil - Gold Standard has launched an activity module aiming to estimate and monitor GHG emissions from project activities that enhance soil organic carbon (SOC) sequestration on agricultural land. This is where SOC levels increase through soil improvement using wood residues derived from chipped trees. These orchard recycling practices help prevent soil degradation by preserving soil organic matter, which supports stable crop yields and promotes ecosystem resilience. Feedback can be submitted here before July 9.
- CO2 in cement - A project has been launched at the Port of Rotterdam to substitute part of the traditional cement content in the anchoring mix with product developed by Paebbl, implemented by construction firm Hakkers. In the quay wall application, 15% of the traditional cement has been replaced with Paebbl’s carbon-storing material, resulting in fewer emissions and a total of 110 kg of CO2 per tonne of material sequestered. Paebbl's material is able to permanently sequester up to 300 kg of CO₂ for every 1,000 kg produced, and to reduce embodied carbon in construction by up to 30%, stated the press release Tuesday. Cement accounts for 8% of global CO2 emissions.
- An agreement on the EU's anti-greenwashing policy, the Green Claims Directive, is now expected by the end of June, with EU co-legislators leaning towards the position adopted by the Council of EU member states, according to sources following the talks.
- Tue 14:44Core Carbon Principle (CCP) high integrity-stamped carbon credits are being offered for under $2 as the number issued from the big four registries passes the 60 million mark, according to market participants.
- Tue 14:32Cluster pluck - One of the UK’s CCS clusters, the Northern Endurance Partnership (NEP), is drilling six new CO2 injection subsea wells in the North Sea, offshore engineering company Aquaterra Energy announced on Tuesday. Aquaterra has secured the contract to supply its CCS-ready high-pressure subsea drilling riser system, as well as another contract to ensure two legacy wells are secure and safe. The NEP project could see first CO2 injection as early as 2028 with a permitted injection rate of 4 mln tonnes annually.
- A Vancouver-based carbon credit investor announced Tuesday it has committed €3.7 million to a Lithuanian climate finance firm under a royalty agreement to scale regenerative agriculture across 1 mln hectares of European farmland.
- In an effort to scale domestic production capabilities, a CO2 direct ocean capture (DOC) technology company announced plans on Tuesday for new headquarters and a commercial manufacturing facility.
- Clean Italian power - US renewable energy company Enfinity Global has signed a power purchase agreement (PPA) with an unnamed US technology company, agreeing to provide renewable energy from a 420 MW portfolio of solar capacity in Italy, it announced on Tuesday. Six-year-old Enfinity boasts a portfolio of 35.5 GW of renewable and storage projects it total, with another 37 GW under negotiation in the US. In Italy, the company has contracted 805 MW over the past two years through PPAs with major corporations and industrial companies.
- Tue 12:51For years African financiers hesitated to fund voluntary carbon offset projects, mainly due to revenue uncertainty but the operationalisation of Article 6 in Baku last year has dramatically shifted their perceptions.
- Mangrove restoration - Dubai-headquartered project developer Blue Forest said in a social media post it has to date planted 10 mln mangroves across 1,300 ha in Mozambique. The UAE-based firm, which aims to sequester 2 mln tonnes of CO2 annually by 2030, is developing mangrove projects in 10 countries, including the MozBlue project in Mozambique, which is the largest mangrove reforestation project in Africa.
- Tue 12:13Fourteen countries have signed a pledge to implement ocean accounting by 2030 into their national systems in a bid to attract marine conservation investors.
- A UK standard body has launched a consultation round on a framework for nutrient credits as part of its broader effort to boost confidence and interest in nature markets.
- Tue 11:11No takers - None of Singapore's carbon tax-paying emitters have yet shown intention to use carbon credits to offset their tax liability, a government spokesperson told Carbon Pulse. The government in April allowed companies to carry over unused international carbon credit (ICC) allowances into 2025, as supply constraints in the carbon offset market have left firms struggling to source eligible credits. In 2024, Singapore’s carbon tax was raised to S$25/tCO2e from S$5/t. The carbon tax for emissions in 2024 will be collected by Sep. 2025, the spokesperson said. Meanwhile, the projected carbon tax revenue for emissions in 2024 is estimated to jump to $642 mln, reflecting the higher carbon tax rate.
- Tue 10:56Battery energy storage and AI will be critical to strengthening the resilience of electricity grids as they become more dispersed and dominated by renewables, say energy experts.
- Tue 10:53China's Shandong province has released a methodology to quantify carbon sinks stored in seagrass beds, as the regional government seeks to explore the potential of blue carbon.
- Tue 10:10The Article 6.4 carbon crediting mechanism will set the new standard for Paris Agreement-aligned carbon markets, a German government official told a conference in Seville on Tuesday.
- Tue 09:51Funding secured - Archeda, a Japanese startup providing digital MRV (dMRV) services for nature-based carbon projects, has raised new funds for an undisclosed amount from a group of investors, it announced Tuesday. Investors include ONE Innovators, Mitsubishi Electric Corporation, and Hokkaido Kyoso Partners. Archeda, with experience in afforestation and rice cultivation projects, said the money will help advance product development and accelerate the company's international expansion.
- Tue 09:50An organisation under South Korea's environment ministry has inked a business agreement with 13 companies to support their international emissions reduction projects.
- Tue 08:54Laos this week adopted a decree to govern its carbon market, following up on previous efforts with an eye to developing a project pipeline under Article 6 of the Paris Agreement.
- Tue 07:57Malaysia could see over 4 billion tonnes of CO2e of lifecycle emissions should all of its existing and planned oil and gas projects continue or go ahead, an environmental watchdog warned Monday.
- Tue 07:49A prominent legal group is taking the New Zealand government to court over its Emissions Reduction Plan (ERP), alleging it fails to fulfil basic requirements of the law.
- Tue 06:26Open call - The ASEAN-UK Green Transition Fund (GTF), has opened a climate mitigation call for proposals under the nature-based solutions sector, it has announced. To be eligible for funding, each proposal must respond to at least one of the requirements, including transboundary policy frameworks and platforms for collective action on NbS, NbS models and monitoring, financing for NbS research and development, and nature-positive financing and businesses. The fund, with up to £40 mln from 2024-29, is aimed at accelerating ASEAN’s transition to a clean and climate resilient economy. The deadline for submitting proposals is July 3.
- Tue 03:56California 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.
- Tue 03:41Battery boom - Australia is experiencing a battery boom, according to a report by advocacy group the Climate Council. The report found there are more than 20 GW of big battery storage in the pipeline, almost double what was planned just a year ago. Additionally, more than 300,000 households have added a battery since coming into the market in 2015. The report noted 1 in 2 households that already have a rooftop solar pv system installed are seeking to add a battery, just before the federal government launches in Cheaper Home Batteries subsidy programme kicks off on July 1.
- Tue 03:34Ammonia agreement - ASX-listed NH3 Clean Energy has signed a joint development agreement with Pilbara Ports Authority and Oceania Marine Energy to establish low-emissions ammonia bunkering at the Port of Dampier, Western Australia by 2030, the company announced. The agreement outlines an integrated scope of work and timetable to confirm the feasibility of bunkering operations, with the aim to support final investment decision for NH3's WAH2 project, bunker vessel, and port infrastructure by the end of 2026. It follows the company signing an MoU with a group of companies that will take CO2 produced from NH3's hydrogen and ammonia development for storage underground.
- Tue 03:14The 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.
- Bond boost - Peruvian REDD+, ARR developer Bosque Amazonicas has raised $600,000 in the issuance of bonds, reported Gestion. The company had announced the public offering to attract investment for environmental restoration projects in the Peruvian Amazon.
- Tue 02:18CORSIA considerations - UN aviation agency ICAO estimated in its 2025 environmental report that activities under programmes approved to supply CORSIA-eligible credits for the scheme’s first phase (2024-2026 compliance period) have obtained host country attestations for up to 18.4 mln units with vintage years 2021-2023. While noting that the Technical Advisory Body’s (TAB) latest figures show up to 2 bln in potential units available from carbon credit standards approved for the first phase, the report noted that these figures do not incorporate the eligibility parameters within each programme, and TAB will introduce programme-specific eligibility parameters in future updates of its supply analysis. 2024-2026 CORSIA demand has been pegged as high as 160 mln units, while, according to a report published in February by ratings agency BeZero, some 200 mln credits currently available in VCM are likely to be eligible for the first phase of the scheme, while Michael Evans, group sustainability insights manager at the International Airlines Group (IAG), has warned against drawing conclusions on supply too early considering the Jan. 2028 deadline for the first phase. Ultimately, success of the scheme depends on factors such as continued enhancement of integrity criteria and improved MRV, while ICAO should consider the alignment of CORSIA with an extended net zero target for 2050 and incorporate non-CO2 impacts to generate sufficient price signals, the report read.
- Tue 01:58The 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.
- Tue 01:36The 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.
- Tue 01:21Now trading - Clean fuels company XCF Global began trading on the Nasdaq today under ticker symbol “SAFX”. The company is developing sustainable aviation fuel (SAF) production facilities and commenced commercial production at its New Rise Renewables facility in Reno, Nevada in Feb. 2025.
- Spot auction - Brazilian oil major Petrobras expects to carry out an auction in July to define the price for the first tranche of 5 mln carbon credits that will be purchased by the company through long-term offtake contracts as part of its ProFloresta+ programme. "The idea is to set a public price benchmark," said Maria Izabel Ramos, NbS senior manager at Petrobras, during an event in Sao Paulo last week. The programme was launched in March, in collaboration with Brazil's National Bank for Social and Economic Development (BNDES), and aims to capture 15 MtCO2.
- Tue 01:01Tech 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.
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