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TOP STORY
US EPA replaces clean power plan rules with proposal that preserves coal, natural gas
The US EPA announced on Wednesday a repeal of emissions regulations on new and existing power plants, replacing with new rules that would no longer force the sector to reduce its emissions.
*NEW* DAILY NEWS TICKER
CP Daily News Ticker: 11 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
Brussels outlines conditions for Article 6 use in EU’s 2040 climate target
The European Commission’s top climate official has outlined key conditions for using Article 6 international credits to meet the EU’s 2040 climate target, saying those need to rely on robust monitoring, reporting, and verification (MRV) systems, which are currently not in place, and will probably take years to develop.
UK ETS verified emissions drop 11.5% in 2024 as power, steel record falls
UK ETS emissions fell by more than one-tenth in 2024 as a drop in power sector emissions led the way lower for a second year, while the iron and steel sector led a decline in industrial greenhouse gases, and aviation reported a marginal gain.
Euro Markets: EUA rally continues to be held in check by key level acting like “bouncer at a night-club”
European carbon allowance prices headed back towards a key level on Wednesday morning, boosted by strong gains in natural gas and power markets after news of corrosion at a French nuclear reactor sparked a rally across energy markets, and weekly position data showed speculative participants had upped their bullish bets last week.
UK puts nearly £10 bln into CCUS, throwing weight behind two more clusters
The UK government is putting nearly £10 billion of funding towards carbon capture, utilisation, and storage (CCUS) out to 2030, and throwing its weight behind the development of a third and fourth cluster, the Treasury announced in its Spending Review on Wednesday.
South Africa to allow PACM credits for use against carbon tax
South Africa plans to allow Article 6 credits issued under the new Paris Agreement Crediting Mechanism (PACM) for use under its CO2 levy, a government official said Wednesday.
EU open to different uses of biochar for CDR – but not in steel or plastics, official says
Although the European Commission recognises biochar as a permanent carbon removal (CDR) technology, not all uses will qualify under the EU’s Carbon Removal and Carbon Farming (CRCF) certification framework, an official told Carbon Pulse.
UK-based MRV firm launches dynamic benchmarking tool to assess forest carbon additionality
A London-based measuring, reporting, and verification (MRV) firm said Tuesday it has launched a dynamic performance benchmark (DPB) assessment to help nature-based (NbS) project developers better evaluate the additionality of their forest carbon projects.
Advisory group announces “world’s largest” carbon finance project in Burundi
A climate finance government consultancy is looking for a partner to develop a clean cooking project in Burundi in what could be the “world’s largest ever carbon finance project”, it announced on Wednesday.
Polish court says EU energy and climate policies infringe on sovereign rights
A Polish court has ruled that the EU’s energy and climate policies breach the country’s sovereign right to decide its energy mix and how it’s supplied, and found the climate action tools like the Emissions Trading System (ETS) can significantly affect national energy policy.
EU plans for green hydrogen could backfire and cause emissions, warns report
Too much renewable hydrogen could hinder the EU from hitting its climate target and keep emissions high, warns a new report.
Qatari financial district to launch tokenised carbon market pilot by year’s end -media
Qatar’s business and financial centre will in late 2025 launch a pilot tokenised carbon market, according to several regional media outlets.
AMERICAS
Washington Q2 auction settles $3 above front-month futures, but fails to trigger reserve volumes
Washington’s second quarterly auction of 2025 cleared over $3 above front-month Washington Carbon Allowance (WCA) future prices the day before the sale, reaching the highest settlement since the end of 2023 but failing to trigger the release of reserve volumes, according to a notice published Wednesday.
Iowa governor vetoes legislative effort to restrict CO2 pipeline development
Iowa Governor Kim Reynolds (R) vetoed Wednesday a bill that aimed to restrict the ability of CO2 pipeline projects to develop private land, citing the bill’s impact on those that have secured voluntary agreements.
Natural gas power pipeline could add 10% to Texas emissions -report
Texas’s natural gas plant pipeline, aimed at supporting rocketing electricity demand amid an AI boom, could bump up the state’s annual emissions by as much as 10%, according to a report released Wednesday.
California offset issuance drops to just over 7k, invalidation expiry soars
California regulator ARB issued just over 7,000 offset credits over the latest two-week stretch as the invalidation period of over 800,000 units expired, according to state data released Wednesday.
INTERVIEW: GFS, FuelEU, EU ETS carbon levies on ships spawn new complexities in carbon market
Ships that transit through the EU may soon face three overlapping prices levied per tonne of CO2 above different, predefined thresholds, with added complexity arising from the several market-based flexibilities and contingencies left within the system.
States in Brazilian Amazon could receive $10.5 bln from REDD+ credits through 2030 -study
Nine Brazilian states covering the country’s Legal Amazon area could collectively raise $10.5 billion or more from 2023-30 in REDD+ credits, according to a study published Tuesday by a California-based think tank.
Brazil eyeing 5-20% threshold for carbon credit use in ETS, govt official confirms
The Brazilian ETS will allow the use of carbon credits to cover between 5-20% of emissions by regulated entities, a Brazilian Ministry of Finance official confirmed on Wednesday, with the exact share to be determined by the end of 2026.
Colombia releases biofuels roadmap to decarbonise economy
Colombia’s Ministry of Mines and Energy has released a roadmap for the development of biofuels, outlining a national strategy meant to shape domestic energy policy.
BioCarbon Standard proposes updates as it readies ICVCM application
The Latin American nature market Biocarbon Standard has proposed updates to its core carbon programme as it seeks to achieve the Core Carbon Principles (CCP) label from the Integrity Council for the Voluntary Carbon Market (ICVCM).
ASIA PACIFIC
Vietnam ETS pilot to launch in August with generous offset rules
Vietnam will launch its domestic carbon market in August, with generous offset rules that will allow companies to use carbon credits for up to 30% of their emissions quotas, according to regulations released late Tuesday formalising the national emission trading system (ETS).
Japanese company signs deal for large green steel plant in Malaysia
A Japanese industrial major this week announced it has teamed up with a local partner in Malaysia to build a green steel plant that will make 2 million tonnes of hot briquetted iron (HBI) annually with significantly lower carbon emissions than traditional coal-fired facilities.
“Loose” rules will see NZ farmers skirt exotic forestry restrictions, report finds
The New Zealand government’s “loose” limits on farm to forestry conversions will see land continued to be forested, as the volume of overseas investment in forestry rose in the last two years, according to a report published Wednesday.
Japan’s largest investors continue to back fossil fuel expansion plans, report finds
Japan’s top five investors hold more than $40 billion in companies with the world’s biggest fossil fuel expansion plans, which could wipe out the emissions reduction potential of their clean energy investments, according to a new report.
SK Market: Monthly KAU auction sells out, clearing price remains below $7
South Korea’s monthly CO2 permit auction on Wednesday was again oversubscribed, but with the clearing price remaining below KRW 9,000 ($6.55) despite an uptick in market activity since last month.
VOLUNTARY
Corporate lobbying often at odds with climate pledges -report
Analysts have identified a glaring data gap between corporate climate pledges and their lobbying, which may lead to poorly informed decisions from investors and a slow down on climate progress.
Calculating carbon emissions from sport just got easier with launch of new methodology
Influential sports organisations including the Football Association (FA) in England and Cricket Australia are supporting a unified approach to calculate greenhouse gas emissions across sport, with the launch of a new methodology and calculator allowing the industry to more consistently measure its carbon footprint and report climate action.
Startup to sell traceable certificates for Scope 3 emission cuts in transport
A Madrid-based startup is offering the travel industry verified Environmental Attribute Certificates (EACs) to help decarbonise Scope 3 emissions because traditional carbon offsets are “increasingly inefficient”.
SMEs supported with measuring emissions, accessing climate projects through bank initiative
Small- and medium-sized companies in the portfolio of an Italian bank will be supported in measuring their carbon emissions, developing a CO2 emissions reduction pathway, and funding climate mitigation projects through an initiative with a climate consultancy.
INTERNATIONAL
Higher ambition NDCs, reinvesting carbon revenues would boost GDP, finds OECD
A scenario whereby countries increase the ambition of their Nationally Determined Contributions (NDCs) under the Paris Agreement would increase global GDP up to 3% by 2050 due to avoiding significant economic losses, while reinvesting carbon revenues could bolster GDP further, the OECD has found.
CCS hits turning point, but trajectory still falls short of 2050 net zero goal, analysts find
Carbon capture and storage (CCS) is at a turning point after a rush of investment, but the gap between ambition and reality for 2050 remains a chasm, according to DNV’s new Energy Transition Outlook CCS to 2050 report.
Oxford principles aim to define integrity, avoid greenwashing in Article 6 carbon markets
Countries, companies, and other organisations need to be careful how they use and account for emissions reductions traded under Article 6 of the Paris Agreement, the University of Oxford said in a report setting out three principles for ensuring that the new international market does not become an avenue for greenwashing national and corporate climate action.
BRIEFING: New metric for global warming potential risks derailing methane cuts, ease pressure on agriculture
Adopting the contested ‘Global Warming Potential*’ metric could let major agricultural emitters sidestep significant methane cuts by “grandfathering” past emissions, and shifting focus away from urgently needed reductions, experts warned during a briefing on Tuesday.
BIODIVERSITY (FREE TO READ)
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UNOC: Indonesia coral bond hopes to raise up to $120 mln
The Indonesian coral bond was soft launched on Wednesday at the UN Ocean Conference (UNOC) with an expected raise of $100-120 million.
UNOC: Development banks pledge €3 bln to fight marine plastic pollution
Six major development banks have committed to a €3-billion financing target over the next five years to combat ocean plastic pollution as an extension to the Clean Oceans Initiative (COI).
UNOC: French Polynesia takes lead as some countries join race to expand marine protected areas
French Polynesia unveiled plans at the ongoing UN Ocean Conference (UNOC) to establish the world’s largest marine protected area (MPA) to date, with a handful of other countries joining efforts to close the gap on sea conservation goals.
UNOC: 35% of global fisheries ‘unsustainably exploited’, FAO analysis finds
More than a third of the world’s fish stocks are unsustainably exploited, a UN FAO report launched on Wednesday at the UN Oceans Conference (UNOC) has found, although it said some species are recovering.
Global area available for forest restoration overestimated by up to 92%, study says
The global land area available for forest restoration has been significantly overestimated so far, as previous assessments overlooked key drawbacks, including potential negative impacts on biodiversity, according to a paper released on Wednesday.
UK coalition urges govt to regulate nature markets in new proposal
A coalition of public and private organisations published a proposal on Wednesday to scale up the UK’s nature credit market, warning that businesses are unlikely to participate without government regulation.
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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.**
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