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TOP STORY
SB62: Annex I for Adelaide? Turkiye’s “bargaining chip” in battle to host COP31
Turkiye has indicated a willingness to drop its competing bid for the 2026 UN climate summit and let Australia and Pacific island nations host COP31 in Adelaide, sources told Carbon Pulse, but what Ankara wants in return may prove too steep a price to pay.
*NEW* DAILY NEWS TICKER
CP Daily News Ticker: 25 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.
LONDON CLIMATE ACTION WEEK 2025
Only fraction of companies planning SBTi targets are buying carbon removals, says investor
Only 200 of the thousands of companies planning to have climate targets validated by the Science Based Targets initiative (SBTi) are buying carbon removals, according to an investor.
BRIEFING – Article 6 is pushing all carbon project developers to follow Paris-aligned standards, experts say
International carbon trading through Article 6 may be slow to pick up, but it is already pushing the voluntary market to converge around the same minimum standards, in line with the Paris Agreement’s goal of a 1.5C limit on warming, according to market experts speaking during London Climate Action Week.
Outcome bonds set to launch to preserve intact forests in remote locations
A global non-profit expects to soon launch as many as three outcome bonds linked to maintaining the ecological integrity of remote rainforests far from corporate supply chains, which otherwise fall outside the scope of the voluntary carbon market, an event heard in London on Wednesday.
UK weighs up mandatory transition plans for finance and big business
The UK government is considering options to require financial firms and large companies in the country to develop and implement credible transition plans in line with limiting global warming to 1.5C, it announced on Wednesday.
Transition credits, EU ETS touted as key engines to phasing out coal
Transition credits and the EU Emissions Trading System (ETS) are key levers to bring forward coal-fired power plant retirements, government officials said in London on Wednesday.
Regulation critical to scaling industry decarbonisation beyond pilot phase
The decarbonisation of hard-to-abate sectors like steel and cement is no longer confined to roadmaps and pilot plants – but regulatory intervention is now essential to unlock scale, experts said at a London event on Wednesday.
Social impact assessment tool launches for carbon, nature projects
A conservation business unveiled a participatory approach for evaluating how projects impact local people on Wednesday at London Climate Action Week (LCAW).
VOLUNTARY
Microsoft buys millions more in nature-based carbon removal credits
Technology company Microsoft has unveiled yet another large forward-purchase deal for large-scale carbon removal, inking a 10-year contract for around 5 million improved forest management (IFM) credits.
Owner of TikTok buys 100k tokenised carbon credits
One of China’s largest technology companies, and the owner of the social media platform TikTok, has bought more than 100,000 tokenised carbon credits, it announced on Wednesday.
OECD urges govts to tackle greenwashing, influence demand in carbon markets
Governments must play a larger role in carbon credit markets by stepping up efforts to reign in greenwashing while boosting demand, according to an OECD working paper released Wednesday that examined how policymakers can enhance integrity.
Fashion giants fall short on supply chain decarbonisation, carbon removals -report
Most major fashion brands lack credible plans to decarbonise their supply chains or neutralise residual emissions, with only H&M investing in durable carbon removals to support its net zero target, according to a report published Thursday.
Carbon markets alone will not help biochar scale, developer says
The head of a large US biochar producer told an Australian conference Wednesday that government subsidies and policy support will be needed to scale the industry, saying demand for carbon removal credits will not be enough.
Soaring energy use, weak accounting undermine tech sector’s net zero plans -report
The climate strategies of major tech companies are becoming increasingly unfit for purpose, as rising energy demand from artificial intelligence (AI) and reliance on outdated accounting rules cast doubt on their ability to meet net zero goals, an analysis published Wednesday has found.
INTERNATIONAL
SB62: Tensions over finance, unilateral trade measures continue to slow climate talks in Bonn
Countries are clashing over how to advance the commitment made two years ago to transition away from fossil fuels, while frustration among developing countries over the lack of space to discuss unilateral trade measures and climate finance continue to fuel tension as the mid-year UN climate talks near the finish line in Bonn.
SB62: UN rules out corporate neutrality claims for Article 6 ‘mitigation contribution’ credits -sources
The UNFCCC Secretariat has confirmed that Mitigation Contribution Units, a form of carbon credits generated under Article 6.4 of the Paris Agreement, should not be used towards corporate carbon neutralisation claims, according to multiple sources.
Four out of 10 net zero technologies to outcompete fossil fuels by 2030 -analysis
Almost 40% of clean technologies needed to reach net zero emissions are either already cheaper than fossil fuels or will reach this tipping point by 2030, up from just 10% in 2023, according to research published Wednesday.
UNDP seeks experts for global push on high-integrity carbon markets
The United Nations Development Programme (UNDP) has launched a global call for technical experts to join a new roster supporting the development of high-integrity carbon markets, as part of its broader Climate Promise 2025 strategy aimed at aligning national climate pledges with the 1.5C target under the Paris Agreement.
EMEA
Over half of EU countries urge ETS2 reforms to keep prices in check
Fifteen EU member states have issued a joint warning over the risk of rapid price increases in the upcoming Emissions Trading System for buildings and road transport (ETS2), urging the European Commission to swiftly consider a package of reforms to safeguard public acceptance ahead of the scheme’s planned 2027 launch.
INTERVIEW: Rockwool CEO warns of social risks linked to EU ETS2
The head of insulation giant Rockwool is urging EU policymakers to tread carefully as they implement the new Emissions Trading System for road transport and heating fuels (ETS2), warning that the scheme risks triggering social backlash if not paired with strong incentives and clear communication for homeowners.
Germany finalises cancellation of 500k EU ETS allowances linked to 2022 coal plant closures
Germany has finalised the cancellation of around 500,000 EUAs linked to the closure of coal-fired power plants in 2022, in a bid to ensure that its phaseout of the polluting fuel source delivers genuine climate benefits.
Germany’s new budget positions gas as transition fuel
Natural gas retains a key role in Germany’s energy transition under a new national budget adopted by the federal government on Tuesday.
EU releases updated state aid rules for Clean Industrial Deal, setting 2040 cut-off date for gas
The European Commission has unveiled new state aid rules under its Clean Industrial Deal, setting a firm 2040 deadline for phasing out public support for natural gas-based technologies in industrial decarbonisation, while carving out limited flexibilities for their use during the transition period.
European utilities still earning billions in subsidies for gas-fired power capacity -report
A group of 10 European utilities have secured €21.4 billion worth of contracts over the past decade for their gas-fired power plants through government-backed support schemes for back-up power capacity, according to a report published Thursday.
EU strikes deal on updated winter gas storage rules, adding new flexibility
The European Parliament and Council of EU member states reached agreement on Monday evening to inject greater flexibility into the bloc’s gas storage filling obligations ahead of next winter, in a bid to lower the cost of refilling during summer.
UK govt should invest more in carbon capture, tighten rules on methane emissions, say non-profits
The UK government must invest more in carbon capture technologies as soon as possible to help stoke demand and de-risk corporate purchases, as well as tighten rules on methane emissions, non-profit organisations have urged this week.
Ethiopia to mobilise over $3 bln via clean cooking roadmap
The government of Ethiopia has launched a national clean cooking roadmap aimed at mobilising more than $3 billion to expand the access to clean cooking solutions to more than 76% of the population, an estimated 91 million people, by 2035.
Euro Markets: EUAs drop back to low end of recent range as selling increases around options expiry
European carbon prices slumped on Wednesday as renewed selling both before and after the expiry of June options dominated the session, with selling interest picking up as prices weakened after the daily auction, while gas and power prices weakened slightly as several days of volatility appeared to be nearing an end.
AMERICAS
California offset issuance ramps up, invalidation expiry more than doubles
California regulator ARB issued more than 150,000 credits over the last two weeks, after a lull in the previous period, while the invalidation period for nearly 1.7 mln units expired, state data released Wednesday showed.
Democratic states take aim at Trump administration’s legal rationale for grant termination
A group of US states is asking a federal court to define the legal meaning of a single clause within a regulation that the Trump administration has relied upon to cancel hundreds of Congressionally-approved grants, including those funding climate and clean energy programmes.
Colombian president claims carbon credits are violent “scam” amid political fissures
Colombian President Gustavo Petro earlier this month stated that the voluntary carbon market (VCM) is a “scam” perpetuating armed violence and a form of modern slavery, prompting a rebuke Wednesday from the industry and revealing domestic political fractures in this prominent VCM hub.
Chilean high council approves draft NDC, biodiversity offsetting regulation
Chile’s Nationally Determined Contribution (NDC) climate targets on Wednesday secured late-stage approval by a high-level council of ministers, who simultaneously gave the green light to a regulation on biodiversity offsetting.
BRIEFING: Brazil risks falling behind on Article 6, stakeholders warn
Brazil’s current approach leaves it lagging in the race to supply Internationally Transferred Mitigation Outcomes (ITMOs) under Article 6 of the Paris Agreement, stakeholders said at a conference this week.
Brazilian developer invests in UK-headquartered climate tech firm to scale soil carbon portfolio
Brazilian carbon project developer Carbonext has acquired a minority stake in a UK-headquartered climate tech firm, aiming to diversify its project portfolio and scale regenerative agriculture practices amid growing demand for high-quality carbon removals credits.
Burying forest waste unlocks a large-scale CDR opportunity to reach net zero in US -study
Academic research established that burying woody debris from forests for 100 years could keep as much as 769 billion tonnes of CO2 from the atmosphere between 2025 and 2100, and the carbon removal (CDR) solution can be further maintained for thousands of years.
California awarded $15 mln to support tribal communities, clean economy growth
California Governor Gavin Newsom (D) announced $15 million in grants on Wednesday to 14 tribal communities across the state, which included funding to build career pathways in the clean economy and to construct a bioenergy production facility.
ASIA PACIFIC
Singapore Airlines sees emerging SAF credit demand, but says emissions cuts will come from better planes
Some demand for sustainable aviation fuel (SAF) credits is emerging, though numbers remain small in the nascent market, Singapore Airlines (SIA) said Wednesday.
Greens, Greenpeace slam New Zealand for Beyond Oil and Gas Alliance exit
The New Zealand government has come under fire for reportedly quitting the Beyond Oil and Gas Alliance (BOGA), which it helped found in 2021 as an associate member.
Net zero goals need NZ$24 bln in electricity investment in next 30 years -report
Meeting New Zealand’s net zero goals will require NZ$24 billion ($14.5 bln) in capital investment above baseline demand over the next three decades, found a new report.
Australia interested in updating emissions inventory to include biochar, conference hears
Australia is keen to make regulatory changes that would allow biochar production to earn Australian Carbon Credit Units (ACCUs), an expert told a conference Wednesday while presenting research highlighting its massive emissions abatement potential.
Japanese developer to expand biochar production, create credits in Africa
A Japanese project developer has received government support to expand its presence in Africa, where it aims to create carbon credits from improving soil through biochar production.
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.
FEATURE: Major Canadian bill paves way for setting aside environmental protections
Canada’s federal government is days away from rubberstamping new powers that will allow it to opt out of the country’s core environmental protection policies to approve unnamed “national interest projects”, experts say.
Switzerland needs $6.5 bln annually to 2050 to meet nature goals, bankers association says
An association of Swiss bankers has released a study estimating that the country’s nature transition requires an investment of CHF 5.3 billion ($6.5 bln) every year to 2050, highlighting a current investment gap of CHF 2.1 bln per year.
Investors managing $4 trillion ask companies to phase out hazardous chemicals
Some 43 investors managing over $4 trillion in assets sent a statement on Thursday to chemical companies, urging them to phase out hazardous chemicals to protect biodiversity.
Europe’s biggest firms largely overlook biodiversity financial risks -report
Only 16% of the 50 largest European energy and manufacturing companies currently address the financial impacts of biodiversity loss, which indicates potential blind spots in their risk management strategies, according to a report released this week.
Alberta commits C$55.8 mln to caribou habitat recovery, reforestation
Alberta will invest C$55.8 ($40.6) million over six years to plant five mln trees and restore critical woodland caribou habitat, the provincial government announced Tuesday.
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EVENTS
Carbon Forward Expo London: Oct. 7-9, London – Europe’s premier carbon markets conference. Our flagship event takes place in London once again, and will celebrate its 10th year analysing global carbon markets. Over three information-packed days, we’ll bring you leading experts, thought-provoking content, trailblazing organisations, lively discussions, and innovative thinking across the compliance, voluntary, removal, and renewable energy markets. This year’s edition will feature more side events, workshops, and our inaugural Startup Pitch Hub! More details and a call for proposals to follow. Super Early Bird discounts now available. Register
Carbon Forestry 2025: Aug. 19-20, Rotorua – The 2025 Carbon Forestry Conference draws foresters, managers, advisers, and lawmakers to discuss policy and market changes. Director John Stulen calls it a vital forum for the sector. Key topics include the Climate Change Commission’s latest advice on NZ ETS unit limits and price controls for 2026-30, aiming to restore confidence in emissions trading. Also central is the ‘Alt-F Reset’ report from the Parliamentary Commissioner for the Environment, which raises new, sometimes counterintuitive, ideas for land use adaptation. The event will shape future forestry and climate policy in New Zealand. Register
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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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