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TOP STORY
EU set to allow imported carbon credits for 2040 climate target -Bloomberg
The European Commission is set to propose plans allowing for limited imports of international carbon credits to help the EU meet its upcoming 2040 climate target, according to a draft document seen by Bloomberg.
*NEW* DAILY NEWS TICKER
CP Daily News Ticker: 27-29 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
Brazil optimistic about tropical forest funding facility after London talks
A Brazil-led innovative financing model, designed to fight tropical deforestation, is said to be within reach following talks between government officials and philanthropies in London.
VOLUNTARY
Google emissions climb 6% in 2024, carbon removal credit purchases up 14-fold
Google’s total greenhouse gas emissions rose by more than 6% in 2024, while the tech giant’s portfolio of contracted carbon removal credits increased 14-fold year-on-year.
Dutch project developer sells carbon credits at average of €22 in primary market
A Dutch project developer has sold voluntary credits at an average of €22.28 ($26), higher than originally estimated, it revealed Friday.
Preserving forest debris could remove nearly a trillion tonnes of CO2 by 2100 -study
Burying wood waste from managed forests could remove almost 1 trillion tonnes of CO2 from the atmosphere by the end of the century, according to a new study.
Zooplankton migration a big source of CO2 storage in Southern Ocean, study finds
The seasonal migration of zooplankton such as krill plays a key role in storing CO2 in the Southern Ocean, though these dynamics are at risk of being disturbed by climate change, a new study has found.
Spanish nature-based CDR developer announces 50-year partnership to capture 160k tCO2
A developer of nature-based carbon removal (CDR) projects announced a partnership with a real estate developer to restore 200 hectares in western Spain for the next 50 years with expectations to capture over 160,000 tonnes of CO2.
EMEA
Difficult to quantify UK ETS role in verified emissions decline, says govt accounting office report
The UK has seen emissions from sectors covered by its ETS decline over the four years since the market was established, but “it is difficult to isolate the [market’s] contribution to this performance”, and efforts should be made to better understand the role of allowance prices in driving investment in low-carbon alternatives, according to a report by the British government’s auditor.
UK confirms ‘one-in, one-out’ approach to CDR inclusion in ETS
The United Kingdom is committed to include permanent, high-quality carbon removals (CDR) into its Emissions Trading Scheme (ETS), a senior official confirmed, saying the government will initially follow a strict ‘one-in, one-out’ approach where each tonne of CO2 removed from the atmosphere is matched by a corresponding allowance withdrawn from the market.
More time needed to debate EU’s 2040 climate goal, France says
The EU needs time for a genuine democratic debate on the bloc’s next climate target for 2040, according to French President Emmanuel Macron, who has pleaded for decoupling the negotiations from the EU’s 2035 contribution to the UN due in September.
Bank raises 2026 EUA price forecast on tightening supply
Analysts at a bank have raised their expectations for 2026 European carbon allowance prices by 5%, driven by tightening supply, but cautioned that there is still significant uncertainty around free allocation policy and ongoing trade conflicts.
Financial frictions blunt EU ETS hedging ability of emitters, researchers warn
Financial constraints are preventing companies in the EU ETS from fully protecting themselves against volatile allowance prices, pushing up costs and distorting trading patterns, according to new research.
Euro Markets: EUAs bounce back on steady buying amid macro optimism as gas extends losses
EU carbon allowance prices rebounded modestly on Friday after falling to their lowest in nearly four weeks, trimming the weekly loss to 2.8% as the market found support from bullish-positioned traders and enjoying a tailwind from record equity index levels in the US, even as European gas continued to retreat amid easing supply constraints.
Nordic fund signs deal with clean cooking carbon developer to scale rollout
A Nordic climate funding initiative in Africa has signed an agreement to support a clean cooking developer scale its bioethanol solution, it announced this week.
Congo lowers forest emissions baseline in revised plan for REDD+ payments
The Republic of the Congo has submitted a revised estimate of its forest-related greenhouse gas emissions, lowering its baseline for future results-based payments under the UN’s REDD+ framework to just under 31.7 million tonnes per year.
ASIA PACIFIC
CN Markets: China carbon prices continue to see recovery, liquidity improves
Prices in China’s national carbon market continued their recovery for the third consecutive week, with trading volumes almost doubling from the previous week.
Australia’s next NDC could lead to drastically steeper ACCU prices -analysis
Australia’s next Nationally Determined Contribution (NDC) will likely create the need for faster Safeguard Mechanism baseline decline rates, potentially leading to vastly higher Australian Carbon Credit Unit (ACCU) prices, according to analysis shared exclusively with Carbon Pulse.
Australia opens sea dumping CCS consultation
Australia on Friday began a public consultation process for sea dumping carbon capture and sequestration (CCS), releasing draft guidance documents for domestic projects.
Japanese partners test novel chemical loop that produces electricity, hydrogen, and CO2
A partnership of Japanese companies has begun demonstration testing for a new technology that produces electricity, hydrogen, and CO2 simultaneously via firing of biomass and have been selected for a grant programme from research and development agency the New Energy and Industrial Technology Development Organisation (NEDO).
AMERICAS
LCFS credit prices briefly soar 13% following approval of programme changes
California’s Low Carbon Fuel Standard (LCFS) credit prices briefly raced almost 13% higher on Friday after the Office of Administrative Law (OAL) signed off programme amendments, with updated carbon intensity (CI) benchmarks set to apply to fuel transactions beginning July 1.
California announces nearly $5 bln in road infrastructure, transit electrification
California Governor Gavin Newsom (D) on Friday announced nearly $5 billion of investment in state transportation infrastructure, including projects to increase infrastructure for zero-emissions vehicles (ZEV).
California regulator ARB repeals zero-emissions locomotive regulation -media
Members of California regulator ARB unanimously voted on Thursday to repeal its In-Use Locomotive Regulation, which sought to phase out the use of diesel-powered locomotives and promote zero-emissions technologies.
CFTC: Producers axe CCA, WCA net length in favour of RGAs amid temperature rise in US Northeast
Producers reduced their California Carbon Allowance (CCA) and Washington Carbon Allowance (WCA) holdings, and instead boosted RGGI Allowance (RGA) net length in light of increasing temperatures in the US Northeast earlier this week, latest figures from the Commodity Futures Trading Commission (CFTC) showed Friday.
Low staffing at DOE clean energy office created vulnerabilities in hydrogen hub programme -audit
A recent federal audit has found that staffing issues at the DOE’s Office of Clean Energy Demonstrations (OCED) could be negatively impacting the Regional Clean Hydrogen Hubs programme by making it more vulnerable to risks.
Canadians divided on bypassing environment for nation-building projects -survey
Canadians appear conflicted over a federal bill that could fast-track projects at the expense of the environment, according to a recent survey.
Accounting clarity, regulatory body placement are key in Brazil’s ETS process -experts
The development of Brazil’s incoming emissions trading system (ETS) will hinge on clarifying the accounting treatment for carbon credits and where the compliance market’s regulatory body will sit, experts said this week at a conference.
Dense, unscathed forests of Brazil’s Amapa found to hold Amazon’s highest carbon stocks
Brazil’s remote state of Amapa holds the highest biomass density in the entire Amazon Basin, according to a new scientific study that calls for tougher protections on its vast, relatively unscathed forests to help curb climate change.
INTERNATIONAL
UN launches climate policy impact tool to aid developing countries
A new modelling interface to gauge the impact of climate policy scenarios, such as carbon pricing, has been launched by the UNFCCC and the Katowice Committee of Experts (KCI), which aims to bring socioeconomic considerations to the fore when developing climate policy.
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.
INTERVIEW: Time for nature markets to take on connectivity credits
Environmental markets should prioritise maintaining and restoring ecological connectivity, as countries worldwide are facing massive infrastructure buildout with great impacts on biodiversity, an expert told Carbon Pulse.
South Africa considers shift of public funds for conservation, restoration
South Africa’s environment ministry could allocate more public resources towards conservation and restoration programmes, following an internal spending review.
Nordic countries urged to set up regional biodiversity market
Nordic countries should consider establishing a regional biodiversity offsetting market to complement the EU’s nature credit scheme being developed by the European Commission, a climate non-profit said in a position paper this week.
UNEP targets gap in nature insurance risk assessment
A UN Environment Programme (UNEP) working group this week released a report seeking to address a gap in guidance on nature-related assessments for insurance underwriting portfolios.
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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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