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TOP STORY
FEATURE: Focus of EU’s 2040 climate target shifts to “enabling conditions” for delivery
The European Commission has outlined 18 “enabling conditions” in its 2040 climate target plan, unveiled this week, as the political conversation shifts towards the prerequisites for achieving the bloc’s goal of cutting emissions by 90% below 1990 levels by the end of the next decade.
*NEW* DAILY NEWS TICKER
CP Daily News Ticker: 4-6 July 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 unveils sweeping cuts to EU Taxonomy “red tape” for businesses
The European Commission on Friday unveiled a package of measures to slash “red tape” on companies subject to the EU Sustainable Finance Taxonomy, saying this will bolster the EU’s competitiveness while preserving the bloc’s climate ambitions.
UK greenlights major offshore wind farm in bid for clean energy resurgence
The UK government has approved the massive Mona Offshore Wind Farm – comprising 96 turbines – for construction, as part of its strategy to reignite the British renewable energy sector.
EU ETS-financed fund shrinks support for fossil energy, but loopholes remain, NGO says
The EU ETS-financed Modernisation Fund is going in the right direction, as the latest investment round awarded the lowest amount of revenue to fossil fuel projects so far – but some environmentally damaging projects are still receiving funds, an NGO said on Friday.
Tanzania’s carbon project registrations picking up following new rules -minister
Tanzania has registered more than 70 projects since it established carbon trading rules three years ago, helping to strengthen its governance and transparency, a minister said this week.
Importing green energy-intensive products may boost EU’s industrial decarbonisation -report
Importing green energy-intensive products such as ammonia and reduced iron could help decarbonise European industry by reducing clean electricity demand by more than 500 TWh, while also supporting industrial growth in renewable-rich developing countries, according to a policy brief published Thursday.
Euro Markets: EUAs scrape 1% weekly gain after prices ease lower in thin trading amid US holiday
European carbon prices snapped their three-day winning streak in a quieter-than-usual session on Friday due to a US public holiday, as prices broke below an important technical level before buyers responded to stabilise the market, allowing the front-December contract to post a 1% weekly gain.
AMERICAS
Canada invests over C$21.5 mln into CCUS projects
Natural Resources Canada is investing over C$21.5 million ($15.8 mln) into five carbon capture, utilisation, and storage (CCUS) projects in Alberta, the federal government announced Friday.
Watchdog urges Google to exit carbon markets, calls into question its emissions reporting
A US-based environmental advocacy group has recommended that Google withdraw from all carbon market related activities and instead prioritise direct investment in renewable energy infrastructure, while claiming that the tech giant is underreporting its emissions.
Amazon has the potential to generate around 1.8 bln carbon credits annually –report
The world’s largest rainforest, Amazon, has the potential to generate 1.3 billion REDD+ and 49.1 million afforestation, reforestation and revegetation (ARR) carbon credits annually, according to a report published on Friday.
NGOs call on COP30 Presidency to promote creation of $125 bln conservation programme
Civil society organisations urged Brazil to spearhead a global pact to mobilise $125 billion in large-scale, long-term finance to address one of the world’s most critical climate tipping points, in a joint letter delivered Friday.
BioCarbon Standard launches two nature-based credits methodologies for public consultation
BioCarbon Standard, the Colombia-based nature certification standard, published this week methodologies for water credits, improved forest management, and avoided planned forest conversion.
ASIA PACIFIC
NZU stockpile shrinks by nearly 24 mln, EPA figures shows
The volume of privately held NZUs has shrunk by some 23.8 million, according to government figures published Monday as a result of the May 31 surrender deadline and the ongoing trend of auctions declining.
Australia carbon market oversight body launches consultation on animal effluent method
Australia’s Emissions Reduction Assurance Committee (ERAC) is seeking feedback to extend the crediting period for the animal effluent method under the Australian Carbon Credit Unit (ACCU) Scheme.
CN Markets: CEAs hold above RMB 70 amid stable liquidity, exchange unveils bidding mechanism
Permit prices in China’s national CO2 emissions market remained stable over the past week, with trading activity expected to gradually pick up as the compliance deadline looms.
Carbon market industry body head to move to Net Zero Economic Authority
The outgoing head of Australia’s carbon market industry body is set to begin a new role at the newly created Net Zero Economy Authority (NZEA) later this month, he told Carbon Pulse.
Australia pours A$432 mln into another renewable hydrogen project
The Australian government has committed up to A$432 million ($283.6 mln) in renewable hydrogen funding to a project tied to a Safeguard Mechanism facility, it announced Friday.
Japan’s major banks, trading houses under fire for failing to manage climate risks
Japan’s largest banks, trading houses, and a major power supplier are “failing to take climate risk seriously enough”, a group of environmental groups said Friday, following results from annual general meetings this week.
Investor group ups offer for Indian renewable energy, carbon project giant
One of Asia’s largest carbon project developers has received a final offer to take it private from a consortium of heavyweights who have upped its prior bid by over 13% per share.
Addressing river pollution could enhance carbon storage potential, scientists find
A method of removing pollution from rivers was found to boost the population of an aquatic microorganism that uptakes CO2, according to research published by Asia-based scientists.
VOLUNTARY
Carbon credit issuance slumped 10% since January, finds analysis
Carbon credit issuance crunched lower in the first half of 2025 as the project developers switched to providing newer vintages for an increasingly integrity-conscious market, according to data published Friday.
Standards body introduces laser tech into MRV for trees
A Paris-based standards body is upgrading its methodology to include laser-guided technology to monitor and verify trees in three dimensions, as it steps up its rivalry with Verra.
Sacred sites should be included in carbon credit markets, study says
An academic paper has called for faith-managed forests at sacred sites to be eligible for participation in voluntary carbon markets, after calculating the value of carbon stocks and biodiversity conservation at a Buddhist monastery and site of worship in southern Taiwan.
INTERNATIONAL
Green Climate Fund board greenlights projects worth over $1.2 bln
The Green Climate Fund (GCF) board has this week approved over $1.2 billion for new climate projects for developing countries, it announced Friday.
BRICS must drive global green growth, just transition -report
BRICS nations must go beyond clean energy investments and lead the charge in tackling barriers in global trade and finance to reshape the global economic system, according to a report released this week.
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COMPLIMENTARY REPORTS
CBAM: Break for the Border (Mechanism) – To what extent are the European Union’s top trading partners ready for embedded emissions reporting and how can this risk their compliance with EU CBAM? Wood Mackenzie’s Carbon Management experts share insights on the EU led global growth of CBAMs and how companies can be better prepared for upcoming compliance challenges and unique MRV requirements. Click here to access this complimentary report
Designing Carbon Registries for Success – Carbon registries are key to enhance environmental market integrity and transparency. S&P Global Commodity Insights’ whitepaper offers insights into technology options for countries to engage in carbon markets, including independent standards and national programs, emphasizing the need for interoperability to prevent double counting and streamline data exchange. It helps guide market participants on considerations for alignment with Article 6 of the Paris Agreement, which facilitates international cooperation in climate action through market-based mechanisms. It features case studies from countries like Ghana and Singapore, showcasing strategies for maximizing carbon credit utilization and advocating for adaptable registry designs to support nations’ low-carbon transitions. Click here to access this complimentary report
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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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