A Swiss developer of forestry projects and a China-based manufacturer of biomass pyrolysis technology on Tuesday announced a partnership to develop durable carbon removal (CDR) projects in Paraguay.

Australia's climate change minister on Tuesday rejected calls for a carbon tax to cut the nation’s emissions, denting the hopes of a growing number of experts who have recently been calling for a tax on CO2.

Mark the dates - The Tokyo Stock Exchange is seeking public comments to change the settlement schedule for GX Credits on its carbon trading platform, according to a notice. The exchange has been entrusted with GX credit trading by government-commissioned Nomura Research Institute. It plans to change the settlement date to the 10th trading day, counting from the day when the trade is executed, from the previously sixth trading day.

Floating liquefied natural gas (FLNG) export plants are becoming more popular on the global LNG market, boasting speed, flexibility, and cost efficiency, and with capacity expected to triple by 2030, analysts predict.

A working group under Japan's trade ministry (METI) has proposed an initial decision-making framework to set up benchmarks for the manufacturing sector under the country's emissions trading scheme.

Indonesian clean energy - Indonesia’s Pertamina New & Renewable Energy and France’s Verso Energy signed an MoU Tuesday to co-develop clean energy projects, including synthetic fuels based on green hydrogen and biogenic CO2, the companies said in a press release. The deal includes a cross-investment scheme and aims to boost technology transfer and decarbonisation efforts in both countries.

Malaysian partnership - The Malaysia Carbon Market Association and the Malaysian Photovoltaic and Sustainable Energy Industry Association signed an MoU to support the country’s net zero goals, deepening cooperation in carbon market participation, renewable energy uptake and capacity building. The Malaysian government is expected to introduce its National Climate Change Bill to parliament in the coming weeks, which will include provisions for carbon market mechanisms aimed at reducing industrial greenhouse gas emissions and incentivise emissions trading.

A growing need for decarbonised data centres is fueling demand for gas-fired power plants coupled with carbon capture and storage (CCS), and hyperscalers are possibly the only ones willing to pay the cost premium even though the plants are far from economic, experts say.

The world’s richest economies are failing to deliver on steel decarbonisation, despite improved policy frameworks, with project cancellations, high energy costs and geopolitical tensions threatening progress, according to a scorecard published Tuesday.

The administration of Japan's domestic J-Credit scheme has approved 51 projects capable of creating around 1.5 million units over their lifetimes, according to a recent notice.

Australia must narrow its green hydrogen focus and zoom in on value-add projects if the government is serious on developing a clean new industry and lowering emissions, a note from a think tank said Tuesday.

New funds - Japan's Mitsubishi UFJ Capital has made an additional investment in climate startup Archeda through a fund it manages, the company announced Tuesday. Archeda develops solutions for carbon offset projects using satellite data, particularly forests, rice paddies, and mangroves. The exact investment amount was not disclosed in the statement.

Malaysia’s planned carbon tax, due to take effect in 2026, could generate nearly RM 1 billion ($213 million) annually for government coffers while placing added pressure on emissions-heavy sectors, a research note by BIMB Securities said Tuesday.

The New South Wales Environmental Protection Authority (EPA) in Australia launched a consultation Tuesday on new requirements and guidance for industry to cut GHG emissions, starting with coal mines.

Coming soon - South Korea's Hyundai Steel aims to begin mass production of low-carbon steel in early 2026, as part of its strategy to secure new customers and enhance global competitiveness, according to a recent company statement. It has previously set a target of having an annual production capacity of 5 mln tonnes of low-carbon steel products by 2030. The steelmaker, which supplies products to Korean car brands like Hyundai Motor and Kia, recently also announced a $5.8 bln investment to establish an electric arc furnace-based integrated steel mill in Louisiana.

Catastrophic costs – Insurers are consistently seeing insured losses in excess of $100 bln annually due to natural catastrophes, said insurance company Willis on Monday. In the latest installment of its biannual Natural Catastrophe Review, the firm said this is putting a strain on global insurance markets and that events in 2025 so far indicate that this year will again see losses exceed $100 bln – with the Los Angeles fires in February alone accounting for an estimated $40 bln. Amid a changing climate, risk managers need to reassess things and integrate climate forecasts into their plans, and ensure their risk frameworks are set up for evolving threats, the firm said.

The legal clarity on countries’ climate obligations stemming from last week’s advisory opinion from the International Court of Justice (ICJ) can change how Pacific Island nations engage with other states, and could potentially open the door to lawsuits being filed against countries with weak climate targets, according to experts.

Mango pilot – India's largest development bank has begun a pilot project in the southern state of Karnataka to generate carbon credits from mango plantations that are less than five years old, the Times of India reported on Monday. The pilot involves 3,500 mango farmers, and will use biomass management. The earning potential for farmers lies between INR 20,000-40,000 ($230-430) per ha, the officials said, citing a similar project in a neighbouring state. According to the newspaper, farmers in the region don't understand the concept of carbon credits and one farmer activist said the project is exploiting farmers' vulnerability as mango prices have crashed.

Heating up – NGO Australian Alliance for Energy Productivity is accepting applications for grant funding for its Australian Industry Renewable Heat Accelerator, it announced Tuesday. Up to A$270,000 ($176,105) has been made available, with individual grants up to A$20,000 on offer. The accelerator seeks to support a broad range of mass market industries, including food and beverage, agriculture, and textiles, shift from gas to renewable energy process heat. Funding will be allocated under two streams: industry bodies, and manufacturers, producers, and processors. The accelerator is accepting funding applications until Oct. 3.

Making progress – Queensland's Kestrel Coal Resources has made progress on its fugitive emissions capture project at its coal mine covered under the Safeguard Mechanism, it announced last week. Kestrel received state government funding for the project last year, and since then has selected low-carbon energy solutions provider Enernet Global to develop, construct, own, and operate a 30 MW power station that will be powered by the captured methane. Enernet has engaged GHD to secure a grid connection approval, and have been working with state grid authorities, with the connection application process expected to be completed by spring. Once complete, the project, registered with the Clean Energy Regulator to generate ACCUs, is expected to reduce emissions by 1 MtCO2e.

Energy tender – The New South Wales state government is seeking bids for a tender for 500 MW of firming capacity as a way to address potential shortfalls in the summer of 2027-28, it announced on Tuesday. The tender is for firming infrastructure such as batteries, gas generation, and virtual power plants that can rapidly supply electricity to the grid or reduce the use of electricity at short notice, the government said in a statement. ASL will conduct the tender later this year, and priority will be given to projects that can supply the Sydney, Newcastle, and Wollongong areas, where the shortfalls are forecast during times of peak period, it said. The announcement comes on the same day as the federal government announced an 8 GW expansion of its Capacity Investment Scheme.

Repeated findings – For the seventh year in a row, Australia's peak science body, the CSIRO, has found renewables remain the lowest-cost option for new low-emission electricity generation. Its GenCost 2024-25 report found large-scale solar PV remains the strongest performer, falling 8% for the second year in a row. However, battery costs saw the biggest annual reduction, down 20%, while gas turbine costs increased the most. The CSIRO collaborates with the Australian Energy Market Operator (AEMO) to update the costs of electricity generation, energy storage, and hydrogen production, describing the GenCost report as the most comprehensive electricity generation cost projection report. YoY change in current capital costs of selected technologies in the past 3 years (in real terms). Source: CSIRO

The Australian government will boost the number of renewable energy and storage projects it underwrites through its Capacity Investment Scheme (CIS) in a bid to reach its clean energy targets, local media reported Tuesday.