EU ETS revenues from the aviation sector could increase tenfold in the next 15 years if emissions from international flights and greenhouse gases other than CO2 were included in the market, according to analysis released on Monday.

Road (not) to Belem? – Diplomats from 25 countries have suggested that Brazil hold COP30, either entirely or partially, in another city if the issue of exorbitant prices in Belem is not resolved soon. Less developed countries, the African Group of Negotiators, as well as nations such as Canada, Finland, and Switzerland, signed the document, Folha de S.Paulo reported. The group requested that the Brazilian government ensure minimum acceptable price conditions for participants. The Extraordinary Secretary for COP30, representing the Brazilian government, told Folha that there is no possibility the climate conference will be held anywhere other than Belem. In an interview with local outlet G1, Andre Correa do Lago, president of COP30, stated that there is a sense of revolt with the high costs, particularly among developing countries, which are pressuring Brazil. While accommodation prices at previous COPs typically doubled or tripled, in Belem, prices have risen by as much as 15 times, according to the ambassador.

Kenyan REDD+ Nesting Guidelines launched Monday in Nairobi have been crafted to ensure that both site-scale and subnational jurisdictional REDD+ initiatives retain direct access to the market, as per the text shared this week with Carbon Pulse.

European carbon allowances weakened on Friday but showed greater resilience than gas as global markets were shaken by the White House's decision to follow through with its tariff policy, beginning on Aug. 7.

A growing number of companies is expected to participate in carbon markets, although accounting gaps risk undermining the sector's credibility, according to a study released on Wednesday by the Association of Chartered Certified Accountants (ACCA) and the University of Glasgow’s Adam Smith Business School.

The European Financial Reporting Advisory Group (EFRAG) released on Friday its revised draft of the simplified and scaled back sustainability reporting requirements for companies subject to the bloc's reporting rules.

A just transition - Serbia's government has launched a Just Energy Transition Plan document out to 2030, setting out measures to reduce any negative effects of the energy transition, such as through investments in retraining and reskilling. It also suggests the country could adopt a phased carbon pricing system to reduce the impact of the EU's Carbon Border Adjustment Mechanism (CBAM) on its industries, which it recognises would make domestic coal power increasingly uncompetitive. In 2023, Serbia had just over 25,000 people employed in thermal power plants and coal mines. (Balkan Green Energy News)

If extending the EU ETS to municipal waste incineration, the European Commission should consider including the entire sector to avoid waste leakage and ensure that all those responsible for the pollution are taxed, industry associations and NGOs have said.

A global trade body for carbon market auditors has rejected claims from an academic report that casts doubt on the credibility of third-party verification in the voluntary carbon market (VCM), warning that a mischaracterisation risks undermining trust in a critical assurance function.

The UK’s carbon capture industry is working to develop a revenue stream that makes it a self-sustaining industry – but in the meantime, it needs government support to assuage risks around the country’s first projects, according to an industry representative. 

Clean power developers in emerging and developing economies (EMDEs) continued to face significantly higher financing costs than their counterparts in advanced economies in 2024, according to survey results released Friday.

Restoring degraded ecosystems such as forests, grasslands, and wetlands could remove up to 97 billion tonnes of CO2 from the atmosphere by 2100, amounting to just 4-12% of projected emissions in the same time period, claims a study, which recommended focusing on deep emissions cuts instead.

European companies may have offset emissions using carbon credits from projects potentially operating wrongfully, a media organisation reported this week.

Vatican goes green - The Vatican City in Rome is aiming to become the world's first carbon-neutral state by sourcing nearby solar power. Italy agreed plans on Thursday to allow a 430-ha field north of Rome into a solar farm to produce electricity for the Vatican's consumption. Italy will be able to use the power produced towards its EU clean energy targets and any surplus power shall go to the local community. (Associated Press)

Calling all innovators - Applications are now open for BE100 - a competition to find, fund, and scale the next wave of high-impact businesses for environmental protection. Run by the Blue Earth Summit, BE100 calls on entrepreneurs to apply and be judged against four key criteria: breakthrough innovation, proven or potential environmental impact, commercial viability, and team strength. The top 100 highest-scoring businesses will be invited to this year's summit, and 30 finalists will pitch live for a shot at being crowned one of three BE100 winners. Applications are open until Sep. 5, see here.  

A new version of a UK forest carbon crediting standard launched on Friday, incorporating changes from the consultation feedback such as changes to the minimum project duration to align with international standards.

The UK's grid operator has launched an £8 billion partnership to expand transmission infrastructure and bring more clean energy online by engaging with regional suppliers.

The African Union Development Agency (AUDA‑NEPAD) has launched a continent-wide initiative to enhance carbon market governance, introducing new integrity and equity principles, a regional coordination mechanism, and a digital platform to support readiness under Article 6 of the Paris Agreement.

Shell connection - The firm appointed to run media for COP 30 also works for oil giant Shell, Climate Home News reported. UN awarded Edelman, which is also the world's largest PR firm, an $835,000 contract to handle global media outreach, produce digital content, and manage any communications crises during the November summit. The investigation found that the same executive overseeing the firm’s work with Shell in Brazil - where the energy company is ramping up oil and gas output - will also work on the COP30 contract.