Occidental Petroleum said Thursday that its direct air capture (DAC) facility Stratos has sold most of its CO2 removals (CDR) volume through 2030 after signing two additional offtake agreements in Q2 2025.

Keep it simple stupid - As corporate climate practices have matured over the last decade, a specialised industry of climate experts has materialised. This industry evaluates climate performance within and outside firms of all kinds – looking at GHG footprinting, decarbonisation methods, and other corporate practices. While frameworks around these forward-looking transition plans add rigour, they are becoming increasingly complex. Yet this complexity risks alienating decision-makers, argues Ilmi Granhoff, a senior fellow at the Sabin Center for Climate Change Law. Terms like “1.5°C targets” and “transition plans” remain abstract to many in finance. Granhoff argues for a simpler approach: focusing on a company’s capital asset mix to gauge current climate performance, and on its capital expenditures to understand its climate trajectory.

The Supervisory Body for the Article 6.4 Mechanism (SBM) has adopted a new standard that addresses when and how inadequate local living conditions are recognised in project baselines under the Paris Agreement Crediting Mechanism (PACM).

British Columbia has finalised its carbon capture and storage (CCS) protocol, coming in on the heels of its new compliance market and anticipated offset demand.

Marine CO2 removal (mCDR) projects such as ocean alkalinity enhancement and biomass sinking should be regulated under the London Convention and London Protocol in a way that advances climate goals while safeguarding the marine environment, according to new legal guidance.

Not much - Carbon Brief analysis finds that US President Donald Trump’s new tariffs are likely to have only a minimal impact on global CO2 emissions, despite some suggestions they could slow economic activity enough to cut emissions. The study estimates the measures – including a 10% universal levy on all imports and additional “reciprocal tariffs” on selected countries – would reduce 2025 emissions by just 110-150 Mt of CO2 (0.3-0.4%) compared to pre-tariff forecasts. In 2026, the effect could rise slightly to 190-300 MtCO2 (0.5-0.8%). The calculation uses changes in GDP growth projections from the IMF, OECD, and World Bank between late 2024 and mid-2025 to estimate the knock-on effect on emissions from fossil fuels and cement. Although headline rates from the April “liberation day” announcement have since been lowered through deals with the EU, UK, Japan, the Philippines, and others, US import levies remain at their highest since the 1930s, sustaining uncertainty over trade and growth. Experts warn that any short-term climate benefit would likely be outweighed by longer-term harm, as tariffs risk slowing investment in clean-energy projects, particularly by disrupting supply chains for low-carbon technologies. Carbon Brief notes that since returning to office in 2025, Trump has repealed multiple climate policies, including the Inflation Reduction Act, and is set to miss the previous US 2030 emissions target by a cumulative 7 bln tonnes of CO2. While tariffs may slightly dampen global GDP growth and thus emissions in the near term, Carbon Brief concludes that their overall climate impact is small and likely negative over the medium-to-long term.

West African cocoa farms could more than offset the sector’s production emissions by boosting tree cover to modest levels without hurting yields, according to new research that maps the “unrealised” carbon storage potential of agroforestry when utilised in agricultural commodities.

Biomass-derived biochar applied to soils could sequester between 0.7 and 1.8 billion tonnes of CO2e each year, provided production methods and field application are optimised, a comprehensive scientific review has calculated.

President Donald Trump’s administration has rewritten or deleted significant information from federal websites relating to environmental justice and climate change, according to a public interest research collective published a report on Wednesday.

Not welcome – The city council of Belem, which will host COP30 in November, approved on Wednesday a motion declaring US President Donald Trump persona non grata, Folha de S. Paulo reported. The proposal was a response to the recent 50% tariffs imposed by the US government on Brazilian products. On Thursday, Brazil’s President Luiz Inacio Lula da Silva said he would not call Trump to negotiate the tariffs, as the American leader is unwilling to discuss them, but rather to invite him to attend COP30 in Brazil to talk about climate issues.

Risk map update - Verra announced Wednesday it has released its provisional allocated unplanned deforestation risk map for the Brazilian state of Acre as part of its revamped REDD+ methodology. The map, which captures deforestation rates within a given jurisdiction, were prepared by independent data service providers and are pending a final review by third parties to ensure they meet Verra’s requirements. With it, project proponents can explore the feasibility of registering a VCS project under Verra’s new REDD+ methodology. Launched in 2023, the VMD0055 module of VM0048 will replace several earlier REDD+ methodologies. Verra has also finalised risk maps for the Brazilian states of Para and Mato Grosso, and released another provisional map for Rondonia. An update timeline expected timetable for the release of further maps can be found here.

Expensive even for the president – Austria’s President Alexander Van der Bellen will not attend COP30 in Belem. The head of state acknowledged the symbolic importance of holding the summit in the Amazonian city, but said the “particularly high costs” are beyond the presidency’s limited logistical budget. A delegation of Austrian negotiators and Environment Minister Norbert Totschnig will represent the country. (G1)

Say no to N2O - The International Carbon Registry has approved a new methodology to destroy GHGs in agricultural fields. The protocol, titled Atmospheric Nitrous Oxide (N2O) Destruction using Photocatalysts (M-ICR011), was developed by UK-based Crop Intellect. The company has created a sprayable product called R-Leaf, which acts as a photocatalyst that breaks down N2O in the presence of daylight. Quantification is determined by air sampling in project fields.

Moving target – The Arizona Public Service, the state’s largest utility, will no longer pursue 100% clean energy by 2050 and is scrapping its interim climate goals. The company is instead targeting to achieve carbon neutrality by 2050, indicating that it would offset emissions from fossil fuelled-power through other means. (E&E News)

Pipeline push - Ontario, backed by Alberta and Saskatchewan, announced a request for proposals on Thursday for a feasibility study exploring how best to establish a new economic and energy corridor aiming to bring Western Canadian oil and gas to refineries in Southern Ontario and tidewater ports. The study, announced amidst tariff uncertainty from the US, aims to reduce reliance on US infrastructure, bolster energy security, and create jobs by building east-west pipelines entirely within Canada. The study will also explore Indigenous participation, a national strategic petroleum reserve, and infrastructure to support mining and broadband expansion in the north.

Fission funding - New York is weighing a plan to extend subsidies for three upstate nuclear power plants until 2050 as part of its strategy to meet decarbonisation goals, E&E News reported. The proposal, backed by the New York State Energy Research and Development Authority (NYSERDA), would replace existing subsidies set to expire in 2029 with a new long-term contract framework. The facilities collectively supply about 15% of the state’s electricity and are considered by proponents as crucial to avoiding increased reliance on fossil fuels. Critics, including environmental groups, argue the plan could slow the growth of renewables and saddle ratepayers with high costs.

The Mexican state of Queretaro has approved a soil carbon project into its state-level offsetting system, marking the first time a Verra-registered soil carbon project has been recognized in the system, according to a Wednesday announcement.

A South Carolina court has dismissed the City of Charleston’s climate liability lawsuit against more than a dozen fossil fuel companies, ruling that the claims are precluded by the federal Constitution and preempted by federal law.

European carbon allowances shrugged off a weak start on Thursday morning, with prices moving in their narrowest range for more than four years, and surged in the afternoon to a one-week high on a steady flow of buying while energy markets were comparatively little changed as traders eyed geopolitical developments.

The European Commission said it will carry out an impact assessment on the use of international carbon credits as part of reaching the bloc's 90% emissions reduction target by 2040, but confirmed that this was not done prior to the proposal being put forward.

Faster and simpler - Removals registry Isometric has come up with a way to simplify the project validation process. Its Project Design in Certify speeds up project validation by moving from a slow, manual workflow via the Cloud to an online platform that generates a structured list of requirements. Suppliers submit their entire package for review on the Certify platform, which is then assessed by verifiers and Isometric who flag any issues for revision that suppliers can respond to. The platform allows for a more structured workflow and streamlines the feedback process.    

Auction open - The UK government's renewable energy auction (AR7) is open with about 29 GW of capacity eligible to apply and no technology-specific caps on the amount to be awarded. At least 12 GW will need to be secured in AR7, AR8, and potentially AR9 to be in with a chance of reaching the goal of 95% clean electricity in Britain by 2030. The application window for AR7 closes on Aug. 27 and under the shortest possible timeline sealed bids could be submitted from Oct. 21-27. If rejections are appealed, the longest scenario would see sealed bids submitted on Jan. 5-9, 2026. This auction will extend the contract guarantees to 20 years, up from 15 years previously, and will allow offshore wind projects without full planning consent to enter. (Solar Power Portal)

South Pole, one of the largest developers and financiers of carbon projects, has revealed a sharp slowdown in new credit certification last year as it pivoted towards a new approach to the market.

Capitalism vs. climate - The goal of many countries to reach net zero by decarbonising their economies and shifting from fossil fuels towards renewable energy fundamentally challenges the basic functions of the underlying liberal capitalist state, argues a paper on nature.com. The prevalent model of the liberal capitalist state being ensuring economic growth and providing security helps to explain some of the implementation gap between ambitious climate targets and actual policies. The authors analysis these limitations and lay the way for further research on the topic.

Two companies are working together to choose new sites for an agricultural carbon project, generating credits by reducing methane emissions from rice paddies, a climate tech firm announced on Thursday.

Verra has partnered with a global insurance firm to assess whether specific insurance products meet the requirements for carbon credits intended for use under the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA).

NZBA departures - UBS has exited the Net Zero Banking Alliance (NZBA) following in the steps of Barclays earlier this week. The NZBA, which aims to align banking practices with net zero by 2050, softened its requirements earlier this year in the wake of a growing number of banks having withdrawn from the alliance. Members are now encouraged to aim to keep temperature rise 'well below 2C' and the commitments have turned from mandatory to non-binding. Earlier this year, UBS pushed back its net zero goal from 2025 to 2035 and dropped references linking executive pay to ESG targets. (edie.net)

Analysts have raised their price expectations for 2025 EU carbon allowance prices by 10%, they said this week.

The lower, the better - Around 90% of the emitters regulated by Taiwan's newly introduced carbon levy programme are expected to submit their emissions reduction plans by the end of August, the island nation's environment ministry said in a statement released this week. Almost 500 entities are subject to carbon charges, and those having qualified voluntary plans can enjoy preferential rates under the scheme. The government is also formulating a preliminary plan to determine the criteria for carbon leakage-exposed sectors, a move that will affect how much emitters will have to pay under the carbon pricing scheme.

Polish it up - China's environment ministry is seeking feedback on a set of revised guidelines to better guide local governments in compiling GHG inventories at the provincial level, according to a recent notice. The proposal is set to replace the version released in 2011, in order to better align with the latest national emissions inventories and changes in international rules, the ministry said. The deadline for comments is Aug. 22, according to the notice. Meanwhile, the State Administration for Market Regulation (SAMR) recently issued its opinion on enhancing the country's carbon measurement capability, setting a primary target of building a number of national facilities by 2030.      

A ratings agency has assigned its first score to a direct air capture (DAC) activity, giving the project a low assessment due to the possibility of over-crediting, though deeming it to have strong additionality and low non-permanence risks.

Not going to work - Mining giant Rio Tinto joined its peer BHP in tempering expectations for Australia's goal of developing a green iron industry, Reuters reported. High costs and a lack of economic incentives were cited as the biggest hurdles. BHP Australia chief in a social media post earlier this year said that producing green steel in Australia would cost twice as much as in China or the Middle East.

All aboard the (no) love boats - Details have emerged surrounding the cost and availability of rooms aboard two cruise ships to be docked outside of Belem to provide additional supply of accommodations during COP30 in November. According to marketing materials prepared by Flytour and Qualitours – the tour operators managing the COP30 cruise ship offering – and seen by Carbon Pulse, the 1,862-cabin Costa Diadema and the 2,020-cabin MSC Seaview will be moored in the expanded Port of Outeiro some 25 km or 45 minutes from the climate summit venue. Launched in 2014, the Costa Diadema can accommodate nearly 5,000 people, offering eight restaurants, 11 bars, and 11 swimming pools and whirlpools. The MSC Seaview, inaugurated in 2018, can accommodate more than 5,300 passengers and features an “interactive” waterpark. But these oceanic options are not cheap. The brochure shows the cheapest options are €1,200-1,400 per night for a single-occupancy veranda/balcony room, based on a minimum 17-night stay. That price drops to €600-700 per person per night with two people sharing a 17-20 square metre cabin, with most rooms featuring a double bed and a pull-out sofa. Triple and quadruple options are also available, bringing the price down as low as €300-350 pp pn, but that would involve attendees sharing beds – and it doesn’t avoid the minimum cost of €20,000 per room. Some 75 suites on the Costa Diadema and 86 on the MSC Seaview are also available, but prices go up to €2,900-3,100 pn for the cheapest single-occupancy options, and to €3,450-4,400 pn for the more lavish ‘Grand Suites’, which can sleep up to five people across two bedrooms and a ‘separate living area’ sofa. According to the booking website, all of the Costa Diadema’s 940 ‘internal’ and ‘external’ cabins, plus the 480 equivalent options on the MSC Seaview, have been booked, with a further 56% of the 846 veranda/balcony rooms on the Costa Diadema also now reserved. At around 1,370, the MSC Seaview features significantly more veranda/balcony cabins, but it’s not clear how many remain available. The revelation confirms Carbon Pulse’s reporting from earlier this week that COP30 organisers are expecting delegates to share beds – a proposition that is being resolutely rejected by governments. Parties have also heavily criticised the exorbitant accommodation costs, with prices for private residences in Belem being offered to delegates via the bnetwork-managed COP30 booking portal ranging from $200 to over $15,000 per night (some lower-priced apartments appear to have been made available since the last update). Brazilian officials have rejected calls to relocate the conference to another, larger city, insisting there will be enough beds in Belem (over 55,000 across nearly 30,000 rooms) for the expected 50,000+ attendees. “In 30 years of participating at COPs, I have never seen an accommodation situation as extortionary and chaotic as in Belem. While there has been a tendency to see COP participants as victims to ‘milk’ as done by the Egyptian government in Sharm el-Sheikh in 2022, and by Azerbaijan in Baku in 2024, Belem pricing excesses dwarf these past events,” said Axel Michaelowa, senior founding partner at the Perspectives Climate Group consultancy. “COP stalwarts should protest by bringing a camping kit and putting up one’s tent inside the blue zone – probably the safest place in Belem and following the recommendation of Brazilian President Lula to ‘sleep under the stars’.”

A white paper published Thursday said India’s depleted agricultural soils hold “high potential” as a source of carbon removal credits, claiming that modest improvements in soil organic carbon (SOC) could sequester billions of tonnes of CO2 while delivering co-benefits for farmers.

Switzerland has hired a ratings agency to evaluate Article 6 carbon projects in the wake of criticism over the additionality of the first-ever Internationally Transferred Mitigation Outcomes (ITMOs) transferred under the Paris Agreement.

Biochar is dominating the carbon removal (CDR) market, accounting for more than 40% of retired certificates by a leading public registry.

Pressure campaign - The Trump administration is intensifying pressure on the International Energy Agency (IEA), seeking to oust Deputy Executive Director Mary Warlick, a former US diplomat, over the agency’s perceived anti-fossil fuel stance. Republicans accuse the IEA of discouraging oil and gas investments through forecasts showing declining demand. Energy Secretary Chris Wright has publicly criticised the IEA and warned of potential US withdrawal if reforms aren’t made. A key point of contention is the IEA’s shift away from its “Current Policies Scenario”, which reflects only enacted national policies, towards scenarios seen as favouring clean energy transitions. The IEA has pledged to restore the Current Policies Scenario in its 2025 World Energy Outlook. Warlick, appointed in 2021, is reportedly facing pressure from the Department of Energy to step down. Though the State Department initially resisted her removal, recent bureaucratic changes may now ease such efforts. However, the US cannot unilaterally dictate IEA staffing decisions, as it is one of 32 member countries. The administration is also threatening to cut IEA funding in the 2026 budget, aligning with broader moves to withdraw support from international organisations seen as misaligned with Trump’s energy agenda. Despite the pressure, IEA leadership has defended its work, emphasising its commitment to energy security and broad scenario analysis. (E&E News)

Not robust enough - The Article 6 framework for international carbon trading is "simply not robust enough to ensure the transparent trade of high-quality carbon credits, with troubling ramifications for global climate action", concludes Carbon Market Watch (CMW) in a report examining the Art.6 rulebook. Art. 6.4 performs better overall than Art. 6.2, but still scores badly on permanence and equity, it found. Gaps and loopholes in Art. 6.2 must be resolved when the Art. 6 rulebook comes under review in 2028, while for Art. 6.4., these revisions can already take place given the Supervisory Body can continually change its rules. CMW urges developed countries to prioritise emissions reductions without using Article 6 to achieve their climate targets.

Japan has issued this fiscal year's second call to subsidise project proposals that can provide benefits beyond emissions reductions under the bilateral Joint Crediting Mechanism (JCM).

CCS hopes - Chevron has submitted an environmental plan to the Western Australian state government for the CCS element of its Gorgon LNG plant. It aims to increase injection capability given the plant’s underperformance since commissioning in 2019. While capacity is supposed to be around 4 MtCO2 a year, Chevron has been injecting less than at 1.6 Mt from its wellhead gas, leading to heavy reliance on Australian Carbon Credit Units (ACCUs) to meet emissions obligations.

Perseverance - Paris-based carbon credit developer and trader Aera Group has reported a €11 mln net profit in its financial results for 2024, marking the strongest performance in its history despite subdued market conditions such as constant drop in prices, uncertainties around methodologies and certification from registries, as well as sluggish demand, it said in a press statement. The company delivered 5.6 mln carbon credits in 2024, compared to 4.7 mln in 2023, from 46 projects in 25 countries in Sub-Saharan Africa, it said.

Back in business - India’s Bureau Veritas has been re-approved as validation and verification body (VVB) by the Global Carbon Council under its latest approval cycle, it said. Bureau Veritas has met the necessary requirements in line with the rigorous criteria set out in the UNFCCC/CDM Track, the standard said. This re-approval authorises the verification body to conduct validation services for projects seeking registration under the GCC programme, as well as for verifying GHG emission reductions for already registered projects.

The European Commission may delay some elements of its carbon border fee until global trade tensions ease, particularly as developing countries question the way that revenues will be spent and consider their own retaliatory instruments, experts say.

Uniper reported Thursday a heavy drop in coal-fired generation covered by the EU's carbon market, also slashing its clean energy investment plans nearly 40%.

Current climate finance flows to Thailand are only around half of what the country needs to meet its Paris Agreement and net zero targets, leaving the country with an $11-17 billion annual investment gap, according to a report released Thursday.

A UK-based bank announced on Thursday a partnership with a Brazilian state to sell carbon credits from a jurisdictional REDD+ (J-REDD+) system in the Amazon.

A group of 21 NGOs has written to major banks around the world, calling on them to stop funding for a blast furnace relining project in South Korea, saying it would lock the steel manufacturer into at least 15 more years of coal use and at risk of hefty carbon border fees for exports to Europe.

Sign me up – Japanese chemicals firm Resonac has joined the Science-Based Targets initiative, it announced on Wednesday, effective as of June 30, 2025. The firm has been working towards a goal of carbon neutrality by 2050, undertaking energy efficiency improvements and expanding its use of renewable energy, it said, and will restate its 2030 target to align with the Paris Agreement.