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.

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).

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.

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.

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.

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.

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.    

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.

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)

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.

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.

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).

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.

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.