Nearly all of the 31 countries that submitted new 2035 climate targets to the UN mention supporting some global clean energy goals, but none address all of them, according to new analysis published today ahead of COP30.

A majority of global investors thinks the energy transition is “unstoppable”, a survey has found.

Attribution - A new study published in the scientific journal Nature identifies 213 heatwaves between 2000 and 2023 that were made more likely and more intense by emissions from 180 fossil fuel companies, including the 14 top carbon majors (the former Soviet Union, People’s Republic of China for coal, Saudi Aramco, Gazprom, ExxonMobil, Chevron, National Iranian Oil Company, BP, Shell, India for coal, Pemex, CHN Energy, People’s Republic of China for cement). The team also ran climate models excluding the emissions of individual carbon majors to highlight the effect of single players on the global average temperature. Once climate researchers know how much these companies have contributed to global warming and how this warming affects heatwaves, they can then calculate how much each of these carbon emitters has influenced each individual heatwave. (Nature)

Central banks in ASEAN+3 - China, Japan, and South Korea - are advancing efforts to include climate risk into financial regulations, but their policies stop short of forcing a shift away from fossil fuels, a webinar heard Wednesday.

As part of a new "engagement first" push, financial institutions may still lend in a manner that increases GHG emissions in the short term, the Science Based Targets initiative (SBTi) said Wednesday, as the organisation unveiled more details about its revised net zero standard for the sector.

A group of Singapore-based environmental groups have called on the government to improve the transparency of its carbon tax regime, warning that allowances for heavy industries and a lack of disclosure in how these are calculated risk undermining the city-state’s climate targets.

More steel, more coal - India's push to expand steel production will lead to a rise in demand for coking coal from 87 Mt in FY2025 to 135 Mt by FY2030, according to a report released Wednesday by EY's consulting arm and Indian Steel Association. The steel sector is already responsible for about 12% of India’s total emissions, compared with a global average of 7-8%, driven by coking coal intensive blast furnaces. Australia is the top exporter of coking coal, but its mines harbour a hidden methane problem.

The Indian government is preparing an INR 389 billion ($4.65 bln) carbon capture, utilisation, and storage (CCUS) programme that will be rolled out in phases, with New Delhi expected to cover just over half the total outlay.

Fuel suppliers are imposing an excessive surcharge on airlines to cover compliance with RefuelEU and UK sustainable aviation fuel (SAF) mandates, whilst often not providing them with the required sustainability certificates to make claims under emissions trading systems and CORSIA, said an industry body.

China’s surge in renewables and whole-economy electrification has set an example for the rest of the world, but over-reliance on Chinese imports could be a potential challenge for developing countries, experts told a webinar this week.

Global gas demand was up nearly 2% in 2024, with 2025 forecast to see similar growth according to figures from a a report released by the gas industrys largest lobbying group on Wednesday.

CO2-trapping concrete  - Japanese auto parts maker IJTT has teamed up with project developer Bywill and CO2 sequestration solution provider Santa Mineral to directly capture CO2 from the atmosphere and convert it into environmental values, such as domestically issued J-Credits, they announced Wednesday. Under their agreement, Santa Mineral's CO2 absorption and fixation device will be installed at IJTT's Kitakami plant, while Bywill lead the project registration under the J-Credit scheme's new methodology for CO2-absorbing concrete (IN-006), with the aim of generating carbon credits by 2026.

Monitoring is key - Tokyo-based Archeda, which provides dMRV solutions for nature-based carbon projects, has signed an MoU with Indonesia's agriculture ministry (BrMP) to implement monitoring technology for alternate wetting and drying (AWD) projects, according to a statement released this week. Relevant pilots will be conducted in fields managed by Indonesian government agencies, and a feasibility study for the AWD project led by Japanese startup Space Tech Accelerator will be carried out, in order to ultimately introduce AWD across the Southeast Asian country and expand monitoring practices using satellite data.

The Western Australian state government has opened a new round of funding worth A$60 million ($39.6 mln) from its New Energies Industries Funding Stream to drive investment in green iron, renewable hydrogen, carbon capture, utilisation, and storage (CCUS), and critical minerals.

Multilateral development banks (MDBs) committed a record $137 billion in climate finance in 2024, up 10% from the previous year, according to a joint report released Tuesday, with the results confirming they are on track to meet their collective 2030 goals set at COP29.

Hot rocks - Indonesia this week launched a pilot project to create green hydrogen from clean energy using its existing geothermal infrastructure, according to the Ministry of Energy and Mineral Resources. The pilot will begin in the Lampung region in southern Sumatra - known for its geothermal activity. State-owned energy firm Pertamina, which operates 220 MW of geothermal power plants in the area, will divert excess energy into electrolysis to split water into hydrogen and oxygen. The pilot aims to test the technology and then scale it across Indonesia.

Hot in here – The preferred site for New Zealand’s first supercritical geothermal exploration has been selected, the government announced on Wednesday, having ringfenced NZ$60 mln ($35.7 mln) for the project. Located in the Rotokawa Geothermal Reservoir in the Taupo Volcanic Zone in the central North Island, work is already underway to develop the first well, following the signing of an MoU between the Ministry of Business, Innovation and Employment, Tauhara North No.2 Trust, which manages the land for the local iwi, and Mercury NZ, which operates a geothermal power station in Rotokawa. Last week, the government announced a grant of NZ$10.7 mln to another supercritical geothermal project as it seeks to double the use of the energy source by 2040.

Eye in the sky - Thailand’s Department of Climate Change and Environment this week signed a five-year agreement with the state-run space agency to deploy satellite data and mapping technology in tracking emissions and carbon credit management, according to an offical press release. The agreement aims to create a database of forests, green areas, and wildfire zones, and to develop models for emissions and absorption.

Asia Pacific’s GDP could shrink by $3.4 trillion per year by mid-century if the region fails to act on the low-carbon transition, a report warned.

Over 30 scientists have urged the Science Based Targets initiative (SBTi) and the Supervisory Body responsible for the Paris Agreement’s new carbon crediting mechanism to support the use of natural climate solutions (NCS).

EV extension – The Singapore government has announced an extension to its Vehicular Emissions Scheme to Dec. 2027 as part of its efforts to reach 100% clean-energy vehicles by 2040. The scheme applies subsidies to clean energy vehicle purchases, however the government said the extension would include revisions to banding, rebates, and surcharges. Only EVs will receive rebates, hybrid vehicles will no longer receive rebates, while more polluting vehicles will have higher surcharges, it said.

Australian acquisition – Climate investor Wollemi Capital has finalised its acquisition of renewable energy and battery storage project developer MPower for A$19 mln ($12.5 mln), it announced on Tuesday. Wollemi said the transaction strengthens its position as a long-term investor in scalable, distributed clean energy infrastructure. As part of the acquisition, Wollemi has agreed to invest A$100 mln to support MPower's project pipeline to ensure the company has the balance sheet to grow. Completion of the sale remains pending subject to regulatory approvals.

As expected, Wednesday’s sale of New Zealand allowances failed to attract any bids for the third consecutive time this year.