Off the blocks – An Australian company has submitted the first application for an offshore oil and gas exploration licence in New Zealand since the ban was repealed in July, Newsroom reported on Tuesday. Adelaide-based EnZed Energy has applied for a permit covering 546 square kilometres off the south coast of Taranaki and, if granted, would be the country’s third-largest drilling area, Newsroom said. Notably, it includes the area of the former Kaheru permit, which was abandoned in 2017 as the grant holders said drilling at the site was uneconomic. The application was accepted Oct. 16, launching a three-month window for other parties to express interest in any of the area covered. Data released in June showed a faster-than-expected drop in New Zealand's known gas reserves, partly due to some of the volume being reclassified as contingent, ie harder to access than previously thought.

Verra continues to push reforms aimed at boosting integrity, efficiency, and transparency in the voluntary carbon market (VCM) in updates presented during its final 2025 stakeholder webinar Wednesday.

A biochar company with carbon removal (CDR) projects in Southeast Asia has named a new CEO as it seeks to scale its efforts, according to a Wednesday announcement.

Brazil expects more countries will announce contributions to the Tropical Forests Forever Fund (TFFF) at its launch on Nov. 6, a government advisor said on Wednesday.

Solar photovoltaic (PV) technology is set to become cheaper, cementing its position as the world's most cost-competitive power generation source through 2025, according to a new report.

Investment in marine carbon removal (CDR) projects is down by 80% this year, analysis from a market data analytics firm has found.

Almost 90% of reports of major methane emissions leaks receive no response from companies or nations despite a 1,200% increase in action taken to mitigate these events over the last year, data from the UN Environment Programme shows. 

China's years-long reforms for its power industry have seen some initial progress, but it remains crucial to define the government’s role in the increasingly market-driven sector, a recent study has said.

Some 85 countries out of 100 analysed have begun developing authorisation or tracking systems to participate in carbon trading, while 13 have both systems fully in place, according to a new report measuring Article 6 implementation.

Countries should provide clearer demand signals, standardise project rules, and strengthen domestic frameworks to attract private investment into carbon markets under Article 6 of the Paris Agreement, according to a report released on Oct. 17.

Green metro - The Asian Development Bank (ADB) has launched a tender for consulting services to support the decarbonisation of the Baku Metropolitan as part of its “Decarbonising Baku Metro for a Smart and Sustainable Urban Transit Future” project. The 12-month assignment, budgeted at $400,000, aims to help Baku Metro integrate clean-energy solutions such as solar power and battery storage, enhance energy efficiency, digitalise operations, as well as reduce CO2 emissions, electricity losses, and dependency on subsidies. The bid deadline is set for Oct. 25, with work expected to begin on Dec. 1.

Curbing methanol emissions - Global methanol production, responsible for around 10% of the chemical industry’s CO2 output, is under growing scrutiny as demand doubles and emissions rise sharply. Data from Appleyard Lees shows that patent filings for sustainable methanol technologies have surged 250% since 2018, reflecting accelerating efforts to cut the sector’s carbon footprint through CO2 reuse, green hydrogen integration, and more efficient reactors and catalysts.

The launch of Indonesia’s carbon exchange in 2023 helped improve corporate transparency and emissions efficiency among its listed companies, a new study has found.

The global steel sector continues to exhibit significant variations in energy and CO2 intensity among countries, with China and India identified as the most carbon‑intensive producers, according to a new report.

Western Australia’s large industrial facilities would decarbonise faster if limits were placed on offsets use under the Safeguard Mechanism, according to a report published Wednesday.

Grease to green -  Indonesia’s bioenergy programme has helped the country cut up to 28 MtCO2e this year, Energy Minister Bahlil Lahadalia said in a press release. The B40 initiative, which blends 40% palm oil biodiesel with conventional diesel, delivered 10.57 mln kilolitres of fuel through September. The programme also saved millions in foreign exchange, he added. Under a revised energy policy, the Southeast Asian country aims to raise the share of renewables in its energy mix to between 19-23% by 2030. A recent report, however, claimed that biofuels emit 16% more CO2 than the fossil fuels they replace once the effects of deforestation, soil degradation, and land-use change are accounted for.

The New Zealand government unveiled its long-awaited wood energy strategy on Wednesday, flagging that the resource could displace around 40% of fossil fuel-derived process heat by 2050 – reducing demand for units in the NZ ETS.

Every indicator assessed during a stocktake of sector-specific climate action is off track for 2030 targets, but rising private finance payments offer a glimmer of hope, according to a report released Wednesday.

Battery buzz – The Australian Renewable Energy Agency (ARENA) has awarded A$25 mln ($16.2 mln) to Melbourne-based Relectrify to fast track the rollout of its world-first battery energy storage system (BESS), it announced. Relectrify's AC1 BESS does not require an inverter, unlike traditional systems, ARENA said, and instead uses a unique management system that controls each battery cell to directly produce AC power, reducing degradation and delivering 20% more energy over its lifetime. The company previously received early-stage funding from ARENA and is now backed by venture capital, with the cash to go toward deploying up to 100 MWh of AC1 demonstration systems.

Pacific push – The government of Solomon Islands has committed $1 mln to the Pacific Resilience Facility (PRF), the first Pacific-led, owned, designed fund to tackle climate change impacts. The contribution brings the current pledges to $167 mln, the Pacific Islands Forum secretariat said in a press release last week. The PRF is seeking to raise $500 mln in pledges by the end of 2026. Meanwhile, the Republic of the Marshall Islands has become the third PIF member to ratify the treaty establishing the PRF, following Nauru and Tonga.

An NGO and a multilateral development bank have launched new guidance to help countries mobilise finance for subnational climate action, they announced Tuesday.

Funds for Fiji – The Climate Investment Fund’s (CIF) board has approved Fiji’s Nature, People, and Climate (NPC) investment plan, valued at $27 mln, it said in a press release on Monday. Aiming to boost biodiversity and climate resilience, the CIF funding will help with the conservation of 30% of land and marine areas, in line with the Kunming-Montreal Global Biodiversity Framework. A separate $4 mln grant will go to Fiji’s Indigenous Peoples and local communities, for activities that reflect traditional practices, said the CIF.