Dutch elections – Climate action could be a winner in national elections in the Netherlands on Wednesday as two exit polls suggested the centrist D66 party – which has called for more climate action – won the greatest number of parliamentary seats (27), just ahead of the far-right, climate-sceptic PVV party (25 seats), winners of the last election. D66’s likely victory means its leader, Rob Jetten, who was minister for climate and energy from Jan. 2022 to July 2024, could be the Netherlands’ next prime minister. The country went to the polls this week after its government collapsed on June 3 following the PVV’s withdrawal from the governing coalition over an immigration dispute. On Wednesday night, former EU Green Deal chief Frans Timmermans announced he was stepping down as leader of the green, centre-left alliance GroenLinks-PvdA after it was projected to have lost five seats.

Industry and corporate representatives on Wednesday called for Canadian governments to use their purchasing power and long-term market signals to help expand demand for low-carbon materials, noting that large buyers play a major role in shaping markets for sustainable production.

The UK's remaining oil refining sector is facing an "existential crisis" and is on a path to collapse unless the government addresses the rising cost of carbon, industry leaders told Parliament's Energy Security and Net Zero Select Committee on Wednesday.

Paris-based sustainable investment manager Mirova has made its first carbon investment in France, committing €10 million to a large-scale soil carbon project developed by local carbon farming startup ReGeneration, the companies announced this week.

A Dutch carbon project developer has launched a new asset management division as part of plans to raise €100 million by 2030 for verified nature-based and biodiversity-focused investments.

The UK government expects to boost its methane emission reductions to 68% by 2030 compared to 1990 levels, with efforts focused on agriculture, waste, and fossil fuel supply, according to an action plan published on Wednesday.

Inching forward on 2040 target – EU27 ambassadors met on Wednesday to discuss the bloc's proposed 2040 climate target after a summit of EU leaders last week offered political guidance. Denmark, which leads the neogiation as the current holder of the rotating EU Council presidency, said it remains hopeful for a deal on the EU’s 2035 and 2040 climate targets at a ministerial meeting planned on Nov. 4. Despite gaps among EU states, diplomats note growing consensus on key issues, including a revision clause that considers science, technology, and competitiveness. France has secured its priorities, notably the inclusion of technology neutrality – code for nuclear energy. Another meeting of EU27 ambassadors is scheduled for Friday ahead of the Nov. 4 Environment Council. (Argus Media).

A carbon removal (CDR) registry has certified a new methodology update that expands the scope of its feedstock accounting rules and adds new methods for demonstrating eligibility. 

G20 countries, which represent 85% of global GDP, lack credible plans to ramp up carbon removals in their UN climate pledges, according to leading climate institutes.

The UNFCCC-accredited Green Climate Fund (GCF) this week confirmed Uganda’s eligibility for $31 million in results-based REDD+ payments regarding the first GCF REDD+ initiative in Africa.

The tools available to researchers and civil society organisations that monitor methane super-emission events caused by oil and gas installations are growing by the day, four non-profits told a webinar on Wednesday afternoon.

The Net Zero Asset Managers (NZAM) initiative has proposed a major overhaul of its framework that would significantly roll back signatory commitments, including the removal of all references to achieving net zero by 2050 and the elimination of requirements to set interim portfolio emissions targets.

A grant-based programme for mitigation projects backed by several European governments will permit funding flows – including of official development assistance (ODA) – to select carbon market activities through ‘technical cooperation’, according to a new brief.

German hydrogen - In another hydrogen reality check, the Federal Court of Auditors (Bundesrechnungshof) in Germany has said the government needs to revise its hydrogen strategy to take account of supply and demand falling well below expectations. Despite billions in subsidies, the government has not delivered on its hydrogen goals – and is unlikely to do so in the near future, the auditors said. Germany is currently set to miss its 2030 targets both for producing 'green' or renewable hydrogen domestically and for imports. The auditors recommended a "reality check" of the country's National Hydrogen Strategy, must as the EU has committed to an update of its hydrogen strategy by the end of 2026. Germany needs to “reassess whether and when green hydrogen can be made available in sufficient quantities, at a competitive price and in a climate-neutral and sustainable manner without permanent subsidies”, they said. (Bundesrechnungshof and Clean Energy Wire)

The EU needs to consider sub-national carbon markets to give Canadian exporters a fair shot at reducing their CBAM costs, a Toronto-based carbon market analyst told Carbon Pulse.

The UK government intends to keep cutting emissions in a way that reduces bills and secures good jobs, the government said on Wednesday, pushing back on growing criticism of the country's goals for net zero emissions by 2050, and clean power by 2030.

European carbon prices rose moderately on Wednesday amid repeated bursts of buying activity, after weekly Commitment of Traders data suggested that bullishly-positioned participants are content to hold on to their positions, while energy markets were also firmer.

The health threats of climate change have reached unprecedented levels - exposing more people to heatwaves, boosting the risk of wildfires and disease transmission, and increasingly straining the economy, with stronger adaptation measures urgently needed, said a medical journal report.

A voluntary carbon crediting scheme has partnered with a South Korean government agency to scale nature-based solutions (NbS) and advance high-integrity carbon markets, it announced Wednesday.

Most air travel carbon calculators underestimate the full climate cost of flying, with total warming effects potentially more than twice as high as current CO2-based estimates, a report published Wednesday has found.

Carbon market intelligence firm Veyt has outlined proposals to reform the Market Stability Reserve (MSR) in the EU’s Emissions Trading System (ETS), arguing in a new report that “flexibility is the magic word” for the future design of the EU carbon market.

International climate adaptation finance flows currently amount to only 8% of developing countries’ estimated needs to adapt to the impacts of rising temperatures, according to the UN’s environment agency’s annual assessment, though countries are starting to put in place adaptation plans.

Nature-based solutions are key to advancing wildfire management in Europe, as forests across the continent face increasing risks due to the ongoing climate crisis and shifts in land use, according to the European Environment Agency (EEA).

Cote d'Ivoire's Third Nationally Determined Contribution (NDC) was published on Wednesday by the UNFCCC, outlining the country's aim to reduce emissions by a third on business-as-usual levels by 2035, using Article 6 and voluntary carbon market finance to help achieve the objective.

The world is on track for 2.6C warming, unless investment jumps 30% from current levels to average $4.3 trillion a year in clean energy between now and 2060, warned a report by Wood Mackenzie.

Ghana has launched a $200 million rooftop solar initiative in partnership with Switzerland, marking one of the largest bilateral clean energy projects implemented under Article 6 of the Paris Agreement.

More talks needed - India raised concerns over the EU's CBAM levies during trade talks in Brussels, with both sides agreeing the issue needs further discussion due to its sensitivity, the Commerce Ministry said in a statement. Minister Piyush Goyal and EU Trade Commissioner Maros Sefcovic reaffirmed their goal of concluding a free trade pact by end-2025 while exploring “landing zones” on other outstanding matters. An EU technical team will visit India next week to continue work on potential solutions.

Uzbek renewables - The European Bank for Reconstruction and Development (EBRD) has committed $142 mln in loans to two special-purpose vehicles (SPVs) developing a combined 1 GW solar and 1,336 MWh battery energy storage system (BESS) project in Uzbekistan, in a step to advance Central Asia’s largest renewable-energy and storage deployment to date. The project also marks the first renewable energy and battery storage investment in Uzbekistan by Japan’s Sumitomo Corporation, Shikoku Electric Power Company, and Chubu Electric Power Company, which will jointly co-own the two project SPVs. The project supports Uzbekistan’s 25 GW renewables target by 2030 and will generate about 2,300 GWh of power annually, enough to supply 600,000 households.

Just four Global North countries, led by the US, have largely filled the gap to meet rising global oil and gas demand since 2015, contrary to their Paris Agreement pledges, according to an NGO.

Agri carbon - Climate-tech startup Tourba, which develops soil-based carbon projects across Africa, has partnered with ThriveAgric, a Nigerian agritech company connecting smallholder farmers to finance and markets, to expand conservation agriculture practices in Nigeria, local outlet This Day reported. The collaboration will onboard farmers into Tourba’s carbon-farming programme, train them in regenerative methods, and set up 100 demonstration plots to showcase sustainable land-use models that improve yields while generating verified carbon credits, according to the outlet.

The UK government has amended its vehicle emissions trading framework to ease discrepancies in CO2 target calculations and expand trading options between car and van schemes, as part of broader efforts to align transport-sector decarbonisation with the country’s legally binding carbon budgets.

Mauritania is looking to leverage cooperative mechanisms under the Paris Agreement, and has already made preparations to do so as part of its green hydrogen programme, according to its latest Nationally Determined Contribution (NDC).

The world’s wealthiest people are generating more carbon pollution in a single day than the poorest half of humanity produce in an entire year, according to a new report warning that the high-carbon lifestyles and investments of the super-rich are driving the planet towards climate disaster.