Brazil’s National Bank for Economic & Social Development (BNDES) and two financial institutions announced on Tuesday at COP the launch of the country's first national carbon credit certifier.

The future of forest carbon accounting and the effort to rebuild market confidence hinge on digital monitoring, reporting, and verification (dMRV), speakers at a recent online event suggested.

The Brazilian state of Amazonas signed on Monday at COP30 its first contract for a REDD+ carbon credit project on a conservation unit (UC) with a Sao Paulo-based developer.

New milestone - UK energy-from-waste operator Enfinium has submitted a planning application to Flintshire County Council to install carbon capture technology at its Parc Adfer energy-from-waste facility in Deeside, which processes up to 232,000 tonnes of unrecyclable waste each year. The project, first announced in Apr. 2024, was recently shortlisted by the UK government as a standby project for grant support to connect to the HyNet North West CO2 transport and storage network. A public consultation ran from Sep. 8 to Oct. 6, allowing residents and stakeholders to provide feedback. If approved, Parc Adfer would become Wales’s largest carbon removals project, with a decision expected in early 2026.

Starting lineup - The Climate Action Reserve (CAR) has finalised the membership of its new permanence workgroup. The body in September launched its first comprehensive review in over a decade of its permanence standards for carbon storage credits, aiming to modernise its 100-year commitment model. The registry said the update would explore new permanence timeframes, post-issuance monitoring approaches, and improved tools for addressing potential reversals, in response to advances in science, technology, and policy. The workgroup's members include:

• Ben Parkhurst, Anew Climate
• David Antonioli, Transition Finance
• David LaGreca, EcoEngineers
• Jason Gray, Governors’ Climate and Forests Task Force
• Jeff Seale, HabiTerre
• Jennifer Jenkins, Rubicon Carbon
• Johanna Depenthal, Cool Effect
• Jordan Wildish, Washington State Department of Ecology (Observer)
• Lizethe Rivera, Secretaria de Sustentabilidad, Medio Ambiente y Agua del Estado de Aguascalientes (Observer)
• Lynn Riley, American Forest Foundation
• Max DuBuisson, Indigo Ag
• Megan Baskerville, Environment and Climate Change Canada (Observer)
• Nandini Wilcke, CarbonPool
• Oscar Espinosa, Bioforestal Mexico
• Pedro Morales, GLZ
• Racheal Notto, Kita
• Rosendo Perez, Integradora de Comunidades Indígenas y Campesinas de Oaxaca
• Sebastian Ortiz, ALLCOT
• Sheldon Zakreski, Greenline Climate
• Tara Ursell, California Air Resources Board (Observer)
• Victor Duribe, Sky Harvest

Stakeholders remain cautiously optimistic about the long-term expansion of global carbon markets, but note that growing geopolitical tensions are impacting integration timelines and climate policy design, according to a new survey.

Brazil’s National Bank for Economic and Social Development (BNDES) and state-owned oil major Petrobras on Tuesday launched their first call for a proposals under an initiative aimed at Amazon restoration, looking to contract 5 million carbon credits.

A Brazilian state has signed a letter of intent with the non-profit that coordinates public-private buyers’ club the LEAF Coalition, it was announced Tuesday at COP30.

The first day of Indonesia’s carbon credit dealmaking at COP30 in Brazil saw less than 15,000 units change hands, however international transactions are expected in the coming days.

Two large global standard setters have welcomed the COP30 Action Agenda’s emphasis on harmonising carbon accounting frameworks.

Clearing up accounting questions will now be key to potential integration of carbon markets, and in particular Article 6, into the new global climate finance goal, agreed last November in Azerbaijan, according to experts.

Forty-four governments, representing roughly 40% of the world’s mangrove coverage, have endorsed an initiative that seeks to generate finance to protect and restore the important ecosystem for climate and biodiversity.

Day 2 at COP in Belem. Activity and anticipation are picking up as attendees continue to shuffle in more and more following the first day of negotiations. In our daily running blog, Carbon Pulse will report relevant or useful updates throughout the day. Timestamps are in local time (GMT-3).

A new UK- and UAE-based carbon consultancy has launched with the aim of connecting early-stage regenerative agriculture and reforestation projects to corporate buyers and investors, its managing director announced last week.

A Copenhagen-based firm has received validation from SustainCERT for a Scope 3 emissions project focused on regenerative farming, it announced last week.

Around one-third of Asia’s coal-fired power plants could qualify to generate transition carbon credits, according to a report by a Singapore-led initiative, though it said more pilot projects will be needed and that systemic impacts will take time to materialise.

New Zealand’s Ministry for the Environment (MfE), in partnership with The Nature Conservancy Aotearoa New Zealand (TNC NZ), has published the development of country’s first comprehensive dataset on carbon stocks and greenhouse gases from coastal wetlands.

Canada, Luxembourg, New Zealand, Peru, Switzerland, and Zambia have officially endorsed principles promoted by a Singapore-led coalition to grow carbon markets, even as their motivations and perceptions of quality appear to differ.