Parties are not expected to reopen adopted texts governing the Paris Agreement Crediting Mechanism (PACM), despite strong interventions in talks earlier this week at COP30 made by countries raising concerns with a permanence standard affecting new Article 6 carbon projects.

An autonomous region of Spain has opened a call for expressions of interest to launch its voluntary carbon market, marking the next step in implementing Spain's first regional carbon trading system.

Turkiye's Carbon Border Adjustment Mechanism (CBAM) will go ahead, but not before 2029, the CEO of the country's energy exchange said on Thursday. 

The Brazilian-led tropical forest fund has been clouded by uncertainty at COP30, despite receiving over $5 billion in pledges upon its launch ahead of the annual UN climate summit, with hopes now pinned on Germany, China, and multilateral development banks (MDBs) to keep the flagship initiative moving forward.

The African Development Bank is looking for a government or organisation to host an initiative designed to entice polluters to buy certifications for the benefits generated from climate adaptation projects – outside of carbon markets.

Iraq on Thursday submitted its third Nationally Determined Contribution (NDC) to the Paris Agreement, establishing clear and specific goals for engaging Article 6.2 and the Paris Agreement Crediting Mechanism (PACM).

Brazil is in "advanced talks" with Switzerland and Singapore for Memorandums of Understanding (MoUs) for cooperation under Article 6.2 of the Paris Agreement and could announce agreements during COP30, government sources told Carbon Pulse.

Analysts project the EU ETS cap to range between 201-407 Mt in 2040, corresponding to an 80-90% reduction in GHG emissions from traded sectors compared to 2005 levels, in a new report.

Less than two months from the deadline to approve transitions from the Clean Development Mechanism (CDM) to Article 6 of the Paris Agreement, only 7% of projects and programmes have received approval, the UNEP Copenhagen Climate Centre wrote in its monthly update.

European carbon prices set a new nine-month high before falling away amid a combination of technical, equities- and energy-related selling, while the daily EUA auction saw the largest discount in more than three months, and energy markets weakened after Wednesday's adjustment to crude oil supply projections by the IEA.

Carbon pricing data from 79 countries, covering 82% of global GHG output, shows increasingly diverse and flexible market signals, tracked through effective carbon rates (ECRs), with adoption spreading across new jurisdictions and sectors, a report released on Thursday has found.

An oil major is investing in a cookstove project in Rwanda that is expected to avoid 2.5 million tonnes of CO2 over the next decade, and will pursue Article 6.2 authorization under the Paris Agreement.

The UK has seen an exponential increase in demand for grid connections over the past year to serve the data centres behind artificial intelligence (AI), most of which won't get built because the country lacks the firm generation to power them, said a grid expert at an industry conference in London.

A Colorado-based measurement, monitoring, reporting, and verification (MMRV) company will partner with a UK-based carbon market consultancy to accelerate high-integrity soil carbon projects out of Central Asia.

Indonesia and Norway on Thursday signed a “mutual expression of intent” that paves the way for Norway to buy carbon credits from Indonesia’s grid-connected renewable energy projects under Article 6.2 of the Paris Agreement.

Low-carbon hydrogen backed by carbon capture and storage (CCS) will be needed to keep Poland’s heavy industry competitive as demand rises and EU deadlines approach, according to a US-based non-profit.

ICAO has approved six of Isometric's methodologies for engineered removals under the UN's CORSIA aviation offsetting system, backing a wider suite of CCS, direct air capture (DAC), and biochar methodologies.

Australian environmental, Indigenous, and investor groups, as well as unions, are calling for an end to the stalemate around the bid to host next year's COP31, urging parties to ensure next year’s talks are held in Asia Pacific.

No deal on EU energy taxation directive – European Union countries on Thursday failed to reach agreement on the revision of the Energy Taxation Directive. The Danish EU Council Presidency, which led talks among the 27 EU member states, came to the conclusion that an agreement wouldn’t be possible due to the long list of outstanding open issues, and requests from EU countries. This comes as a disappointment for Denmark, which put forward a compromise text extending tax exemptions on fossil fuels used by the aviation, maritime and fishing sectors until 2035 in a bid to reach an agreement. The file now remains open, with no clear timetable for its adoption. Taxation is not an EU competence and requires unanimity among the EU27.

Equitable Earth on Thursday launched a new REDD+ methodology on the sidelines of COP30 in Belem, aiming to accelerate the certification of high-integrity, community-led forest conservation projects across multiple continents.

Cote d’Ivoire has signed a purchase agreement worth $23 million with a US non-profit to commercialise verified jurisdictional REDD+ emission reductions and removals issued under the World Bank’s Forest Carbon Partnership Facility (FCPF).

The Council of the European Union on Thursday approved the start of negotiations with the United Kingdom on a landmark agreement to link their emissions trading systems (ETS).

Ocean alkalinity enhancement (OAE) – The Carbon to Sea Initiative and the Prince Albert II of Monaco Foundation have launched a call for research proposals to study how ocean alkalinity enhancement (OAE) could affect commercially and culturally important marine species. The partners plan to fund two 24-month projects of up to $300K each for hypothesis-driven experiments on valued invertebrates and fish across the water column. Proposals should focus on biological and ecological responses, including potential co-benefits like reducing harm from ocean acidification, and align with emerging best practice frameworks for mCDR and community engagement. Applications are due by Friday, Jan. 16, 2026, with decisions expected by March and projects starting from May 1, 2026.

Northern Lights phase 2 – Northern Lights, Norway’s government-backed carbon capture and storage (CCS) project, is entering its second phase that will see storage capacity expand to 5 million tonnes a year, a bank announced Thursday. The joint venture between Equinor, Shell, and TotalEnergies injected its first CO2 volumes under the North Sea in August. The first phase of the project offers 1.5 mln tonnes of storage a year, and customers have already booked the full capacity. BBVA Corporate & Investment Banking said Thursday it has acted as one of the key banking partners for the second phase to expand capacity to 5 mln tonnes a year. “The scalability and commercial viability of Northern Lights set a precedent for the future of CCUS as a key enabler in the energy transition,” said Carlos Zuloaga, Global Sector Head of Energy in BBVA CIB.

The European Parliament scrapped a requirement for large companies to produce mandatory climate transition plans, as MEPs voted on Thursday to simplify EU corporate sustainability reporting rules.

The European Parliament on Thursday voted in favour of plans to cut net greenhouse gas emissions 90% below 1990 levels by 2040, clearing the way for talks with EU member states to finalise a deal before the end of the year.

Day 4 at COP30 in Belem. A brief presidency update, calmer rain and cooler protests, and a flurry of (more) announcements from Brazil kept the week ticking along on Wednesday. Closed-door talks continue on Thursday on climate finance, trade concerns, and other contentious matter, as delegates will now have to wait until Saturday for a formal update on the state of negotiations. 

A soil carbon project in India has received a $30 million investment from a Paris-based investor, with the initiative set to generate carbon credits from smallholder farmers adopting regenerative practices.

A proposed mechanism to coordinate and support the global just transition has proven to be a flashpoint at COP30, with the G77+China facing off against developed countries including the UK over it.

Global CO2 emissions from fossil fuels are projected to rise by 1.1% in 2025, reaching a record 38.1 billion tonnes, according to a report published Thursday, despite recent UN predictions that the world is about to peak its GHGs.

Experts forecast fossil fuel generation will remain flat for 2025 – the first time since the Covid-19 pandemic – with clean power growth led by China and India through the year so far, according to new analysis published Wednesday.

Global ambition to limit warming below 1.5C has barely shifted, despite a new round of 2035 Nationally Determined Contributions (NDCs), with projections remaining roughly unchanged at 2.6C of warming by end of the century, according to a new report launched at COP30.