Producers grew their net positions in Carbon Allowance (CCA) markets over the Oct. 15-28 period, US Commodity Trading Futures Commission (CFTC) data showed, as the agency continues to catch up on publishing data since the federal government shutdown.

pHathom catches wave - Canada’s Ocean Supercluster has announced C$5.8 mln ($4.19 mln) towards mCDR developer pHathom’s C$15.9-mln bioenergy with mCDR facility at an undisclosed location. The industry group aimed at unlocking Canada’s ocean economy joins a number of government funding groups, buyers club Frontier, and others who are backing the project. PHathom's process captures CO2 from biomass flue gas by dissolving it into seawater, neutralising the resulting acidity with finely ground limestone, all within an onshore reactor, producing equilibrated, bicarbonate-rich water. The company is currently testing its tech in Bridgewater, Nova Scotia and St. Andrews, New Brunswick. It said it plans to release the location of its first facility after the research programmes and community consultations have wrapped.

Reno gets SAF twin - XCF Global completed initial development at its New Rise Reno 2 facility in Nevada and plans to begin construction in 2026 on the $300M sustainable aviation fuel plant, according to a company announcement Thursday. The expansion will double XCF's total SAF production capacity to approximately 80 mln gallons annually, positioning New Rise Reno as a major US SAF production centre. The move comes as current US SAF production remains below 1% of jet fuel demand despite federal targets of 3 bln gallons by 2030, while EU ReFuelEU mandates require 2% SAF blending in 2025, rising to 70% by 2050.

Coal out, H2O in - Los Angeles officially ended coal-generated electricity use last week and will begin receiving power in Q2 2026 from the world's largest operational green hydrogen project at Utah's Intermountain Power Project, the city's mayor, Karen Bass, announced, according to LADP News. The facility will initially blend 70% natural gas with 30% hydrogen before transitioning to 100% hydrogen made from water and renewable power, stored in an Empire State Building-sized underground salt cavern. The 220 MW project won a $504M federal loan guarantee in 2022 and will produce 21 mln kg of hydrogen annually, advancing LA's 2035 carbon-free power goal.

It might take a “miracle” for Canada and Alberta to drum up a deal that pushes the oil-producing province’s Technology Innovation and Emissions Reduction (TIER) carbon credit price to C$130 ($94), analysts warn.

Environmental groups filed a court challenge to the US EPA's methane deadline-extension rule on Wednesday, asking the DC Circuit to review the agency’s decision to extend compliance deadlines for oil and gas operators.

California compliance offset retirements towards the 2024 interim cap-and-invest deadline remained below the allowable usage limit, as energy producers and heavy industry comprised the top users of offsets, according to official data published Thursday.

Peatland protection - Wildlife Conservation Society Canada (WCS) on Thursday proposed a National Peatland Strategy to strengthen protection for ecosystems that store an estimated 150 billion tonnes of carbon, warning that expanding extraction and industrial activity is eroding some of Canada's most climate-critical landscapes. WCS Canada, said governments need updated policies, long-term funding, and Indigenous-led stewardship to curb degradation. Canada holds roughly a quarter of global peatlands, and the group said coordinated action is required to avoid releasing irrecoverable emissions and undermining national climate goals.

The Ministry of Environment and Sustainable Development (MADS) seeks to comply with a long-delayed mandate stemming from the Constitutional Court's 2024 ruling on REDD+ activities in Indigenous territories by rapidly consolidating a technical expert group before year-end, due to budgetary constraints.

Major US corporations frequently revise their self-reported GHG emissions, with most changes reflecting earlier understatements, according to a new study.

EU Allowance prices ended the week 1.5% lower as prices fell way in the afternoon after having traded sideways for much of the morning, caught in a battle over the market direction ahead of the December options expiry.

Companies pursuing product-level emissions data face rising pressure but little alignment on how to calculate it, speakers said Thursday during a panel on product carbon footprints (PCF), arguing that inconsistent standards may pose a bigger barrier than data availability itself.

A study has found a systematic and structurally widening gap in Amazon monitoring datasets that could weaken the environmental safeguards linked to a bilateral trade relationship worth more than €111 billion a year.

Polish offshore wind pause – Poland should prioritise cheaper onshore over offshore wind power to stay globally competitive, the CEO of state-owned electricity grid operator PSE said in an interview with Bloomberg this week. "Why hurry? First we need to unlock the onshore wind energy, which will show us how much offshore wind we really need," Grzegorz Onichimowski said. Recent offshore wind auctions in the Netherlands, Germany, and Denmark have failed to attract bids due to rising costs. Onichimowski's comments come as Poland readies for a 3 GW offshore wind tender on Dec. 17, with maximum prices set well above current price levels and taxpayers poised to cover the difference. Onshore wind expansion has stalled due to restrictive distancing rules. (Bloomberg)

Grid investment – TenneT Germany has launched a €35 bln Debt Issuance Programme to help the TSO modernise and upgrade electricity transmission infrastructure and equipment. The inaugural programme establishes a framework for future debt issuances in the international capital markets and follows the release of TenneT Germany's Green Finance Framework, which outlined eligible assets for financing – namely, those helping connect more renewables to the grid. An energy transition "reality check" issued by the German government earlier this autumn highlighted the need for significantly more investment in grids. In what it called a sign that markets see net zero as a strategic priority, TenneT Germany secured a private equity investment of up to €9.5 bln on Sep. 24, in exchange for a 46% share of the company. The German government is also expected to take out a 25.1% stake worth €5.8 bln in early next year, Reuters reported in late November. Grids are at the centre of the EU's decarbonisation efforts. (TenneT)

Energy jobs - Employment in the global energy sector rose by 2.2% last year - almost twice as fast as overall economic growth, according to the International Energy Agency (IEA). This was driven by strong investment in energy infrastructure, though growing skills shortages threaten future momentum, the report found. The sector employed 76 mln people globally in 2024 - up more than 5 mln on 2019 levels, equating to 2.4% of all new jobs created in the last five years. The power sector is creating the most new jobs and is now the largest energy employer, overtaking fuel supply. Solar PV is a big driver, as as nuclear and grids. But fossil fuel employment stayed resilient last year, with coal jobs rebounding in India, China, and Indonesia, whilst oil and gas regained most of the jobs lost in 2020. Over half of the 700 energy-related organisations surveyed reported critical hiring bottlenecks that threaten to slow the pace of energy infrastructure build, delay projects, and boost cost. An ageing workforce is intensifying the pressure and the supply of newly qualified workers isn't keeping pace with needs.

US gas governance – US Democratic Representatives Sean Casten (IL) and Jennifer McClellan (VA) and Senate Democratic Whip Dick Durbin (D) introduced legislation on Thursday requiring the Federal Energy Regulatory Commission to assess and mitigate the climate and environmental justice impacts of natural gas pipelines approved under the Natural Gas Act. The bill would codify elements of a 2022 draft FERC policy, later withdrawn, that proposed evaluating a project’s GHG emissions, effects on vulnerable communities, and implications for energy affordability and reliability.

The European Commission is set to unveil a sweeping “European Grids Package” next week that puts electricity networks at the centre of the bloc’s decarbonisation efforts, while carving out a more targeted role for hydrogen and relegating natural gas to a transitional function.

The Q4 RGGI auction settled near $27, at a more than $2 discount to secondary market prices ahead of the sale, and roughly in the lower-to-mid range of traders' and analysts' expectations.

Another CCS bites the dust - Danish company, Affaldplus Affaldsenergi, has withdrawn its application for CCS funding from the the Danish Energy Agency, saying the current framework conditions for the tender involve a very tight and risky timetable as well as extremely complex financial requirements. Among other things, the requirement for contract signing as early as Apr. 2026 and full operation in 2030 is considered to put unnecessary pressure on the project, as the timetable is far too compressed for an initiative of this scale and complexity, the company said on its website. The decision not to submit a bid for the current CCS tender does not close the door for CO2 capture at AffaldPlus in the future. Three companies have now withdrawn their application from the pool chosen by the Danish Energy Agency, according to media reports. At COP30, Denmark unveiled a new proposed emissions reduction target of between 82%-85%, from 1990 levels, by 2035, which would be the most ambitious national target to date.

Temporary, nature-based CO2 removals could be formally used to neutralise methane’s sharp but short-lived warming impact, according to a new study.

EU climate board re-appointed – The European Scientific Advisory Board on Climate Change on Friday reappointed Ottmar Edenhofer as chair for another four-year term. Edenhofer, who is also the director of the Potsdam Institute for Climate Impact Research (PIK) in Germany, will begin his second term on Mar. 24, 2026. As chair he will oversee the advisory board as it delivers independent advice and reports assessing the extent to which EU policies align with the European Climate Law. The Management Board of the European Environment Agency (EEA) at the same time confirmed the other 14 members of the advisory board for the 2026-30 term. These appointed scientific advisors include representatives from universities and research institutions, including one member from University of Toronto.

Less rush - The Swiss Federal Office for the Environment has extended the deadline to respond to the consultation for the amendment of the ordinance on climate protection to Mar. 19, 2026. This is because the official invitations for the consultation opened on Oct. 29, 2025 have not yet been sent out. The Federal Council therefore decided at its recent meeting to extend the consultation period. Switzerland has set a legal goal to reach net zero by 2050 and the Climate Protection Ordinance implements the law's provisions. This governs the responsibilities for who must reduce emissions and by when, and the approach to carbon removals.

A new commentary has raised concerns that the current rules for implementing Article 6 contain serious loopholes that could weaken global climate action rather than strengthen it.

Western Balkan nations are failing to deploy pledged energy-related reforms under the Energy Community Treaty, but could still receive almost €300 million even in the event of late implementation, according to a new report.

An energy company has secured €2.2 billion to finance the construction of a lithium mining and geothermal energy project in Germany, with first lithium production expected from 2028.

The Bank of England updated its climate risk policy this week, adding more stringent, immediately-applicable requirements for banks and insurers due to the mounting financial costs of global temperature increase.

A UK-based asset manager has launched a $1.2 billion timber fund, merging three existing investment vehicles into a single one.

India’s steel sector could cut Scope 1 emissions from its dominant blast furnace-basic oxygen furnace (BF-BOF) route by around 50% through single-point carbon capture, but large-scale deployment will hinge on carbon credit prices, storage development, and targeted policy support, according to a report published this week.

Fossil fuel sway - Carbon capture and storage (CCS) has received €17.3 bln in public subsidies from the EU, its member states, and Norway, according to new research by Oil Change International (OCI). Next week will see the fifth Industrial Carbon Management (ICM) forum take place in Athens, which has long been steered by the fossil fuel industry that seeks to direct public money to CCS and lock-in fossil fuels, said OCI. Forum working groups influence EU policy by publishing recommendations to the Commission - all of which are led by fossil fuel actors that benefit from CCS subsidies. Both Equinor and Shell have chaired or edited working group reports, and have received several billion euros of public funds for CCS projects.

Counting regional carbon - Catalonia has approved its first carbon budget with a limit of 161.6 Mt of CO2 for the 2026-30 period. This aligns with the EU objectives and aligns with Catalonia's proportional share of the reduction effort, as established by the Climate Change Law. The region of northeastern Spain has set specific targets for key sectors under the carbon budget including energy and agriculture, and will use its new climate governance architecture to ensure compliance. (Retema)

India’s upcoming compliance carbon market risks faltering before its first full compliance cycle due to a shortage of qualified verifiers and structural flaws in the accreditation system, an industry body warned in a paper on Friday, calling for an urgent overhaul of the scheme’s monitoring, reporting, and verification (MRV) rules.

The Mozambican government has presented for public consultation a carbon market regulation that would create new institutional arrangements, digital infrastructure, authorisation rules, benefit-sharing provisions, and fee schedules for voluntary and regulated markets.

A new marketplace is set to launch in the new year aiming to broaden access to carbon credits for small businesses through partnering with Spanish banks.

A long-awaited UK ETS Authority response to a public consultation, released late on Thursday, which confirmed that no supply-balancing mechanism would be introduced, as well as the scheme's extension beyond 2030, broadly aligned with analysts' expectations who described the announcement as a "logical policy move" amid clear intent to link the country's cap-and-trade compliance carbon system to that of the EU.

Nature-based solutions (NbS) and biodiversity credit markets are key allies in efforts to mobilise private finance and halt nature loss in the Asia Pacific region, a report has said.

A dairy tech start-up is counting on a cheap, patented feed additive and a fleet of handheld methane sensors to deliver up to 30 million credits and turn climate action into cash for India’s dairy farmers, its CEO told Carbon Pulse on Friday.

CBAM re-routing - India's steel exports to Europe are expected to fall once the EU's carbon border fee comes into play from Jan. 1, 2026, leading mills to seek alternative buyers in Africa and the Middle East, Reuters reported. India is the world's second-largest producer of crude steel after China, and mills there ship around two-thirds of their exports to Europe. Most of the country's steel is made in blast furnaces, with additional planned capacity expected to add about 680 Mt of CO2e from the sector, estimated Global Energy Monitor. Companies will need to invest in decarbonisation to reduce their exposure to CBAM, and have said there is little clarity on how the tax would be calculated, executives said. To offset lower EU exports, Indian steel mills are trying to tap the Middle East with fast delivery and flexible payment options, an analyst said.

Tata trap – A provisional deal between the Dutch government and Tata Steel for up to €2 bln in subsidies in exchange for sustainability efforts, could potentially cost the government hundreds of euros a year more out to 2040, according to new research. In the letter of intent signed in September, the government made commitments that entail significant additional costs over and above the one-off €2 bln subsidy, said researchers from the Centre for Research on Multinational Corporations (SOMO) in the economics journal ESB, reported Dutch press agency ANP this week. The additional commitments include future subsidies for biomethane, a CO2 storage project in the North Sea, and compensation for rising network costs. This adds up to at least another €375-580 mln a year between 2032-40, they estimated. Tata Steel and the Dutch government disagreed with these conclusions, the article noted; they pointed out, among other things, that the letter requires the government to make reasonable efforts but does oblige it to provide additional subsidies. Following national elections in the Netherlands on Oct. 29, it remains to be seen whether the deal will be finalised. (ANP)

Price in China's national emissions market remained stable over the past week, hovering around RMB 60 ($8.48), while the voluntary market saw greater price fluctuations amid tight supply.

The conservative European People’s Party (EPP) will nominate an MEP from its own ranks to lead negotiations on the proposed reform of the Emission Trading System for road transport and heating fuels (ETS2), with the aim of closing a deal next year, the party’s environment spokesperson has said.

Two nature-based solutions providers have partnered for a native vegetation restoration project in South Australia, aimed at delivering long-term carbon removals and biodiversity gains.

One of the earliest and most influential standard-setting bodies in the voluntary carbon market announced on Friday it will wind down operations by late 2026.

India could build new coal power plants longer than previously expected in a major overhaul of its net zero strategy, according to media reports Friday.

R&D for CCUS - India’s science ministry this week released a national R&D roadmap outlining how CCUS technologies could help deliver the country’s 2070 net zero goal, calling for rapid advances from lab-scale concepts to industrial deployment. According to the roadmap, India will need large-scale CO2 mitigation options as emissions continue to rise, with energy accounting for more than 75% of the national total in 2020. It identified high costs, immature technology readiness, and limited CO2 transport and storage infrastructure as key barriers. The roadmap proposed a three-phase R&D push to improve existing capture systems, develop modified technologies, and enable new utilisation routes including fuels, chemicals, and fertilisers. It called for India-specific storage site mapping, stronger public and private collaboration, and a multi-layered funding architecture.

One of Japan's largest shipping companies is looking at investment opportunities in the emerging carbon removal (CDR) space to diversify its project portfolio, a company official told Carbon Pulse.

The nascent carbon removal (CDR) industry needs more unconventional financing mechanisms to channel capital and mitigate project risk, speakers at a Tokyo conference have said.

Only 4%, or 51 million tonnes, of all carbon credits issued in 2024 had the high-integrity Core Carbon Principles (CCP) label, but future supply should reach hundreds of millions, according to a report published Friday.

Breaking ground and making deals - Biochar startup CarbonZero.Eco announced Thursday the completion of its commercial biochar production facility in Colusa County, California. The startup said the facility is strategically located adjacent to almond shell stockpiles, ensuring that no feedstock transportation is required and minimising operational emissions. The biochar produced on-site will be blended into compost used directly by partnering farms to enrich soils for future almond crop cycles. Overall, the company's partnerships with more than hundreds of almonds farms across Colusa and Yolo Counties look to enable the mitigation of up to 1.5 MtCO2 from agricultural waste. CarbonZero.Eco also announced what it called its first major commercial agreement, a deal with CDR company Climeworks, although no details were provided.

Bolivia launched last week a Military Unit of Emergency and Ecology designed to safeguard the country’s environmental assets, which will be partially funded by carbon credits, the newly inaugurated centre-right president has said.

Canada-Alberta’s carbon deal could drive over C$90 billion ($64 bln) in carbon capture, utilisation, and storage (CCUS) investment, but the province needs to execute several key market design tweaks to set millions of tonnes of emissions reductions in motion, according to a report published Thursday.

A group of economic experts warned on Thursday that small island developing states (SIDS) in the Caribbean face a number of economic challenges now that the global commitment to decarbonise shipping – an initiative that the countries supported – will be delayed for a year.

California Carbon Allowances (CCAs) inched closer to the $30 mark following the US Thanksgiving holiday as the market anticipates potential regulatory developments, while Washington Carbon Allowances (WCAs) broke records above $70.

Japan is emerging as a major player in the international carbon removal (CDR) space, but a stronger policy signal may be needed to drive more investment, a conference heard Thursday.

A UK-based carbon removal (CDR) programme published a report on Thursday calling for careful monitoring of public- and private-sector projects and transparent data sharing between all stakeholders to scale up deployments of technologies that remove GHG.

Interest in carbon removal credits is expanding across Canada's corporate sector, though high prices and perceived risks continue to limit near-term purchasing plans, according to a survey published on Wednesday.

Rate increase - The VCM registry and standard setter Climate Action Reserve (CAR) is raising its rates, it announced Thursday. Effective Jan. 1, 2026, CAR’s fees will increase from $0.19 per credit issued to $0.20, a reflection of inflation and increased operating costs, it said. It is the first issuance fee increase in over a decade. The new fee will be applied to projects submitted to CAR in 2026 onward, while projects submitted before Jan. 1 will be grandfathered into the $0.19 fee.

A Cameroon reforestation project plans to deploy $30 million over the next 10-12 years to restore 14,000 hectares of degraded communal forest and generate around 5 mln verified carbon units over a 40‑year crediting period, a webinar on Thursday heard.