Towards PACM - Brazil’s Ministry of the Environment and Climate Change (MMA) held an information session on Dec. 11 on how projects under the Clean Development Mechanism (CDM) will be transitioned to the Paris Agreement Carbon Mechanism (PACM). Of the projects in transition, 60% are from the energy sector, 33% from waste management, with the remainder from industrial and forestry initiatives. The approval process was agreed in October, and there is currently an open call for stakeholders to comment on the projects under review. The session was conducted by the Department of Market Instruments and REDD+ within the National Secretariat for Climate Change (SMC).

Voluntary carbon market standard Verra has published an initial list of approved insurers to support project developers for credits eligible under the UN’s international aviation emissions scheme, CORSIA.

A proposed US carbon border measure would cut global emissions while raising roughly $100 billion in revenue over its first decade, with most reductions and revenues occurring domestically, according to a new analysis.

The EU's Carbon Border Adjustment Mechanism (CBAM) has succeeded in encouraging more countries to pursue carbon pricing, and will have a minimal impact on the world's poorest countries once its begins charging a carbon fee, the European Commission found in a review of the mechanism's two-year transition.

Spain and Denmark are leading the development of green hydrogen and e-fuel projects for maritime use, though a lack of regulatory certainty is holding back progress, according to new research published Thursday.

Voluntary and regulated carbon markets are converging, a development that could mark a "turning point" for climate finance, according to a new research paper.

Norway's domestic climate measures are now almost sufficient to limit warming to less than 2C, but its efforts are stymied by continued oil and gas exports, according to research released on Thursday.

Another hot year - Global temperatures are expected average 1.46C above pre-industrial levels in 2026, making it one of the four warmest years on record, the UK's Met Office warned on Thursday. This would fall just behind the 1.55C recorded in 2024, the first year temperatures exceeded the Paris Agreement's goal to limit warming to 1.5C. It would also mark the fourth year in a row with warming at 1.4C or more.

The beginnings of a cleaner chemicals industry are starting to take shape in Europe, with new plants coming online in the next few years expected to reduce lifecycle emissions 80% compared to fossil-based production.