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TOP STORY
FEATURE: Brazil redraws climate plan to split deforestation from agribusiness emissions
Brazil has overcome a political and technical impasse with the agribusiness sector by redrawing the way carbon emissions are allocated between agricultural production and land-use change under its national climate plan.
DAILY NEWS TICKER
CP Daily News Ticker: 19-21 December 2025
The CP Daily News Ticker is a running list of all our news updated in real-time throughout the day. This is also the home to our ‘Bite-sized updates from around the world’, which previously featured in our CP Daily newsletter.
AMERICAS
Ottawa proposes updates to carbon pricing benchmark, seeks to strengthen industrial markets
The Canadian federal government has launched a consultation on changes to its federal industrial carbon pricing benchmark, outlining proposals to strengthen market function, improve transparency, and ensure consistent coverage across provinces and territories, according to a government discussion paper.
Chile’s massive mining sector embarks on carbon pricing discussions
Chile’s Ministry of Mining (MMIN) will from 2025-29 participate in carbon pricing discussions aimed at decarbonising the country’s mammoth mining sector.
Allowances on offer rise more than 5% at Q1 WCI auction
The first California-Quebec joint WCI auction of 2026 will offer more than 5% fewer allowances than the Q4 2025 sale, according to a Friday notice.
Green industrial policy must be established before carbon pricing can work in US -study
An effective climate policy framework for the US should incorporate a two-pronged approach beginning with a green industrial policy followed by a carbon pricing mechanism, according to a study published Thursday.
CFTC: Producers build CCA, RGA holdings
As the end of year approaches, producers increased their net California Carbon Allowance (CCA) holdings in the futures only and futures and options markets, while reducing their RGGI Allowance (RGA) net short position over the Nov. 19-Dec. 9 period, US Commodity Futures Trading Commission (CFTC) data showed.
New York pension fund holds off on cutting ties with asset managers over climate commitment
New York City’s municipal public employee retirement fund earlier this week rejected the comptroller’s recommendation to cut ties with multiple asset management companies over their alleged retreat from climate efforts, drawing criticism from the outgoing official.
New Hampshire lawmakers introduce bill to implement RGGI programme changes
A bipartisan group of New Hampshire lawmakers have introduced legislation to implement stricter emissions caps and other programme changes approved in a RGGI review earlier this year.
ASIA PACIFIC
BRIEFING: Carbon market veterans urge early stability tools as India designs its ETS
As India moves closer to operationalising its Carbon Credit Trading Scheme (CCTS), global experts have urged policymakers to embed market stability mechanisms from the outset to avoid facing a prolonged periods of low prices, surplus of allowances, and politically difficult reforms.
Australia’s Productivity Commission pushes to expand Safeguard, price electricity sector emissions
The Australian Productivity Commission (PC) has delivered its final report to the government, urging it to expand the Safeguard Mechanism to other sectors such as electricity and lower its emissions threshold.
New Zealand Supreme Court rules climate change must be factored into oil and gas tenders
The Supreme Court of New Zealand has ruled that climate change must be considered when the government offers oil and gas exploration blocks for tender.
Japanese manufacturing group signs contract to buy JCM credits from Philippines’ rice project
An agricultural machinery maker has signed an agreement with a local developer for the sale and purchase of Joint Crediting Mechanism (JCM) credits generated in the Philippines, in a step towards using agricultural decarbonisation to offset corporate emissions, the company announced this week.
Japan to introduce floor, ceiling prices in GX-ETS starting 2026
Japan will implement upper and lower price limits in its national emissions trading system (ETS), when it enters full operation in 2026, according to government documents released Friday.
Rule change request made to price Australian electricity emissions
A rule change request has been submitted to the Australian Energy Market Commission (AEMC) seeking to charge electricity generators according to their carbon emissions.
ADB kicks off Mongolian grassland restoration pilot project
The Asian Development Bank (ADB) and the government of Mongolia launched a pilot project on Friday, aiming to restore areas of the country’s grassland, boost carbon sequestration, and inform an upcoming credit issuance regulation.
EMEA
UK ETS 2026 free allocation to drop by 2.8%
The UK ETS Authority has published its free allocation table for 2026, heralding a 2.8% drop in the annual free handout of UKAs to industrial installations and bringing the total reduction in free handouts since the market started to more than one-third.
Euro Markets: EUAs advance strongly in thinning market to post 1.2% weekly gain
EU carbon prices recorded a 1.2% weekly increase after the market advanced strongly on Friday afternoon, largely erasing the previous two days’ losses as liquidity declined ahead of the holiday break, while UK allowances continued to strengthen as traders bought in anticipation of a convergence in the two markets before an expected linking agreement next year.
Portugal launches seagrass restoration programme, eyes VCM
Portugal’s government has launched a two-year programme aimed at advancing the restoration of seagrass meadows, eyeing the development of carbon credit methodologies tailored to these ecosystems.
Europe falling short on offshore wind ambitions -report
Supply chain bottlenecks and trade barriers are slowing the rollout of new offshore wind farms across Europe, widening a gap that puts the bloc’s 2030 energy and climate goals at risk, a new report has warned.
Major agrifood companies in EU overlook environmental impacts beyond climate -study
Large agrifood companies operating in the EU fail to adequately disclose their most significant negative environmental impacts beyond climate, including those associated with biodiversity, a study has said.
Belgium reports lowest share of emissions trading checks in EU
Belgium was the country that checked the lowest share of compliance emissions trading data across the bloc in 2024.
INTERNATIONAL
UN body issues market-scouting call for 1.8 mln ITMO supply to support Switzerland’s NDC
A UN body launched a call for companies in the private sector to identify possible suppliers of high-integrity Article 6.2 Internationally Transferred Mitigation Outcomes (ITMOs) to Switzerland, it announced this week.
OECD study finds unilateral carbon pricing drives higher emissions embedded in imports
Unilateral climate action can increase emissions embedded in imports, especially via carbon pricing, while other policy tools lower import carbon intensity and encourage cleaner sourcing, a new working paper from the OECD showed.
VOLUNTARY
Carbon flows from DAC, CCS go unaccounted in inventories, report finds
Key carbon flows linked to technologies such as direct air capture (DAC), carbon capture and storage (CCS), and carbon capture and utilisation (CCU) remain untracked in many cases under current greenhouse gas inventory frameworks, a government-backed study has found.
Major soil carbon protocols deliver sharply different credits for same farm practices, study finds
Voluntary carbon market protocols for agricultural soil carbon can generate vastly different numbers of credits for the same underlying farming practices, raising fresh questions about whether such credits are truly equivalent, according to a new study.
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EVENTS
Carbon Forward Middle East 2026: Jan. 14-15, Abu Dhabi – CFME returns to the UAE with an expanded platform, joining forces with the World Future Energy Summit as part of Abu Dhabi Sustainability Week at the ADNEC Centre. The collaboration amplifies the event’s regional influence, strengthening dialogue on carbon markets, Article 6, and net zero strategies across the Gulf and beyond. Delivered in partnership with Offset8, this year’s programme will explore the region’s emerging carbon market ecosystem, global market trends, the growing role of both nature-based and engineered removals, and developments relating to international measures including CORSIA and CBAM. Register now
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