The Mexican state of Queretaro, one of the first in the country to operationalise a carbon tax, recently published the official guidelines for its Low Carbon Seal and Emissions Offsetting System linked to 2025 contributions onward, allowing selected companies to offset up to 50% of their taxed emissions through a hierarchical supply of carbon credits.

Morocco is aiming to develop a corresponding adjustments (CAs) methodology under Article 6 of the Paris Agreement this year, an expert said at Carbon Forward Middle East this week.

High demand - The Brazilian development bank (BNDES) and the state-owned oil company Petrobras received 16 proposals for their first call for carbon credit projects. The result was better than expected, the institutions announced on Friday. The round is part of the ProFloresta+ initiative, which incentivises forest restoration in the Amazon. The goal is to acquire 5 mln carbon credits in five contracts of 1 mln units each. The proposals will now be evaluated for their technical efficiency. The results, including winners, contracted volumes and prices to be paid for credits are expected in the first half of 2026.

Gevo has appointed Alex Clayton as its new chief carbon officer, the renewable fuels producer announced Friday.

Tamaulipas CCS - Representative Ana Laura Huerta Valdovinos of the Tamaulipas legislature is proposing a reform to the Climate Change Law that seeks to position the state as a regional hub for carbon capture, utilisation, and storage (CCUS), reported Tamaulipas Note. The proposed reform would introduce a legal definition of CCUS, aiming for alignment with international standards. It would recognise CCUS as a priority mitigation strategy and establish a state CCUS programme, including targets, lines of action, pilot projects and evaluation mechanisms. The initiative would also mandate coordination on mitigation efforts among state public agencies, including the ministries of environmental, energy, and economic ministries. Carbon credits are envisioned as a mechanism to incentivise private sector participation.

Spanish wood construction credits - Wood-based construction projects in the Spanish autonomous community of Galicia could become eligible to issue voluntary carbon credits under a proposed regional methodology, Campo Gallego reported Friday. Non-profit Fundacion Arume has submitted a technical framework to the Xunta de Galicia hall to certify CO2 stored in long-life wood products used in buildings, following the activation of Galicia’s voluntary carbon market by a late-2025 decree. The proposal sets accounting, measurement, reporting, and verification rules for net climate benefits, with credits issued at one tonne of CO2 per verified tonne stored. Eligibility would cover structural timber, glulam, CLT panels, and other engineered wood products, subject to sustainability certification, traceability, additionality, and a minimum 35-year permanence requirement.

Fifteen new projects, in countries including Egypt, India and South Korea, have been proposed under Article 6.4 of the Paris Agreement Crediting Mechanism (PACM), while Brazil signed agreements with Singapore and Switzerland paving the way for future bilateral trade under Article 6.2, a UN body said on Thursday.

DAC development - An engineering study to build Ireland's first large-scale carbon capture system was signed this week between NEG8 Carbon and Prochem Engineering. They will work on the first 50-tonne per year module of NEG8 Carbon’s direct air capture arrays, to be built at the NEG8 HQ in Waterford. The company expects its electrostatic technology to make DAC cheaper and more efficient and scalable. It works by drawing in air and passing it over a specifically designed sorbent system that attracts and captures CO2 molecules, which are then stored underground or converted into products like aviation fuel.

DAC deal - Wild Assets has agreed to buy carbon removals from Sirona's direct air capture (DAC) project, to be delivered from its upcoming commercial plant as capacity scales up. Sirona's modular DAC systems are made in Belgium and designed to be rapidly deployed across multiple project sites. The agreement with the CDR asset management firm falls among the 10-largest DAC deals in 2025, Sirona stated in the announcement, without specifying the monetary value or credit volume of the deal.

A global cement producer is beginning work on what could be the world’s first cement-linked carbon removal credits, a company representative told the Carbon Forward Middle East conference on Thursday.

A carbon market veteran has announced the launch of a Singapore-based climate advisory and solutions company focused on supporting the development of high-integrity carbon markets.

A Dubai-based developer has registered the Middle East’s first project under the Paris Agreement Crediting Mechanism (PACM), its CEO announced at Carbon Forward Middle East in Abu Dhabi: a landfill gas project in Jordan, transitioned over from the Kyoto-era Clean Development Mechanism (CDM).

The Malaysia Forest Fund (MFF), a federal government agency, has signed an agreement with a banking group to develop and pilot sustainable financing solutions aimed at supporting forest conservation and climate action.

Under pressure - Rising climate and nature risks combined with growing physical inactivity could cut sports industry revenues 14% by 2030, according to a report by the World Economic Forum and consultancy Oliver Wyman. The industry is projected to reach $8.8 trillion in annual revenue by 2050, but these combined risks could jeopardise $517 bln of this revenue by 2030 and without action, potential losses could increase to as much as $1.6 trillion by 2050. Environmental risks such as heat stress, extreme weather, and pollution are disrupting competitions and negatively impacting the sport supply chain. The industry adds to these pressures through its own resource-intensive nature, infrastructure, and travel - all of which contribute CO2 emissions, waste, and water use. The report suggests ways the industry can help actively shape conditions for better natural ecosystems and active societies. (Business Green)

Aravalli credits – India’s Environment Minister Bhupender Yadav has said that organisations that take up afforestation in degraded patches of the Aravalli range and achieve at least 40% canopy cover within four to five years can earn green credits under the country's Green Credit Programme, offering a financial incentive for restoration efforts. Yadav said that the programme is already underway in areas including Gurgaon and near Manesar, and that private and government entities can approach the environment ministry to participate in eco-restoration activities that qualify for green credits. (Hindustan Times)

CORSIA first - The first on-screen trade of the CBL GEO CP1 standardised contract for phase one of CORSIA was successfully executed on CBL this week, matched at $20/ton, Xpansiv revealed Thursday.  This followed a series of EEU auctions in partnership with International Air Transport Association (IATA) on the ACE - Aviation Carbon Exchange. All CBL GEO CP1-eligible project-specific EEUs are listed and available for trading on both CBL and ACE. Phase one CORSIA contracts (CP1X-GM) on the CIX exchange in Singapore were bid at $18.10 and offered at $19.44, CIX said earlier today.

Three private carbon crediting standards based in Colombia show notable strengths at the programme level, but must enhance emissions quantification systems, transparency, and governance structures to align with Article 6.2 of the Paris Agreement, according to a new assessment.