Voluntary program body BioCarbon is consulting on a revised version of its biodiversity standard as it continues to pursue international recognition as a high-integrity certification body, this time seeking to align with the Biodiversity Credit Alliance’s (BCA) High-level Principles, Carbon Pulse has learned.

Investment in biofuels hit a new peak in 2025 as a result of increased debt financing, in a sign that more capital is going towards getting commercial-scale projects off the ground rather than validating the technology, according to new analysis.

Some airlines are responding to a worldwide scarcity of CORSIA-eligible units by pre-emptively investing in promising pipeline projects, according to an insurer speaking last week at Carbon Forward Middle East in Abu Dhabi.

Australia risks distorting land investment and undermining biodiversity unless it integrates better planning into the design of its carbon market, according to a climate policy think tank.

Greener flights - Indonesia’s state-owned aviation and tourism holding company PT Aviasi Pariwisata Indonesia (InJourney) aims to cut up to 4,000 tCO2e by 2026 through wider use of renewable energy and tighter environmental management, Ecobiz Asia reported. The target will be implemented by the rollout of solar power plants at airports operated by its aviation unit, which manages 37 airports nationwide. Solar installations are expected to deliver about half of the planned emissions cuts, with the remainder coming from better hotel waste management, electric vehicle use at tourism sites, and tree and mangrove planting.

Transforming power sector - The Indian government has released the Draft National Electricity Policy (NEP) 2026 for public consultation, setting ambitious targets to transform the power sector in line with the nation’s long-term development and climate goals, the Ministry of Power announced. The draft policy aims to raise per capita electricity consumption to 2,000 kWh by 2030 and over 4,000 kWh by 2047, while aligning with India’s commitments to reduce emissions intensity and achieve net zero emissions goal by 2070. The NEP proposes a range of reforms, including resource adequacy planning, accelerated development of nuclear and hydro power generation, enhanced transmission and distribution efficiency, and market and grid modernisation measures to support reliable, affordable and sustainable power for India’s growing economy.

Climate bill soon - Malaysia’s National Climate Change Bill is set to be tabled for its first reading in the current parliamentary session, Deputy Natural Resources and Environmental Sustainability Minister Syed Ibrahim said. The ministry is also finalising the National Carbon Market Policy, which would create a framework for carbon trading, including Internationally Transferred Mitigation Outcomes, and enhance transparency through strengthened emissions measurement and reporting mechanisms. The bill and policy are expected to pave the way for Malaysia to become a regional centre for carbon trading and contribute to sustainable green economic growth.

South Korea's trade and industry ministry has introduced a KRW 25 billion ($17 million) bidding mechanism to fund domestic carbon reduction projects.

Entities covered under the Safeguard Mechanism last quarter already began to surrender a substantial volume of Australian Carbon Credit Units (ACCUs) in the December quarter.

Coal cough up - The Western Australian government has announced it has secured funding to see Griffin Coal's Ewington coal mine continue to operate from July 2026 by up to five years, it announced. The government argued the extension will provide energy security during the energy transition. It added that WA is on track to retire all state-owned coal-fired power stations by 2030. It follows the New South Wales government and Origin Energy announcing earlier this week that the Eraring coal-fired power station will have its closure postponed to 2029.

Consequences - Indonesia has revoked environmental permits for 28 companies, including a China-backed hydropower project and a gold mining unit of Astra International, after linking their activities to deforestation that worsened deadly floods in Sumatra, Reuters reported. President Prabowo Subianto said the firms breached environmental rules across forestry, plantations, power and mining sectors. Those affected include PT North Sumatra Hydro Energy, controlled by SDIC Power Holdings, and Astra’s Agincourt unit, which runs the Martabe gold mine.

The top 10 corporate emitters of fossil fuel and cement CO2 in 2024 were all fully or majority state-owned companies and together accounted for more than one quarter of global fossil CO2 emissions, while a total of just 32 companies were linked to more than half of global emissions, according to a new analysis published on Wednesday.

Regulatory uncertainty in Indonesia’s carbon markets means sourcing investors remains challenging for a local waste-to-energy project, the developer told Carbon Pulse on the sidelines of Abu Dhabi Sustainability Week.

Blue carbon alliance - Japan's shipping major MOL has teamed up with Tokio Marine Asset Management and Idemitsu Kosan to explore the potential of blue carbon across the country, the companies announced Wednesday. The alliance will participate in a seagrass bed restoration project in Shimane Prefecture and other coastal areas, in order to gain the practical know-how and insights. The companies will also explore the development and feasibility of large-scale projects.    

SAF support - Australia's Viva Energy has signed an agreement with ASX-listed NoviqTech to support their sustainable aviation fuel (SAF) book-and-claim project, the latter told the market Wednesday. NoviqTech will support Viva to explore, validate and refine digital approaches to SAF book-and-claim systems, including governance models, certificate lifecycle management, and alignment with emerging sustainability standards, the announcement said. The work is partly funded by the Australian Renewable Energy Agency, which last year awarded Viva Energy A$2.39 mln ($1.6 mln) to establish SAF infrastructure to support Brisbane Airport.

The chair of Australia’s Clean Energy Regulator (CER), which oversees the country’s carbon market, is set to retire in July.

Indonesia has become the latest country to join the Coalition to Grow Carbon Markets, raising the number of nations in the group to 11.