Carbon leakage has been estimated to offset between 5-30% of domestic emissions reductions in most recent studies, according to a new review that proposes a framework for analysing the spillover effects of mitigation efforts.

In his 12th letter from the COP30 presidency, Brazilian COP President Andre Correa do Lago has introduced a two-tier multilateralism framework to accelerate climate action, warning that consensus-based decision-making alone is too slow to match the pace of global warming.

A major exchange group in Asia and a stock exchange in Latin America signed a Memorandum of Understanding (MoU) on Tuesday to promote the development of carbon markets in their regions and advance sustainable finance.

Issuances were increasingly concentrated in newer vintages (less than 4 years old) in 2025, which is consistent with stronger buyer preferences linked to integrity considerations, according to a report from an NGO, published on Tuesday. 

The potential adoption of a global price on shipping emissions later this year requires regaining the support of countries who were previously in favour but voted for a one-year delay in October, after a US-led opposition campaign, experts told Carbon Pulse.

Indonesia’s push to dominate global nickel supply chains for electric vehicles is driving a rapid expansion of captive coal-fired power plants, putting the country’s climate targets in jeopardy and exposing its exports to possible carbon penalties, a report warned on Tuesday.

India will not be granted exemption from the EU’s Carbon Border Adjustment Mechanism (CBAM) under a landmark free trade agreement signed in New Delhi today, officials stressed, saying the two sides will instead open a “technical dialogue” to ease implementing issues.

A Qatar-headquartered carbon standard is moving to embed biodiversity co-benefits more deeply into its framework, while signalling that a standalone nature markets remain a longer-term ambition dependent on regulatory and demand-side development.

China's environment ministry has mapped out its work priorities for this year, including proposing revisions to the country's emissions trading regulations and expanding the supply of nationally issued carbon offsets.

Indonesia has completed the delivery of all contracted forest carbon units under its results-based payment agreement with the World Bank’s Forest Carbon Partnership Facility (FCPF), marking one of the largest jurisdictional REDD+ transactions to date.

Potential incentive - The Taiwanese government is considering promoting the application of facade-integrated photovoltaics (FIPV), used to replace conventional building materials for electricity generation, via carbon pricing mechanisms, local media reported. In Taiwan, large new buildings with a floor area of more than 1,000 square metres would be required to install rooftop solar panels later this year. In order to further encourage the installation, the Ministry of the Interior has said it will discuss with the environment ministry whether it is possible to grant carbon credits for FIPV projects.

Moves in Japanese power market - Morgan Stanley is set to enter Japan's spot power market, the latest overseas financial institution to capitalise on the volatile market. It has designated a person to hire and lead personnel for its spot trading business in the country, according to Bloomberg. Meanwhile, Enechain, a startup operating the largest energy marketplace in Japan, recently raised JPY 5.05 bln yen ($31.9 mln) to support its business expansion. Cumulative gross merchandise volume in Enechain's core wholesale electricity market has surpassed JPY 3 trillion, company data showed.      

Malaysia’s rapid growth in private car ownership risks undermining efforts to decarbonise its transport sector, with rising vehicle demand projected to outpace emissions reductions from electric vehicles, according to a recent report.

Deeper cuts in emissions from power generation, transport, and agriculture will be needed for Australia to make its 2050 net zero goal credible, the OECD said in a report published last week.

The Australian government has begun its formal consultation work on the long-awaited integrated farm land management (IFLM) carbon credit method, however "considerable revisions" to the exposure draft are already being called for.

Travel decarb - Indonesia will launch a transportation decarbonisation roadmap in May of this year, setting out medium- and long-term measures to cut emissions across land, air, and maritime transport, state news agency Antara reported, citing a senior minister. The plan will prioritise rail expansion across Sumatra, Kalimantan, and Sulawesi provinces, alongside regulations to support the use of sustainable aviation fuel. It will also allow the use of carbon offset mechanisms within transport subsectors to help meet national climate targets. Officials hope the roadmap can be showcased at the COP31 climate talks in Turkiye in November.

A6 forum - A Japan-Mongolia carbon market forum will be held in Ulaanbaatar on Feb. 27, aiming to spur deal-making momentum under the Joint Crediting Mechanism (JCM), Article 6 Implementation Partnership (A6IP) Centre announced. Co-organised by the Mongolian and Japanese environment and energy ministries, the event will focus on rules-to-projects execution of Paris Agreement Article 6. Sessions will cover JCM frameworks, crediting procedures and methodologies, alongside tech-forward pitches from Japanese and Mongolian firms.

Malaysia's government agency for forest financing mechanisms has established a partnership with a crediting standard to strengthen emerging forest carbon frameworks, they announced Tuesday.

Up and running - Australian oil and gas operator Santos has announced the first LNG cargo from the Barossa project has been successfully loaded, departing Darwin on Jan. 25. The Barossa project is covered under Australia's Safeguard Mechanism and operated by Santos which has a 50% stake, followed by Prism Energy International Australia (37.5%, and Jera Australia (12.5%). The backfill project is one of Australia's most polluting projects, thanks to the Barossa gas field's high CO2 content. The project is expected to abate some of its high emissions through the Bayu-Undan CCS project, which Santos is in the process of front-end engineering design work for, however it is unclear if it will reach a final investment decision.

Growing more wild - Australian nonprofit Forever Wild has acquired the Challa Station, in Western Australia, it announced on a LinkedIn post. The station includes the human-induced regeneration project (ERF121431) of the same name which has generated 121,120 Australian Carbon Credit Units since it was first registered, according to data from the Clean Energy Regulator. It follows Forever Wild announcing it had purchased the nearby Meeline Station last week. Forever Wild executive director Fiachra Kearney said in the post the purchase was completed as part of a "large, multi-million dollar" nature finance investment representing over seven years of work to create a single contiguous landscape protecting large scale ecosystem services. The FWI Western Deserts Programme has now created one of Australia's largest privately managed conservation landscapes covering more than 600,000 ha, according to Kearney.

Australia will hold its first auction event for its fledgling offshore wind sector in August, the Victorian state government announced Tuesday.