Egypt’s trade ministry this week decreed that exporters operating in several sectors covered by the EU’s Carbon Border Adjustment Mechanism (CBAM) must submit copies of CO2 emissions reports for official review and analysis, to support global market access.

Media reports this week suggesting the European Commission plans to relax the planned phaseout of free carbon permit allocation to industry sent benchmark EUAs plunging at their lowest level for four months, but analysts have cautioned that the selling has been highly speculative and the market is likely to remain fundamentally tight in 2026.

Methane plea - US Democratic lawmakers have penned a letter urging the EU to maintain "robust and consistent implementation" of its methane regulation (EUMR). The administration of President Donald Trump and US oil and gas groups have also called for adjustments to the regulation. The Democratic lawmakers said the EUMR is a critical measure for incentivising the capture of GHGs, and clear, consistent rules would be important for minimising trade barriers for lower-methane energy sources between the US and EU, as well as alleviating the bloc's reliance on Russian natural gas.

Climate finance cuts - The UK govt plans to cut aid to poor countries hit by the climate crisis by more than a fifth - from £11.6 bln over the past five years to £9 bln in the next five, the Guardian reported. Accounting for inflation, this would represent a reduction of about 40% in spending power since 2021 when the £11.6 bln budget was agreed. The £9 bln climate spending pledge will likely equate to £2 bln a year over the next three years, then £1.5 bln a year in 2029-30 and 2030-31, which is beyond the current parliament. Experts have complained that UK climate finance lacks transparency over spending, made worse since Brexit as the country no longer follows EU reporting standards. Some civil servants are reportedly relabelling projects focused on other social issues under the climate finance umbrella.

The UK has joined the Global Green Growth Institute’s (GGGI) Carbon Transaction Facility (CTF) in an effort to back international carbon trading under Article 6 of the Paris Agreement and strengthen global cooperation on mitigation outcomes.