Back spinning – Dominion Energy's 2.6-GW Coastal Virginia Offshore Wind project is set to deliver its first power to the grid by the end of March, with full completion now expected by early 2027 following a 26-day shutdown ordered by the Trump administration, Coastal Review reported. The project was about 70% complete by late January after a court granted a preliminary injunction allowing construction to resume, Dominion said in the latest project update. The company installed its first turbine on Jan. 27 and has completed all 176 monopole foundations for what will become the largest offshore wind farm in the US. The shutdown added $228 mln to project costs, bringing the total to $11.5 bln, including an estimated $580 mln in tariff-related expenses, according to the update. The facility will generate enough power for up to 660,000 homes when the 176 turbines are fully operational.

Round two – A Virginia Senate committee on Tuesday passed amendments to a budget bill that would accelerate the state's re-entry into RGGI, the Richmond Times-Dispatch reported. The Senate Finance & Appropriations Committee approved the changes to House Bill 29 (HB 29) on a 9-5 party-line vote at the request of Governor Abigail Spanberger (D). The amendments also included technical fixes to congressional redistricting provisions in the so-called "caboose" budget bill for the current fiscal year. Virginia previously participated in RGGI but withdrew from the programme in 2023.

RGGI Allowance (RGA) futures fell nearly 5% last week amid diminished demand stemming from retreating winter weather and additional incoming supply from next month's Q1 auction, market players told Carbon Pulse.

Transatlantic trash talk - US President Donald Trump criticised a new clean energy agreement between California and the United Kingdom, describing the arrangement as inappropriate and urging British officials not to engage with Governor Gavin Newsom (D). Speaking to POLITICO, Trump disparaged the Democratic governor and argued that Newsom’s environmental policies had harmed the state. His comments came after Newsom signed an MoU in London with UK Energy Secretary Ed Miliband, committing the two governments to collaborate on clean energy technologies and carbon management, among other topics.

A US-based company tackling decarbonisation of hard-to-abate sectors announced a $100 million first close of its Series D financing.

Concrete claims – CDR quality assurance provider Absolute Climate has launched a certification pathway allowing low-carbon products such as concrete, green steel, and sustainable aviation fuel to generate tradable Environmental Attribute Certificates (EACs). The company announced on Tuesday that each certificate represents a single verified claim, issued after the product passes through its supply chain and tracked via partner registries to prevent double-counting. It said the certification process reflects the specific climate impact delivered by each product, distinguishing industrial emissions reductions from carbon removals and using facility-level data and life cycle assessment to ensure claims remain clear and credible.

Most banks and investors have only begun integrating methane into transition plans and disclosures, with many lacking clear sectoral strategies tied to financed emissions, according to a new working paper.

New Mexico’s Senate has voted down legislation that would have written statewide GHG limits into law, with a group of Democrats joining Republicans to defeat the proposal requiring the state to reach net zero emissions by 2050.

A Swiss carbon removal (CDR) supplier announced Tuesday it has agreed a 10-year contract to supply carbon credits to a US-based retail group, marking the buyer’s first CDR purchase.

Carbon costs have become a major driver of European electricity prices and the widening gap with US power markets, accounting for the majority of the increase in recent years, according to analysis published last week.

Rapidly evolving carbon pricing regimes are reshaping global business costs and compliance obligations; Alwyn Hopkins, sustainability leader for industrials and energy at EY UK, outlines the practical steps companies need to take to prepare, respond, and thrive.

Security was a key driver of energy innovation last year, ahead of emissions reduction, whilst carbon removal and low-carbon industry were among growth areas for venture capital investment, according to the International Energy Agency (IEA).

Corporate adoption of sustainable aviation fuel (SAF) is being shaped by internal carbon pricing and broader decarbonisation strategies, though high costs and unclear accounting rules continue to constrain wider uptake, according to new research.

There are large and fast-evolving investment opportunities in the global decarbonisation space – even though carbon, nature, and biodiversity sectors are still classified as niche and emerging sectors, an investor conference heard on Tuesday.

FEED frenzy – Canada has opened a funding call to support front-end engineering and design studies for carbon capture, utilisation, and storage (CCUS) projects, aiming to advance capital projects toward final investment decisions. The Natural Resources Canada programme uses continuous intake with no fixed closing date, accepting applications on a rolling basis until funds are allocated, the government said. The call has two phases: an expression of interest stage open to all eligible applicants, followed by a full project proposal phase for invited applicants only. The initiative aims to position Canada as a CCUS leader and advance knowledge sharing on cost-effective project development.

Kraken the market – Octopus Energy is injecting nearly $1 bln into California clean tech, spanning carbon removal, heat batteries, and solar-plus-storage. The UK-based company will back two carbon removal companies focused on grassland restoration and reforestation, with big tech firms already lined up as credit offtakers. The investment will also support Bay Area heat battery technology and a solar-battery project set to launch in July. The deals form part of Octopus's plan to deploy $2 bln in US energy projects by 2030.  

The agriculture, forestry, and and land use (AFOLU) sector holds the largest potential to generate Internationally Traded Mitigation Outcomes (ITMOs) for Colombia under Article 6.2, while resulting revenues could multiple domestic emissions reductions if strategically invested, according to a new study.

California regulator ARB's proposed rule updates to the state's Cap-and-Invest Program have divided analysts, with some forecasting price rises in the medium term and others saying prices will hold near the floor until 2030.