The head of California's regulator ARB said the agency has built in enough time to make any potential necessary changes to the state's proposed cap-and-invest programme update before a board vote planned in May, she told a local media outlet in a Sunday interview.

Tool fix, grid mix - Verra is seeking funders, technical contributors, and independent expert reviewers to help revise VT0011, its tool for estimating grid electricity emission factors used across Verified Carbon Standard (VCS) methodologies. The proposed revision would consolidate the tool into a standalone document, removing its current reliance on the Clean Development Mechanism's TOOL07, and would merge it with the related VT0010 tool to reduce cross-referencing. Verra also plans to introduce simplified calculation procedures, improved quantification approaches, and potentially an hourly marginal emission factor. The revision is currently at the methodology idea note stage.

Bank's carbon homework - Deutsche Bank purchased and retired just under 101,600 tonnes of CO2e in voluntary carbon credits in 2025, sourced from projects across Asia, Africa, and Latin America, according to its annual report. Some 83% of the credits came from emissions reduction projects, with the remaining 17% from removal projects including biochar and nature-based solutions. By standard, 75% were issued under Verra, 12% under Gold Standard, 8% under Global C-Sink Registry, and 5% under Puro.earth. The German lender said credits are used only to offset residual Scope 1, Scope 2, and business travel emissions that cannot be eliminated through efficiency or renewable energy measures. Separately, Deutsche Bank signed a letter of intent at COP30 with Honduras and Suriname to develop sovereign rainforest carbon credits under Article 6.2 of the Paris Agreement.

Enhanced weathering (EW) could remove hundreds of millions of tonnes of CO2 each year, though major uncertainties remain around how much carbon ultimately reaches long-term storage, according to a new study.

Rising attendance has driven a 26-fold increase in emissions from air travel to United Nations climate negotiations over the past three decades, with delegate flights generating more than 710,000 tonnes of CO2e since the mid-1990s, according to a new study.

More LNG, more oil - The US Department of Energy on Friday authorised an immediate 13% increase in exports from Plaquemines LNG Terminal, allowing the facility to ship an additional 0.45 billion cubic feet per day (Bcf/d) of liquefied natural gas to countries without a US free trade agreement. The decision raises the terminal’s total authorised export capacity to 3.85 Bcf/d to both FTA and non-FTA countries. The terminal, operated by Venture Global LNG, began exporting LNG in Dec. 2024 and has already ramped up shipments to more than 3 Bcf/d. The DOE said the move is intended to strengthen global gas supply and expand the availability of US LNG exports, particularly to non-FTA countries that import most US LNG. Officials added that additional export capacity increases are expected at Plaquemines and other US LNG facilities as new projects come online. The DOE also on Friday issued a request for proposals to exchange 86 mln barrels of crude oil from the Strategic Petroleum Reserve, the first tranche of a 172-mln-barrel exchange announced earlier in the week. Under the arrangement, companies will borrow oil from the reserve and later return it with additional barrels as a premium, allowing the reserve to increase its holdings while supplying crude to the market without direct cost to taxpayers. Deliveries from storage sites at Bryan Mound, West Hackberry, and Bayou Choctaw are expected to begin by the end of next week. Borrowed barrels will be returned later on a schedule designed to avoid disrupting commercial markets. The exchange forms part of a coordinated release by International Energy Agency member countries totalling 400 mln barrels from strategic reserves, aimed at stabilising global oil markets amid supply disruptions linked to tensions in the Middle East. The Strategic Petroleum Reserve currently holds about 415 mln barrels of crude oil, compared with roughly 395 mln barrels a year ago.

Burning desire - Evidence filed in an ongoing rate hearing indicates that New Brunswick’s provincial utility, N.B. Power, has relied on fossil fuels for electricity generation more heavily over the past year than at any time in more than a decade, likely pushing its annual GHG emissions above 3 Mt. Updated generation data submitted to the New Brunswick Energy and Utilities Board show increased use of coal, oil, petroleum coke, and natural gas. Fossil fuel generation is projected to reach about 5.2 mln MWh this year, the highest level of “thermal” generation in 16 years. A major driver is higher output from the Coleson Cove generating station, which is expected to burn about 3.8 mln barrels of heavy fuel oil, roughly 60% more than the previous year. The plant has been used more frequently due to downtime at the Point Lepreau nuclear station and to take advantage of high electricity export prices. The rise in emissions comes despite the utility’s stated goal of becoming a net zero electricity provider by 2035 and amid increasing carbon penalty costs, which N.B. Power’s chief financial officer said have grown from zero in recent years to about C$49 mln, projected to reach around C$69 mln by 2028-29. At the same hearing, the utility proposed a premium “net zero” electricity rate allowing customers to pay extra for non-emitting energy, though details remain limited. Senior executives acknowledged that the current generation mix still includes significant fossil fuel use. (CBC)

Debt reduction - Offset project developer DevvStream Corp. on Friday announced a set of transactions with strategic partners aimed at strengthening its balance sheet by reducing debt and securing additional funding. Focus Impact Partners and its affiliates converted all of their 5.3% convertible notes due in Nov. 2026, along with certain consulting fees, into DevvStream equity. The conversion totals about $5.5 mln and was executed at a 12.9% premium to the company’s Mar. 10, 2026 closing share price. Helena Partners released about $1.2 mln from DevvStream’s cash collateral account tied to a $10 mln convertible note issued in July 2025, enabling the company to prepay roughly $1.1 mln of debt. Helena also agreed to waive monthly interest payments on the note through May 2026. Helena additionally provided a $700,000 loan at 0% interest, due in Mar. 2027, to support DevvStream’s working capital needs. Overall, the transactions reduce DevvStream’s outstanding debt by approximately $5.9 mln and are intended to improve the company’s capital structure while providing short-term liquidity support.

WCI board meeting - The Board of Directors for the Western Climate Initiative (WCI), which serves as market administrator for the California-Quebec and Washington cap-and-invest programmes, will meet on Mar. 25, it was announced on Friday. During the public session, the board will review and consider approval of the Dec. 17, 2025 meeting minutes and the Washington State Funding Agreement Amendment. Stakeholders and members of the public are invited to attend this meeting - which will be conducted in both French and English - via teleconference. Meeting agenda and materials will be posted once available, and interested parties can register here.

It's official - Bill C-4 has received Royal Assent in Canada, meaning the Apr. 2025 removal of consumer-facing carbon tax has been enshrined legislatively, according to a press release from the country's Department of Finance. The department said the removal from legislation means Canadian consumers and businesses will have certainty that the consumer-facing carbon tax is being permanently eliminated.

Washington's Department of Ecology (ECY) on Friday published a notice for a Allowance Price Containment Reserve (APCR) sale in May following last week's Q1 carbon auction, while also dismissing in a technical analysis the notion of a facility-specific emissions cap under its programme.

Managed money reduced net length in the California Carbon Allowance (CCA) and RGGI Allowance (RGA) markets over the Mar 4-10 period, according to US Commodity Futures Trading Commission (CFTC) data published Friday.

Increasing investment in forest-based climate solutions could significantly boost carbon sequestration in the US by 2035, according to new preprint research.

Plastic partnership – Abundia Global Impact Group, a US energy company, announced it has signed a licensing and partnership deal with Danish technology firm Topsoe on Thursday. The agreement will see Abundia deploy Topsoe’s HydroFlex upgrading technology at its waste-plastics-to-renewable products facility in Baytown, Texas, and includes a long-term commitment to use the platform across multiple future projects. The companies said the agreement supports Abundia’s commercialisation strategy and path to a final investment decision in 2026. Through the project, Abundia intends to  increase US production of sustainable aviation fuel (SAF) and renewable diesel.

Canada Climate course – Environment and Climate Change Canada (ECCC) released its 2026-27 Departmental Plan on Friday, outlining how the department will implement the federal government’s climate and environmental priorities. The plan reiterates efforts to advance the Climate Competitiveness Strategy, and to deliver programmes including the Low Carbon Economy Fund and Output-Based Pricing System (OBPS) Proceeds Fund. It also says ECCC will work with provinces to improve industrial carbon pricing systems and develop a post-2030 carbon pricing trajectory aligned with the country’s 2050 net zero goal. The plan further confirms Canada’s first national strategy addressing environmental racism will be published in 2026.

Reactor rebuke - Sen. Sheldon Whitehouse (D-RI), the top Democrat on the Senate Environment and Public Works Committee, has criticised a US DOE proposal to speed permitting for advanced nuclear reactors by creating new categorical exclusions under the National Environmental Policy Act, arguing the approach could be applied too broadly and weaken environmental review, E&E News reported. In formal comments filed Thursday, Whitehouse challenged the DOE’s rationale for allowing some advanced reactors to bypass detailed reviews, including its reliance on prior approvals and analyses of similar designs that found limited safety risks. The proposed rule could apply to experimental reactors under a DOE programme targeting at least three advanced commercial reactor demonstrations by July 4.

First in Salta - Argentina’s carbon market continues to develop slowly and largely at the provincial level, with the northern province of Salta reporting the first carbon credit sales from a local REDD+ project, the government announced this week. Authorities said the privately led Selva de Urundel REDD+ initiative, registered under Verra, sold some 300,000 credits after completing its first monitoring period. The project, located in the Oran department, marks the first private initiative in Salta to receive issuance and commercialise credits under international standards.

Verification venture - Brightspot Climate, a Canada-based climate advisory and verification firm, announced on Friday has expanded its accreditation with the Standards Council of Canada to include verification services under Canada’s Clean Fuel Regulations (CFR), allowing it to support compliance in the federal programme aimed at lowering the carbon intensity of transportation fuels. The regulations require liquid fossil fuel suppliers to reduce the carbon intensity of fuels they produce and sell or purchase compliance credits generated through emissions-reduction projects, low-carbon fuels, or energy supplied to advanced vehicle technologies. The CFR market now includes more than 160 registered credit creators and over 140 suppliers, supported by 15 accredited verification bodies.

Disclosure development - California regulator ARB will hold a virtual public workshop on Mar. 23 to support development of the state’s corporate GHG reporting programme under Senate Bill 253. The session will include updates on the Aug. 10 deadline for companies to report Scope 1 and Scope 2 emissions and outline regulatory plans for 2027-30, including potential Scope 3 reporting requirements. The programme applies to US-based companies with more than $1 bln in annual revenue that do business in California. A public comment docket will remain open from Mar. 23 to Apr. 13.

Mexican sustainability reporting - Mexico’s finance ministry (SHCP) and banking regulator (CNBV) have published a technical guide to help listed companies prepare their first mandatory sustainability disclosures, including instructions on reporting Scope 1, 2, and 3 emissions and the use of carbon credits in corporate footprints, they announced on Thursday. The guidelines support implementation of the IFRS Sustainability Disclosure Standards (IFRS S1 and S2), which became mandatory for Mexican issuers after amendments to the securities circular in Jan.  2025. Under the rules, sustainability information must be included in annual reports for the 2025 fiscal year, with the first filings due by Apr. 30, 2026, depending on shareholder meeting dates.

The US should take the lead in establishing governance for solar radiation management (SRM) technologies to prevent geopolitical tensions and national security risks as the field develops, according to a recently-published report.

Scientists have identified a widespread shift in the structure of Amazon rainforest canopies towards younger, more photosynthetically efficient leaves over the past two decades, a trend that could have implications for the performance and modelling of forest carbon offset projects.

One of the largest cooperation agreements to curb deforestation in the Amazon has renewed its commitment with a second country, extending efforts beyond 2030 with an emphasis on results-based payments and carbon markets regulation.

The government of Indonesia will pilot a new global framework for standardising carbon credit data as part of efforts to strengthen transparency and interoperability in carbon markets, according to an announcement Friday.

Global toy manufacturer Lego Group holds a balance of 42,000 carbon credits after retiring 25,000 units in 2025 as part of a strategy to reduce emissions across its value chain, it said in its latest annual report, published this week.

RGGI Allowance (RGA) futures jumped more than 10% on Friday following the release of Q1 auction results that showed a sell-out just below $25, a strong premium to front-month prices ahead of the sale, as the Cost Containment Reserve (CCR) was again depleted at the first sale of the year.

Officials from the Trump administration have been in the EU this week, reportedly pushing for a full US exemption from the bloc’s anti-deforestation regulation ahead of the European Commission’s upcoming review.

Sanction lift - The US has announced a 30-day waiver on sanctions of Russian oil at sea in response to rising energy prices and heightening concern about global supplies. The short-term measure only applies to oil already in transit and won't significantly benefit the Russian govt, which derives most of its energy revenue from taxes at the point of extraction, said US Treasury secretary Scott Bessent. Despite this, brent crude remained above $100 per barrel during early trading on Friday. Moscow claimed on Friday it was “increasingly inevitable” that Washington would lift sanctions. (the Guardian)  

A Perth-based energy company has agreed to acquire up to 6.6 million carbon credits from forestry and mangrove restoration projects in Mexico and Indonesia, a US law firm that advised on the transaction announced on Thursday.

A Canada-based carbon finance firm has agreed to sell its rights to the community carbon stream and associated carbon credits for a total of $6 million, the company announced Thursday.

Clean power and electrification would do more to shield Europe from future price shocks than weakening the EU Emissions Trading System (ETS), a study published Friday by a global energy think tank said, adding that the Middle East war has again exposed the bloc's vulnerability to gas price volatility.

Cables for data - Miner Rio Tinto and cable manufacturer Prysmian are working together on an industrial trial to produce low carbon aluminium cables for the growing data centre market, according to an announcement. The project uses aluminium from Rio Tinto’s hydropowered smelter in Quebec along with aluminium made using ELYSIS technology, which eliminates direct GHG emissions from the smelting process and releases oxygen instead. Building on a five-year supply agreement signed in 2023, the partnership aims to accelerate lower-carbon aluminium solutions for applications such as energy transmission and data-centre infrastructure, helping customers reduce the carbon footprint of critical IT systems.

Nova Scotia IFM - Oregon-based carbon finance non-profit The Climate Trust (TCT) has announced a partnership with Nova Scotia Working Woodlands Trust (NSWWT) to develop a carbon project across multiple privately-owned forest properties in Nova Scotia. The move marks TCT’s first Improved Forest Management (IFM) carbon project in Canada. The project will be developed under the Improved Forest Management on Canadian Forestlands Methodology with ACR, and will employ a dynamic baseline with a comparable property component to ensure high integrity.

New data tool - Carbon market intelligence platform Clever Offsets announced Thursday the launch of its Enterprise Module, which it said provides market participants with structured data and analytical tools to assess delivery risk across categories and portfolios at scale. The new offering is meant to empower market participants to apply their own underwriting frameworks, diversify exposure, and engage with greater confidence, aiming to meet institutional risk appetites and support broader financial participation. 

California cap-and-invest controversy - California gubernatorial candidate Steve Hilton (R) wrote to the state's largest oil companies this week urging them not to abandon the state, promising to overhaul leadership at the different state regulatory bodies, the New York Post reported. Hilton calls for eliminating cap-and-invest costs, which he characterises as hidden taxes funding wasteful spending. His intervention comes as gasoline prices in California have surpassed $5 per gallon. A new Emerson College poll shows US Representative Eric Swalwell (D) leading all candidates at 17.3%, ahead of Hilton at 13.3% and fellow Republican Chad Bianco at 11.4%, with 24.5% undecided. Elsewhere, Antonio Villaraigosa, former mayor of Los Angeles and a Democratic gubernatorial candidate, issued a statement that state regulator ARB should prioritise affordability and economic stability when considering planned updates to the state's Quebec-linked ETs, E&E reported. State Democratic Party Chair Rusty Hicks previously urged weaker candidates to drop out, warning a splintered Democratic vote could allow two Republicans to advance to the November general election,  Los Angeles Times reported.

Republican rebuke - A US congressman urged Governor Gavin Newsom (D) and the state regulator ARB to reverse California's proposed cap-and-invest regulation updates, warning it could add $1.21 per gallon to California gasoline prices and push annual industry compliance costs to $1.5 bln within a decade. California Representative Vince Fong (R) said in a letter that the state had already lost nearly 20% of its refining capacity in the past two years, increasing dependence on imported fuel and exposing the state to supply chain vulnerabilities. He also warned the proposal would weaken fuel supply chains supporting West Coast military operations. Fong said more than 360 energy companies had left California since 2018 due to regulatory pressure.

Data dispute dismissed - A federal judge has dismissed a lawsuit accusing the Trump administration of harming environmental and scientific groups by removing government webpages containing climate and environmental justice data, E&E News reported. In a ruling Wednesday, US District Judge Rudolph Contreras said the plaintiffs had not demonstrated a concrete injury required to bring the case, noting that the underlying data remained accessible and that the groups had not shown a legally recognised right to the specific information hosted on those webpages. The coalition had argued that the removal of materials from agencies including the US EPA undermined efforts to address environmental harms affecting communities, but the court found that any impact on advocacy or public education activities was insufficient to establish legal standing.

Coal crunch - Colorado’s largest electric utility, Xcel Energy, warned regulators it may delay planned coal plant retirements after projecting “significant capacity shortfalls” through the winter of 2028, according to a Mar. 2 filing, E&E News reported. The company cited rising electricity demand, supply-chain constraints, and changing grid conditions as factors behind the potential gap. To maintain reliability, Xcel said it could extend operations at several coal units – including Unit 2 at the Comanche Generating Station, which had been slated to retire last year, and two units at the Hayden Generating Station, currently scheduled to close in 2027 and 2028 – potentially keeping them online until 2030.

California Carbon Allowance (CCA) futures benchmark contract fell below $29 on Thursday after a federal challenge was launched against California's electric vehicle policy, while Washington Carbon Allowances (WCAs) dropped further following weaker-than-expected Q1 auction results.

Climate-AI fellows - Environmental disclosure non-profit CDP has announced a Google.org Fellowship. The fellowship team will support CDP in building an AI-powered tool to transform how cities, states, and regions use CDP’s environmental dataset to help them reduce risk and drive action for the future.