Ag partners – Ireland and New Zealand have agreed to advance their collaboration on research to cut agriculture emissions, the Beehive said on Wednesday. This follows a NZ$34.5 mln ($20 mln) Joint Research Initiative (JRI) pilot, launched in 2022 to bolster climate change research. The second phase of the JRI will identify projects to advance, building on the 11 under the pilot. The two countries also launched the 2026-30 strategic plan for the Global Research Alliance (GRA) on Agricultural Greenhouse Gases, which has flagged advancing scientific research, strengthening capacity and knowledge sharing, building effective collaboration and partnerships, and leveraging financial and other resources as its priorities. The GRA supports research on cutting emissions from livestock, cropping, and paddy rice.

Voyage volatility – A multi-year study has found that hydrogen-fuelled ships need a design-based safety approach, as the fuel poses distinct hazards compared with other marine fuel alternatives. DNV, in a report commissioned by the European Maritime Safety Agency (EMSA), recommended secondary enclosures across all hydrogen-carrying components and additional technical barriers to manage leakage and explosion risks. The study also flagged occupational safety risks for crews, saying seafarers will need specialised training, clear procedures, and safety management systems to handle hydrogen-specific hazards.

Global investment in clean energy technologies reached a record $1.96 trillion in 2025, but a sharp drop in manufacturing spending, driven largely by China, points to a market correction after years of rapid expansion, according to a report published Wednesday.

Oil prices spiking to $140/bbl for two months alongside a large rise in natural gas prices would send the world into recession, according to analysts.

Long-term, patient investors and larger economies are likely to drive a bigger share of global climate spending, according to a new paper from think tank Bruegel.

The war in the Middle East has exposed the world's fossil fuel dependency, which will stoke a "resource nationalism" where countries recognise the value of domestic renewables and improve circularity for better energy security, a webinar heard.

A new AI-powered platform aims to help carbon project developers identify compliance gaps early, potentially shortening certification timelines which often stretch for months or even years, its co-founder and CEO told Carbon Pulse in an exclusive interview ahead of the Wednesday launch.

Shipping traffic through the Straits of Hormuz will remain slim though to early April, with LNG production in Qatar and the United Arab Emirates gradually returning to full capacity by the second half of May, according to an analyst groups' base case scenario forecast.

More than 30 companies have committed 0.1% of their annual revenue to a new platform mobilising private finance for clean energy in emerging markets.

Extending emissions trading systems to cover more sectors and types of greenhouse gases comes with significant benefits beyond emission reductions, as long as policymakers tackle challenges such as where to set the cap on pollution permits early on, according to a report. 

The UNFCCC has validated Indonesia’s reported forest-sector emissions reductions under its latest submission, supporting the Southeast Asian nation in unlocking results-based climate finance, while also highlighting areas for further improvement in data transparency and consistency.

Rainforest rehab - The Sabah ranforest rehabilitation project in Malaysia has begun issuing carbon credits, with nearly 1 mln tonnes of carbon removals now available. Developed by Face the Future in partnership with Yayasan Sabah, the project has restored more than 25,000 ha of logged‑over dipterocarp rainforest. It's been awarded an A pre overall rating and an AA score for permanence by BeZero, which places it among the highest-rated Improved Forest Management (IFM) projects globally.    

Australia's carbon market saw its smallest issuance in 12 months, as a conservation alliance pushed the government to "urgently" develop a national restoration plan, saying lack of coordination was putting the country's climate targets in peril.

Thermal power generation in China increased in the first two months of 2026 from a year ago, while energy produced from renewable sources posted stronger growth, according to the latest government data.

Biochar scale-up – Singapore-based developer Alcom has partnered with ARKA Climate and Greenerth to develop and scale industrial-grade biochar projects in India, aiming to upgrade existing artisanal operations into larger, commercially viable systems. Under the collaboration, traditional kon-tiki kilns will be converted into advanced pyrolysis units, with Alcom supplying technology through its partnership with Tapi Healthcare. The initiative is part of Alcom’s broader strategy to expand biochar production across Asia by integrating co-products and maximising value across supply chains. The company said it is targeting the development of more than 15 plants and the generation of up to 1 MtCO2e removal in the coming years through its scale-up plans.

Companies often retire offsets from the same countries where they operate, even though carbon is globally fungible, according to new academic research that questions how effectively voluntary carbon markets allocate climate finance.

Tax gas profits - The ongoing war in the Middle East has exposed how Australia fails to capture the financial benefits of its own energy exports due to weak taxation and policy settings, think tank The Superpower Institute argued Wednesday. It estimates Australia could have brought in around A$18.6 bln ($13.2 bln) or more in additional revenue from windfall profits if stronger resource taxes that it has previously proposed were in place, but instead much of this value goes to largely foreign-owned gas companies. As a result, Australians face higher energy costs during global crises while missing out on significant public revenue that could strengthen the budget and economy, it argued.

Green steel - Tata Steel has signed an MoU with University of Science and Technology Beijing to collaborate on the development of low-carbon steelmaking technologies, the company said. Under the collaboration, teams from both sides will jointly undertake research across four broad themes addressing low-carbon steelmaking: scrap-based steelmaking, steel waste valorisation, end-product performance, and carbon capture and utilisation technologies. The collaboration will focus on jointly developing and testing new technologies that can be scaled from pilot stages to industrial application.

Green steel greenlit – New Zealand’s first steel recycling plant has been approved via the country’s fast-track process, the Beehive announced on Wednesday. Based in Hampton Downs in the Waikato region, National Green Steel’s solar-powered plant will process around 200,000 tonnes of recycled steel annually and will use an electric arc furnace (EAF) to produce high-quality structural steel, the government said. At present, New Zealand exports scrap metal and imports structural steel; the project will avoid around 83,000 tCO2e per year of emissions associated with the shipping for these exports and imports, according to the project’s emissions plan. NZ Steel is also installing an EAF to recycle steel, partly funded by the now-defunct Government Investment in Decarbonising Industry Fund, which redirected NZ ETS proceeds to projects to cut industrial emissions. It is expected to be commissioned this year.

Forward forests – The Vanuatu government, in conjunction with the Seoul-based Global Green Growth Institute (GGGI), have refined four investment proposals for the Pacific Island’s forestry sector, to support its NDC. The four proposals focus on: afforestation and reforestation, restoration, agroforestry, and the establishment of a national forest-data system, GGGI said in a Tuesday press release. The initiative is aiming to mobilise climate finance and accelerate implementation of Vanuatu’s NDC, by strengthening investment planning for the forestry sector, said Regional Pacific NDC Hub Vanuatu Focal Point and Acting Director for the Department of Climate Change Nelson Kalo. Check out Carbon Pulse’s NDC Portal for more information on Vanuatu’s NDC 3.0.  

Quantum leap – Scientists in Australia have built the world's first proof-of-concept quantum battery, the country’s science agency CSIRO said on Wednesday. unlike conventional batteries, which rely on chemical reactions, quantum batteries leverage superposition and entanglement. The prototype had a multi-layered organic microcavity, which traps and manipulates light, and was charged via a laser. It was found to be able to store energy for six orders of magnitude longer than it took to charge. The next step is to extend the storage time, which – if overcome – makes a commercially viable battery closer, said lead scientist James Quach.

A nature-based project developer and an ecotourism operator have joined up to form a new venture focussing on carbon projects in Indonesia, Malaysia, and broader Southeast Asia, they announced.

The New Zealand government has confirmed its 2040 goal to double the use of geothermal energy, with the release of a detailed strategy plan on Tuesday alongside the announcement of a further NZ$ 50 million ($29.3 mln) in funding via a regional development facility.

Appeal appealing – Activist shareholder group the Australasian Centre for Corporate Responsibility (ACCR) has appealed the Federal Court decision in its greenwashing case against oil and gas company Santos last month, it announced. The court dismissed ACCR's allegations that Santos had deceived or misled shareholders in its 2020 annual report over its climate targets. However, ACCR Co-CEO Brynn O'Brien said in a statement Wednesday that the judgment sets the bar for corporate communication about climate commitments well below market and investor expectations, and that it increases the burden on investors to interrogate the full context in which claims are being are made. They said businesses need clear guidance on the standards governing climate disclosures. The group has engaged the specialist corporate and consumer law team at Webb Henderson on appeal.

New Zealand allowances were trading up slightly on Wednesday following a substantial futures block trade the day before, as traders mull the impacts of the ongoing war in the Middle East on the ETS.