A global industrial decarbonisation equipment company announced the appointment of a new CEO in conjunction with its $27 million Series B raise on Tuesday.

Pump pain, poll games – California's gubernatorial candidates took contrasting positions on the state's environmental programmes amid growing affordability concerns in individual CBS News interviews. Steve Hilton (R) called for repealing the Low Carbon Fuel Standard (LCFS) and restructuring how the cap-and-invest programme is levied, arguing he planned to achieve $3/gal gasoline prices through regulatory changes alone and without legislative support. Chad Bianco (R), sheriff of Riverside County, similarly blamed environmental regulations for high fuel costs, and said he would immediately cut rules which are driving up prices. US Representative Eric Swalwell (D) said he supported maintaining the state's environmental leadership while pursuing an all-of-the-above energy approach, with affordability central. An Evitarus poll sponsored by the California Democratic Party, conducted Mar. 31-Apr. 5, and released Tuesday – a day after US President Donald Trump (R) endorsed Hilton – showed the two Republican candidates tied at 14%, followed by Swalwell at 12%, and businessman Tom Steyer (D) at 11%, and 24% undecided. Just over half of respondents said California was on the wrong track. A separate KStrat poll showed Hilton leading at 19%, followed by Swalwell and Steyer at 13% each, although 20% remained unsure. In addition, 58% of those polled said the state is heading in the wrong direction. The June 2 all-party primary also includes Democrats Xavier Becerra, Katie Porter, Antonio Villaraigosa, Tony Thurmond, Matt Mahan, and Betty Yee. The top two finishers will advance to the Nov. 3 general election.

Gas, gas, gas - European banks poured $42 bln into expanding gas power between 2021 and 2024, supporting the planned development of more than 320 gas power plants worldwide, a lobby group has warned. Some 24 banks increased the amount of finance flowing to the biggest global gas power developers by 6% year-on-year over the four year, although the bulk, some 64%, came from just seven French and UK banks, according to Reclaim Finance. Recent tensions in the Middle East are a stark reminder that a system based on gas brings instability, not security, said Reclaim Finance campaigner Remi Hermant in a statement. Ending financial support for gas power expansion is long overdue. Reclaim Finance is now urging banks to commit to ending all support for the expansion of gas power generation and to initiate a rapid phaseout of their exposure. The lobby group said the bank's commitments must result in robust policies that must include strict restrictions on the financial services they provide to gas plant developers.

Transition credits would benefit from targeted guidance, with tailored definitions and requirements regarding environmental and social integrity, according to an Integrity Council for the Voluntary Carbon Market (ICVCM) working group examining the assessment of emerging approaches to phasing out fossil fuel-fired power plants.

Data centre block loading – Maine is on track to become the first state to ban the construction of data centres, according to a report by Axios. The outlet reported the bill is expected to pass the Senate and be signed by Gov. Janet Mills (D). It’s one of at least 11 states that have proposed legislation to restrict data centre development since late 2025. Sen. Bernie Sanders (D) and Rep. Alexandria Ocasio-Cortez (D) have also proposed federal legislation.

The US Gulf Coast, West Texas, Oklahoma, and Midwest consistently demonstrate high suitability for natural gas with carbon, capture, and storage (CCS), according to an environmental policy non-profit.

Carbon market analysts offered broadly positive outlooks on the formalisation of planned updates to the California cap-and-invest programme via the Initial Statement of Reasons (ISOR) but said they expected linkage with Washington to occur in 2028 at the earliest during a workshop hosted last week by Carbon Pulse.

Project finance – Brazil’s national development bank (BNDES) announced on Tuesday that it has disbursed R$21 mln ($4 mln) to restore 900 ha in the Irati National Forest. The funds will be allocated to sustainable management and ecological restoration activities, including the gradual removal of exotic species and their replacement with native species linked to the Atlantic Forest biome. This initial disbursement for the Irati National Forest project, led by the group Ibema Participacoes, was made possible through a partnership with BTG Pactual and Safra. The amount forms part of a R$110 mln financing package approved and announced during COP30 in Belem for BNDES’s first concession in the Atlantic Forest.

The UK’s climate advisers have urged the government to expand emissions coverage under the UK ETS to include CO2 transported by road, rail, and smaller ships, arguing the move would support the rollout of CCS without loosening the scheme’s cap.

Plug-in power - Maine’s governor, Janet Mills (D), on Monday signed into law LD 1730, legislation that would allow residents to use small plug-in solar and battery devices to offset electricity use, making it the third US state to adopt such measures after Utah and Virginia. The bill permits retail customers to install a single system of up to 1200W that can connect to standard outlets if compliant with National Electrical Code and UL safety standards, including emerging UL 3700 guidelines. It prohibits utilities from requiring interconnection agreements or fees, while introducing two system classes: devices above 420W must be installed by a licensed electrician and reported to utilities; whereas smaller systems can be self-installed without notification.

Q1 stats - Nodal Exchange announced on Tuesday that trades in carbon allowance futures across WCI, RGGI, and Washington markets increased 70% year-on-year (YoY) in Q1 to roughly 63,100 lots. Open interest was also up 3% to around just over 53,000 lots. Nodal announced at the end of last month its launch of cash-settled California Carbon Allowance (CCA) futures contracts.

Supercomputer standoff - The non-profit University Corporation for Atmospheric Research (UCAR) has filed a motion in federal court seeking to block the Trump administration’s plans to dismantle the National Center for Atmospheric Research (NCAR), including transferring its Wyoming-based supercomputing facility to a new operator, E&E News reported. The preliminary injunction request, filed in the US District Court for the District of Colorado, is part of an ongoing lawsuit launched on Mar. 16 alleging the administration is attempting to break up NCAR in retaliation against Colorado Gov. Jared Polis (D), who has resisted federal pressure related to a separate election-related case. The dispute follows a Dec. 2025 announcement from the White House Office of Management and Budget outlining plans to restructure NCAR, along with a January solicitation from the National Science Foundation seeking input on the institution’s future and a subsequent February notice indicating its intent to change management of the supercomputing centre.

Climate case continues - A US federal judge has allowed a lawsuit against a Swiss-based insurance company to proceed, rejecting the firm’s attempt to dismiss claims brought by advocacy group As You Sow over the exclusion of a climate-related shareholder proposal from its 2026 annual meeting, E&E News reported. In a ruling last week, Judge Sparkle Sooknanan of the US District Court for the District of Columbia said the case could continue despite expressing doubts about the strength of the plaintiff’s arguments, stating the group had “not met its burden” to show it would likely succeed. The judge also denied a request for a preliminary injunction that would have required the company to include the proposal – seeking a third-party study on the benefits of suing companies responsible for climate change – on the shareholder ballot, but declined to dismiss the case at an early stage.

The Paris Agreement’s goal of limiting global average temperature rise to 1.5C above preindustrial levels is no longer plausible, a new report has said.

International climate finance commitments risk displacing development aid and continue to favour mitigation over adaptation, raising concerns about the effectiveness of a new global funding goal, according to a recently-published study.

As EU policymakers decide what counts under the CBAM as an effective carbon price paid abroad, a special case – jurisdictions that allow carbon taxes to be offset with voluntary carbon credits – raises questions about which carbon prices follow in the spirit of the regulation.

The past month in climate litigation saw courts across multiple jurisdictions weigh greenwashing allegations and reject liability claims against major emitters, though one legal researcher said a landmark ruling in a decade-old case against a German utility has cracked the door open for more to come.

One of Latin America's largest clean cookstove projects recently received an AA rating and is now aiming to be eligible for the international aviation offsetting scheme (CORSIA).

The price of CORSIA eligible credits rose to their highest level since February last week, despite experts warning a prolonged Middle East war may have downside risks for demand.

Trade in European carbon allowances resumed quietly after the Easter break, with prices ending the day marginally lower as the market preferred to await the expiry of the latest US deadline for Iran to agree to reopen the Strait of Hormuz, while traders also waited for news on verified emissions from 2025 and on benchmarks for free allocation.

A Calgary-based carbon offset provider is partnering with a Swiss GHG accounting and sustainability advisory firm to expand its offerings.

All hands on deck - Ghana's Environmental Protection Agency (EPA) is contemplating carrying out a study into the feasibility of introducing “a novel voluntary domestic carbon credit trading scheme involving Ghana's top 100 GHG emitting companies" to support the implementation of its NDC, wrote Daniel Tutu Benefoh of the EPA on LinkedIn. Benefoh, who leads the organisation's mitigation, GHG inventory, and reporting programme, said the plan is to start with a concept note, followed by consultations, a survey, design options, a pilot, and finally a phased rollout.

Farmers oppose CBAM - The UK govt has been urged to drop the upcoming levy on fertiliser imports under its Carbon Border Adjustment Mechanism (CBAM) set to commence from Jan. 1, 2027. Farmers say the tax will compound the high costs facing the sector driven by the Iran war, and the National Farmers Union (NFU) is calling on the govt to postpone the levy and review the situation in a year's time. Right-wing party Reform UK has also opposed the tax, as has fertiliser producer Nitrasol. Fertiliser prices in the UK have increased by around 50% since the conflict broke out, with cost increases set to be passed onto consumers through the supply chain. (the Telegraph)

The Q2 RGGI carbon auction will offer a slightly higher number of allowances than the first sale of the year, as well as the most since 2023, according to a notice published Tuesday.

Turbulent waters - The first Contract for Difference (CfD) awarded to a floating offshore wind farm in the UK has been terminated, reported energy publication PeakLoad. Developer Hexicon secured a £87.30/MWh, 15-year strike price for its TwinHub floating wind project off the coast of Cornwall in 2022 from the Department for Energy Security and Net Zero (DESNZ) and the contract was pulled on Mar. 27. The news follows a number of project setbacks, as well as the UK govt decision to ban Ming Yang turbines in its waters, which had been Hexicon's preferred manufacturer for TwinHub.

Canada's electric shift – Parcel and freight carrier GLS Canada and Orange EV, a Kansas-based manufacturer of electric terminal trucks, have deployed electric yard trucks across Montreal, Toronto, and Winnipeg to support the decarbonisation of logistics operations, it was announced on Monday. The companies said the rollout of Orange EV’s HUSK-e terminal trucks marks one of the first such deployments by a major parcel and freight carrier in Canada. Each vehicle is expected to eliminate 80-90 tonnes of CO2 annually.. The move forms part of GLS Canada’s broader emissions reduction strategy aligned with Science Based Targets initiative (SBTi) goals.

A Switzerland-based carbon standard has opened a public consultation on an updated methodology for biochar carbon removal credits, introducing changes to how carbon storage durability is assessed and expanding participation in projects, it said.

A German peatland restoration project has partnered with a carbon market intermediary to sell credits from a rewetted site in Lower Saxony, it announced Tuesday.

The EU’s heavy dependence on imported oil and gas is undermining the European Central Bank’s ability to keep prices stable and strengthens the case for a rapid shift to clean energy, an ECB executive board member has said.

Swiss alignment - Switzerland has proposed a new law setting out updated sustainability-related reporting and due diligence obligations for large companies. The proposed Federal Act on Sustainable Corporate Governance would broadly align obligations for Swiss companies with those of their European peers under the EU’s recently updated Corporate Sustainability Reporting Directive (CSRD) and Corporate Sustainability Due Diligence Directive (CSDDD). Similar to the updated CSRD, Switzerland’s new sustainability reporting obligations will apply to companies with at least 1,000 employees and CHF450 mln (€488 mln), or about 100 companies. The due diligence obligations under the proposed law would also apply a CSDDD-like threshold of 5,000 employees and CHF1.5 bln, and would apply to about 30 companies. (ESG Today)

New recruit - Law firm Philip Lee has expanded its US team by recruiting Walker Stanovsky as counsel, who brings with him over 10 years experience advising clients on carbon, climate, and clean energy. His practice spans voluntary and compliance carbon markets, climate project development, carbon credit transactions, and the legal and regulatory frameworks behind climate solutions. He has advised on matters including soil carbon, carbon removal credit structures, and corporate climate strategy and reporting. (Irish Legal News)

The US oil blockade of Cuba has exacerbated the country's energy security problem, while also accelerating a shift to renewables, which has included a push to develop carbon markets, according to experts.

A Formula E team on Tuesday said it will plant more than 500,000 mangroves in India’s Sundarbans over five years, as part of a corporate social responsibility initiative.

South Africa's levy on CO2 emissions is not considered to be under imminent threat, according to experts based in the country, despite an escalating energy crisis and recent attempts to pause the policy from within the national government.

Biochar credit prices are diverging, with industrial projects priced higher than artisanal alternatives, reflecting differences in monitoring, durability, and delivery risk, according to a new analysis.

The European Commission has confirmed the first quarterly reference price for certificates used in the EU's Carbon Border Adjustment Mechanism (CBAM).

A US-based forest carbon project developer said on Tuesday it had been issued more than 95,000 carbon credits carrying Verra’s carbon removals tag, marking the first issuance from a US-based IFM project using the registry’s new tool.

The Polish Electricity Association (PKEE) has welcomed the European Commission’s plan to halt the automatic cancellation of excess EU carbon allowances held in the Market Stability Reserve (MSR), but warned that the proposal falls short of the structural reforms needed to curb price volatility in the EU Emissions Trading System (EU ETS).

A US-based aerospace company has agreed to purchase at least 40,000 soil-based carbon removal (CDR) credits from a Texas-based developer under a multi-year offtake deal, the companies announced last week.

Carbon accounting for finance – The Partnership for Carbon Accounting Financials (PCAF), a global initiative of financial institutions, reported rapid expansion in 2025, with 151 new signatories taking its membership to 719 institutions managing nearly $100 trillion in assets across more than 85 countries. The initiative updated its global Scope 3 Category 15 standard, expanded technical assistance and database tools, and integrated the CEDA dataset to support more granular financed emissions accounting. Accredited partners rose from 8 to 31 worldwide, PCAF launched an India chapter and a new Engagement Group for central banks and regulators, and now receives 84% of its $7.1 million revenue from signatory fees.

UK inflation response – The Bank of England is set for a renewed split over how aggressively to respond to an energy-driven inflation shock linked to the Iran war, after a rare unanimous decision to hold Bank Rate at 3.75% in March, the FT reports. Governor Andrew Bailey has signalled that weaker demand and labour markets should make “second round” effects from higher energy and food prices less likely than in 2021-22, while chief economist Huw Pill and deputy governor Clare Lombardelli are expected to take a more hawkish line. Investors see a 33% chance of an April rate rise and are pricing in about two hikes this year, a trajectory that will shape financing conditions for UK energy and carbon market participants. (Financial Times)

Drop in the ocean - Opening major new fields - Jackdaw and Rosebank - in the UK's North Sea would make almost no difference to the country's reliance on gas imports, according to research by campaign group Uplift. The Jackdaw field would displace only 2% of the UK's current gas imports over its nine- to 12-year lifetime, while Rosebank would displace a mere 1%, said Uplift, which compiled the data from public sources. Both fields are not covered by the ban on new North Sea drilling licences because their applications were already underway when the Labour govt took office, and the party's facing growing pressure from the industry and opposition to give them the green light. Ed Miliband, the secretary of state for energy security and net zero, has not yet publicly decided on either field. Any decision on Rosebank could be taken separately from that of Jackdaw, with Rosebank mainly oil for export and not for energy security, said Uplift. Some 90% of the UK's North Sea oil and gas has already been burned. Several authorities say that new drilling wouldn't reduce oil and gas prices, improve energy security, or produce durable jobs or major new tax revenues. (the Guardian)

Greenlighted - The joint committee for the Joint Crediting Mechanism (JCM) between Japan and Sri Lanka has approved an emissions reduction project, according to a notice released Monday. The JCM project (LK_PIN006) aims to cut emissions by introducing cold chain technologies in Northern Province. It comes after the committee last year objected to a solar power project due to additionality concerns.

China has the potential to reach greenhouse gas neutrality by 2060, but achieving the target requires "unprecedented, cross-sectoral mitigation efforts" far exceeding those required for CO2 neutrality, a new paper argued.

SAF deal - Indian biochar developer Varhad Capital has signed an agreement with UK-based e-fuels company Velocys to develop biomass SAF projects using agricultural residues, the companies said. The partnership will combine Varhad’s gasification platform with Velocys’ Fischer-Tropsch technology to enable scalable fuel production, starting with a hub-and-spoke model. The firms aim to produce cost-competitive, domestically manufactured SAF amid rising aviation demand and policy support for local supply, they said. Initial projects will focus on converting syngas derived from biomass into drop-in aviation fuels.

A flagship forest carbon project in Indonesia is shifting ownership into local hands from its Hong Kong-based developer, as regulatory pressure reshapes control over voluntary market assets in the country.

Biogas push - India’s Ministry of Petroleum and Natural Gas has opened applications for its Biomass Aggregation Machinery (BAM) portal, offering financial support to compressed biogas (CBG) producers. The scheme aims to scale feedstock supply by subsidising procurement of biomass aggregation equipment. Developers must register on both the GOBARdhan unified portal and the BAM platform to qualify for assistance.

Pursuing an innovation-driven, low-emissions economic pathway could boost New Zealand’s GDP by more than NZ$33 billion ($18.8 bln) annually by 2050, and deliver an additional 22% of emissions reductions compared to relying just on the country’s carbon market, a recent report said.

Ethiopia could unlock billions of dollars in carbon market revenues by scaling up land-based sequestration activities, but will need to overhaul governance frameworks and prioritise state-led pilot projects to attract investment, according to a new study.

Population ageing is likely to drive an increase in household carbon emissions through shifting consumption patterns and expanded demand for energy-intensive services, according to new research based on Chinese household data.

Plugged in – The Asian Development Bank (ADB) has launched a new trust fund under the ASEAN Power Grid Financing Initiative to help accelerate the development of a connected regional electricity grid across Southeast Asia, it announced. The fund will support project preparation, technical assistance, and capacity building to turn planned cross-border interconnection projects into bankable investments and mobilise public and private finance, ADB said. It aims to boost renewable energy deployment, improve energy security, and strengthen regional cooperation by enabling greater cross-border electricity trade and integration.

A new decarbonisation fund has launched in Australia, with the government's Clean Energy Finance Corporation (CEFC) acting as a cornerstone investor.

Farm funds – The New Zealand government will put forward legislation to enable high country farmers – in the South Island – to more easily expand and diversify their income, including hosting renewable energy projects, the Beehive announced on Tuesday. Modelling suggested that allowing a wider range of economic activity on the land will increase its value, including by up to NZ$18,500 ($10,543) for solar projects, said Land Information Minister Chris Penk. New Zealand's grid is dominated by renewables – chiefly hydropower – but the country is grappling with growing demand, gas shortages, and dry-year risk; its current plan for energy security, the construction of an LNG import terminal, is under growing pressure amid the war in the Middle East.

Vote no – Proxy shareholder group Institutional Shareholder Services (ISS) has recommended voting against the BP board’s move to scrap some of the oil and gas major’s climate reporting, Reuters reported. Resolution 23 at BP’s upcoming AGM asks shareholders to revoke 2015 and 2019 resolutions pertaining to climate disclosures, saying that new mandatory climate-related reporting requirements have superseded them. However, ISS reportedly said that this argument is not a sufficiently compelling reason to retire the past resolutions. The Apr. 23 AGM will also consider a resolution coordinated by the Australasian Centre for Corporate Responsibility, calling on BP to disclose by 2027 how its new investment in oil and gas will create value for shareholders. A second climate-related resolution from a shareholder group was omitted from the agenda, prompting proponent Follow This to threaten legal action.

Ciao net zero – A carbon removal industry network launched in Italy as the Rete Italiana Rimozione Carbonio (RIRC). In its initial announcement, RIRC said it aims to connect companies, startups, research, and policy to accelerate the development of CDR solutions in the country. The network seeks to build a "solid" national supply chain and encourage work between the public and private sectors. RIRC is hosting a CDR event in Padua on Apr. 14 focused on Italian and European climate neutrality.

Financial players reversed their RGGI Allowance (RGA) net short position for the first time this year, while trimming their California Carbon Allowance (CCA) net length, according to latest data from the US Commodity Futures Trading Commission (CFTC).