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.

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.

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.

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)

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.

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)

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).

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).

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)

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.

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.

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.