Standard body Verra has released a revised methodology for grid-connected renewable electricity generation under its Verified Carbon Standard (VCS), marking a significant overhaul of the legacy Clean Development Mechanism (CDM) approach.

South Korea’s finance ministry, alongside the UNFCCC and the Global Green Growth Institute (GGGI), launched on Wednesday a carbon market initiative aimed at aligning voluntary markets globally with the Paris Agreement Crediting Mechanism (PACM).

Current net zero pledges could bring global warming closer to a well-below 2C pathway but leave a persistent emissions gap, while limiting temperature rise to 1.5C without overshoot is “increasingly unlikely”, according to a study published Tuesday.

Airlines are yet to deliver meaningful demand for CORSIA-eligible credits, despite repeated assurances of commitment, leaving a growing pipeline of eligible carbon credits in search of buyers and raising concerns among project developers, insurers, and analysts about the pace of investment.

A London-based think tank analysed 30 oil and gas companies, finding their emission reduction targets remain generally incompatible with the Paris Agreement despite some improvements on methane.

EU carbon prices rose slightly on Thursday morning as a low-key market traded around a key technical level, while energy markets strengthened as the stand-off between the United States and Iran in the Strait of Hormuz continued.

UK oil major BP suffered a heavy shareholder defeat at its annual general meeting on Thursday that could set back its plans to pivot back to fossil fuels.

Nigeria has boosted Phase 1 CORSIA supply by almost 4 four million credits, a developer said Thursday.

Governance challenges are emerging as the main barriers to scaling investment in conservation projects, with market participants warning that financial risks increasingly stem from social and institutional factors rather than carbon accounting.

Restoring degraded soils could help rebuild natural water cycles that play a major role in regulating the planet’s temperature, according to experts highlighting the potential of nature-based solutions (NbS) beyond emissions cuts and carbon sequestration.

Paris intends to oppose the inclusion of municipal waste incinerators in the EU's Emissions Trading System (ETS), in an outline of its initial views on the market's upcoming revision, due in July.

The European Commission is racing to put the final pieces of the EU’s Carbon Removal and Carbon Farming (CRCF) in place, as around 10 permanent carbon removal schemes prepare to seek recognition, but experts consulted on Thursday still expressed puzzlement over the programme.

Stakeholders have urged the UN to allow for new nitric acid plants to generate carbon credits under a draft Article 6.4 methodology, as excluding greenfield facilities could undermine incentives to cut N2O emissions.

Disadvantaged isles - EU island states such as Malta, Cyprus, and Ireland are at a specific disadvantage due to the imposition of the EU ETS on aviation and shipping, given that their geographical realities mean they are especially reliant on these industries for trade, argues George Mangion, senior partner at audit and tax firm PKF Malta. In a piece for the Malta Business Weekly, he points to estimates by the Central Bank of Malta that suggest including aviation in the EU ETS results in flights to/from Malta costing an extra €88 mln annually. Meanwhile, emissions-related costs are increasing the cost of importing and exporting goods, leading to higher costs for consumers. There is also the risk of trade bypassing Malta in favour of hubs in North Africa to avoid ETS charges. The ETS is needed to address climate change impacts, but it undermines Malta's position and Europe's broader maritime competitiveness, Mangion states.

The European Investment Bank (EIB) Group has approved €10 billion in new financing, with nearly €2 bln earmarked to accelerate Europe’s transition to clean energy and strengthen energy independence amid ongoing geopolitical tensions.

Climate change will not feature on the agenda of a meeting of G7 nations, in order to avoid tensions with the US, a French news outlet reported Thursday.

The European Commission has agreed to accelerate the verification of emissions embedded in Ukrainian exports subject to the EU's Carbon Border Adjustment Mechanism (CBAM) to relieve pressure caused by the country's war with Russia, a minister said this week.

A carbon removal financier has agreed to purchase more than 425,000 carbon credits from biochar facilities in southern India, it announced Tuesday.

Estonian aid – The EU Commission has approved a €36 mln state aid scheme to cut electricity levies for energy-intensive industries in Estonia, aiming to prevent carbon leakage, the EU executive announced on Thursday. Eligible sectors under the 2022 Guidelines on State aid for climate, environmental protection and energy (CEEAG) will receive levy reductions of 75-85%, with a minimum rate of €0.5/MWh. In return, companies must adopt energy efficiency measures, use renewables, or invest in emissions-cutting projects. The scheme runs through 31 December 2029.

The UK government should seize the opportunity to unlock billions of investment and thousands of jobs by championing the country's carbon market through better inter-governmental alignment, said industry bodies in a new report.

The CORSIA futures curve now has shape out to the end of the decade after a single lot on the Dec-30 contract was bought on the ICE exchange.

Germany-based carbon market participants on Thursday called for stronger political recognition and clearer rules for the use of carbon credits, saying uncertainty is creating hesitation among buyers in the voluntary carbon market (VCM).

Near-term uncertainty about robust carbon pricing is strengthening the business case to capture CO2 for re-use in applications like sustainable aviation fuel and microbial oils to displace fossil-based feedstocks, said a stakeholder in an EU-funded project for a circular CO2 economy.

Carbon project developer South Pole has appointed Leila Toplic as Chief Product & Go To Market (GtM) Officer, the Swiss company announced Thursday.

The upcoming revision of the EU’s Emissions Trading System (ETS) cannot stop at the cap trajectory and other technical adjustments, according to a Brussels think tank, which calls for deeper fixes to address Europe’s flagging economic competitiveness.