Six of the world’s biggest oil and gas companies are projected to earn almost $3,000 every second in 2026 while households continue to struggle with energy costs worldwide, Oxfam warned on Monday, one day before the first global conference on transitioning away from fossil fuels.

Energy-intensive firms’ ability to pass carbon costs on to customers and secure sufficient financing will be decisive in determining whether they can survive tightening climate policy and deliver decarbonisation, according to new research.

A Californian bean-to-bar chocolate company helped co-found a biochar tech platform through which it plans to decarbonise its cocoa supply chain while converting agricultural waste into biochar.

Financial players extended their net length in California Carbon Allowance (CCA) and RGGI Allowance (RGA) holdings, moving in opposite directions from emitters, according to the latest data from the US Commodity Futures Trading Commission (CFTC).

Timber turnaround – At an Empire Club luncheon in Toronto on Friday, Canada’s natural resources minister Tim Hodgson said a newly completed federal task force report will guide a national forest strategy aimed at revitalising the sector. He said the report responds to two priorities set earlier this year: diversifying export markets beyond the US and boosting domestic demand for Canadian wood. The strategy, being developed with provinces, territories, and Indigenous Peoples, is expected to be released later this year. Hodgson also said the federal government is continuing work to advance the Ottawa-Alberta memorandum of understanding (MoU) on carbon pricing and the Pathways Project, and aims to finalise an AI framework under the agreement by July 1.

Trash talk - Environmental groups and community organisations have raised concerns over proposed amendments to California’s landfill methane rules, warning they could weaken protections adopted just months after the state regulator ARB approved what were described as the strictest standards in the US, E&E News reported. In a letter sent Friday, groups including the Environmental Defense Fund and the Coalition for Clean Air said the changes could reduce oversight, citing provisions that would allow monitoring to drop to once every six months if carbon monoxide levels remain low, even where subsurface landfill temperatures extremely high temperatures. The groups argue this could increase risks from methane leaks. The concerns follow a 2023 state mapping study that identified 143 methane plumes from landfills, underscoring the scale of emissions the rules are intended to address.

Climate cost crunch - Maine has enacted legislation directing the state to quantify the financial impacts of historical GHG emissions, laying groundwork for a potential climate superfund. Signed into law on Apr. 16, LD 1870 requires the Department of Environmental Protection to assess costs incurred between 1995-2024 across areas including public health, natural resources, agriculture, and infrastructure, as well as projected future damages and abatement expenses. The department must deliver its findings by Jan. 1, 2028, after which lawmakers may consider further legislation, including mechanisms to recover costs from major emitters. The law allocates $600,000 for the assessment and positions Maine alongside other states exploring policies to assign financial responsibility for climate-related damages.

Companies face growing exposure to climate litigation not from a lack of environmental ambition but from gaps between public commitments and operational reality, a report published on Thursday found.

A Netherlands-based forest carbon developer has been declared bankrupt, with options under review to restart operations or sell individual projects.

Solar score – The town of Fort Frances, Ontario will install a rooftop solar system at a municipal sports facility after securing nearly C$589,800 (roughly $431,500) in federal funding, aiming to cut emissions and lower power costs, it was announced this week. The system will generate on-site electricity, with savings expected to be reinvested into facility upgrades and community programming while reducing the site’s energy footprint. The project forms part of a broader local strategy to promote clean energy adoption in homes and businesses.

Power play – Questor Technology announced on Friday that it has secured C$1.9 mln from the National Research Council of Canada to complete development and commercialise a 1.5 MW waste heat-to-power system. The Calgary-based company said the funding, delivered through the NRC’s Industrial Research Assistance Program (IRAP), will support rollout of its organic Rankine cycle (ORC) technology to convert industrial waste heat into electricity. Questor added that the system is designed to pair with its thermal oxidisers to cut methane emissions while generating power. It expects to complete prototype testing in Q2 2026.

RGGI Allowance (RGA) futures continued to surge to new all-time highs on Friday, rising more than 12% on the day as prices crossed the $37 mark, with traders attributing the rise to a continuation of Thursday's rally amid tight market dynamics.

US lawmakers have urged the European Commission to resist pressure from Washington to dilute its landmark anti-deforestation law, warning that proposed concessions risk undermining both environmental integrity and businesses that have already invested in compliance.

Canada’s industrial carbon pricing system is failing to harness agriculture’s emissions-cutting potential, with fragmented markets and weak policy design limiting a sector that could abate more than 37 million tonnes (Mt) per year by 2030, according to a report published Thursday.

Diablo canyon backers - A coalition of organisations spanning clean energy, labour, business groups has formed to urge California lawmakers to keep the Diablo Canyon nuclear power plant open until 2045. The facility, California's only operating nuclear power plant, provides constant zero-emissions electricity to more than 4 mln Californians every day, avoiding 7 Mt of GHG emissions and saving consumers $1.3 bln annually, according to a press release from the Diablo Canyon 2045 Coalition. The facility received a licence extension from the federal Nuclear Regulatory Commission recently, but still requires legislative approval to operate beyond 2030.

Translation talks - The Brazilian state of Para held a workshop last weekend to engage Indigenous translators from the nine ethno-regions that will be consulted in the state's jurisdictional REDD+ (J-REDD+) programme. During the workshop, content for translation was presented and proposals for the most appropriate teaching resources for conducting consultations in the territories was requested by the state. The meeting marks the formal beginning of the implementation of the Indigenous consultation plan for J-REDD+ programme, recently approved by the Management Committee of the State System on Climate Change (COGES-Clima), the state said.

Durable carbon removal (CDR) methods have delivered unevenly over the past five years, with biomass-based approaches generally outperforming expectations, according to analysis published Friday.

The US and Israeli war against Iran has delayed a wave of fresh liquefied natural gas (LNG) production capacity by at least two years, according to the International Energy Agency (IEA).

South Korea and Bolivia on Friday signed a memorandum of understanding (MoU) for cooperation on GHG reduction initiatives under Article 6 of the Paris Agreement, with landfill projects in the pipeline.

Those countries working to progress a global climate framework for shipping have this week engaged specifically on how to collect and distribute the revenues generated by a carbon price, despite continued opposition from petrostates and the US.

The CLEAR methodology for cooking energy transitions remains under review by an expert methodological group working to advance the Paris Agreement Crediting Mechanism (PACM), while a framework covering N2O abatement has been put forward for adoption.

California Carbon Allowance (CCA) futures remained relatively flat below the $30 mark over the last week as the market continues to await further clarity in programme rulemaking.