Urban rewire – In Santa Marta, Colombia, city leaders said on Sunday that shifting away from fossil fuels is the most effective way to secure affordable, reliable energy and shield urban economies from global price shocks. The C40 Cities coalition highlighted that urban areas driving 75% of energy-related emissions can cut costs and improve resilience by scaling renewables, which are now at least 50% cheaper than new fossil fuel generation, it said. Examples from cities including London, Melbourne, and Bogota show local governments already delivering lower bills, cleaner air, and job creation through clean energy deployment and procurement schemes, press materials said.

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.

The EU has no shortage of financial instruments to cut livestock methane, but farmers are still struggling to access them, according to a new analysis of the European Investment Bank's agricultural finance strategy.

Dialogue - Australia's Foreign Minister Penny Wong plans to visit ​Japan, China, and South Korea this week ‌for talks on energy security, as the Middle East conflict and closure of the Strait of Hormuz continue to disrupt global energy markets. Meetings with her counterparts in the three ⁠countries would "help ensure we are coordinating ​effectively" amid upheaval on global energy markets, the minister said in a statement. The visit comes after Japan earlier this month pledged to provide $10 bln in support of the development of a regional, fossil fuel-centred "energy resilience" framework.

Tracking the backtracking - NatWest is facing investor and expert pressure ahead of its upcoming annual general meeting, with campaigners warning of a potential protest vote against the board over perceived weakening of its climate commitments. According to The Guardian, groups including ShareAction are urging shareholders to oppose the reappointment of chair Rick Haythornthwaite, arguing the bank has diluted restrictions on fossil fuel financing and dropped certain decarbonisation targets without sufficient justification. Institutional investors, notably the Church of England, have signalled support for the campaign. A coalition of investors managing $1.4 trillion in assets plans to push the bank to engage within three months on its climate strategy, while a separate letter signed by 70 climate scientists calls on NatWest to reverse what they describe as “backtracking”. Criticism centres on policy changes such as removing limits on lending to oil and gas firms without credible transition plans, easing restrictions on financing exploration and production companies, and scrapping sector-specific targets for industries including aluminium, cement, and steel. NatWest has defended the revisions, stating it retains interim goals to halve its climate impact from 2019 levels and remains committed to achieving net zero financed emissions by 2050, while adapting its approach to evolving policy and transition needs.

Low-carbon lithium - The Australian Renewable Energy Agency (ARENA) is providing up to A$38.1 mln ($27.2 mln) to support a low-emissions lithium processing demonstration plant at PLS Group’s Pilgangoora site in Western Australia, trialling electric-kiln technology to decarbonise a key step in refining, it announced. The technology could cut emissions from calcination by more than 80% when powered by renewable energy and produce around 3,000 tonnes of lithium phosphate annually for use in batteries, according to the agency. The project aims to build Australia’s domestic lithium refining capability - currently limited despite its large spodumene production - and capture more value from the global clean energy transition.

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.

Island leadership – The Republic of the Marshall Islands has become co-chair of the Coalition on Phasing Out Fossil Fuel Incentives Including Subsidies (COFFIS) alongside the Netherlands, it was announced on Saturday. The move came during the First International Conference on the Just Transition Away from Fossil Fuels in Santa Marta. Members acknowledged that governments have faced intense pressure to shield households from surging energy and living costs during the current crisis, but noted that some have avoided new fossil fuel subsidies by using alternative measures to respond. The COFFIS coalition has expanded to 17 countries since its COP28 launch.

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.

Ship shape – Osaka Gas and Kobe Steel said on Friday they had completed a pre-feasibility study for a large-scale carbon capture and storage (CCS) project targeting industrial and power sector emissions in Japan’s Kansai region. The companies, working with Shell, assessed a full CCS value chain centred on Kobe Steel’s Kakogawa plant, including CO2 capture, liquefaction, shipping, and storage in geological formations abroad. The study outlined a preliminary techno-economic assessment and identified key barriers such as cost competitiveness, policy support, regulatory frameworks, and stakeholder coordination that must be addressed in the next phase.

Watts next – INNIO Group and partners announced on Thursday they had completed a 3 MW-scale demonstration of hydrogen-fuelled backup power for data centres, marking what they said was an industry-first test at this scale. The company, working with the Net Zero Innovation Hub for Data Centers and with technical experts from Microsoft, Google, and Data4 witnessing the trial, said the hydrogen-powered Jenbacher engine met key performance requirements under simulated real-world conditions. The trial comes as data centre operators face rising AI-driven power demand and are increasingly seeking low-carbon, behind-the-meter solutions, with such systems forecast to account for 50-60% of new-build capacity by 2030.

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.

Into the blue - Indonesia’s Ministry of Marine Affairs and Fisheries (KKP) has set out a framework for blue carbon trading that centres on strict legal and monitoring requirements, including mandatory marine spatial permits (PKKPRL) and registration in the national carbon registry (SRUK) to ensure data integrity and avoid double counting. The government estimates its blue carbon ecosystems could absorb up to 10 Mt of CO₂e annually, with mangroves accounting for around 6.36 Mt and seagrass about 3.78 Mt. The initiative forms part of Indonesia’s Carbon Economic Value (NEK) policy and rests on three pillars: developing technical regulations, building a pipeline of projects, and strengthening data systems such as ecosystem mapping, baselines, and carbon accounting. Authorities are also advancing pilot restoration projects and emissions reduction programmes in fisheries, while drafting implementing rules under Presidential Regulation No. 110 of 2025 to ensure carbon trading delivers measurable benefits for both the state and coastal communities. (ecobiz.asia)

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.

European carbon allowances posted a 3.3% weekly drop despite ending Friday with a marginal gain, as EUAs gave up gains from a sharp burst of aggressive buying that took prices up by €1 in just 10 minutes, while traders reported a market that appeared largely content to trade around a technical level while waiting for more geopolitical and regulatory news inputs.

Lost and damaged - A UN-backed fund designed to help developing countries cope with climate-related loss and damage risks running out of money by the end of 2027, despite not yet disbursing any funds. The Fund for Responding to Loss and Damage has received project requests totalling $166 mln across 10 proposals and is expected to be oversubscribed, raising concerns about near-term cashflow constraints, Climate Home reports. Internal documents warn that, given current funding levels, the fund could exhaust its capital within two years, potentially undermining its operations and credibility. Although developed countries have pledged $822 mln since the fund was agreed in 2022, only $449 mln has been delivered so far. Initial projects under consideration include flood resilience efforts in Bangladesh and Lagos, and water infrastructure upgrades in Jamaica. Observers and campaigners say current funding falls far short of estimated needs, which could reach up to $400 bln annually for developing countries. Civil society groups are calling for developed nations to scale up contributions significantly, proposing targets of $50 bln per year from 2027, rising to $100 bln by 2031 and $400 bln by 2035, alongside new levies on fossil fuels, finance, aviation, and wealth. The fund is expected to approve its first projects in July and plans to hold replenishment rounds every four years, with the first scheduled for 2027. Concerns remain over limited donor commitments and the lack of binding obligations on contributors.

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.

The EU has set a first-quarter 2027 deadline to clinch a political deal on a major overhaul of its Emissions Trading System (ETS), anchoring carbon market reform in a newly adopted roadmap to deepen the bloc’s single market and boost competitiveness.

Trading volumes in China's emissions market more than doubled over the past week, yet prices retreated further below the RMB 80 ($11.72) resistance level as demand signals remained murky.

New direction - The UK's development finance institution, British International Investment (BII), has announced a new five-year strategy to shift its focus towards high-impact sectors including sustainable industries in low-income countries, against a backdrop of the UK Treasury cutting climate aid for developing countries by over 10%. BII's new strategy focusses on sectors linked to economic transformation, with plans to mobilise up to £7.5 bln of private capital over five years. As part of this, it is launching a £1.1 bln climate initiative called British Climate Partners to channel private investment into Asia’s energy transition. (edie.net)

Hotter and greener -  Carbon stored in India’s forests could rise sharply by 2100 as higher temperatures and rainfall boost vegetation growth, according to a study. The study projected forest carbon stocks to increase by 35-97% depending on emissions scenarios, with gains strongest in arid and semi-arid regions. Rainfall was identified as the dominant driver of carbon uptake nationally, outweighing temperature effects. However, scientists warned that warming also heightens threats from droughts, pests, and shifting vegetation patterns, undermining ecosystem stability.

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).

Cleaner = cheaper - The build-out of wind and solar power has driven wholesale electricity prices in  Europe down by an average of 24.2% fr0m 2023-25, with countries with the cleanest power mixes set to save billions more than those still reliant on gas, two separate analyses found this week. Many countries are starting to see a decoupling of wholesale electricity prices from gas prices during hours of of high renewables generation, exerting downward pressure on prices, explained the first study, by nonprofit Positive Money. That said, gas still remains the marginal price setter most of the time, it added. It called for policymakers to prioritise faster deployment of renewables, flexibility resources, and electrification. Separately, the Centre for Research on Energy and Clean Air (CREA) estimated that the five EU countries (Denmark, Finland, France, Sweden, and Slovakia) with the highest share of clean electricity will this year save €8.5 bln, or 58% more than the five dirtiest (Poland, Italy, Greece, Estonia, and the Netherlands). CREA also found that in 2025, electricity was 8% less sensitive to gas prices than in 2022, which it attributed to the EU's transition to renewables. Positive Money identified battery storage as the next step in decoupling Europe's power markets from gas. (Positive Money and CREA)

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.

A methane leakage reduction project in Uzbekistan has secured eligibility to supply carbon credits under the first phase of the UN’s CORSIA scheme, a project developer announced Friday.

Surging solar - Demand for rooftop solar across Europe has surged since the outbreak of the Iran war, as households rush to shield themselves from soaring power prices. Demand from homeowners has more than doubled for some industry players since late February, according to interviews by Reuters with over half a dozen energy equipment wholesalers and renewable utilities in Germany, the UK, and the Netherlands. Solarhanel24 said net sales more than tripled in March to nearly €70 mln from a year earlier, and are expected to triple again this month to some €60 mln, with plans to extend its workforce as a result. Meanwhile, German energy firms Enpal said orders rose 30% y-o-y in March to €130 mln, while April was on tracked for a 33% increase to about €120 mln, driven by rooftop solar installations. Industry bodies in Germany and the Netherlands also confirmed a similar demand pickup. The trend is also lifting demand for energy storage, as homeowners seek ways to improve resilience against geopolitical shocks.

An investor group plans to challenge the German chemical producer BASF on climate lobbying at its annual general meeting on Apr. 30, and will call on to align lobbying with its stated climate commitments.

The upcoming revision of best-in-class production benchmarks that determine the volume of free CO2 permits allocated under the EU Emissions Trading System (ETS) has caused anger in the aluminium sector, with one senior industry executive threatening to challenge the plan in court.

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.

Paris has outlined its initial stance on the upcoming revision of the EU Emissions Trading System (ETS), due in July, saying that the scheme’s overall level of ambition must be considered alongside efforts in non-ETS sectors such as transport, buildings, and forestry, while pushing for up to 300 million carbon permits to remain in circulation in 2040.

In a move to strengthen accountability, China has introduced a new performance evaluation framework to assess how effectively local governments are meeting their carbon peaking and neutrality targets.

Recieved - Japanese shipping major Mitsui O.S.K. Lines said on Friday it has received 2,500 tonnes of carbon dioxide removal (CDR) credits from an enhanced rock weathering project in India. The credits come from Alt Carbon, which spreads basalt on farmland in West Bengal to lock away CO2 as stable carbonates. MOL expects to receive 10,000 tonnes in total under a previously signed offtake agreement.

An Australian miner of iron-ore said on Friday it would invest $680 million to expand green energy infrastructure in the resource-rich Pilbara region, as it seeks to supply rising demand for renewable power from heavy industry and data centres.

New investment - The venture capital arm of Japan's Mitsubishi UFJ Financial Group has invested in ForestFolks, which specialises in forest asset management. ForestFolks' system enables for forest management and provides a wide range of solutions, from on-site data acquisition to timber sales and carbon credit creation. Mitsubishi UFJ Capital said it will leverage the network and expertise of its parent group to support the startup.

The second phase of a vegetation restoration project in South Africa has secured funding from a World Bank-issued bond linked to revenues from the partial sale of carbon credits to Amazon and over-the-top financing.

New Zealand’s independent Climate Change Commission (CCC) has recommended keeping current price controls and settings in its annual advice to government, but has warned unit shortfall could lie ahead in the near future.

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.