The EU ETS is delivering emissions cuts well beyond its borders without triggering widespread carbon leakage, according to new research that points to global policy and market spillovers from higher EU carbon prices.

The Intergovernmental Panel on Climate Change (IPCC) is refocusing its work on mid-range pathways that imply around 3-3.5C global warming by 2100, media outlets have reported.

CORSIA prices dropped last week amid the global jet fuel crisis, although the latest leaked memo from Brussels about tightening carbon credit restrictions for the international aviation offsetting scheme has also played a role, analysts said.

A New York-headquartered market infrastructure provider and a Texas-based energy data platform have expanded their partnership to deliver consolidated exchange and over the counter (OTC) price and transaction information for environmental commodities, they announced on Tuesday.

The UN Environment Programme has expanded its global methane detection system to cover coal mines and waste facilities for the first time, in a move aimed at turning satellite data into faster emissions cuts.

Hurry up - Vietnam’s Deputy Prime Minister Ho Quoc Dung called for fast issuance of a decree on forest carbon services to remove legal bottlenecks and unlock the country’s carbon market, state media reported this week. The regulation would establish a framework for carbon absorption and storage services, decentralise credit issuance to local authorities, and enable trading of emission reductions. Authorities aim to begin issuing credits for 2021-22 by second quarter of this year, with more volumes to follow, alongside negotiations for an emissions reduction deal under the LEAF Coalition. A draft of the decree was published last year.

EU-China - The European Commission intends to halt subsidies for energy projects using Chinese inverters, multiple media outlets have reported. Inverters are key to renewables, since they convert the direct current (DC) of solar panels, wind turbines, or batteries into the alternating current (AC) typically used on the grid, and in households and industry. But inverters represent one of "the most pressing threats" to EU critical infrastructure, the Financial Times reported the Commission as saying. In future, they should come from countries like South Korea or Japan, or Europe itself (Russia, Iran, and North Korea are also on the blacklist, Le Monde reported), though the Commission will not require companies to replace existing inverters, Tagesspiegel Background Energie & Klima clarified. Brussels has told European partner banks to stop financing renewable projects using Chinese, Iranian or Russian grid equipment from Nov. 1, said Euractiv. The decision, which dates back to April, was first reported by South China Morning Post, the outlet noted, and concerns primarily the European Investment Bank and the European Bank for Reconstruction and Development, but also national banks like Germany’s state-lender KfW.

Australia’s Safeguard Mechanism is failing to limit diesel use in coal mining, with carbon costs being undercut by fuel subsidies, according to an analysis.

UN officials are considering whether to repurpose an existing voluntary carbon credit cancellation platform to support the Paris Agreement’s Article 6.4 mechanism, as the current system under the Kyoto Protocol approaches closure at the end of 2026.

The government of an Australian state is preparing to drop formal emissions reduction targets, replacing them with alternative measures like green exports, carbon capture, and renewable energy.

CBAM service - Organic Recycling Systems (ORSL), an India‑based waste management and sustainability solutions firm, has entered a business development and service collaboration with General Carbon Advisory Services to strengthen its carbon management offerings, the companies said in a joint statement reported by Energetica India. The partnership will focus on Carbon Border Adjustment Mechanism (CBAM) advisory and compliance support. ORSL will utilise its industrial relationships and market presence to help organisations with carbon reporting, emissions data management, and related compliance. General Carbon Advisory Services will provide specialised technical advisory, assessments, reporting frameworks, and verification support as part of the service offering.

Market volatility, changing regulation, and lack of harmonised standards are dulling investor and developer interest in carbon markets, according to legal firm polling.

Shortlisted - An industry consortium led by mining giant BHP said it has identified five potential CCUS hubs across Asia-Pacific after screening more than 3,000 sites, with locations spanning India, Indonesia, Malaysia, and Australia, after a feasibility study. The group, which includes major steelmakers and energy firms, will now move into a second phase focused on detailed engineering, commercial models, and regulatory assessments. The study also added new partners to deepen expertise across shipping, steelmaking, and low-emissions technologies.

Kiwa rollout - Forty five climate resilience projects rolled out across 17 countries and territories under the Kiwa Initiative are set to benefit more than 127,000 Pacific islanders, The Fiji Times reported. The Kiwa Initiative is a donor‑funded programme managed by Agence Francaise de Developpement that supports Pacific climate resilience through nature‑based solutions. The programme was announced in Suva, Fiji on Apr. 27. The regional scheme, funded by France, the EU, Canada, New Zealand, and Australia, has mobilised €79.5 mln ($92.9 mln) since 2020.  

Little steps - Singapore will launch the fourth edition of its Go Green SG campaign from May 11 to June 28, with around 500 partners delivering over 1,000 sustainability initiatives, the Ministry of Sustainability and the Environment said in a press release. The campaign aims to strengthen adaptation against rising temperatures and extreme weather. Activities span public education, biodiversity tours, recycling workshops, and youth engagement programmes designed to encourage climate-conscious behaviour.

COP31 appointment- Turkiye has appointed Australia’s nominee Sally Higgins as COP31 Presidency Youth Climate Champion, the Department of Climate Change, Energy, the Environment and Water (DCCEEW) said on Tuesday. COP31 will be held in Antalya in Nov. 2026. This comes after Turkiye won the race to host the summit in the resort city, beating Australia, and after both agreed to share the presidency in November last year. Turkiye will host the Leader’s Summit and lead the Action Agenda, while Australia will lead negotiations and partner with Pacific nations on pre‑COP meetings in Fiji and Tuvalu. Higgins, a Queensland farmer and Nuffield scholar, will ensure youth perspectives are represented in decision‑making and elevate youth‑led climate solutions at COP31.

Charging down - The Australian government has announced plans to wind back elements of its tax exemptions for EVs, the ABC reported. The tax discount exempting electric vehicles from Fringe Benefits Tax (FBT) will be wound back next year, saving the government A$1.7 bln ($1.2 bln) over four years. From Apr. 2027, the exemption will still apply to EVs costing less than A$75,000, but those above that threshold will be taxed at 75% of the usual rate of FBT. From Apr. 2029, all EVs will be taxed at the 75% payable FBT rate. Climate minister Chris Bowen said they staggered the wound back given they did not want to disincentivise EV uptake, which has been rising substantially in Australia in response to high fuel prices. The savings measure will be included in the upcoming federal budget on May 12.

Status symbol - ASX-listed NH3 Clean Energy has been granted Federal Major Project Status for its WAH2 Clean Ammonia Project, recognising its national significance in supporting economic growth, regional development, and Australia’s decarbonisation goals, the company announced. The status provides coordinated government support to streamline approvals and builds on recent findings that the project will deliver substantial public and economic benefits, while targeting a final investment decision by the end of 2026 and first production by 2029. The WAH2 Project aims to produce low-emissions ammonia for export to Asia-Pacific markets such as Japan and South Korea, as well as for use as a cleaner shipping fuel, positioning it to meet growing demand from the region’s energy transition.