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TOP STORIES
ANALYSIS: Brazil faces a ‘missing middle’ for nature finance
International appetite for Brazil’s nature economy is growing, but much of the capital still struggles to reach projects on the ground.
BRIEFING: Wave of national nature credit plans opens dilemma over need for global market
Governments worldwide are joining the race to set up national or regional nature markets, though observers are divided over whether these efforts should remain local or evolve into a global trading system.
NATURE-BASED CARBON
FEATURE: Uganda’s late-stage Sovereignty Bill could clamp down on carbon markets
A new Ugandan bill to crack down on foreign vested interests in the country, broadly defined, poses grave implications for carbon project development in the emerging hub, local and international experts have told Carbon Pulse.
INTERVIEW: African forest nations need viable carbon market route
African countries with major forest resources should be able to use international carbon markets to finance nature protection, the head of a Tanzania-based forestry project developer told Carbon Pulse.
INTERVIEW: UNEP sees Article 6 supply wave building towards 2030
The first meaningful supply of carbon credits traded under the Paris Agreement’s Article 6 mechanism will only emerge closer to 2030, as countries build the accounting and regulatory infrastructure needed to authorise trades, according to two UNEP officials.
Investment in carbon credits hits record high as buyers shift focus -analysts
Early-stage capital invested in the carbon credit market reached a record $22 billion last year as more buyers sought to lock in price and quality, according to an analyst group.
INTERVIEW: Delivery certainty, long-term deals key to biochar CDR growth
Long-term procurement, delivery certainty, and measurable co-benefits are becoming increasingly important to scaling biochar carbon removals, a senior executive at the world’s largest biochar carbon removal producer by delivered volume told Carbon Pulse.
Gold Standard clamps down on double counting of co-benefits, certified SDG contributions
Gold Standard launched a consultation on Tuesday, introducing a new voluntary reporting pathway for project developers which it said could reduce the risk of double counting co-benefit and certified contributions to the UN’s Sustainable Development Goals (SDGs).
Carbon removal marketplace to exclusively distribute biochar from India-based developer
A carbon removal marketplace has announced an exclusive deal to distribute biochar produced by an India-based developer, with 10,000 credits available this year.
Weak national enforcement threatens projected CORSIA carbon credit demand wave -report
As the aviation industry prepares for the next phase of the UN’s Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) in 2027, a new legal analysis has warned that the long-anticipated surge in global demand for carbon credits may fall far short of expectations due to weak national implementation and inconsistent enforcement.
Brazil’s Petrobras acquired 1.2 mln Amazon carbon credits in 2025 -report
Brazil’s Petrobras acquired 1.2 million carbon credits from an Amazon forest conservation project in 2025, retiring some of the units to offset emissions from a carbon neutral gasoline product, according to its latest climate and energy transition report.
Oregon reforestation project issues over half a million credits after verification
Project proponents announced the successful verification and issuance of more than 500,000 credits for Oregon-based reforestation on Tuesday.
Plan Vivo opens public consultation on grassland carbon methodology
Scotland-based Plan Vivo launched on Monday a public consultation on a new grassland management tool suite under its climate standard, marking the certifier’s latest push to expand carbon accounting methodologies for complex land-based ecosystems.
Verra launches label for carbon credits tied to forest management certification
Verra has launched a new label for forest carbon credits generated by projects located on lands with a forest management certification.
Carbon standard launches new soil management protocol
A carbon standard has unveiled a new protocol designed to improve how soil-based removal projects are measured and verified.
Verra announces vetted trio of data providers for ARR methodology benchmarks
Verra now has three new vetted third-party data providers to supply benchmark data for projects using its afforestation, reforestation, and revegetation (ARR) methodology, it announced Thursday.
First real-world olivine marine CDR trial reports no adverse ecological impacts
Researchers have published what they describe as the first field-based evidence that deploying olivine sand for marine CO2 removal caused no detectable adverse effects on ocean ecosystems, potentially bolstering confidence in alkalinity enhancement pathways that have faced persistent environmental scrutiny.
Canadian carbon developer narrows net loss in Q1 as CORSIA sales begin
A Canada-based carbon project financier reported a Q1 net loss on Friday that was lower from the previous three-month period while also disclosing first-quarter sales of CORSIA-eligible cookstove credits.
Brazilian developer certifies first Atlantic Forest ARR credits, destined for Microsoft
A Brazilian project developer has generated its first tranche of afforestation, reforestation, and revegetation (ARR) carbon credits in the Atlantic Forest to be delivered to Microsoft, the company announced on Thursday.
NATURE & BIODIVERSITY MARKET
EU eyes platform to test tradability of nature credits
The EU is considering a platform for testing whether nature credits generated from different ecosystems can be traded, a European Commission official said on Tuesday.
No neutral unit for biodiversity credits, only competing choices about what to count and ignore –think tank
Picking a unit for biodiversity credits is a contentious business, presenting risks that indicator choices will mask declines in other species or habitats, a think tank wrote this week.
CORPORATE
INTERVIEW: Nature investment platform for Southeast Asia soft launches
The Nature Catalyst investment platform for Southeast Asia soft launched on Monday while revealing agreements to scale nature-based solutions (NbS) with four companies.
Togolese bank issues $450 mln nature bond with agriculture, water focus
A bank based in Togo has issued a nature bond for $450 million focused on sustainable agriculture and water, a sum $100 mln more than the original target.
Real estate company nets $235 mln sustainability loan from Singaporean bank
Southeast Asia’s largest bank has provided a S$300 million ($234.5 mln) sustainability-linked, multi-currency loan to an international real estate firm to increase nature efforts, it announced on Friday.
Amazon pushes against carbon removals ‘groupthink’, says markets need reduction credits too
Amazon has pushed back against relying solely on carbon removals, a trend common among major corporate buyers, to instead focus on high-quality emissions reduction credits that it said were essential to scale voluntary markets.
Nature insight company integrates business risk data into platform
A London-based nature intelligence firm has partnered with a risk data provider, aiming to allow companies to distinguish operational and indirect supplier risks and meet disclosure requirements.
US forestland manager expands natural capital reporting in operational restructuring
A US forestland manager on Monday announced a management restructuring aimed at expanding its ability to quantify and report environmental benefits beyond carbon, as it said investors are placing greater emphasis on nature-related risks and environmental disclosures.
First bank-backed regenerative agriculture programme launched for South African farmers
South African commercial farmers could earn supplementary income from regenerative agriculture practices under a new bank-backed carbon credit programme.
Biodiversity financing mechanisms need to deliver more certain investor returns, says paper
Scaling effective biodiversity financing mechanisms, including nature credits, hinges on improving ecological and social oversight to boost investor confidence and return certainty, a review paper argued on Monday.
POLICY
BRIEFING: Circular economy emerges as a missing link in GBF delivery, specialists say
Speakers from science, civil society, and government argued that circular economy approaches must become central to the implementation of the Kunming-Montreal Global Biodiversity Framework (GBF), warning that biodiversity goals will remain out of reach unless countries address the economic systems driving ecosystem degradation.
Minnesota House passes $190 mln funding for state nature projects
The Minnesota House of Representatives has voted in favour of a bill containing $191 million of finance for projects working to conserve and restore the state’s fish, wildlife, and game.
EU policy advisors chart options for carbon removal buyers’ club
An EU-backed buyers’ club for carbon removal (CDR) credits has emerged as the leading option to unlock private finance for the sector, with experts converging around a corporate‑led platform focused on near‑commercial projects in Europe.
New Zealand govt refreshes VCM guidance
The New Zealand government has updated its guidance for voluntary climate change mitigation efforts, just days after it unveiled its strategy to grow the voluntary carbon and nature markets.
War-driven fertiliser price spike puts spotlight on agribusiness profits ahead of EU action plan
The European Commission’s action plan for fertilisers due on Tuesday will land amid renewed scrutiny of the sector after an investigation found executives and investors at major agribusiness firms sold more than $66 million in shares during war-driven price spikes.
SCIENCE & TECH
Fragmented forests sequester less carbon, challenging forest pledges -study
Forest protection targets focused primarily on total forest area may overlook substantial carbon losses linked to fragmentation, according to new research analysing 17 million forest patches across the conterminous US.
Canadian investors continue to demand nature investment opportunities -survey
Nature-related investments remain a small portion of assets-under-management (AUM) for Canadian investors, but they’re making progress, according to a recent survey.
Twelve principles could strengthen community-based marine restoration, study finds
A new systematic review of governance practices has identified 12 key principles that could improve the sustainability, equity, and long-term success of community-based marine restoration projects.
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FREE WEBINAR
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EVENTS
Ecology Calling returns on May 20 with a 1-day event titled ‘Investing in Nature’ at venue Firesyde, near the border of Surrey and Sussex, about an hour’s transport from London Waterloo. Speakers include representatives from HSBC, Rebalance Earth, RePlanet, Environment Bank, Pensions for Purpose, Crowther Lab, Gresham House, and the University of Oxford. Use the code ‘Pulse15’ to get 15% off tickets.
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BITE-SIZED UPDATES FROM AROUND THE WORLD
MARKETS
Seagrass credits – Standard setter Plan Vivo announced on Tuesday it has formally integrated seagrasses into its biodiversity standard. Under ‘Approved Approach for Seagrass Habitats’, Plan Vivo and its partners have set out monitoring methods that could allow seagrass credits to hit biodiversity markets under the PV Nature standard. Plan Vivo, which already has two seagrass projects in its pipeline, would welcome enquiries from project developers and investors, it said on LinkedIn. The Edinburgh-based standard shared plans to embed seagrass within PV Nature earlier this year, Carbon Pulse reported.
African NbS – Verdara, a new Saudi-based forestry and climate platform, has launched to develop nature-based carbon removal projects across Africa, its founder and CEO Habib Bukhamseen said last week on social media. The company is starting with an initial afforestation, reforestation, and revegetation (ARR) programme covering more than 50,000 ha and an ambition to reach 1 mln ha in 15 years. Its first project announcement is expected soon, Bukhamseen said on LinkedIn.
Logging less – Cheakamus Community Forest said revenue from carbon credit sales rose six-fold in 2025 as new industrial carbon pricing rules in British Columbia boosted demand for offsets, Business In Vancouver reported this week. The 33,000-ha project, co-managed by the Lil’wat Nation, Squamish Nation, and the Resort Municipality of Whistler, now earns more from carbon credits than timber harvesting. The project joined British Columbia’s carbon market in 2009 as the first initiative of its kind, and has typically generated around $100,000 annually from carbon credit sales. Proponents said prices for the project’s carbon credits more than doubled under OBPS, rising from around $30/t in the voluntary market.
Taking root – Ludhiana-based Punjab Agricultural University has formed a working group on carbon credits to help farmers in the Indian state tap carbon market opportunities through sustainable farming practices, local media reported. The group will focus on teaching, research, and outreach linked to carbon farming and carbon-smart agriculture. The university hopes that practices such as residue management, biochar, agroforestry, and soil carbon enhancement could help cut emissions while generating additional farmer income through carbon credits. The initiative also included a training session on carbon farming and carbon measurement, with scientists and extension officers discussing challenges and opportunities for implementing such practices across Punjab.
CORPORATE
School solutions – Slow Food, a non-profit, has called for more community‑led agroecological food systems as a local solution to biodiversity loss. The Italy-headquartered group highlighted its Slow Gardens in Africa program, which has supported nearly 3,500 school and community gardens across 38 countries. The program places value on local crop diversity and traditional knowledge, emphasising the importance of dignity, learning, and community impact. A total 77% of families participating in school or community gardening in 2024 went on to establish gardens at home, Slow Food said.
Highway to hedgehogs – The UK government’s housing agency, Homes England, has signed up to a commitment to support wildlife while tackling environmental challenges. The Homes for Nature pledge involves installing a bird-nesting brick or box for every home built, and a ‘hedgehog highway’ in every development. Developers building on Homes England sites will be required to deliver the features, while being also encouraged to incorporate additional features such as bat roosts and insect bricks.
Peatland progress – Scottish Water has completed the second phase of a peatland project surrounding Loch Katrine, north of Glasgow. The latest work has seen a further 94 ha of degraded areas restored, and forms part of a wider environmental strategy aiming to restore up to 400 ha of peatland across the catchment over the next decade. The aim is to restore the land’s natural water retention capacity to improve water quality, while also boosting carbon storage levels. It is supported by Scotland’s national programme, Peatland Action, which aims to restore these wetland areas as part of the country’s climate commitments. (The Scotsman)
POLICY
Nature lobby – The European Commission registered two citizen campaigns on biodiversity on Tuesday. The first one invited the recognition of the rights of nature in law, while the second proposed creating biodiversity corridors in a bid to overcome ecosystem fragmentation. If either of the campaigns receives 1 mln signatures during the next 18 months across seven member states, the Commission is required to react.
Join the club – The UN office in Guyana has joined the Global Biodiversity Alliance, which is led by the South American country. Guyana’s government signed a Declaration of Intent with the UN on Monday, formalising the intergovernmental body’s participation in the alliance, local media reported. Under the declaration, the two entities said they intended to include biodiversity considerations in national-level development plans.
Projects, please – Luxembourg’s environment ministry would like biodiversity projects to step up to help the country meet its obligations under the EU’s Nature Restoration Law. The ministry opened two calls on Monday, requesting projects focused on wetlands, grasslands, and threatened species apply by Aug. 15. It is also interested in projects creating ecological corridors between habitats. Applicants will need to show how their work aligns with the objectives of the Natura 2000 network, the ministry said.
International recognition – People from Indigenous Amazonian territories have pushed forward their work to build a criteria for counting their conserved lands towards international targets, according to the WWF. The groups, which recently gathered in Peru’s Madre de Dios region, would like to see their lands officially recognised under the global goal to conserve 30% of the earth’s land by 2030 (30×30). Participants progressed work on an inclusion criteria and discussed the 30×30 target in the Peruvian context, the statement said. Over 90% of lands managed by indigenous peoples and local communities are classed as meeting good or moderate ecological conditions, a WWF study has found.
Invasive species – Ireland has a new strategy for tackling invasive species, Minister of State for Nature, Heritage and Biodiversity, Christopher O’Sullivan announced on Tuesday. The plan will cover harmful species including rhododendrons, North American mink and Japanese knotweed which can take over the niches of local flora and fauna. Work will be completed under a new partnership between Ireland’s National Parks and Wildlife Service and the National Biodiversity Data Centre, which will together establish an Invasive Species Bureau.
Hand over – Kenya has completed work on three policy briefs, offering recommendations to some of the country’s key sectors – agriculture, livestock, and forestry. IUCN Kenya handed over the briefs to the relevant government departments late last week, suggesting they could be used to support the implementation of the east African country’s National Biodiversity Strategy and Action Plan (NBSAP). The three briefs were completed under the BIODEV2030 project, run by IUCN and WWF-France and funded by the Agence Francaise de Developpement.
Boardwalk boost – New funding will support wetland restoration and other improvements in Newfoundland and Labrador after the Canadian federal government committed C$200,000 ($145,300) to a conservation project last week. Ottawa said the investment in Bonavista’s Old Days Pond area will fund native wetland revegetation, repairs to around 350 metres of public boardwalk, and the installation of bird boxes. The Town of Bonavista is contributing a further C$50,000 to the initiative, which on the federal side is being financed through Canada’s Natural Infrastructure Fund (NIF). Ottawa said it has so far announced more than C$87 mln for 47 projects under the NIF programme across the country.
Forest legacy – The US Forest Service is investing more than $80 mln to permanently conserve over 13,700 ha of private forests in 15 projects across the country. The Forest Legacy initiatives mean that landowners keep producing timber from parts of the area, while supporting long-term stewardship, wildlife habitats, and public access. They also help to maintain forests that are more resilient to wildfire, reducing long-term risks to communities.
London roots – The Mayor of London, Sadiq Khan, has invested £4.6 mln in London’s local green spaces to build a more climate resilient city, in the second round of funding from the Green Roots Fund. This includes £1.1 mln for a project to deliver up to 5,000 trees in neighbourhoods affected by climate change, £358,600 for tree-planting training in schools, £80,500 for wildlife gardens in Hackney borough, and £30,000 for teaching gardening skills to vulnerable people.
Forest finance – The World Institute for Conservation and Environment (WICE), a sustainable development organisation, has committed to create a funding facility for forests in the Congo Basin, it announced on Friday. WICE has signed an MoU with the Central African Forests Commission (COMIFAC), an intergovernmental body coordinating forest policy across Central Africa, agreeing to work together on Congo Basin Forest Finance Facility. It aims to create a pipeline of nature-based forest investment opportunities through a blended finance approach, according to a statement from WICE. The two signatories plan to take a phased approach to developing the facility, kicking off with a $2 mln structuring round.
SCIENCE & TECH
Root cause – Yale University has selected a 10,000-ha restoration project in Panama developed by Ponterra, a tropical forest restoration project developer, as the site of a study on tropical forest regeneration, supported by a 2026 Yale Planetary Solutions Constellation Grant. The study, led by researchers from the Yale School of the Environment and the Centro del Agua del Tropico Humedo para America Latina y el Caribe (CATHALAC) – a Panama-based water centre for the humid tropics of Latin America and the Caribbean – will examine how naturally regenerating seedlings can support large-scale forest restoration and help deliver carbon and biodiversity outcomes. The project is on Panama’s Azuero Peninsula, backed by Microsoft and Rubicon Carbon.
Alpine uptake – A study published in the Journal of Environmental Management found that afforestation on subalpine pastures in the Austrian Alps created local carbon sinks, storing more carbon per ha versus adjacent pastures. Researchers said most of the sequestration came from tree biomass rather than soil carbon gains, equivalent to around 441 tCO2/ha over 42-65 years after planting. However, the study also found mixed biodiversity impacts.
Wildfire watch – London-based carbon insurance and climate risk modelling firm Artio projected more than 130 square km of wildfire exposure across Yosemite, Sequoia, Kings Canyon, and the Great Smoky Mountains through the end of Aug. 2026, with Sequoia facing the highest proportional risk among the parks assessed. The analysis, based on satellite fire data, climate variables, and a fire-spread model, found projected exposure above five-year historical averages at Sequoia, Kings Canyon, and the Great Smoky Mountains, while Yosemite was forecast below its recent baseline.
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