The non-profit in charge of Peru’s 25-year-old Cordillera Azul National Park (PNCAZ) turned to carbon finance over a decade ago to sustain its operations, creating a REDD+ mega-project – but following a turbulent few years beset with baseline challenges, methodology questions, and litigation surrounding free, prior, and informed consent (FPIC) from Indigenous communities, it is mulling its next steps.

Server safeguards - New Jersey Governor Sherrill (D) announced a statewide plan Wednesday to regulate data centres, aiming to manage their impact on energy demand, resource use, and local communities while positioning the state for AI investment. The plan would require data centres to help bring new clean energy online and pay for related grid infrastructure, report energy and water use, meet statewide standards for community benefits agreements, and use local trades while paying prevailing wages. The administration said the measures build on broader efforts to lower energy costs, including executive orders to freeze rate hikes and expand power generation, approval of six large-scale solar and battery storage projects, a planned 3,000-MW community solar expansion, and legislation to accelerate battery storage deployment and end New Jersey’s 50-year moratorium on new nuclear energy.

California Carbon Allowance (CCA) futures remained elevated at four-month highs as state regulator ARB's Thursday hearing adjourned until the following day without a vote on proposed Cap-and-Invest Program updates.

Pondering power plant pollution - The US EPA will revisit a late Biden-era decision rejecting Texas’s plan for regulating power plant pollution, according to a Tuesday court filing. The agency asked the Fifth Circuit to keep litigation over the rule on hold for another 90 days while it reconsiders its disapproval of Texas’ revised state implementation plan for emissions during planned startup, shutdown, and maintenance activities at certain electric generating units. The EPA said it granted Texas’ petition for reconsideration on May 11 and plans to use notice-and-comment rulemaking to assess whether to repeal or amend the challenged action, while Texas and industry petitioners opposed the 90-day delay and said they would only accept a 30-day extension unless the EPA commits to finalising a new rule approving the state submission within one year.

OAE effectiveness - A new modelling study published in Biogeosciences found that ocean alkalinity enhancement (OAE) could reduce atmospheric CO2 by 73-130 ppm by 2500 across 1.5C, 2C, and 3C warming stabilisation scenarios, while lowering global surface air temperature by about 0.14-0.17C per century, but said its effectiveness depends heavily on how removal efficiency is measured. The study, which used a fully coupled Earth system model from 1861-2500, found gross ocean carbon capture efficiency remained close to the theoretical maximum, while net ocean capture and atmospheric CO2-reduction efficiencies declined over time because of carbon cycle feedbacks from the ocean and land biosphere. The authors said OAE could mitigate ocean acidification at the surface and in the interior ocean, but most long-term pH benefits came from atmospheric CO2 drawdown rather than direct chemical effects from added alkalinity, concluding that rapid emissions reductions remain the most effective way to meet Paris Agreement goals and limit ocean acidification.

Canada must tread lightly when updating its industrial carbon pricing act as Alberta’s new framework opens the programme to potential legal challenges, said experts.

Bolivia’s executive branch aims to present an overarching climate finance bill to the country’s national assembly by July – establishing the basis for both voluntary and compliance markets, among other instruments, a top official told Carbon Pulse at the Peru Carbon Forum this week.

The European Commission plans to recommend that member states suspend some of the penalties for fossil fuel importers that breach the EU Methane Regulation for up to three years, according to a leaked draft – in a move that is drawing sharp criticism from climate advocates. 

Marine carbon removal (mCDR) credits are entering the voluntary carbon market (VCM) before key questions on monitoring, ecological risk, and governance have been resolved, according to a new preprint study.

The EU’s Carbon Border Adjustment Mechanism (CBAM) is changing how EU importers select which products to buy, with emissions data transparency becoming as core of an issue as price, the CEO of a major European distributor of stainless steel products told a conference on Thursday.

A new guide released on Thursday by a New York-based advisory firm set out criteria for buyers sourcing agricultural residues for biomass-based carbon removals (CDR), citing the need for safeguards around soil health, livelihoods, and credit integrity.

A Canada-headquartered carbon project financier expects its Vietnam household devices programme to secure an governmental Article 6 Letter of Authorisation (LOA) before year-end, potentially positioning the initiative among the first projects approved under the Southeast Asian country’s new international carbon trading framework.

The EU is falling behind its 2030 target of reaching 50 million tonnes per year of CO2 injection capacity, with the European Commission warning oil and gas firms to accelerate their plans as 19 of them have launched legal challenges against their storage obligation.

Over 25% of carbon credits retired so far this year in the voluntary market (VCM) have come from Latin America and the Caribbean (LAC), where REDD+ units still dominate supply.

A UK-based data centre developer has launched what it described as the world’s first integrated carbon removal platform tailored to the data centre sector, seeking to bundle biochar production, credit generation, certification, monitoring, and financing into a single infrastructure-grade offering aimed at hyperscalers and institutional buyers.

CBAM blame - An official from the UN Economic Commission for Africa (UNECA) has criticised the EU’s CBAM, arguing that African countries were largely excluded from the policy’s design and implementation discussions. Speaking at the annual meeting of the African Development Bank, UNECA Deputy Executive Secretary Hanan Morsi said African governments were neither adequately consulted nor engaged during the development of the EU measure. She warned that climate-related trade measures risk undermining Africa’s industrialisation ambitions and reflect a broader shift towards using climate policy as a tool for trade, industrial competitiveness, and protectionism. Morsi stressed that Africa contributes only a small share of GHG gas emissions, yet could still face adverse impacts from the CBAM, particularly in export-oriented sectors. While the overall macroeconomic effect is expected to be limited - with CBAM-covered products accounting for around 6% of Africa’s exports, and only 2% going to the EU - certain countries and industries are considered vulnerable. The African Development Bank highlighted risks for aluminium and steel producers, especially in North Africa, due to higher compliance costs tied to exports to Europe. Mozambique was identified as particularly exposed because most of its aluminium production is exported to the EU. The bank also warned that the mechanism could eventually affect downstream manufacturing sectors. Morsi suggested African governments may eventually consider introducing their own carbon-related taxes on domestic producers. The comments also echoed earlier criticism from South Africa, which previously argued that proposed UK CBAM-style measures could breach WTO rules. (African Business)

Carbon buyers should assess projects based on quality, local fit, and delivery timelines rather than defaulting to dominant registries, a senior representative at a Colombian nature-based project developer told Carbon Pulse.

The world is on course for record-breaking average temperatures in excess of the Paris Agreement's goals over the next five years, and 2027 could be the hottest, a UN agency has warned.

California regulator ARB asked a federal judge on Tuesday to toss a Trump administration-led lawsuit challenging the state’s vehicle emissions standards, arguing the contested rules no longer support the federal government’s claims of harm.

Quality control - Ratings agency Calyx Global announced the companies which are retiring the highest quality credits on average in research published on Thursday. The top three large buyers (>100,000 credits retired) by average rating of credits retired, all with a BBB or higher average in 2025, were Salesforce, Autodesk, and Ernst & Young. The top overall retirees (>500 credits) retired in 2025 by average rating of credits, all with a AA or higher average rating per Calyx Global data were Williams College, Gatwick Airport, Vetter Pharma, and StepStone Group. The retirement data is based on four registries: ACR, CAR, Gold, VCS.

Burn-ing desire - The Kenyan government is working closely with cookstove developer Burn Manufacturing to advance its projects and bridge a gap between "manufacturing excellence" and climate action, the Office of Kenya's Special Envoy for Climate Change posted on LinkedIn on Thursday, following a meeting between the special envoy, Ali Mohammed, and Burn CEO Peter Scott. Burn has six projects at varying stages of design and implementation, of which four have received Letters of No Objection, and one a Letter of Authorisation. The other two are still under Kenya' review. Kenya is also preparing to host an IEA Summit on Clean Cooking in Africa, on July 9-10 in Nairobi.

Save our dishwashers – Italian enterprise minister Adolfo Urso met this morning with his French, German, and Polish counterparts to promote a paper urging the European Commission to recognise the household appliance sector as strategic, on par with automotive. The proposal includes a European plan to support investment, innovation, competitiveness, and reciprocity with non-EU firms, alongside action on CBAM, ETS, and demand measures. Urso said Italy is working on “constructive proposals” together with other producing countries to defend what he described as “a strategic supply chain” and create better conditions for investing and producing in Europe.

Slovakia and Estonia have joined a group of four EU member states calling for freezing the benchmarks that determine the number of free allowances under the EU Emissions Trading System (ETS), while France and Spain voiced disappointment with the European Commission’s draft during an EU ministerial meeting on Thursday.

A clean cooking project developer operating in multiple Latin American countries has already obtained one Article 6 Letter of Authorisation (LoA) and is hoping to gain more, while keeping up with market trends toward high integrity, representatives told Carbon Pulse in Peru.

A major airline wants more Asian countries to authorise carbon credits for use under the aviation sector’s CORSIA scheme, saying the region risks losing out on billions of dollars in climate finance to other markets.

Runaway solar - The UK added a record number of solar panels in 2025, and the boom looks set to continue this year, according to the Department for Energy Security and Net Zero.  Data published today shows that 269,000 installations were completed across the country. Around 255,000 of these were rooftop solar - meaning at least 95% of all new solar was installed on homes, businesses and other buildings. Demand has continued amid the recent spike in oil prices, with April this year seeing 23,000 new solar installations added. In March, the UK passed the 2 million total solar installations milestone.

The rise in the number of cases brought by fossil fuel companies against governments, using Investor-State Dispute Settlement (ISDS), is stalling the energy transition and causing governments to hold back on more effective climate policy, despite growing awareness of the topic, say experts.

The Italian energy regulator appears to be limiting the extent to which gas-fired power operators will be able to recoup compliance costs from the EU's Emissions Trading System (ETS), likely in an effort to quell concerns from Brussels, according to new analysis.

Aid for French farmers – The European Commission greenlighted a €15 mln State aid scheme to support agricultural and aquaculture companies in France facing the energy crisis. The scheme was approved under the Middle East Crisis Temporary State Aid Framework (METSAF). It will run until the end of the year and take the form of direct grants based on the volume of fuel purchased. Companies can receive €0.0386 per litre of GNR purchased from 1 to 30 Apr. 2026. The aid will cover up to 70% of the additional costs resulting from fuel prizes' surge.

EU funds – The EU Commission has called the bloc's 27 member states and regions to do more for spending the €19.7 bln Just Transition Fund (JTF), scheduled for 2021-27 which focuses on reskilling workers and shielding local economies from deindustrialisation. After a mid-term review of regional policy led to the reallocation of funds towards the EU’s strategic priorities, Cohesion Commissioner Raffaele Fitto sent a letter on Thursday to the EU ministers urging them to undertake a reprogramming effort with a focus on energy. Moreover, up to €160bln could be redeployed to ease Europe's energy crisis, Fitto wrote. Local authorities, however, have been complaining that bureaucratic bottlenecks make access to the money still too complex.

European carbon prices surpassed €80 for the first time since February while oil and gas futures seesawed as markets continued to wait for an expected agreement between Tehran and Washington to reopen the Straight of Hormuz. 

Kick polluters out - People are rallying in a global 'kick polluters out' week of action across Africa, Europe, and Latin America, with nearly 70 actions in 20 countries to demand that TotalEnergies and other polluting companies cease operations and fix past damage. This coincides with TotalEnergies AGM on Friday, during which it's expected to highlight a big jump in profits on the the back of the Iran war. The French oil major reported $5.4 bln in profits over the first three months of 2026, a 29% increase compared to the same period in 2025. Advocacy events will highlight the impact of TotalEnergies' East African Crude Oil Pipeline (EACOP), Mozambique LNG Export Terminal, and more. (Oil Change International)

A UK firm is launching a platform to sell up to 100,000 carbon-removal credits a year to cloud-computing providers. 

A South Korean trader and project developer has signed a contract with a Singapore-based marketplace for carbon credit procurement worth KRW 8.38 billion ($5.59 million).

Faster audits - Removals registry Puro.earth has launched an audit booking calendar to allow suppliers to generate revenue faster and bring greater transparency to buyers, it said in a release Thursday. The new tool enables suppliers to submit, manage, and track facility audit bookings in a single, structured platform, thereby replacing previous processes with a real-time view of booking status, audit timelines, and coordination with Puro certification teams. It's designed to shorten the gap between production of carbon removals (CDR) and the issuance of carbon credits, supporting faster time to revenue as the market scales.

Worldwide investment in oil will decline for a third consecutive year in 2026, while the shift to renewables and nuclear could accelerate after the US-Israeli war against Iran triggered a focus on energy security, the International Energy Agency (IEA) said Thursday.

The European Union could link its two emissions trading systems over time by introducing an explicit “exchange rate” for allowances, helping to avoid sudden price shocks, according to a new academic study on gradual market integration.

Ethiopia's carbon market law - Ethiopia’s Council of Ministers has approved a draft carbon market proclamation to establish rules for carbon trading and attract green investment, local news outlet The Reporter said Tuesday. The draft legislation, which will now go to Parliament, seeks to operationalise the country’s carbon market strategy, define procedures for carbon trading, support climate finance access, and set safeguards for communities and ecosystems affected by carbon projects. It would also create mechanisms for sharing carbon trading revenues among the government, project developers, local communities, and other stakeholders, the outlet reported.

An emerging risk that many corporate net zero goals will not be met could push through greater pragmatism when outlining targets, as well as a more flexible approach across standard-setters, according to experts, even as the number of companies announcing science-aligned climate ambitions continues to grow.

South Korea's carbon permit prices have climbed back to the KRW 20,000 ($13.30) level for the first time in three and a half years, driven by surging demand and leading analysts to upwardly revise their market forecasts.

Urban planners seeking to reduce car-based commuting CO2 emissions should prioritise housing near city centres and employment hubs, a study released Thursday has suggested.

Now available - Australian carbon project developer Canopy Nature Based Solutions on Thursday offered a fresh tranche of ACCUs from its Peniup environmental planting project in Western Australia. The company said the project, located in the state’s southwest biodiversity hotspot, has restored more than 750 ha of native vegetation since 2008 and issued over 78,000 ACCUs to date. Canopy said ecological surveys showed bird diversity at the site now rivals undisturbed bushland, while the project also supports threatened species including the Malleefowl and Carnaby’s Black Cockatoo. The Peniup project, registered as EOP101147, forms part of the Gondwana Link conservation corridor connecting the Stirling Range and Fitzgerald River national parks.

Storage record - Adani Green Energy, backed by Indian billionaire Gautam Adani, has commissioned a 3.37 GWh battery energy storage system (BESS) in Gujarat, India, billed as the world’s largest single‑site deployment outside China. The project, including 1.37 GWh added in March, was delivered within 10 months, bringing the firm’s total operational BESS capacity at the site to 3.37 GWh.

Carbon market group IETA has urged India to move faster on Article 6 agreements and broaden the scope of eligible projects, warning the country risks missing out on billions of dollars in climate finance if implementation remains slow.

A carbon removal (CDR) registry launched on Thursday a tool seeking to centralise audit scheduling and shorten the time to issuance.

Rock weathering record - Alt Carbon, a Bengaluru‑based climate tech firm, said its Darjeeling Revival Project has removed about 10,000 tonnes of CO2, equal to the footprint of a small AI data centre. CEO and co‑founder Shrey A. said in a LinkedIn post that this is the world’s largest issuance of carbon removal credits through enhanced rock weathering.

The second project under Australia’s Nature Repair Market (NRM) has been registered, combined with a carbon credit project.

Plantation prep gains pace – Uttar Pradesh’s environment, forest, and climate change minister, Arun Kumar Saxena, on Wednesday directed officials to finish preparations for the state’s 350‑mln tree plantation drive, Jagran reported. Reviewing progress, he stressed the farmers’ role, urging awareness of carbon financing and tree‑planting benefits. Officials reported 524.6 mln saplings ready in nurseries, expanded participation through Green Chaupal, an environmental and rural development initiative launched by the state government, in 27,000 Gram Panchayats, and initiatives such as distributing carbon credit money to farmers.

Green city – Thailand’s greenhouse gas agency TGO this week signed an agreement with the country's Treasury Department Asset Development Company to develop Bangkok’s Chaeng Wattana government complex into a low-carbon model city, it announced on Facebook. The partnership will create a GHG inventory covering buildings, utilities, and activities within the complex, while setting emissions reduction targets and annual action plans. TGO will provide technical guidance, emissions assessment tools, and staff training, while TDAD will coordinate implementation across agencies operating at the site.

New cohort – The UK-funded Climate Finance Accelerator (CFA) Vietnam has selected 13 companies for its 2026 programme, representing around $352 mln in low-carbon projects across sectors including clean energy, electric mobility, circular economy, and sustainable agriculture, VIR reported. The companies were chosen from 81 applicants based on their potential climate impact, scalability, and contribution to jobs and economic growth, organisers said. PwC Vietnam, which implements the programme locally, will provide technical and financial advisory support to help projects secure investment. The selected businesses will later participate in investor matchmaking sessions scheduled for October.

Capital reallocation – Savings from climate initiatives such as the Government Investment in Decarbonising Industry Fund and Warmer Kiwi Homes, and ceasing support for energy innovation centre Ara Ake are being reallocated, New Zealand’s finance minister, Nicola Willis, announced Thursday as part of the Budget 2026. A portion of these savings – totalling some NZ$77.4 mln ($45.6 mln) over five years – will be redirected to the NZ$48 mln for gas transition loans announced earlier this week as well as NZ$20 mln over two years to help schools install solar panels and batteries. Meanwhile, the now-disestablished environment ministry, absorbed into a new mega Ministry for Cities, Environment, Regions, and Transport, will be making operational efficiencies to cut spending by NZ$14 mln over the next four years – more than any of the other legacy departments it has been merged with. These savings include NZ$1.2 mln from the Climate Change Commission.

A Toronto-headquartered carbon and precious metals royalty and streaming company has sharply narrowed its focus on voluntary offset markets after pulling back from a large-scale regenerative agriculture programme, while continuing efforts to monetise forestry credits and advance a planned merger.

Edging down – Scope 1 and 2 emissions at dairy giant Fonterra were down 27% below its 2018 baseline as of the end of Q3 of the 2026 financial year, according to its results for the period released on Thursday. Its emissions data has been restated to account for the divestment of Mainland Group, it noted. Meanwhile, it estimated that 6% of farms within the cooperative are achieving emissions excellence – an incentive programme launched June 2025 which financially rewards farmers which report emissions below the 2017-18 baseline, minus removals. The New Zealand-headquartered company has an internal target to halve its operational emissions by 2030, relative to 2018 levels. Earlier this year, Fonterra indicated its emissions may creep up in the current financial year amid increased production. The company reported total profit for the three quarters of NZ$1.8 bln ($1.1 bln), up NZ$103 mln year-on-year.

Legislative certainty – New Zealand’s parliament on Wednesday passed a bill to officially disestablish the Ministry for the Environment, clearing the way for it to join a combined Ministry for Cities, Environment, Regions, and Transport (MCERT). RMA Reform Minister Chris Bishop noted that the environment ministry was the only one of the amalgamated departments which needed to be legally disestablished, as it was set up by statute. The other departments forming MCERT are the Ministry of Housing and Urban Development, the Ministry of Transport, and the local government functions currently administered by the Department of Internal Affairs. Announced at the end of 2025, the new ministry is set to be fully operational by July 2026.