Peru’s carbon market should be self-sustaining instead of relying excessively on foreign aid, without necessarily replacing international funds, officials and institutional partners told Carbon Pulse this week at the Peru Carbon Forum in Lima.

WCI RFP - Market administrator WCI Inc., which administers the California-Quebec and Washington carbon markets, issued a RFP on Friday for financial services for auction and reserve sales. Proposers' questions and initial responses are due, respectively, by June 26 and July 24.

California regulator ARB approved long-awaited updates to the state's Cap-and-Invest Program during a Friday hearing.

Emitters and financial players moved in opposite directions with their California Carbon Allowance (CCA) and RGGI Allowance (RGA) holdings during the most recent US Commodity Futures Trading Commission (CFTC) reference period.

An afforestation project in eastern Colombia has completed its first verified issuance after seven years under development, with backers aiming to expand the planted area and bring additional volumes to market.

What's in a name - Cielo Waste Solutions Corp. has renamed its sustainable aviation fuel (SAF) and carbon capture project in British Columbia Project Nahoonai, from Project Nexus. Street Insider reported the new name comes following consultation with the Lheidli T’enneh First Nation, upon whose traditional territory the facility is being built.

NYCI pushback - New York Gov. Kathy Hochul (D) has officially signed the state’s 2027 budget, pushing back climate regulations and targets, according to ESGtoday. The state’s Department of Environmental Conservation now has until 2028 to issue regulations to meet emissions requirements, including for its cap-and-invest programme, dubbed NYCI. It also sets a new interim target of 60% emission reductions by 2040.

Fast food, slow progress - McDonald's will miss its 2030 emissions targets, reported ESG News. The fast food giant cited energy systems, logistics, agriculture, and global supply chain disruption for the gap. The company also confirmed that it fell short of a key packaging goal, which looked to use only renewable, recycled, or certified materials in its packaging by the end of 2025.  

The US Securities and Exchange Commission (SEC) proposed on Friday to rescind its climate-related disclosure rules in full, arguing the requirements exceeded its statutory authority and would impose costs on public companies not justified by the resulting information provided to some investors.

Total protest - Climate activists demonstrated outside the headquarters of TotalEnergies on Friday to protest the state's accumulation of a ‌1.33% stake worth $2.8 bln in the oil major, making it the group's 10th-largest shareholder, various media have reported. The gathering was organised by the StopEACOP (East African Crude Oil Pipeline) Campaign and joined by several other climate justice organisations. The protest was timed to take place ahead of ​TotalEnergies' annual shareholders' meeting on the same day. The government stake was not publicly ​announced in France but was disclosed in a February filing with the US Securities and Exchange Commission, detailing major holdings ​of US-listed companies. Total cross-listed its shares in New York in December. The French ​government stake in TotalEnergies is held via the Caisse des Depots et Consignements (CDC), the state's financial arm handling regulated ​savings accounts that guarantee citizens a rate of return.

Penalties suspended - Brazil’s Federal Court of Accounts (TCU) has temporarily suspended penalties imposed during 2024 on fuel distributors that failed to meet targets under the RenovaBio programme, which establishes a decarbonisation credit (CBIO) market for the country’s biofuel sector. Around 20% of the 2024 targets remained unmet, leading to legal disputes involving an estimated R$1 bln in unfulfilled obligations. While the court suspended sanctions related to compliance cycles closed by Dec. 31, 2024, it upheld the mandatory purchase targets for CBIOs in the current and future cycles. (Folha de S. Paulo)

Texas takeoff – Houston based KBR said on Thursday that Baltic sustainable aviation fuel (SAF) producer NorSAF has selected its PureSAF technology for a project it described as Northern Europe’s largest planned SAF and e-SAF production facility. The technology provider will license the process, originally developed by Swedish Biofuels AB, for a Latvian plant expected to produce 100,000 tonnes of SAF and e-SAF annually from 2030. The project is backed by Avia Solutions Group and is intended to supply aviation customers across the Baltics, Northern Europe, and other European markets. The announcement comes as the EU's ReFuelEU Aviation regulation mandates increasing SAF use, with minimum blending requirements set at 6% by 2030 and rising to 70% by 2050.

LNG lifeline – Ksi Lisims LNG and Germany's SEFE announced a long-term supply agreement under which the European energy company will purchase one mln tonnes per annum (Mtpa) of LNG for up to 20 years, according to the Canadian government. The deal represents the first long-term supply of Canadian LNG to a European buyer and forms part of Ottawa's push to diversify exports beyond the US. Once fully electrified, the government said Ksi Lisims LNG is expected to be one of the world's lowest-emission LNG operations, with emissions projected to be 94% below the global average.

Most of the ministers of the Brazilian Supreme Federal Court (STF) voted to strike down the mandate for insurance companies to invest in carbon credits.

Just three of 23 assessed dairy and coffee companies have published methane reduction targets for 2030, according to a report released this week.

ICE Futures Europe has launched a new liquidity provider programme for its CORSIA carbon market contracts, in a move aimed at supporting trading activity across both current and future compliance periods of the UN aviation offsetting scheme.

A US oil major this week retired an estimated $250 million in avoided deforestation credits generated as a byproduct of one of the largest oil discoveries in decades, a project that has since sparked a multi-billion dollar legal battle.

Last week’s UN General Assembly vote to adopt a resolution endorsing the International Court of Justice’s (ICJ) advisory opinion on states obligations on climate change is a boost for multilateralism and international climate frameworks, including the Paris Agreement, experts told Carbon Pulse.

Lagging - The Bezos Earth Fund, a $10 bln climate philanthropy launched by tech giant Amazon's founder Jeff Bezos, has allocated only 28% of its pledged funding despite a commitment to spend the full amount by 2030, Bloomberg reported. The fund has disbursed around $2.8 bln so far, leaving more than $7 bln to be deployed over the next four years. Annual spending fell to $183 mln in 2025 before rising to at least $400 mln in the first four months of 2026. Fund executives told Bloomberg that they remain committed to the 2030 target and are prioritising long-term impact over the pace of grantmaking, while assessing whether funding is reaching the most effective organisations.

Carbon market standard Verra will decide whether to permanently integrate insurance- and fund-based alternatives to traditional buffer pools post-pilot, depending in part on whether credits issued under the approaches can qualify for integrity labels such as the Core Carbon Principles (CCP), according to a programme manager.