The type of engine installed on an LNG carrier is becoming the defining factor in its future competitiveness under tightening maritime emissions rules, with older vessel classes facing mounting carbon compliance costs that could accelerate their exit from the market, according to new analysis.

Global wildfire activity in 2025 produced the second-lowest burned area and third-lowest CO2 emissions since satellite records began in 2002, but a growing concentration of destructive fires in populated and carbon-rich regions continued to generate severe human and economic impacts, according to a review published this week.

Chip shot – Greenpeace activists confronted Nvidia CEO Jensen Huang in Taipei last week, urging the company to extend its renewable energy targets across its manufacturing supply chain amid concerns over rising emissions linked to AI chip production. The environmental group said Huang signed a model cake carrying the message "AI Needs Renewable Energy" after responding positively when asked whether Nvidia could invest in renewable energy alongside its suppliers in Taiwan. Greenpeace said Nvidia's supply chain emissions more than doubled between 2023-25, and arguing that Taiwan's fossil fuel-reliant power system is under increasing strain from rising AI-related manufacturing demand.

CORSIA prices failed to rebound last week, with price assessments for eligible units down by more than 12% week-on-week and benchmark ICE futures dipping below $10/tonne amid higher jet fuel prices, even as market executives expressed hope for resurgence in demand once the Middle East conflict ends.

Vietnam’s environment ministry has launched a blue carbon partnership to help mobilise finance for the sustainable management of coastal and marine ecosystems, in collaboration with the UN and UK government. 

A Thai state agency and an agribusiness and food conglomerate announed last week they have launched a rubber plantation project that aims to generate up to 1 million carbon credits across 80,000 hectares in northeastern Thailand.

An Australian biochar developer has begun harvesting and pyrolysis trials at a project in North Queensland that aims to convert invasive woody biomass into biochar-based carbon removals (CDR).

Australia's plans to keep pumping out gas while reaching net zero emissions rely on unrealistic assumptions about the future availability of carbon removals, hydrogen, and carbon capture technologies, according to a new report.

A Thailand-based digital services firm last week announced plans to issue a digital token in the third quarter of 2026, raising up to THB 480 million ($14.7 mln) for a mangrove reforestation project tied to 400,000 carbon credits.

The Global Environment Facility (GEF) trust fund has approved $144.3 million for 16 climate and nature-positive projects around the world that are expected to mobilise more than $828 mln in co-financing.

The Shanghai municipal government is scheduled to auction off permits under its emissions trading scheme at the end of this month to help regulated companies acquire sufficient permits for compliance.

Poor projection - The New Zealand government has flagged it doesn't expect any allowances to be sold this year at ETS auction events, according to budget papers released last week. Auctions have failed to clear in recent years due to poor market sentiment, low carbon prices, and compliance entities being well-supplied. This year's auctions have a minimum floor price of NZ$71 ($42.37), compared to Monday's closing price of NZ$52.30. The second auction of the year will take place on June 9.

Shanghai version of MSR - China's Hwabao Trust has established a carbon trust for permits issued under Shanghai's emissions trading scheme, as part of the municipal government's carbon market reforms. The trust will shortly begin to regulate the market through paid auctions in accordance with the local trading rules, according to a recent statement by Shanghai Environment and Energy Exchange (SEEE). By leveraging a trust mechanism to orderly allocate surplus allowances, a reserve pool similar to the Market Stability Reserve (MSR) under the EU ETS will then be established for the megacity's carbon market, SEEE said.  

Malaysia is set to surpass its renewable energy capacity target by 2031, according to a report, amid growing electricity demand across the nation.

BESS boost - Six new projects will more than double South Australia’s large-scale battery storage capacity, according to the state's department for energy and mining. Under the state’s Firm Energy Reliability Mechanism (FERM), new tenders for long-duration capacity have been awarded, accelerating private investment in large-scale battery energy storage systems (BESS). This will increase the state’s total battery storage from 1.1 GW to 2.5 GW, providing over 517 MW of dispatchable power - enough to supply more than 300,000 average households for up to eight hours.  

High-level visit - Hong Kong is set to strengthen its economic ties with Central Asia as Chief Executive John Lee prepares to lead a delegation to Kazakhstan and Uzbekistan this month. The visit aims to establish new trade routes and deepen cooperation between the world city and the two nations, according to the Standard. One of the areas of potential cooperation will be green development, as Hong Kong offers a robust green economic ecosystem to help the region accelerate its progress toward carbon neutrality.

Funding opportunities - The South Korean government is seeking to help small and medium-sized enterprises with carbon reduction technologies attract investment, Seoul Economic Daily reported. The Korea Technology Finance Corporation (KOTEC) and the Korea SMEs and Startups Agency (KOSME) recently organised an event to expand investment opportunities for promising SMEs in the climate field. It followed the signing of a business agreement between KOTEC and the Korea Development Bank, under which KOTEC will support financing through preferential guarantees, including ones for climate response and green technology projects.