Carbon accounting firm Absolute Climate has opened a month-long public consultation on an updated version of its Absolute Carbon Standard (ACS), introducing revisions to its framework for certifying removal activities and low-carbon products amid growing scrutiny of market integrity.

Here he comes - NOAA has officially declared the start of an El Nino event after sea surface temperatures in the tropical Pacific rose above the threshold used to define the climate pattern. Forecasts suggest it could become a very strong or even "super" El Nino, potentially ranking among the strongest since records began in 1950. Scientists are particularly concerned because the event is developing on top of an already warmer climate. A strong El Nino typically adds around 0.2C to global temperatures, raising the likelihood of record-breaking heat in 2027 and potentially pushing global warming above 1.5C for another year. El Nino, which occurs naturally every two to seven years, can have major global impacts, including flooding in parts of South America, East Africa, and the southern US, while increasing drought and wildfire risks in Australia, Indonesia, and northern South America. It can also disrupt agriculture, food supplies, and economies worldwide.

Enhanced rock weathering (ERW) produced inconsistent responses across indicators linked to soil sponge function, according to a review of published research.

Not writing home about it - Attendance by journalists at the UN intersessional climate talks in Bonn has fallen to its lowest level since the pandemic, Climate Home reports, reflecting a broader decline in climate journalism globally. Only 135 journalists are registered for this year's SB64 talks, with major outlets sending fewer reporters than in previous years, or none at all. Press conferences at the talks have often been sparsely attended, with campaigners and researchers sometimes outnumbering journalists. Climate coverage globally is also falling. Analysis from the Media and Climate Change Observatory (MECCO) found climate reporting in the first five months of 2026 was 35% lower than the same period a year earlier and 41% below 2021 levels. Media analysts attribute the trend to newsroom cuts, competition from major news events such as the Iran conflict and World Cup, rising travel costs, and logistical barriers for reporters, including a more complex UN media registration process. Industry changes have also reduced specialist coverage, including the closure of Thomson Reuters Foundation's Context platform and the integration of E&E News into Politico's broader energy coverage. Climate advocates and journalists warn that reduced media scrutiny risks leaving important negotiations on climate finance, fossil fuel transition, and emissions policy less visible to the public. Carbon Pulse is attending though, and you can read our coverage of SB64 here.

Microsoft has agreed to purchase up to 36,920 tonnes of CO2 removal credits from Indian enhanced rock weathering (ERW) developer Alt Carbon under a multi-year deal that marks the technology giant's first ERW procurement agreement in Asia.

Company split – Global environmental disclosure platform CDP will become two separate organisations under a planned restructuring backed by global investment firm Permira, it announced Thursday. The new structure will split CDP into a commercial entity providing environmental data and disclosure services to companies, and CDP Foundation, a non-profit charitable organisation focused on developing science-led disclosure principles. CDP Foundation will remain a shareholder in CDP with board representation, while CDP’s products, services, and 2026 disclosure cycle will continue as planned during the transition. The deal is subject to regulatory approvals, including from the Charity Commission, and is expected to complete within six months.

Biochar collab – Singapore-based carbon project developer Alcom has partnered with Swiss CDR aggregator Altitude to help assess and support the latter’s existing biochar partner portfolio, aiming to ensure projects meet high standards and can scale, Alcom said in a LinkedIn post. The initiative will be led by Alcom’s director of carbon projects, Siddharth Kaul, with support from its carbon team.

Colombia is demanding institutional support for a global transition away from fossil fuels (TAFF) in Bonn, building upon momentum from April’s Santa Marta conference – and exposing divides among parties in the G77-plus-China negotiating bloc.

Share selling - Singapore-based carbon exchange ACX has sold its shareholding in UK carbon ratings agency BeZero, according to a financial filing published this week on the UK’s Companies House website. According to the document, ACX offloaded its 150,585 shares in June 2025. No other details were disclosed.

The Science-Based Targets initiative's (SBTi) long-awaited new Corporate Net-Zero Standard was widely welcomed for recognising companies that address their ongoing emissions, including with voluntary 'high-integrity' credit buying – but stakeholders critiqued its lack of mandate on near-term action, which they said will significantly dampen the immediate market signal.

Dozens of governments are running late with submitting their first round of biennial climate reports to the UN, raising concerns among Article 6 stakeholders who note that the UN carbon trading process hinges on their timeliness and accuracy.

Most G20 members assessed in a new report must accelerate emissions cuts to meet their 2030 climate targets, with several major economies needing to more than double recent rates of progress.

India's budding carbon market needs additional legal clarity before trading begins later this year, according to a legal expert who said current regulations have created ambiguity on whether compliance entities can use credits generated in the voluntary market.

A Japanese biochar solution provider is seeking to expand its business in Indonesia, with a planned feasibility study to explore the potential of credit-generating biochar project.

Recently published research shows how estimates of leakage for forest carbon projects can be significantly improved, which is necessary for addressing an important integrity issue and building confidence in carbon markets as a tool for climate action.

The Science Based Targets initiative (SBTi) has published its long-awaited Corporate Net-Zero Standard Version 2.0, which recognises companies that address their ongoing climate impact, including through the additional buying of high-quality reduction or removal credits, and plans to mandate such action from 2035, but stops short of permitting any offsetting to account for in-chain emissions.

While China's new offset methodology provides a path for livestock methane reduction projects, its dairy industry has yet to establish mature cases and continues to face significant implementation challenges, according to a recent report.

India's carbon credit startup ecosystem remains dwarfed by other climate technology sectors, attracting just a fraction of the investment flowing into electric vehicles, renewable energy, and battery storage, new data showed.

The first batch of carbon credits issued under the Paris Agreement's Article 6.4 mechanism are linked to institutions controlled by Myanmar's military junta and may have been verified under conditions that made independent oversight impossible, a report claimed on Thursday.

New investment - Japan's Chubu Electric Power has entered into agreements to invest around JPY 23 bln ($144 mln) in Continuum Green Energy, a wind and solar power generation company in India. Continuum supplies electricity to India's commercial and industrial sector through power purchase agreements. Chubu Electric Power said it is eyeing the growing demand in the market, as India aims to install 500 GW of renewable energy capacity by 2030.

First deal - Sompo Japan Insurance, a member of the Natural Capital Credit Consortium (NCCC), has completed the first-ever purchase of credits issued under the NCCC Carbon Standard, the consortium announced Thursday. The credits were generated from the Akaiwa grassland project implemented by Tsujita Construction Machinery, which used a patented construction technique to prevent soil erosion and strengthen the ground during construction.  

First issued credits - China's Guangzhou has successfully issued the first batch of carbon credits from a mangrove project, developed based on a local methodology, Guangzhou Daily reported. A total of 1,251 credits were issued, including 554 from mangrove afforestation and 697  from restoration initiatives in Nansha Wetland. This issuance follows the city's release of a methodology last year to quantify local mangrove carbon sequestration.  

Generational change - The Western Australian government has committed nearly A$10 mln ($7 mln) into Generation Steel, formerly Green Steel of WA, to progress its low emissions steel mill in Collie, it announced. The funding will be allocated from the A$230 mln Collie Industrial Transition Fund, will be matched by the company and will support pre-development activities before final investment decision, expected later this year. The project aims to use an electric arc furnace and use 100% recycled scrap steel feedstock to produce up to 450,000 t/year of steel, with a 75% lower emissions footprint compared to conventional steel making processes.

Lifecycle tracking - BHP has signed an agreement with Chinese conveyor company Wuxi Boton Technology to jointly develop lower-carbon conveyor systems for mining operations worldwide, they announced. Part of the agreement will see the companies explore a supply-chain carbon tracking programme covering the full lifecycle of conveyor systems, from raw materials and manufacturing through to operation and recycling, with the aim of reducing emissions and improving circularity through conveyor belt recycling initiatives, according to the agreement. The work will also focus on deploying advanced technologies, such as AI, robotics, and X-rays, building on work already underway at BHP's Escondida copper mine in Chile.

Green growth - Demand for green equipment finance in Australia is up 32% in six months, according to National Australia Bank, which said businesses are rapidly shifting away from diesel. The bank in a statement said uptake of green equipment finance in Mar. 2026 is more than double that of the same time last year, thanks to high fuel prices sparked by ongoing fighting in the Middle East.

The United Nations Development Programme (UNDP) has urged Sri Lanka to operationalise and regulate its policy position on carbon trading, warning that private capital will only flow into markets offering predictability, credibility, and clear institutional structures, local media reported.

Volatility returns - As the US and Iran resumed exchanging strikes this week, challenging the fragile April ceasefire, consultancy Rystad Energy warned oil prices could surge towards $150/bbl if fighting intensifies further. Rystad added that it was too early to determine whether the flare-up would lead to a full resumption of hostilities, but noted that the likelihood of a near-term diplomatic agreement had fallen from about 40% just weeks ago. Still, the impact on crude markets could be moderated by record releases from the US Strategic Petroleum Reserve, weaker Chinese crude imports, and continued flows of around 5 mln bpd of Saudi oil that bypass the Strait of Hormuz via the Yanbu pipeline into the Red Sea. Brent crude prices touched $92/bbl on Thursday.

Strung together - The Queensland state government has committed A$3.2 bln ($2.2 bln) to the state's CopperString electricity transmission project, with A$420 mln coming from its latest budget, it announced. The funding will support construction activities for the Eastern Link as well as enabling works for the Western Link, including through the North West Energy Fund. The first stage of the project is expected to be complete by 2032, connecting north and northwest Queensland to the National Electricity Market (NEM).

When governments provide short-term relief for energy crises, they tend to go in the wrong direction, whereas prioritising structural responses can create much greater resilience in the long run, according to new research.

Free gas – Genesis Energy has agreed to shut unit five of its Huntly power station from July 1 until the end of the year to free up gas for commercial and industrial users, the New Zealand gentailer said on Wednesday. The 400 MW unit was closed for three months last year for a similar reason, the company added, noting that this year’s arrangement is supported by an established coal stockpile at the site, good availability of hydropower, and its broader generation and fuel portfolio. Genesis has been signing agreements to procure torrefied wood pellets for use at Huntly, estimating that it will need 300,000 t of biomass annually by FY2028. New Zealand’s electricity system is dominated by renewables – with clean energy accounting for over 90% of electricity supplied over the past six months – but it currently relies on fossil fuels to fill the gap in dispatchable energy, such as in dry years. Power generation is covered by the NZ ETS, boosting the economic case for biomass.

An Indigenous carbon group has said the staged consent process outlined by the Australian government's carbon market reforms needs to be tightened up, while project developers warned expanding consent rights to Native Title claimants could impact the viability of some carbon projects.

Solar shine – A 50% increase in solar capacity year-on-year helped lift New Zealand’s renewable energy supply to 94.5% in Q1 2026, government data on Thursday showed – the second consecutive quarter where renewables accounted for over 90% of electricity. The latest Energy Quarterly reported record solar output, of 373 GWh, for the three months ending Mar. 31, with hydro and wind power also up around 20%, compared with Q1 2025, to 5,900 GWh and 877 GWh, respectively. Surging renewable energy meant that coal and gas-fired generation dropped, down 65.6% and 67.4% YoY respectively. Emissions from power generation, covered by the NZ ETS, also fell by around 63% YoY, to 420,000 tCO2e.

Philling up – The government of the Philippines has made the first Global South contribution to the Global Green Growth Institute (GGGI), the intergovernmental organisation said in a press release this week. It came as GGGI signed an MoU with the Civil Aviation Authority of the Philippines, which underpins a formal operational framework to accelerate the latter’s sustainable aviation fuel roadmap.

New Zealand could face a bill of up to NZ$6.6 billion ($3.8 bln) to meet its Paris Agreement targets out to 2035, government modelling released Thursday showed.