Not so Tropical - The Norwegian government is facing opposition from political opponents to the agreement to provide loans up to $3 bln (NOK 30 bln) over 10 years to Brazil’s Tropical Forest Forever Facility (TFFF). The deal, which was announced at last year’s COP in Belem, still needs parliamentary approval. The minority government faced resistance from all opposition parties, temporarily freezing the pledge made by Prime Minister Stor, according to Development Today.

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.

Brussels must strike a balance between scale and integrity when it designs its international carbon credit purchasing framework, market stakeholders said this week, as the Commission digests the results of its recent consultation on the matter.

EU carbon prices are on course to end year around their current price level, with speculators maintaining a bullish view of where the market is trending despite "unprecedented" policy risk from the upcoming ETS review, an analyst at an energy consultancy said on Thursday.

European carbon lost ground on Thursday, reversing Wednesday's tentative rebound, as participants noted little upside with the Strait of Hormuz closure continuing to weigh on economic fundamentals, even as energy markets ticked downwards.

Energy-intensive industries and several European governments are still urging the EU to suspend a planned tightening of benchmarks that determine how many free allowances installations receive under the EU Emissions Trading System (EU ETS), including steep cuts to key “fallback” values, while NGOs and think tanks push for more transparency in how the new rules are set.

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.

Russia rating update – Russia has updated its national ECG business reputation rating to allow companies to receive additional points for implementing climate projects from June 2026, according to the country’s carbon registry. The updated standard, which enters into force on June 13, assesses companies based on environmental, workforce, and governance-related criteria, with proof of climate project activity or carbon credit issuance able to be provided through extracts from Russia’s carbon unit registry. The rating covers around 98% of Russia’s commercial organisations, or about 7.7 mln entities, with non-profit organisations also included from 2026.

Sierra Leone is preparing its first Biennial Transparency Report (BTR) under the Paris Agreement as it seeks to strengthen the institutional foundations underpinning its participation in international carbon markets, according to insurer Oka following a recent visit to the West African country.

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.

A carbon removal (CDR) standards body has teamed up with an established London firm in a bid to expand its pool of insurers eligible to underwrite risks associated with supplying the CORSIA aviation offsetting scheme, it announced on Thursday.

A Swiss climate organisation reported lower income and lower spending on climate protection projects in 2025, while its initiatives generated 2.93 million tonnes in certified CO2 emission reductions.

Europe’s power grids risk becoming a major bottleneck for electric vehicles within the next four to five years, even as high oil prices and new EU carbon rules are set to turbocharge demand for battery-powered cars, senior industry executives have warned.

Electrification must become the backbone of Europe’s energy security strategy, rather than a search for new gas suppliers – and weakening the EU Emissions Trading System (ETS) would only make the bloc’s climate and industrial balancing act harder, experts warned on Thursday.

The European Commission needs to confirm it will bring carbon removals (CDR) into the EU ETS when it proposes market reforms next month – providing a much-needed policy push to a global public good, a former UK government official has said.

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.

An environmental watchdog publication alleges that carbon credits from Senegal’s flagship mangrove restoration project were overstated, with researchers describing much of the claimed storage as “ghost carbon”.

The European Commission is developing a new blue carbon credit certification system that aims to reward the expansion and creation of marine ecosystems for their role in absorbing CO2, a senior official said, while presenting the EU’s new island and coastal strategy.

A UK-based voluntary carbon offset provider will buy nature-based removals from an afforestation, reforestation, and revegetation (ARR) project under a "staggered spot" agreement covering both issued and in-verification credits, it announced on Thursday.

The UK government is set to sign off on a deal to extend the life of country's biggest operational nuclear power plant, Sizewell B, by two decades, according to media reports on Thursday.

Electricity is the most penalised energy carrier in Italy, where it faces taxes and carbon-related costs that are up to four times higher than those applied to gas in the household sector and more than 20 times higher in parts of industry, according to a study published Thursday by the climate think tank ECCO.

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.

As creditworthy offtakers with significant energy requirements, data centres can be a key driver of the clean energy transition, especially as tech companies seek to curb their environmental impact, say experts.

The Polish government is urging the EU to dial back a planned tightening of its carbon market after 2030, warning that an “artificial scarcity” of allowances could undermine investments in carbon capture and storage (CCS) technology needed to decarbonise the country’s cement industry.

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.

Organisers of the 2026 Summit on Clean Cooking in Africa have announced the postponement of the high-profile event, which was originally scheduled to take place in Nairobi on July 9-10.

The European Union’s legislators reached a provisional agreement early Thursday morning to strengthen the Market Stability Reserve (MSR) of the bloc’s new carbon market for buildings and road transport, in a move aimed at reducing the risk of price shocks ahead of the system’s launch.

Greater demand for near-zero-emissions steel could as much as triple demand for supply, using existing best practices for buying, according to a report released on Thursday.

Carbon capture and storage risks turning into a political liability in Europe because most people – including many politicians – have never seen it in action, Danish lawmaker Niels Flemming Hansen has warned, urging reforms to the EU carbon market to better support industrial decarbonisation and carbon dioxide removals (CDR).

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.

Airlines are focusing more on soaring jet fuel costs and operational pressures than carbon credit purchases as prices for CORSIA-eligible offsets continue to weaken ahead of the scheme’s upcoming mandatory phase in 2027, according to a member of ICAO’s Technical Advisory Body (TAB).

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.