A coalition of governments – including the COP30, COP31, and COP32 presidencies – have launched a platform to speed up electrification of the global economy, they announced on Tuesday as part of London Climate Action Week.

Support for a fossil fuel treaty is at its highest, with groups calling for a mechanism to manage the phasedown of fossil fuels in a just and equitable way, according to a report released on Tuesday.

US expansion - Sydney-headquartered New Forests, a nature-based asset investment manager, has expanded its footprint in the US with an acquisition of 44,200 acres of plantation forest in Washington State, it announced on Tuesday. The company plans to explore opportunities for carbon project development on the land while maintaining an active harvest programme. Other US-based assets are located in California, Oregon, and the southern region. This follows the kickoff last Monday of New Forests’ A$1 bln ($700 mln) equity raise for its first global fund, addressing interest from institutional investors in forestry, agriculture, and the carbon and biodiveristy markets.