UK-MEX agreement - The Mexican Secretary of Environment and Natural Resources (SEMARNAT) and the UK's Department for Energy Security & Net Zero have signed a Memorandum of Understanding (MoU) on climate, energy, and nature cooperation, SEMARNAT announced on Tuesday. Both countries agreed to accelerate the implementation of Mexico's third Nationally Determined Contribution (NDC), promote low-carbon energy sources and infrastructure, strengthen biodiversity finance mechanisms, and accelerate industrial decarbonisation, among others. The agreement will serve as a framework for International Climate Finance agreements. It adds to the recent update of a long-standing cooperation agreement between the EU and Mexico.

Lawsuits seeking to block the Trump administration's rollback of climate policies accounted for around one-fifth of all US climate litigation filed in 2025, reflecting an unprecedented shift towards using the courts to defend existing climate rules, according to a report published on Thursday.

A carbon ratings agency has acquired an AI-powered sustainability workflow software platform and hired its founding team, as it seeks to expand its analytical and due diligence capabilities amid growing demand for data-driven risk assessment tools in carbon markets.

The EU's rigid approach to renewable hydrogen rules could increase emissions, drive up costs, and push up food prices, according to analysis by a Polish climate think-tank.

Eight global companies joined a coalition on Tuesday to test and help shape hourly carbon-free electricity procurement, as businesses move beyond annual renewable energy matching toward 24/7 clean power strategies.

Few markets have faced as severe a reputational battering as the REDD+ avoided deforestation sector in the last couple of years, but new standard body Equitable Earth (EE) plans to restore faith in saving tropical forestry with a fresh approach that is already set to protect an area the size of Portugal, the chief executive told Carbon Pulse this week.

EUAs rose as much as 1.5% before falling back towards the week's lows on Wednesday as traders positioned themselves for the expiry of June options in the early afternoon and after weekly Commitment of Traders data showed speculative traders had increased their bullish bets last week by the most in nine months and ahead of the afternoon expiry of June options contracts.

Energy giant Fortum is closing Finland's last remaining coal-fired power plant in early 2027, as part of its commitment to reach net zero by 2040, the company announced on Wednesday. 

MSR2 small print – The Council of EU member states on Wednesday published the full text of the agreement reached earlier this month to reform the Market Stability Reserve (MSR) of the bloc’s new carbon market for heating and road transport fuels (ETS2). Negotiators from the Council of EU member states and the European Parliament reached a political agreement on June 11 to reform the MSR so that it can respond more decisively when ETS2 prices rise sharply. Under the deal, the volume of allowances that can be released from the reserve when prices exceed €45 per tonne of CO2 equivalent (in 2020 prices) will be doubled from 20 million to 40 million. The full text of the agreement is available here.

The UK is lagging behind its greenhouse gas (GHG) emission targets, warns the government’s climate advisory body, amid a fierce political debate on the speed of the electric vehicle (EV) roll-out.  

Austria, Italy, Luxembourg, and Spain have requested that the bloc’s environment-devoted LIFE programme not be scrapped from the EU's long-term budget, as they plan to raise the issue during Thursday's Environment Council.

Paris has warned the European Union against watering down its climate policy framework ahead of a ministerial meeting on Thursday, stressing that EU laws must remain consistent with the bloc’s 2040 climate objectives agreed earlier this year.

EU, Canadian, and Chinese climate leaders opened the 10th Ministerial on Climate Action (MoCA) in Brussels on Monday, urging governments to accelerate the clean transition and use the talks to build political momentum ahead of COP31 in November.

An Israel-based agricultural technology company has issued its first verified carbon removal (CDR) credits, with plans to “disrupt the global CDR market”, according to its CEO.

The Council of EU member states has agreed its negotiating position on a major overhaul of the bloc’s sustainable finance disclosure rules, aiming to simplify requirements for investment products and make it easier for investors to compare sustainability claims.

The European Commission on Wednesday proposed an overhaul of the EU’s energy and tyre labelling rules, aiming to cut paperwork by scrapping mandatory printed labels on every product and moving more information online before ETS2 starts applying in 2028, a move expected to raise heating fuel costs due to carbon pricing.

Orsted has cut its scope 1 and 2 emissions intensity by more than 98% since 2006, but value chain emissions linked to steel, maritime fuels, and copper now represent the main carbon challenge for its offshore wind business, the Danish offshore wind major said Tuesday in a report launched during London Climate Action Week (LCAW).

The Integrity Council for the Voluntary Carbon Market (ICVCM) has launched the first of a series of modules to help organisations navigate high-integrity carbon markets. 

A green steel startup on Wednesday announced the completion of a $1.6 billion equity financing round, securing backing from existing shareholders, new investors, and lenders.

CRCF Buyers’ Club website launched – The European Commission has launched an official website for its EU CRCF Buyers’ Club, detailing how buyers and suppliers of certified carbon removals and carbon farming units can join the new voluntary market platform launched by the European Union. The Club, announced under the EU Bioeconomy Strategy, is designed to aggregate demand for units certified under the Carbon Removals and Carbon Farming Regulation and to mobilise public and private capital for permanent removals and carbon farming. Initial purchases of permanent carbon removals are planned by Dec. 2026, with eligibility focused on DACCS, BioCCS and biochar projects. Potential buyers are invited to register interest via a dedicated EU Survey.

Policymakers broadly agree that a more responsive Market Stability Reserve (MSR) is needed to make the EU carbon market react faster to price spikes, but they remain split over whether this can be achieved using existing volume-based indicators or whether new price-based triggers are required – a step advocates say could pave the way for a “soft price corridor”.

Egypt solar push – Egypt’s industry ministry is stepping up efforts to cut industrial emissions through expanded solar deployment in partnership with local developer IRSC Renewable Energy Solutions, the ministry said in a social media post. Industry Minister Khaled Hashem met IRSC Chairman Andrew Daniel to discuss cooperation on industrial microgrids and solar projects in existing industrial zones, aimed at lowering energy costs and boosting factory competitiveness. IRSC highlighted its track record of Egyptian‑engineered solar plants, including projects for PETROBEL, Hassan Allam and Dina Farms. The talks align with Egypt’s Shams El‑Sinaa initiative to install rooftop solar on some 7,000 factories, targeting 1,000 MW of capacity to curb natural gas use and strengthen export resilience under mechanisms such as carbon border charges, reports Egypt Oil & Gas Group.

Ukraine steel – Capital investment in Ukraine’s steel sector rose for the first time since Russia’s full-scale invasion, increasing 17.5% year-on-year to $579 mln in 2025, according to estimates by GMK Center, a think tank. Spending on steel production jumped 40% to $370 mln, while investment in iron ore mining fell 9% to $209 mln. Metinvest, ArcelorMittal Kryvyi Rih and Interpipe focused funds on maintaining capacity, energy independence and overseas assets, including Romanian pipe plants. However, GMK Center warned that CBAM-related export losses and looming EU steel safeguard measures risk reversing the nascent recovery and forcing a shift to mere “survival investments”.

Twelve investors and one supporter have endorsed the Tropical Forests Forever Facility (TFFF), sharing a joint statement at London Climate Action Week (LCAW) and calling for more signatories ahead of the UN’s upcoming biodiversity talks in October.

Nigeria tries to speed up - Nigeria's National Council on Climate Change is working to speed up the approval timeline for carbon crediting projects, and improve coordination with state governments and private investors, the state of Niger's governor, Umar Mohammed Bago, said after meetings at the UN's Bonn climate conference this month. Niger is hoping carbon markets will support investments in infrastructure, the energy transition, waste management, agriculture, and environmental remediation, the local news outlet Daily Trust reported. But capacity gaps across institutions are slowing the process, and denting investor confidence. Nigeria is seen as having significant potential for generating credits in sectors including cement manufacturing, oil and gas, agriculture, aviation, and waste management.    

Italy’s national accreditation body has warned that at least an extra year will be needed to enrol companies tasked with checking that carbon prices have been paid in third countries under the EU’s Carbon Border Adjustment Mechanism (CBAM).

Mitigating reversal risk in carbon markets beyond the standard project life horizon will be possible with a new market-wide 'Permanence Trust' mechanism to be piloted later this year, said experts at London Climate Action Week.

The UN Industrial Development Organization (UNIDO) is seeking African projects intended to generate carbon credits through the Tokyo-led Joint Crediting Mechanism (JCM).

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.