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.

Bonded – The Development Bank of Ecuador (BDE) launched its first green bond, worth $100 mln, on Tuesday, the proceeds of which will be used to finance or refinance eligible climate projects, including renewable energy. Intergovernmental organisation the Global Green Growth Institute (GGGI) helped develop BDE’s green bond framework, which is aligned with the country's NDC, it said. GGGI added that the proceeds from the issuance will help implement the NDC, particularly in water, energy, and mobility.

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.

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 multilateral investment fund has approved $500 million in concessional finance for industrial decarbonisation programmes in Brazil and Mexico, making them the first countries to secure funding under the facility's new Industry Decarbonisation Programme.

Restoring seagrass in coastal habitats could lead to trillions of dollars in carbon credits, US-based researchers said.  

Chile has received a $15 million results-based payment from the World Bank's Forest Carbon Partnership Facility (FCPF) after verifying more than 3 mln tonnes of emissions reductions from native forests under its REDD+ programme.

Disclosures delayed – The California Air Resources Board (ARB) on Wednesday proposed delaying the first reporting deadline under the state's SB 253 corporate GHG disclosure law by three months, from Aug. 10 to Nov. 10, 2026, while it makes limited changes to clarify reporting requirements. ARB withdrew the regulation from final review by the Office of Administrative Law to allow for a forthcoming 15-day public comment period before resubmitting it for approval. The delay applies to first-year Scope 1 and Scope 2 emissions reporting and is intended to give companies additional time following adoption of the final regulation. Scope 3 emissions reporting is still scheduled to begin in 2027.

Brazil restoration project – Brazilian forest project developer re.green and pharmaceutical giant Novo Nordisk announced an alliance to establish a 500-ha restoration project in the Amazon, according to a Tuesday social media post. The project aims to generate 100,000 carbon removal credits aligned with the Integrity Council for the Voluntary Carbon Market (ICVCM) over 20 years of implementation. Activities include natural regeneration, planting of native species, and timber management in the Paragominas forest located in the northern Brazilian state of Para.

An American improved grazing project developer announced its second independent verification in June, furthering the success of this first-of-its-kind project in the US.

A coalition of academic institutions, non-profits, and private businesses has rebranded itself and launched a new fellowship programme to help scale high-integrity carbon markets, the group announced Tuesday. 

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. 

The greenhouse gas intensity of Canadian oil sands production declined for a 13th consecutive year in 2025, extending a long-running trend driven by operational efficiencies, technology deployment, and a shift towards lower-emitting production methods, according to new analysis published by S&P Global Energy.

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.  

Protected areas (PAs) in the Brazilian Amazon prevented the deforestation of more than 29 million hectares between 1985-2024, playing a critical role in biodiversity conservation and climate mitigation, according to a pre-print study.

Verra has signed a multi-year partnership worth more than $1 mln with two software firms to deploy AI-enabled customer service and contract workflow tools across its systems, it announced Tuesday.

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.

Super pollutant fund needed - The Environmental Investigation Agency (EIA) has called for a dedicated fund to scale the Climate and Clean Air Coalition’s (CCAC) Super Pollutant Country Action Accelerator, launched at COP30 last November with $25 mln to support seven countries. The programme should reach 30 countries by 2030 and should not rely on carbon or methane credits, the EIA said.

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.

Indonesia is set to launch its carbon credit registry in two weeks, as part of the country's push to drive finance towards the protection of its vast forests, the country's forestry minister confirmed during London Climate Action Week on Wednesday.

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).

A subsidiary of a major steelmaking group in South Korea is leveraging its recent acquisition of an Indonesian palm oil business to explore the carbon sequestration potential of biochar.

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 project developer has said it will list biodiversity and carbon tokens by August from a project spanning 8.7 million hectares in the Indonesian part of the island of Borneo.

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.

Learn from us - China's climate envoy on Wednesday said the disruption to global oil and gas supplies caused by the recent US-Iran conflict highlights the need for countries to accelerate their energy transition rather than rely on fossil fuels, Bloomberg reported. He argued that while some nations temporarily increased coal use to address shortages, the long-term solution is greater deployment of renewables and energy diversification. The envoy pointed to China’s large-scale investments in wind, solar, batteries, and electric vehicles, claiming that China weathered the disruption better than many Asian countries, contrasting this with energy shortages and higher costs faced elsewhere, including in India.

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”.

Malaysia's mixed signals – Malaysia's proposed carbon tax legislation is in its final drafting stage, with the government working to align it with the National Carbon Market Policy and the forthcoming National Climate Change Bill, Deputy Finance Minister Liew Chin Tong told parliament on Wednesday, as reported by New Straits Times. Liew said details including the tax rate, emissions threshold, coverage, and expected revenue have yet to be finalised. In April, the government was considering a delay to introduce the tax, amid the energy disruptions in Southeast Asia caused by the Middle East crisis.

Bankrolled – Vietnam's outstanding green credit loans have reached nearly VND 621 trillion ($24 bln), showing the financial support for the country's low-carbon transition, according to the Ho Chi Minh City Investment and Trade Promotion Center, cited by Saigon News. Tightening carbon emissions standards, traceability, and sustainability requirements in export markets were pushing companies to adopt greener production processes and seek sustainable finance, the report added. Green credit refers to bank lending earmarked for environmentally beneficial projects, such as renewable energy, energy efficiency, emissions reduction, and other low-carbon investments.

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.    

Pulp friction – Indonesia's largest pulp and paper producer APRIL has weakened its no-deforestation policy and added two controversial forestry firms as suppliers, drawing criticism from environmental groups, Mongabay reported last week. It lowered its deforestation cut-off date from 2015 to the end of 2020, allowing it to source wood from PT Industrial Forest Plantation and PT Mayawana Persada, which together lost nearly 80,000 ha of forest between 2015-24, according to the report. APRIL said the change aligns with international standards such as the EU Deforestation Regulation and helps address a fibre shortage after Indonesia revoked permits affecting around 15% of its wood supply. However, a coalition of 23 NGOs said the move undermines the company's sustainability commitments, noting both suppliers continued clearing forests after 2020, including orangutan habitat and peatlands.

Intergovernmental organisation the Global Green Growth Institute (GGGI) signed two memorandums of understanding (MoUs) with Uzbekistan, supporting the country’s sustainable agriculture and energy efficiency efforts under its Paris Agreement targets.

Demand for both removals and reduction credits from companies taking part in a corporate target setting scheme could top 1 billion in 2035, according to forecasts based on a recent update to the programme's rules.

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).

It's a deal - Japanese energy company Eneos will purchase credits from Tokushima Forest Bank's domestic forest projects through a long-term sales agreement. Those J-Credits will be generated through sustainable forest management activities, Eneos said in a statement, without disclosing more details. The energy major also plans to source carbon credits from agricultural projects under the J-Credit programme.

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).

Workers wanted - Australia's Victorian state government has published its Energy Jobs Plan, designed to boost its energy workforce by 50% by 2040. The plan is deemed critical to the state achieving its renewable energy target of 95% of electricity generation by 2035. The government estimates the plan will deliver 68,000 jobs, 37% of which will be in regional Victoria, equating to more than A$18 bln ($12.4 bln) in wages delivered to regional communities. Electricians, plumbers, construction workers, labourers, engineers, mechanics, ICT managers, admin workers, and customer services will be the most in demand jobs, according to the government.

Fossil fuel reliance will not lead to a prosperous future, said New Zealand’s opposition leader on Wednesday, pledging to put renewable energy at the heart of a future Labour government.

Import rules tighten - Singapore’s National Environment Agency (NEA) has extended its Mandatory Energy Labelling Scheme (MELS) and Minimum Energy Performance Standards (MEPS) for regulated goods to include items purchased for end-use, in addition to those imported for sale, it announced. From July 1, buyers of regulated goods such as air-conditioners, refrigerators, clothes dryers, televisions, household water heaters, and three-phase induction motors will be required to register them on a government portal before importing them into Singapore. The country has also banned the advertising of non-compliant regulated goods.

Big battery boom – The Australian government has released the results of the latest Capacity Investment Scheme tender, with 15 energy storage projects, totalling 4.2 GW/16.1 GWh, successfully bidding in the tender across NSW, Queensland, Victoria, and South Australia. These will strengthen grid reliability, the government said, adding that the proposed capacity target of the tender was exceeded by almost five to one, as the country has become a global leader in battery deployment. The projects are expected to unlock some A$6 bln ($4.1 bln) in private investment and A$343 mln in benefits for local communities and Australian industry, it added. At the same time, the government opened the next tender, targeting 4 GW/16 GWh of dispatchable capacity, with bids now open until Aug. 18.

A group of 10 Australians have filed a legal case with the UN claiming the Australian government is violating their human rights by continuing to support companies exporting coal and gas.

Biomass CCU push - Sumitomo Heavy Industries announced on Wednesday that it has been selected to supervise a regional carbon recycling research project, an initiative by Japan’s national research and development agency, NEDO. The project, based in the Shonai region in the Yamagata Prefecture, will focus on formulating a roadmap for a regional "green CO2 cycle" using biomass power plant carbon emissions as feedstock. The region was selected for its concentration of industries including ports, agriculture, and manufacturing, making it suitable for the study's inter-industry collaboration focus. Maeta Concrete Industry, Toho Acetyline, and Summit Sakata Power Corp will contribute research for carbon mineralisation in concrete, carbon capture, and transport. The announcement lists concrete products, liquefied CO2, agriculture and fisheries, and synthetic fuels as potential demand-side categories for the captured carbon.

Turbulent times - Malaysian low-cost carrier AirAsia has fallen behind on some supplier and aircraft lease payments and sought deferrals on more than a dozen planes as soaring jet fuel costs linked to the Iran conflict strain finances, Bloomberg reported. Engine maker Rolls-Royce informed AirAsia that the airline had missed payments under a maintenance agreement, while some lessors granted additional time for rental payments on over 16 aircraft. It shows the pressure building on airlines from elevated fuel costs, a factor that has also weighed on demand for CORSIA-eligible carbon credits.

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.

Renewable energy push – The Asian Development Bank has approved a $63.44 mln financing package to boost the integration of renewable energy into Cambodia’s power system by strengthening grid stability and energy security, and bolstering cross-border power trade. The ADB said on Wednesday that the cash will support the construction of a 250 MW/500 MWh battery energy storage system at the Takeo substation, and is aimed at meeting growing demand from industrial zones, agro-processing facilities, and urban development. As well, it will support power trading with Vietnam, an area of focus for the bank, which last month announced a goal to invest $70 bln in expanding cross-border electricity trading in the region.

Australia's federal government has made an administrative determination on Woodside Energy’s Browse carbon capture and storage (CCS) project, meaning it will be assessed wholly under national environmental laws, while its associated gas development will be open to public comment.

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.

Bangladesh has announced an ambitious goal to generate almost $1 billion through the sale of new carbon credits.