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TOP STORY
DATA DIVE: Overall SBTi demand may top 1 bln in 2035, but questions remain over near term CDR prospects
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.
DAILY NEWS TICKER
CP Daily News Ticker: 24 June 2026
The CP Daily News Ticker is a running list of all our news updated in real-time throughout the day. This is also the home to our ‘Bite-sized updates from around the world’, which previously featured in our CP Daily newsletter.
LCAW26
BRIEFING: AI surges to top concern in efforts to stem climate change
AI is the new bugbear for efforts to tackle climate change, fuelling concerns about its surging demand for energy, water, and land – despite the potential benefits it can bring, according to experts.
Voluntary carbon coalition rebrands and launches fellowship
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.
New mechanism to mitigate very long-term project risk launching this year
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.
Financial institutions endorse TFFF ahead of COP17
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.
Global support for fossil fuel treaty high, says Santa Marta report
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.
Governments band together to launch electrification platform
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.
Orsted cuts own power emissions 98%, flags supply chain as next carbon challenge
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).
EMEA
FEATURE: Price or volume? EU weighs options for future ETS Market Stability Reserve
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”.
CBAM verification timeline “excessively tight”, Italy’s accreditation body warns
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).
Euro Markets: EUAs rise 1.5% amid options expiry positioning before easing to post marginal advance
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.
UK set to miss 2030 climate target, warns climate advisory body
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.
PREVIEW: France warns against diluting EU ETS, CO2 emission standards for cars
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 moves to cut red tape on energy labels, with eye on consumer choices ahead of ETS2 launch
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.
EU states back simpler green finance disclosure rules, draw criticism over fossil fuel provisions
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.
Four EU countries call for environmental LIFE programme to be kept in long-term budget
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.
EU’s rigid renewable hydrogen rules could push up emissions, food prices in Poland -think tank
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.
Swedish green steel startup secures $1.6 bln in vote of confidence for struggling sector
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.
Fortum to shut Finland’s last coal power plant in early 2027
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.
AMERICAS
Brazilian Amazon’s protected areas avoided deforestation of 29 mln ha over 40 years -study
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.
Brazil, Mexico receive $500 mln package to accelerate industrial decarbonisation
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.
Chile receives $15 mln from World Bank’s forest carbon programme
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.
US improved grazing project achieves ‘A’ rating
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.
California issues some 13.7K offsets while setting YtD record of new CCO-0s
California regulator ARB reported a slow-down in issuance of new compliance-eligible offsets over the last two weeks, while seeing the largest amount of credits cross the invalidation expiry year-to-date (YtD).
One in five US climate lawsuits now target Trump rollbacks -report
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.
Canadian oil sands emissions intensity falls for 13th straight year -S&P
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.
Seagrass recovery carbon projects could deliver more than $2 trillion longterm -study
Restoring seagrass in coastal habitats could lead to trillions of dollars in carbon credits, US-based researchers said.
ASIA PACIFIC
UNIDO issues call for African JCM projects
The UN Industrial Development Organization (UNIDO) is seeking African projects intended to generate carbon credits through the Tokyo-led Joint Crediting Mechanism (JCM).
Australians file UN case over country’s coal, gas exports
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.
Australia to assess major CCS project under federal environmental laws
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.
Australia’s electricity demand set to double by 2050 as households lead energy transition, grid operator says
Australia is expected to see electricity emissions fall by around 90% by 2050, despite demand doubling and generation tripling, the country’s market operator said in a report published Thursday.
Renewables at heart of future govt, says New Zealand opposition leader
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.
Intergovernmental organisation signs agreements to support Uzbekistan climate goals
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.
South Korean steelmaker to study carbon sequestration potential of biochar in Indonesia
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.
Borneo project targets August listing for biodiversity, carbon tokens
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.
VOLUNTARY
Verra signs over $1 mln AI and workflow software deal
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.
INTERVIEW: New standard body EE looks to revive REDD market with fresh approach
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.
ICVCM launches new guidance for navigating high-integrity carbon markets
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.
Israeli ag tech company issues first verified carbon credits
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.
Carbon ratings provider acquires AI-powered sustainability workflow platform to bolster due diligence tools
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.
INTERNATIONAL
EU, Canada, China drum up support for climate ambition at Brussels ministerial
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.
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