EU member states and the European Commission have condemned this year's host of the international climate talks, Turkiye, for inviting only 26 of the 27 countries of the bloc to the COP31 conference and excluding Cyprus from preparatory climate talks.

The European Commission is preparing a broad overhaul of the EU ETS that would introduce more dynamic controls over allowance supply, recalibrate the market's emissions trajectory, and extend support for industrial decarbonisation, according to a media report citing people familiar with the plans.

MRV momentum - Guyana launched a new digital monitoring, reporting and verification (MRV) system initiative on Wednesday aimed at strengthening GHG emissions tracking across industrial processes and product use (IPPU) and other sectors, as part of efforts to improve transparency and access to climate finance. The project, launched by the Department of Environment and Climate Change with support from the Global Green Growth Institute and the Green Climate Fund Readiness Programme, will establish a national digital platform to streamline emissions data collection, management, and reporting, while improving institutional arrangements, building technical capacity, strengthening cross-sector coordination, and aligning Guyana's reporting with international standards to support its climate commitments and low-carbon development strategy through 2030.

The European Commission will soon publish detailed guidance on certain requirements under its Carbon Border Adjustment Mechanism (CBAM), while working with India to narrow differences between the border levy and the country's upcoming emissions trading, officials said on Thursday.

The clearest route to scaling carbon markets is to penalise emissions using carbon border fees and reward low-carbon intensity products through the use of market instruments such as book-and-claim and environmental attribute certificates (EACs), according to a representative of a global commodities trading house.

Kenya, a regional frontrunner in the race to attract carbon trading, took many in the market by surprise this month when it announced it would limit its Article 6 credit transfers despite already having a big existing project pipeline – in another sign of the uncertainties surrounding Sub-Saharan Africa’s up-and-coming carbon markets.

The Japanese government is placing too great a priority on its domestic carbon market, the GX-ETS, and should expand focus to engage with international credits, a Tokyo-based public-private partnership said at London Climate Action Week (LCAW).

Algeria pledged to reduce its greenhouse gas emissions by 14% below business-as-usual levels by 2035, according to its updated Nationally Determined Contribution (NDC), with the country signalling its intent to use the Paris Agreement’s Article 6 cooperation mechanisms.