RGGI Allowance (RGA) futures reversed course from their move towards the $45 mark mid-last week as speculators sought to position themselves and overall market activity remained muted, traders said.

Nuclear notice - Maryland-headquartered Constellation Energy announced on Friday it has filed licence renewal applications with the Nuclear Regulatory Commission (NRC) to extend the operations of Ginna Clean Energy Center and Nine Mile Point Unit 1 reactors in upstate New York to 2049. The former facility is a single unit plant that generates 576 MW, while the latter is a dual-unit plant that generates some 1,907 MW.

Heightened federal oversight since 2025 could disrupt the US renewable energy pipeline, putting over $121 billion of investment at risk, according to a new analysis.

AI and Oil – California oil company California Resources Corporation (CRC) wants to build a 100-acre AI data centre in the Elk Hills oil field, 2 hours from Los Angeles. The company says the move to construct controversial data centre’s in already heavily industrialised areas will reduce the usual public backlash over land, water, and electricity demand AI data centre’s require. This announcement comes after CRC recently announced it had already begun successfully injecting carbon back into its own depleted oil reservoirs, signalling that a major oil company is moving away from oil extraction and investing in carbon storage and AI infrastructure. The project marks the launch of California’s first operational carbon capture and storage facility. The Carbon Terra Vault I (CTV I) project is also located at the Elk Hills field in Kern County and has an annual storage capacity of 1.46 mln tonnes of CO2 with total storage reaching a potential 38 mln tonnes. These developments in CRC’s business strategy raise questions about whether building AI infrastructure in heavily industrialised areas will deter decarbonisation efforts, or promote further development for energy purposes.

New Novilla - Asset manager Power Sustainable Infrastructure Credit (PSIC) has closed a $45 mln senior secured financing for US dairy renewable gas developer Novilla RNG, it announced Monday. The financing is expected to support growth capital expenditures, including the construction of two greenfield dairy RNG projects in South Dakota, and advance Novilla's broader development pipeline, PSIC said. Novilla's projects capture methane from dairy operations and convert it into RNG, abating methane emissions and supplying low-carbon fuel to transportation and utility markets.

State decarbonisation fund – The Brazilian state of Espirito Santo is set to begin the first disbursements from its R$900 mln ($173.5 mln) fund for decarbonisation and the energy transition, according to local outlet Capital Reset. Eight projects are currently being assessed by Brazilian bank BTG Pactual, which is acting as the fund’s portfolio manager. The fund was announced during COP29 in Baku in 2024 and was officially launched in Jan. 2026. Through a blended finance structure, part of the initial capital came from the state sovereign fund (Funses), which is mainly financed by oil and gas revenues, including royalties.

Greener homes – The Canadian government will expand its Canada Greener Homes Affordability Program to Quebec, British Columbia, Nova Scotia, and Prince Edward Island, extending a scheme already operating in Manitoba, it announced Monday. The C$500 mln programme, including C$300 mln in federal funding, aims to support more than 35,000 low- and median-income households with free installations of heat pumps, better insulation, improved air sealing, and other energy efficiency upgrades. The government said participating households could cut emissions by around 1.5 tonnes of CO2e per year. It also noted that space and water heating account for more than 96% of building emissions, and households switching from oil heating to electric heat pumps can cut their annual emissions by 2.8 tonnes of CO2e.

CORSIA futures slipped marginally lower last week, with the benchmark now at a little above $9/tonne, while hundreds of carbon projects registered under the Kyoto Protocol’s Clean Development Mechanism (CDM) look set to miss a Tuesday deadline to enable their transition to the new Paris Agreement Crediting Mechanism (PACM).  

A Montreal-headquartered developer has been issued North America's first certified direct air capture (DAC) carbon removal (CDR) credits, setting up the first delivery under long-term purchase agreements extending through 2034.

The vast majority of carbon projects developed under the Kyoto Protocol's Clean Development Mechanism (CDM) are set to miss a Tuesday deadline to enable them to transition to UN crediting under the Paris Agreement, leaving many legacy projects outside the new scheme.

A Brazilian state-controlled lender will support a newly launched Amazon REDD+ carbon credit initiative targeting 5 million hectares under management, annual production of 7.5 mln credits, and around $50 mln in net yearly revenue by 2030.

Chile and Switzerland have authorised a second standalone battery energy storage system (BESS) mitigation activity under Article 6 of the Paris Agreement, expanding the use of carbon finance to support grid-scale energy storage in the South American country.

The UNFCCC’s latest draft procedure for the Article 6.4 mechanism registry sets out requirements for real-time public reporting of registry activity, detailed first-transfer rules, and proposed account fees for the Paris Agreement Crediting Mechanism (PACM).

Shuffling soil - Australian agtech company Loam Bio announced Rob Hranac as its incoming CEO as of July 1, The Australian reported. The company announced that co-founder Guy Hudson would transition from CEO duties to become executive chairman. US-based Hranac was previously the chief operating officer of US company Lithos Carbon and will now helm Laom Bio from there. The NSW company is looking to move into the Brazil market to help farmers retain soil moisture, however Hudson and Hranac told the newspaper they aim to become a publicly listed company.

Farm‑level greenhouse gas accounting methods remain fragmented and require urgent harmonisation efforts, with estimates for the same farm varying by more than 1,000%, a study said.

Indonesia has signed a memorandum of understanding (MoU) with a US-based nonprofit to explore opportunities for reducing emissions from its forests, with a focus on jurisdictional REDD+ approaches.

Clean air clampdown - Sen. Mike Lee (R-UT) introduced legislation on Thursday that would prohibit the EPA from issuing Clean Air Act regulations deemed to exceed congressional intent, including rules restricting internal combustion engine vehicles, requiring power plants to switch fuels, reducing grid reliability, or mandating technologies considered economically or practically infeasible. The bill would also clarify that California Clean Air Act waivers, including those supporting EV mandates, fall within the definition of EPA regulations subject to the proposed limits.

Data centre dive - The US House Science, Space and Technology Committee advanced legislation Thursday that would allow the National Institute of Standards and Technology, in consultation with the DOE, to develop best practices and technical standards for measuring data centre energy and water use, including use tied to AI training, inference, and other compute-intensive processes. The committee approved H.R. 9372 in a 34-1 vote, with Rep. Daniel Webster (R) the only no vote. The bill would also support research into data gaps, forecasting risks, standardised metrics, data-sharing mechanisms, and coordination with federal, state, academic, industry, and international standards groups.

Loosening liability - State and local officials led by California Attorney General Rob Bonta urged congressional Democrats on Monday to reject Republican legislation that would shield oil and gas companies from climate lawsuits seeking compensation for the costs of climate change, E&E News reported. The Stop Climate Shakedowns Act, introduced by Sen. Ted Cruz and Rep. Harriet Hageman, would block more than a dozen state and local cases accusing fossil fuel companies of misleading the public about the risks of burning fossil fuels. In a letter, 21 attorneys general and local officials argued the bill would undermine their authority to use state laws to protect residents, comparing the climate cases to past litigation against opioid, tobacco, and social media companies.

Holding on - State regulators are still incorporating the US EPA’s 2024 carbon standards into permits for new gas plants, even as the Trump administration moves to repeal the rules, E&E News reported. Georgia, Ohio, and Pennsylvania included emissions limits or compliance steps tied to the rule’s first phase, while North Dakota acknowledged the standard applies but delayed setting a numerical limit, citing regulatory uncertainty. The permits show utilities remain exposed to uncertainty over whether the Biden-era rules will be repealed, upheld, or revived through future litigation.