The revised corporate net zero standard from the Science Based Targets initiative (SBTi) could substantially increase demand for voluntary carbon credits over the coming decade, though actual growth is likely to depend on whether companies raise internal carbon prices and voluntarily increase credit purchases ahead of 2035, according to new analysis.

Airlines need to set more stringent near-term emissions reduction pathways and provide greater transparency on their transition plans under the voluntary Science Based Targets initiative (SBTi) in order to close the sector's emissions gap, according to an academic report.

Carbon pricing could play a central role in reducing rapidly rising transport emissions across Central Asia while creating new revenue streams to fund low-carbon infrastructure, according to a new report from the Asian Development Bank (ADB).

One of Australia’s ‘Big Four’ banks on Wednesday signed its largest-ever purchase of Australian Carbon Credit Units (ACCUs), securing around 150,000 credits over five years from an Indigenous-owned carbon project developer.

Uzbekistan has laid the groundwork for Article 6 carbon market participation, but still needs clearer rules on authorisation, corresponding adjustments, registry operations, and monitoring, reporting, and verification (MRV) before it can scale credible international carbon trades, according to a report.

Vietnam Airlines has urged policymakers to prioritise allocating domestic carbon credits to the aviation sector as carriers prepare to meet international climate obligations, a domestic newspaper said.

Odisha can emerge as an early mover in farm carbon markets in India if backed by favourable policies to generate tradable credits while reducing greenhouse gas emissions, a report said, citing the state’s extensive paddy cultivation and the potential of climate‑smart practices.

First issuance  - The Tokyo metropolitan government, having worked on a carbon removal creation programme with startups, has seen the first issuance of carbon credits from forests within the city, it announced Wednesday. In this initial phase, 77 credits have been certified by the Natural Capital Credit Consortium (NCCC). Through continued sustainable forest management, the project is expected to generate a total of 1,725 offset by 2045.

Largest renewable energy business - South Korea's SK Inc, SK Group's holding company, has signed a deal with US investment firm KKR to establish a KRW 2 trillion ($1.3 bln) joint venture for renewable energy development, eyeing growing power demand in the country, they announced. The venture will be South Korea’s largest renewable energy business, with around 1.7 GW of capacity currently in operation and a development pipeline that will bring the total capacity to 10 GW, enough to 100 large-scale, 100 MW-class data centres.

Government backing - An industry alliance led by heavy industry group IHI Corporation this week said their plan to utilise low-carbon ammonia produced in India has secured Japanese government backing through a contract for difference (CfD) scheme. IHI will offtake the ammonia produced by a low-carbon ammonia manufacturing project being jointly developed with India's ACME, and supply it to the seven companies in Japan. Those Japanese companies include a subsidiary of Kobe Steel, Sumitomo Chemical, and Hokkaido Electric Power.  

Technical experts overseeing the Paris Agreement Crediting Mechanism (PACM) have recommended two draft methodologies for approval by the scheme's Supervisory Body, while opening fresh consultations on key implementation tools.

Indonesia wants to build a globally competitive green industrial sector, but the government first needs to tackle emissions from its coal-powered nickel industry and strengthen measurement of industrial emissions, analysts said.

Carbon credits have the potential to become a large source of finance for climate adaptation in emerging economies by attracting private investment into nature-based solutions such as mangrove restoration, wetlands rehabilitation, and agroforestry, according to a new academic study.

Developing a Pacific Regional Climate Change Taxonomy would help improve transparency around climate-related expenditures and strengthen donor trust, said a report.

A former analyst at Aurecon’s recently shuttered carbon offering has launched their own advisory, aiming to support Australian Carbon Credit Unit (ACCU) market participants navigate the sector. 

Biochar drive - The Indian state of Himachal Pradesh projected 28,800 carbon credits over ten years from two biochar plants in the Himalayan state, according to the government. The plants set up under a pact with a university, the Forest Department, and developer ProClime Services buy biomass at INR 2.50 ($0.03) per kg with quality incentives, producing biochar from pine needles, lantana, bamboo, and other plant matter. The initiative spans 50,000 ha, manages 13.5 mt of CO2, and supports soil health, biodiversity, and farm resilience, the press release said.

India is preparing to launch a scheme to promote the adoption of clean technologies in steelmaking processes, with an outlay of INR 50 billion ($528 million), according to the national news agency.

SAF momentum – US-based engineering consultant KBR has secured a technology licensing and front-end engineering design (FEED) contract for what could potentially be Asia’s first commercial-scale ethanol to jet sustainable aviation fuel (SAF) facility in Singapore, it announced Monday. The project was launched in January by Singapore’s Keppel Infrastructure Division and Aster Chemicals. KBR will work to establish the plant’s technical design, cost estimates, and execution plan, based on its PureSAF technology. If approved and financed, the plant is estimated to produce up to 100,000 t of SAF annually.

Alignment - Indonesia's Forestry Ministry and the Forest Stewardship Council (FSC) signed an agreement this week to align the Southeast Asian country's mandatory Timber Legality and Sustainability Assurance System (SVLK) with the FSC's voluntary certification scheme through a combined audit mechanism, EcoBiz Asia reported. The partnership aims to reduce duplicate audits, lower compliance costs, and improve efficiency. The move is intended to improve international market access for Indonesian timber products.

Sharing sunshine –  Australia has introduced its Solar Sharer Offer, a regulated energy plan that provides three hours of free power during the middle of each day, when solar generation usually peaks, it announced. The offer is available to residential customers that live in New South Wales, South Australia, or South East Queensland, have a smart metre installed, and are either renters or homeowners. The government highlighted households should shift some of their energy use to the free power window, usually from 1100-1400 in NSW and Queensland, and 1200-1500 in South Australia.

An ASX-listed chemical and explosives manufacturer has greenlit its commercial-scale green hydrogen project tied to a Safeguard Mechanism facility, it announced on Wednesday.

New Zealand’s Ombudsman has found that the Prime Minister’s office acted unreasonably in its response to an Official Information Act request relating to a long-running climate lawsuit, upholding an NGO complaint over the matter. 

Solar scale up – The Asian Development Bank (ADB) has approved a $160-mln loan for Bhutan, to support the deployment of at least 310 MW of new solar capacity and leverage private investment in the South Asian country’s first PPP for energy. The new capacity is split across three projects, one of 150 MW, one of 120 MW, and the final of 40 MW. Tata Renewable Energy is partnering with the state-owned Druk Green Power Corporation on the 150 MW Dramthang solar development, ADB said. Bhutan relies almost entirely on hydropower at present, the bank said, but is keen to install 5 GW of solar capacity by 2040.

Forest fee falls – Reduced fees for NZ ETS forests have taken effect, the Ministry for Primary Industries said on Wednesday. The annual charge has been reduced to NZ$10.28 ($5.82) per ha, from NZ$14.90. As well, the annual fee for mature forests will be 45% of the annual fee for two mandatory emissions return periods, and then be waived. New service fees also take effect as of Wednesday, with further changes kicking in from Jan. 1, 2027.

Southeast Asia could generate up to $8.5 billion over the next decade by supplying carbon credits under the UN's Carbon Offsetting and Reduction Scheme for International Aviation, provided governments speed up approvals necessary to bring more projects online, according to a report released on Wednesday.

A planned $6 million buyout of a portfolio of offset projects has collapsed after the purchaser opted not to make the required closing payment by the contractual deadline, leaving the original agreement in place and setting the stage for potential legal action, according to a company announcement late Tuesday.