California regulator ARB made its largest issuance of offsets since March, boosting the total sum of mine methane capture (MMC) offset credits to over 1.4 million, according to data released on Wednesday.

The UK's largest biomass power plant - the Drax biomass station - was the country's heaviest emitter for the 11th year running in 2025, with record emissions of 14.1 million tonnes of CO2e, according to analysis by a think tank.

A Mexican state has signed an agreement to assess the development of a jurisdictional forest carbon programme under the Architecture for REDD+ Transactions (ART) TREES standard covering almost 3 million hectares, it announced this week.

The UK government has struck an initial deal to extend the life of an existing nuclear power plant by 20 years, which it says will ensure large volumes of clean electricity and skilled jobs. 

Rate relief and data demand - New Jersey Governor Mikie Sherrill (D) announced on Tuesday the signing of a series of bills intended to provide relief to state ratepayers and ramp up regulation on utility companies and data centres. The governor's office said the three bills will: eliminate unnecessary utility incentives that lead to higher electricity costs; strengthen state oversight of utility infrastructure investments; and ensure large data centre pay their a sufficient share of energy costs instead of shifting them onto ratepayers. Additionally, the administration announced a $25 credit through the Residential Universal Bill Credit (RUBC) programme available to all state ratepayers, as well as an additional $150 credit to lower- to moderate-income families through the Residential Energy Assistance Payment (REAP) programme.

Climate in court - A submission by the London School of Economics' Grantham Research Institute to the UN Special Rapporteur argued that courts have several tools for climate cases, but direct emissions-cutting orders against governments or companies remain rare and difficult to secure due to separation-of-powers concerns, judicial capacity limits, and scientific complexity. The July 8 submission said courts have been more willing to require governments to strengthen climate governance frameworks, improve legislation, and incorporate climate considerations into existing administrative processes such as environmental impact assessments, while business and human rights claims based on duty-of-care and polluter-pays principles may offer a path for corporate accountability and compensation. The submission also said judges need more sustained climate training, while climate lawyers face growing pressure from anti-climate backlash, deregulation, shrinking civic and judicial space, SLAPPs, harassment, and violence.

A substantial increase in prices in the power market for US regional transmission operator PJM pushed RGGI Allowance (RGA) futures prices to levels around $48 on Thursday, market participants told Carbon Pulse.

A climate strategy that scales carbon removal (CDR) alongside rapid emissions cuts could reach net zero CO2 seven years earlier than pathways that prioritise either removals or decarbonisation alone, but would face a major geological storage constraint, according to a recent study.

Spain, Denmark, Finland, Luxembourg, the Netherlands, Portugal, and Sweden on Wednesday called for a stronger EU Emissions Trading System (ETS), including aligning the ETS’ annual emissions cap with the bloc’s 2040 climate goal of reducing net emissions by 90%.

Stop, drop, and coal - Environmental advocacy organisations Environmental Defense Fund, Florida Rising, and Sierra Club asked the US DOE on July 2 to cancel and pause its June 4 order requiring Orlando Utilities Commission to keep the coal-fired Stanton Unit 1 ready to run through Sept. 1, saying the DOE did not prove there was an electricity emergency in Florida, relied on reports that showed the state had enough power reserves, overstepped its authority over a municipal utility, and failed to address the added pollution, health risks, and costs for ratepayers from keeping the coal unit operating.

Seeking public comment - California regulator ARB will hold a virtual public workshop on July 21 to discuss regulatory concepts for California’s Corporate GHG Reporting Program, including Scope 1 and 2 emissions reporting requirements for 2027 and beyond, data assurance, and its proposed approach for Scope 3 reporting beginning in 2027. The programme, established under SB 253 and amended by SB 219, requires US-based companies with more than $1 billion in annual revenue that do business in California to annually disclose Scope 1, 2, and 3 emissions, with first-year Scope 1 and 2 disclosures due in 2026 and Scope 3 reporting required from 2027. ARB also said it has withdrawn its initial fee regulation from final review to make limited clarifying changes, with a 15-day public comment period to follow before resubmission.

The European Parliament on Wednesday blocked a European Commission proposal that would have stripped soy-based biofuels of their renewable status.

The European Commission remains divided over whether to include emissions from departing flights in the EU Emissions Trading System (ETS) as part of the upcoming overhaul of the bloc’s carbon market, an official said Wednesday.

June saw the durable CDR market consolidate as developers digested an announcement from the Science Based Targets initiative's (SBTi) that will see a demand boost in the long term, as monthly contracted tonnes fell to around 350,000 tonnes in deals.

European carbon prices fell sharply on Wednesday as the European Commission announced some details of its reform package that suggested a boost in supply from as early as next year, after earlier having posted modest increases despite US President Donald Trump announcing that the ceasefire with Iran was over.

CHPE challenges - New York's Champlain Hudson Power Express (CHPE), a multibillion-dollar power line from Canada, melted down in the first few days of July, reported the Gothamist. On July 4, the hydropower stopped flowing to New York City from the CHPE amid a heat wave and a storm in the city, and power has not resumed flowing yet while an investigation by Hydro Quebec regarding the reasons for the issue is ongoing. The Canadian company could not provide an estimate when service will be restored, according to the outlet. The CHPE had previously shutdown on July 1 but operations were restored the following day.  

French fossil ad ban – France will enforce a ban on advertising imported fossil fuels by end‑2026, five years after adopting its Climate and Resilience Act, which has remained dormant without a decree. The announcement was made on Tuesday, during the government’s update on its electrification plan. Green groups say the long‑delayed measure is weak and falls short of their proposed Evin-style climate law that would broadly restrict fossil‑linked marketing, including SUVs and air travel. Regulators are also targeting GRDF’s “green gas” biomethane campaigns, warning they blur the line with fossil gas at a time when green gas covers only 3.2% of French consumption. (Le Monde)

Get a job – The Integrity Council for the Voluntary Carbon Market (ICVCM) has launched a call for applications for an Indigenous Peoples or local communities representative from the Asia-Pacific region to join its Governing Board, with a July 24, 2026 deadline. The successful candidate will sit on one of three reserved seats for Indigenous and local community leaders, with full voting rights on decisions shaping ICVCM’s high‑integrity Core Carbon Principles and wider voluntary carbon market governance. ICVCM said it is seeking a trusted regional voice able to represent Indigenous Peoples and local communities impartially, with experience in community‑level carbon projects and promoting inclusion of women, youth, persons with disabilities and other marginalised groups. Details here.

A proposed Kenya land restoration and renewable biomass initiative could advance into carbon project development if a new feasibility assessment finds it technically and commercially viable, a Canada-based carbon offset provider said on Wednesday.

Investment into GHG capture technologies shrunk 49% year-on-year (YoY) in the first six months of 2026, finds a new report.

Comment period extension - Washington's Department of Ecology (ECY) has extended the public comment period for its proposed language on linkage with the California-Quebec carbon market to July 22. The ECY said it's doing so to provide interested parties additional time to review the proposal, in response to requests from interested parties and considering the complexity of the material.

A Singapore-based price assessment platform has linked up with a futures exchange to ease trading hedging risk in carbon markets, it was announced Wednesday.

The European Commission is weighing whether to give international carbon credits a narrow, delayed role in the EU Emissions Trading System (EU ETS) after 2035, as senior officials insist they will not be allowed as standard compliance units for regulated companies.

Australia Lagoon deal approved - Federal Treasurer Jim Chalmers has approved the $100 mln‑plus sale of Tasmania’s largest farm, Rushy Lagoon, to the Tasmanian Natural Asset Trust managed by UK‑based Gresham House. The 22,000-ha property will be converted into pine and timber plantations, generating carbon and biodiversity credits under Australia’s new Nature Repair Market. The deal, backed by CEFC financing, follows the FIRB recommendation despite local opposition, with Chalmers citing 190 jobs and regional economic benefits. Dorset mayor Rhys Beattie said he was “really disappointed”.

Grid solution - UK-based Axle Energy, an energy flexibility platform that turns EV chargers, batteries, and heat pumps into grid-balancing capacity, has raised $25 mln in Series A funding, it announced on Wednesday. The company’s Virtual Power Plant (VPP) platform enables manufacturers, utilities, and fleet operators to connect EV chargers, batteries, and heat pumps to electricity markets. Axle currently coordinates more than 300,000 connected assets and manages more than 2 GW of connected capacity, comparable in scale to a nuclear power plant. The funding will support Axle's expansion across the UK and international markets. Axle estimates there are 75 mln eligible energy assets across Europe and the US, representing around 375 GW of potential capacity.

Great British solar - The UK government has approved the country's second largest solar farm, and its 30th nationally significant clean energy project in the two years under PM Keir Starmer, DESNZ announced on Wednesday. The 50-plus-MW One Earth Solar Farm's developers say the project could power over 200,000 homes a year. Its approval comes a week after the government OK'd the Peartree Hill and Dean Moor solar farms, too. The UK saw its strongest solar deployment on record in 2025, with 269,000 installations, according to recent government data.

EU supervisors should require banks to hold extra capital against fossil fuel and other high-carbon lending, as climate-related financial risks remain underpriced, according to a report released Tuesday.

Norway is seeking public views on whether it should ask to become a part of the EU's incoming ETS2 for road transport and heating fuels.

EU grows cooler - The EU's energy use for cooling has steadily increased in recent years as temperatures have warmed, roughly doubling to 80.4 TJ in 2024, from 40.5 in 2018, according to the European Commission. Energy use for cooling increased every year in that period except in 2020 and 2023. Italy, Spain, and Greece are the biggest energy users for space cooling, although Cyprus and Malta have the highest shares of energy used for cooling in final household consumption.

A Hong Kong-based carbon market platform and financing facility, backed by the Global Carbon Council (GCC), launched on Wednesday with the signing of a memorandum of agreement (MoA) between the parties at IETA’s Asia Climate Summit.

China's experience in finetuning its national ETS, particularly its transition toward absolute caps, could serve as a model for other developing countries, a conference heard Wednesday.

Chile’s Ministry of Environment (MMA) is actively courting REDD+ projects to diversify the portfolio of carbon credits used to offset its CO2 tax – but the low $5 per tonne tax rate can make it economically inviable to integrate them.

South Korea's environment ministry sold all 2.83 million KAU-25 permits on offer at its latest auction at a clearing price of KRW 25,400 ($16.75) each, according to data from the Korea Exchange (KRX).

Indonesia has issued new rules allowing some carbon credits to be traded overseas without government authorisation or corresponding adjustments, while setting out a framework for international standards to operate within the country’s revamped registry system due to be launched later this week.

The European Commission will propose a targeted amendment to the EU Emissions Trading System (ETS) next week that is expected to provide industry with an additional €6 billion worth of free carbon allowances over the 2026-30 period, while outlining other elements of the reform meant to give more leeway for industries to continue emitting into the 2040s, also clarifying that some 400 million permits as part of an 'Investment Booster' will not be monetised.

Germany’s emissions from power and industrial plants covered by the EU ETS fell by 3.2% in 2025, as weaker industrial output and reduced lignite-fired power generation outweighed higher hard coal and gas use, a German government report published Tuesday said.

Two major corporate buyers have agreed to purchase more than 635,000 carbon removals over 10 years from an agroforestry project seeking to restore 6,000 hectares of degraded land in Indonesia’s Sulawesi, the project developer said.

The European Commission is overhauling its pilot auction for industrial heat decarbonisation, after last year's first round drew strong interest on paper but ended up using less than half of its €1 billion budget – a result Brussels now frames as a warning for the future EU Industrial Decarbonisation Bank.

An Australian government-owned climate investor and two asset managers have launched a A$142 million ($98.5 mln) natural capital platform in Tasmania.

A Qatar-based voluntary standard has become the latest body to integrate an industry-led carbon capture and storage (CCS) framework into its crediting programme.

Carbon care - Thailand’s Public Health Ministry is targeting carbon credit revenue from 100 hospitals by the end of 2026 as part of a drive to decarbonise the country’s healthcare system, the government said. The hospitals are expected to gain certification under the Thai Voluntary Emission Reduction programme, with Bang Bo Hospital in Samut Prakan the first to qualify and now preparing to sell credits. The ministry has installed rooftop solar systems at 1,683 hospitals nationwide and is also promoting electric vehicles, greener operating rooms, improved waste management, and sustainable food. It aims to cut healthcare emissions by 25% by 2030 and 50% by 2035, before reaching net zero by 2050, according to Thailand’s Government Public Relations Department.

An Irish native woodland restoration project has entered independent third-party validation under the Origin Xero Carbon Programme, marking another step towards the issuance of what its developer says will be verified domestic carbon credits and highlighting progress in Ireland's nascent voluntary carbon market.

Two tenders have been published for carbon credits under the UN's Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) on behalf of airlines searching for nearly 600,000 tonnes of CO2e. 

Former CSIRO Chief Scientist John Raison has told Climate Minister Chris Bowen that Australia’s new native forest carbon credit method risks undermining the credibility of the ACCU scheme.

Governments should delegate control over carbon pricing to independent climate institutions modelled on central banks in order to insulate long-term emissions policy from electoral cycles and provide greater certainty for investors.

Renewable energy investors’ faith in Australia’s clean energy transition is faltering, according to a survey published Wednesday, citing transmissions buildout delays and impacts on proposed tax reforms among others.

The two registries that will operate the Paris Agreement’s Article 6 mechanism will be operational by the end of this year, the UNFCCC said Tuesday.

SMR export - South Korea, Japan, and the US have agreed to cooperate on the deployment of small modular reactors (SMRs) in international markets, starting with the Indo-Pacific region, the Korean foreign ministry announced Wednesday. It represents opportunities for the three countries, which have complementary advantages in the civil nuclear field, the ministry said in a statement.

Climate researchers have proposed a new way of interpreting the Paris Agreement's commitment to keep global warming "well below 2C", arguing that the widely used practice of expressing the target as a probability of staying below the threshold could gradually weaken climate ambition as scientific uncertainty declines.

Environmental groups in the Democratic Republic of the Congo (DRC) have called on the government to halt its proposed carbon market legislation, warning that the draft law risks undermining existing governance reforms and investor confidence by advancing without sufficient consultation.

An international advisory company and think tank announced on Tuesday a new scenario-based simulation model to help governments designing their own carbon market frameworks.

The Brazilian government has proposed authorising up to 50 million tonnes of CO2e in Internationally Transferred Mitigation Outcomes (ITMOs) for international transfer during 2031-35, according to a draft resolution published on Tuesday.

Despite the rollback of incentives to decarbonise power generation during the recent Trump administration, the US energy sector remains on track to reduce GHG emissions from 2025-35, according to new academic research.