Multilateral development banks (MDBs) provided $163 billion in climate finance in 2025, driven primarily by mitigation efforts in the energy sector, while remaining on track to meet collective 2030 financing targets despite political complexities.

Solar supplied a quarter of EU electricity for the first time in June, becoming the bloc’s largest individual power source during a month of elevated demand and hot weather, according to analysis released on Tuesday.

An intergovernmental organisation dedicated to private and commercial law is launching a 10-week public consultation on draft principles that would provide legislative guidance regarding verified carbon credits (VCCs), it announced on Monday.

Private investment is pouring into the global fusion industry, which is aiming to deliver commercial electricity in the 2030s, according to a report published Monday.

The European Commission has approved a €63 billion French scheme to support eleven offshore wind farms, in one of the largest single state aid packages yet signed off under the EU’s Clean Industrial Deal State Aid Framework (CISAF).

European carbon prices advanced on Monday after the EU completed an auction programme that raised €20 billion to speed its transition away from Russian fossil fuels and confirmed that auction volumes would be cut 20% through to the end of August.

A Kenyan Court of Appeal has given new life to a legal dispute over Kenya Electricity Generating Company's tender for international carbon credits, ruling that it should not have changed the rules of procurement mid-process. 

A financial services provider has partnered with National Parks Partnerships (NPP) and the South Downs National Park to finance one of the UK's largest woodland creation projects through carbon markets, in a move designed to accelerate nature restoration while generating credits.

Benchmark ICE CORSIA Phase 1 futures rebounded above $10 per tonne last week as sources noted the slump down from nearly $20/t since the end of last year may not be as bad as some fear.

German austerity – Germany’s finance ministry is considering diverting €2.7 billion in carbon pricing revenue from the Climate and Transformation Fund (CTF) into the federal core budget as part of austerity plans for 2027, sparking concern among industry and NGOs over future climate spending. The fund, largely financed by CO2 pricing revenues and used for support schemes including heating modernisation and electric mobility, is a key vehicle for Germany’s energy transition. Critics warn the move would undermine trust in emissions trading and climate funding, with utilities, business and steel industry groups calling it a “missed chance” and “warning shot” for industrial transformation support.(Clean Energy Wire)

The European Commission’s executive vice president, Teresa Ribera, on Monday urged governments to clinch a “meaningful agreement” on the IMO’s net zero emissions framework for shipping at a key committee meeting in December, calling on China in particular to move from declarations to delivery on climate action at sea.

The best way for Europe to cut emissions from cement is to reduce and replace the use of clinker and shift to alternatives that already exist, but are locked out of the market, according to a report published on Monday.

Forest fires have overtaken logging as the leading driver of the decline in the world's remaining intact forest landscapes, according to a new analysis of Global Nature Watch data published on Monday.

The UK and EU should establish formal joint governance over future emissions trading reforms to prevent regulatory divergence and preserve industrial competitiveness as the two sides negotiate linking their carbon markets, according to a new report.

Going down - The International Energy Agency (IEA) expects global oil demand to decline in 2026 for the first time since the Covid-19 pandemic, as the conflict involving Iran and disruption to Middle East energy supplies weaken economic activity and reduce fuel consumption, CNBC reports. The agency forecasts demand will fall by around 80,000 bpd this year, reversing its previous expectation of growth. The downgrade follows what the IEA has described as the largest oil supply disruption in history, triggered by the closure of the Strait of Hormuz and attacks on regional energy infrastructure. While supply has begun recovering following a ceasefire, demand remains under pressure from high prices, weaker industrial activity, and measures introduced by governments to curb fuel consumption. The IEA expects oil consumption to recover modestly in 2027 as markets stabilise and production rebounds. The revised outlook contrasts with OPEC's more optimistic long-term demand forecasts but highlights the lasting economic impact of the Middle East conflict, according to the reporting.

The Democratic Republic of the Congo's (DRC) environment minister has pledged to maintain the country's 23-year-old moratorium on new industrial logging concessions, marking a significant reversal after weeks of concern that the government was preparing to reopen vast areas of the Congo Basin to commercial timber operations.

Dumping ground - The EU’s electric car tariffs succeeded in reducing the market share of EVs made in China, according to T&E analysis of the trade measures. But while the share of electric cars produced in China by western brands fell, imports from Chinese brands continued to grow. To avoid Europe becoming a dumping ground for Chinese EVs, T&E called for further trade measures including tariffs on Chinese batteries.

The European Commission has adopted measures to exclude products including leather from the scope of the EU Deforestation Regulation (EUDR) following a hotly contested simplification package presented earlier this year.

UK's clean flexibility progress - The UK government has made progress on its vision for a cleaner, more flexible electricity system in the first year since publishing a roadmap, according to a report published by DESNZ on Monday. In recent months, the government and other bodies have published an Energy Digitalisation Framework, and migrated more than 11.3 mln smart metres to half-hourly settlement, among other steps. The clean flexibility roadmap sets specific, time-bound steps that named organisations can take to unlock more flexible electricity capacity. It also sets up a governance framework to facilitate implementation.

Cookstove consultations – Burn Manufacturing's carbon project arm, ECOA Climate Capital, has invited stakeholders to consultations in Mozambique later this month and early August for planned project activities under its Gold Standard electric cooking programme. Meetings will be held in Maputo, Nampula, and Beira, with online participation also available.

35x35 target – Sourcing 35% of the world’s final energy from electrification would be the “surest and cleanest way” to protect people from high energy prices, COP31 president-designate Murat Kurum recently told Carbon Brief. The incoming COP31 Turkish presidency in June unveiled a proposed electrification target – of 35% by 2035 – as a flagship part of its planned Action Agenda. Scaling electrification in sectors including construction and transport will be key to meeting the 35x35 target, as will rich countries committing funds to support poorer ones, he told the media organisation.

Hydrogen backing – The European Investment Bank (EIB) committed €450 mln to support an Austrian energy company with building a green hydrogen plant, it announced on Monday. The loan, given to energy, fuels, and chemicals company OMV, is the EIB’s largest investment in Austria’s energy sector, according to the bank’s statement. OMV has already begun constructing the plant in Lower Austria’s Bruck an der Leitha with the aim of replacing fossil fuel-based hydrogen. The plant is expected to start operating towards the end of 2027.

Ukrainian politicians have introduced a bill to create a national emissions trading system (ETS) from 2028, in a step that would further integrate the country with the EU, and help to offset the costs of the bloc's border carbon fee. 

A tightening of the EU Emissions Trading System (EU ETS) prompted the bloc's most carbon-intensive companies to reduce emissions without cutting output, while encouraging manufacturers to pursue greener acquisitions as part of their decarbonisation strategies, according to a new study.

Seed round - Swiss carbon removal developer Arrhenius has closed a seed funding round to scale its microalgae-based CO2 removal and biomass storage technology, it announced last week on LinkedIn. The undisclosed funding will support construction of a 500-square-metre pilot plant combining carbon removal with wastewater treatment, as well as preparations for the company’s first commercial facility abroad. Investors included CTA, Young Ventures, and angel investors Thomas Krumbeck and Ralf Wildenhues. The pilot will test the technology under real-world conditions ahead of commercial deployment.

Romania may face electricity supply risks later this decade, but its national assessment likely makes the outlook appear worse than the most probable scenario, the EU energy regulator said in an opinion published last week.

Swiss fall - CO2 emissions from heating fuels decreased by around 5% in 2025 compared with the previous year, down nearly 50% compared with their 1990 level, the Swiss government announced on Monday. The Federal Office of the Environment said the decline is mainly due to greater energy efficiency in buildings, as well as increased use of renewable energy for heating. Emissions from transport fuels decreased by around 1%, with increased electric vehicle uptake and more biofuels lowering the overall total. Overall, they have decreased by 8% compared with 1990. The government said this development is due above all to the growing share of electric vehicles, while the share of biofuels in total and diesel sales also increased, exceeding the 5% mark for the first time (5.3%).

A multi-company partnership for sustainability and a London-based bank have jointly launched a programme to coach high-potential initiatives in the nature-based solutions (NbS) space across the Middle East, North Africa, and Turkiye (MENAT), and Southeast Asia.

The UK government has published the technical rules that importers will use to calculate the embedded emissions of goods covered by the country's Carbon Border Adjustment Mechanism (CBAM), providing greater clarity on how carbon-intensive imports will be assessed when the scheme takes effect.

The European Commission is preparing sweeping changes to EU public purchasing rules that would turn procurement into a driver of decarbonisation, circularity, and energy efficiency, according to a leaked draft of its forthcoming Public Procurement Act seen by Carbon Pulse.

A London‑based financial services platform has taken a “bold” long‑term position on aviation compliance credits, with senior executives saying the firm is structurally long on CORSIA‑eligible units and is leaving most of its exposure to future prices unhedged.

An Icelandic carbon crediting standard has launched a public consultation on proposed revisions to rules governing project development, methodologies, validation, and verification across its programme.

ETS cap plea - Brussels-based industry association Ammonia Europe on Thursday called for the EU to slow the reduction of the EU ETS cap and phase out free allowances more gradually to protect European ammonia production. In its position on the upcoming ETS review, the group also proposed a crisis mechanism to release additional EUAs during sharp price spikes, greater use of ETS revenues for industrial decarbonisation, and stronger support for CCS and CCU. It further backed extending the maritime ETS to vessels of 400-5,000 gross tonnes and directing shipping-related ETS revenues towards alternative fuel infrastructure and projects.