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TOP STORY
Groups refuse to budge on CO2 levy for shipping at IMO climate talks
There was little sign of a rapprochement between the countries supporting a greenhouse gas (GHG) levy for the shipping sector and those opposing such a measure during talks at the UN’s International Maritime Organization (IMO) this week, with all eyes now on an crucial April meeting.
AMERICAS
California lawmaker moves to extend state’s cap-and-trade scheme beyond 2030
A California legislator has formalised intent to reauthorise the state’s cap-and-trade programme ahead of the Friday deadline for 2025 bill introductions.
BRIEFING: California’s ETS reauthorisation hinges on predictable carbon price outcomes, not cutting emissions -panellists
Clarifying goals for disbursing California’s cap-and-trade auction funds, mitigating impacts of higher allowance prices, and addressing affordability concerns were strategies to secure legislative reauthorisation and programme extension post 2030 rather than focusing on an emissions cap, panellists discussed on a webinar Thursday.
US appeals court agrees to pause lawsuits challenging EPA power plant rules
A US appeals court agreed to the US EPA’s request to pause litigation around the agency’s controversial power plant standards set by the prior administration to allow the new agency time to review the case.
Brazil’s Para takes step forward in J-REDD+ deal with receipt of FPIC plans
The state of Para in Brazil has progressed in its plans to deliver on a $180 million jurisdictional REDD+ (J-REDD) deal, receiving plans from Indigenous peoples and traditional communities on securing ‘free, prior, and informed consent’ (FPIC) after protracted controversy over FPIC.
CFTC: Investors boost CCA holdings again ahead of Q1 auction but pull back in RGGI, LCFS
Financial players continued to add to their net length in California Carbon Allowances (CCAs) leading up to the Q1 auction, but reduced their exposure in the RGGI and Low Carbon Fuel Standard (LCFS) markets, according to latest figures from the US Commodity Futures Trading Commission (CFTC) released Friday.
California lawmaker proposes $80 mln in-state CDR purchase programme
A California state senator proposed a bill that would invest $80 million in the purchase of carbon dioxide removal (CDR) credits from in-state projects.
California lawmakers propose committee to review ACF exemption decisions
California senators have introduced a bill to create a committee that would review appeals from entities denied exemptions or time extensions from the state’s Advanced Clean Fleets (ACF) requirements.
California looks to regulate fashion industry’s Scope 1-3 emissions
A California assemblymember has introduced legislation aimed at regulating the environmental practices of fashion sellers in the state, requiring companies to implement comprehensive environmental due diligence.
California diesel, gasoline sales and emissions dwindle in November
California diesel consumption in November fell to the second lowest level thus far in 2024, while gasoline volumes dropped month-over-month (MoM) even as retail gas prices continued to decline, state data published this week showed.
BRIEFING: Oregon considers delay to select 2025 clean truck rules
Oregon regulators discussed a delay in mandating nitrogen oxide (NOx) reductions for heavy-duty vehicles in its first of three rulemaking advisory committee meetings hosted by the state’s Department of Environmental Quality (DEQ) Friday.
US biochar asphalt company under threat after reporting $16 mln deficit
A US biochar producer specialising in road construction and building materials signalled in a Q4 2024 filing that it is suffering recurring losses amounting to nearly $16 million that threaten its ability to continue operations.
US-based ag-tech firm raises $4.5 mln to expand biochar production, carbon credit sales
A US-based ag-tech company has secured $4.5 million in funding to expand its biochar production and introduce carbon credit sales, aiming to enhance soil health and carbon sequestration.
ASIA PACIFIC
ANALYSIS: Could energy protectionism and technical capacity hamper Indonesia’s great CCS hopes?
A major energy firm pressing go on a combined LNG and carbon capture and storage (CCS) project in Indonesia has boosted confidence in the country’s hope to become a regional CO2 storage hub, but the new government’s protectionist rhetoric around energy could stymie much-needed international investment and expertise in the space.
CN Markets: CEAs dip towards 90 yuan mark, CCERs move up amid shrinking supply
Permit prices in China’s national emissions market continued to fall over the past week amid slow compliance demand, while the voluntary market saw offset prices at relatively high levels, though with near-zero liquidity due to the lack of supply.
South Korea targets 70% carbon-free electricity by 2038
South Korea plans to generate more than 70% of its electricity from carbon-free sources by 2038, according to its latest basic energy policy that will guide the development of power generation sectors in coming years.
South Korea strengthens support for SMEs to grapple with CBAM
South Korea has issued a public call exclusively for domestic small and medium-sized enterprises (SMEs) to help them meet emissions reporting and verification requirements, as the implementation of the EU’s carbon border adjustment mechanism (CBAM) draws near.
Long wait for Australian methane emissions reporting fix
The emissions reporting issues underlying the generation of Safeguard Mechanism Credits (SMCs) will likely remain unresolved for some time, with an expert panel not due to finalise their work until June 2027, according to a terms of reference published Friday.
New Zealand confirms CCS for ETS this year
New Zealand is on the path to allowing carbon capture and storage (CCS) as an emissions reduction method, the government said Friday, and have stored CO2 recognised and rewarded in its emissions trading scheme (ETS).
Norway, Indonesia extend climate forest partnership to 2030
Norway and Indonesia’s governments have extended their memorandum of understanding (MoU) on climate and forestry cooperation to 2030, they announced.
EMEA
More pragmatic, market-led approach to climate action seen after Germany’s Merz, conservatives win election
A more pragmatic, market-led approach to climate action is expected in Germany – and the EU – after Friedrich Merz and the centre-right CDU/CSU appeared to win the federal election on Sunday.
Merz EU ally in Brussels speaks out on climate ahead of German election
Germany’s climate policy objectives would not change radically under a centre-right government led by CDU frontrunner Friedrich Merz, although he is still noncommittal on the country’s coal exit, according to German MEP Peter Liese, a veteran centre-right lawmaker in the European Parliament.
CO2 emissions from war in Ukraine surpass 200 mln tonnes, finds report
Russia’s invasion of Ukraine has generated nearly 230 million tonnes of CO2 equivalent since the war began on Feb. 24, 2022 – equivalent to the annual emissions of Austria, Hungary, Czechia, and Slovakia combined – according to a report published Monday.
UK govt consults on ways to improve subsidy scheme to speed up clean energy rollout
The UK government has launched a consultation on ways to improve the country’s flagship contracts for difference (CfD) subsidy scheme, including the potential relaxation of planning consent for offshore wind, in a bid to accelerate clean energy rollout.
Addressing uncertainty, closing funding gap key to scaling EU carbon capture, finds report
Tackling regulatory barriers, improving financial incentives, and ensuring effective carbon accounting mechanisms is key to scaling carbon capture and utilisation (CCU) technology in the EU, according to a report released on Thursday.
UK bank warns Scope 3 data is too vague to set targets
A major UK bank has warned Scope 3 emissions data is insufficient to include setting targets for companies it invests in, and added there was a risk of double counting.
Euro Markets: EUAs snap losing streak with technical bounce but post 7.3% weekly loss
European carbon allowance prices headed into the weekend with a technical bounce after having fallen near key support levels on Thursday, posting a 1.7% daily gain as traders covered short positions after the steep decline over the last few days, while UKAs made a late recovery after having earlier lost as much as 17% since last Friday.
INTERNATIONAL
Singapore Article 6 tender attracts offers worth nearly $1 bln
Singapore’s government has closed its request for proposal (RFP) to procure high-quality, correspondingly adjusted carbon credits derived from nature-based solutions (NBS), attracting offers from 17 suppliers, including major global traders and carbon project developers.
Green Climate Fund board approves over $680 mln for 11 projects globally
The board of the Green Climate Fund (GCF) this week approved some $687 million for investment in 11 projects across 42 countries that are expected to mitigate 45.3 million tonnes of CO2e, it said Friday.
World governments need to “calm down” and downsize delegations, says COP30 secretary
Belem, Brazil will definitely host the COP30 UN climate conference in November, the COP30 secretary told Brazilian journalists on Wednesday, but countries need to “calm down” and send fewer delegates.
VOLUNTARY
Protected, Indigenous lands in the Amazon experience concentrated deforestation in some states -study
A Brazilian conservation think tank has found that deforestation and degradation in the Legal Amazon increased substantially year-on-year (YoY) in January, highlighting that protected and Indigenous lands experience concentrated risks in some states.
Scientists develop low-cost, scalable method to accelerate enhanced weathering CDR
Scientists have developed a low-cost, scalable method to significantly enhance CO2 removal (CDR) from the atmosphere through enhanced weathering (EW), offering a more viable alternative to existing direct air capture (DAC) technologies.
INTERVIEW: Reintroducing soil fungal biodiversity can drive 30% biomass gain in reforestation projects
A biotech company has demonstrated an average 30% gain in biomass of reforestation projects in the southeastern US by reintroducing soil fungal biodiversity, which it says can accelerate tree growth and carbon removal.
BIODIVERSITY (FREE TO READ)
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INTERVIEW: EU biodiversity agenda jeopardised by poor enforcement of nature bills
The poor enforcement of existing regulations on nature could derail the EU’s biodiversity agenda, as disparities in implementation across member states and sectors remain largely unresolved, the head of EU policy at an environmental NGO told Carbon Pulse.
Earth observation data provider acquires forest analytics platform
A Canada-headquartered provider of Earth observation data announced on Thursday it has acquired a wildfire and forest analytics platform to help clients improve environmental risk monitoring and management.
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EVENTS
Carbon Removal Day – Feb. 27, Ottawa – Carbon Removal Canada invites you to Policy to Progress: Carbon Removal Day 2025, a conference dedicated to exploring the opportunities and challenges in advancing Canada’s carbon removal sector. Join us to discuss current solutions in action, how we can continue to drive innovation, and create the conditions for scaling carbon removal technologies. Register
Carbon Forward Asia – Mar. 4-5, Singapore – Our third annual Asian conference will once again be held in Singapore. Like at our past events, we’re excited to bring together experts from Asia Pacific to talk ASEAN markets, regional opportunities, developments in local and global carbon pricing, and all the topics you need to hear about across a stimulating two days. Register
EVision 2025 – Mar. 5-6, Brussels – An energy system transitioning to net zero requires more flexibility. Electric vehicles can be a great source of flexibility for Europe’s energy system, but their potential remains largely untapped today. Eurelectric together with EY will quantify EVs potential, benefits to the power sector and costs savings for consumers at EVision 2025: power sector accelerating e-mobility at Autoworld. Register
North American Carbon World (NACW) – Mar. 25-27, Los Angeles – The annual NACW conference addresses the most pressing issues in climate policy and carbon markets to the largest gathering of climate professionals in North America. NACW 2025 will dive into major new policies and developments that will shape and scale carbon markets and climate solutions with integrity and ambition. In addition to outstanding speakers, discussions, and insights, NACW provides premier networking opportunities with an active and engaged audience of carbon professionals. Join us for the content, community, and connections for successfully navigating the low-carbon landscape and advancing market-based climate solutions. www.nacwconference.com
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BITE-SIZED UPDATES FROM AROUND THE WORLD
INTERNATIONAL
EU-Japan – The 2nd high-level dialogue on climate change between Japan and the EU was held in Tokyo on Feb. 18, the European Commission said on Thursday. “Both sides reaffirmed their commitment to cooperate internationally under the Paris Agreement and promote climate action to keep the 1.5C goal within reach, regardless of the changing international situation, including the announcement of the US withdrawal from the Paris Agreement,” the Commission said in a statement. The two sides also agreed to cooperate to make COP30 a success and to promote global decarbonisation initiatives at the G7 and G20. Japan and the EU also “exchanged views on areas of cooperation on climate policy” including carbon pricing, the EU’s CBAM, decarbonisation technologies, sustainable and transition finance, as well as satellite utilisation.
EMEA
Earthquake moment – Britain’s steel industry has warned that government plans to phase out free carbon allowances under the UK ETS from 2027 could result in more than £150 mln in annual costs, rising to £167 mln by 2037. UK Steel, the industry’s trade body, described the move as an “earthquake moment” for the sector, stressing the financial impact on manufacturers even as they transition to lower-emission electric arc furnaces. The government is consulting on the phaseout as part of introducing a CBAM to protect UK industries from cheaper imports from regions with lower carbon costs. The consultation closes on Mar. 10. While the industry acknowledges the need to reduce emissions in line with the UK’s 2050 net zero target, it warns that an abrupt removal of free allowances could undermine competitiveness. Tata Steel UK, which shut its blast furnaces at Port Talbot last year in favour of an electric arc furnace with £500 mln in government support, has already begun transitioning. British Steel, which still operates the UK’s last two blast furnaces, is in talks with the government over potential funding for two smaller electric arc furnaces at its Scunthorpe site. However, trade unions are urging the government to provide financial relief to keep the blast furnaces running during the transition. Despite emissions reductions from switching to electric furnaces, UK Steel warned that carbon-intensive processes such as rolling and reheating would still contribute significantly. The industry supports phasing out free allowances but insists it must be managed carefully to avoid economic disruption. Concerns remain over whether the proposed CBAM will adequately shield UK steelmakers from unfair competition. The government has pledged up to £2.5 bln to support the steel sector and reassured that it will “not allow the end of steelmaking in the UK”. It argues that the CBAM will level the playing field by ensuring importers face equivalent carbon costs, providing long-term stability for domestic producers. (FT)
Tough questions – A promised £8.3 bln funding package for the UK’s nascent state-owned company GB Energy is under question as the finance ministry considers what to include in its multi year spending plan due in June, according to Bloomberg. The government has touted GB Energy as a crucial tool to give the public a direct stake in the transition to renewable energy while also creating jobs and building supply chains in the country. But since its launch in July, the government venture has been slow to define what exactly its role will be and how it will make money for taxpayers as promised. The British finance ministry declined to confirm that the government was still committed to spending the £8.3 bln that Labour promised during the election, when asked by Bloomberg.
No gas, no problem – BMW has introduced its first hydrogen-powered trucks as part of a pilot demonstration under the European H2Haul project. The trial will feature two IVECO S-eWay Fuel Cell trucks operating in Germany between Leipzig, Landsberg, and Nuremberg to assess the practicality of hydrogen mobility in freight transport. To support the initiative, hydrogen refuelling stations are being constructed in Leipzig and Hormersdorf for rapid refuelling and large-scale hydrogen use. Funded by the Clean Hydrogen Partnership, the H2Haul project aims to develop hydrogen infrastructure across Europe and validate the technology’s road safety and efficiency. BMW also plans to launch its first hydrogen car in 2028.
Dutch cuts – The Netherlands will stop all development aid for women’s rights, gender equality, professional and higher education, sport and culture, to help deliver €2.4 bln in annual development aid savings from 2027. It also intends to cut back on climate, civil society and multilateral cooperation spend. All Dutch development aid must from now on be in the Dutch national interest, said Reinette Klever, minister for foreign trade and development cooperation, on Thursday. She hails from the populist rightwing PVV party that came first in the last Dutch elections in Nov. 2023. The 3.8 bln in development aid that will remain will go towards trade and economy; safety and stability in West Africa, the Horn of Africa, the Middle East and North Africa; and migration. Klever also wants to work more with local rather than big, international NGOs. (NOS)
Egypt chugs along – Mohamed Farid, chairman of Egypt’s Financial Regulatory Authority, has stated that about 21 carbon projects are registered in Egypt’s regulated voluntary carbon market (VCM) portal. This involves 145,000 tCO2 in potential carbon credits spanning a number of sectors, he said – chief among them, agriculture (Al Ahram). However, the market has had low trading volumes, seeing just a few thousand credits change hands since the VCM’s launch in Aug. 2024. Carbon Pulse understands that drumming up demand is a key priority for Egypt’s VCM agencies.
Standing by net zero – British bank Standard Chartered pledged on Friday to cut emissions linked to its oil and gas bond sales by 26.9% by 2030, while announcing an 18% annual profit jump and a $1.5 bln share buyback, Reuters reported. Standard Chartered CEO Bill Winters told analysts the bank remained committed to reaching net-zero by mid-century and that clients were not slowing efforts to decarbonise. The bank, which focuses on developing countries, will continue to help fossil fuel producers to raise funding but has also published its first transition plan, detailing progress to net zero and how it will help clients do the same.
Upscaling – Montenegro has published its updated Nationally Determined Contribution (NDC), which sets more ambitious climate targets, aiming for a 55% reduction in net greenhouse gas emissions by 2030 and a 60% reduction by 2035 compared to 1990 levels. This update marks a significant increase in ambition from the previous target of a 35% reduction by 2030. The revised NDC now includes all sectors of the national greenhouse gas inventory, incorporating the Land Use, Land Use Change, and Forestry sector for the first time. Montenegro has also adopted a multi-year target framework, dividing its emission reduction plan into two implementation periods: 2025 to 2030 and 2031 to 2035. This approach ensures a structured and gradual reduction in emissions over time, the country said in its submission. The updated NDC aligns with Montenegro’s goal of European Union accession, it added.
ASIA PACIFIC
Scale back – South Korea has scaled back its ambitions for nuclear power following the impeachment of President Yoon Suk Yeol, a proponent of atomic energy, as the opposition party has gained greater influence over the country’s long-term energy policy, according to Bloomberg. The East Asian nation expects to add a total of 3.5 GW of nuclear capacity by 2038, down from the 4.9 GW proposed in a draft proposal, according to a government plan finalised Friday. South Korea now aims to generate more than 70% of its electricity from carbon-free sources by 2038.
ByWill + Osaka – Japan’s ByWill has signed a collaboration agreement with Osaka City to support the “Zero Carbon Osaka” initiative, aiming for carbon neutrality by 2050. This marks ByWill’s first partnership with a government-designated city. The agreement focuses on creating and distributing J-Credits through LED and solar power generation, fostering both environmental and economic benefits. Key areas of cooperation include sharing information and services on environmental values, developing a decarbonised management model, and reducing GHG emissions. Osaka City aims to cut emissions by 50% by 2030 (compared to 2013 levels) under its “Global Warming Countermeasures Plan”. Through this partnership, ByWill will facilitate the sale of J-Credits – representing CO2 reductions from energy-saving and renewable energy projects – returning profits to local businesses based on their sustainability efforts. Osaka City will promote awareness and case studies of the J-Credit system, with the initiative expected to serve as a model for other municipalities and private businesses in the region.
Deeper ties – Indonesia aims to strengthen its partnership with Japan to advance the energy transition through collaborations under the Tokyo-led Asia Zero Emission Community (AZEC), the Indonesian economic affairs ministry said in a statement Saturday. Coordinating Minister for Economic Affairs Airlangga Hartanto last week discussed the development of AZEC and energy transition projects with the ambassador for the AZEC promotion Takio Yamada as well as representatives of the Japan Bank for International Cooperation (JBIC). Airlangga welcomed the AZEC initiative and encouraged the implementation of the projects that had been carried out, highlighting cooperation on the power grid transmission and the development of aviation fuel generated from palm oil.
AMERICAS
Climate cliffhanger – US EPA Administrator Lee Zeldin has informed the White House of his position on whether to uphold or abandon the agency’s authority to regulate climate pollution but has not disclosed the decision to the public, E&E News reported. In response to inquiries, the EPA stated it is “in compliance” with President Trump’s directive to review the 2009 Endangerment Finding, which forms the legal basis for US climate regulations. The agency met the president’s deadline to submit recommendations in coordination with the Energy and Interior departments, but there is no requirement to release them publicly. The EPA has not indicated if or when it will make the findings available.
Tax credit tussle – The US hydrogen industry is advocating for the continuation of the Section 45V tax credit for clean hydrogen production, citing its role in energy development, economic growth, and national security. In a letter to congressional leaders, including Senate Majority Leader John Thune (R) and House Speaker Mike Johnson (R), over 60 trade associations and businesses stated that the credit is necessary to attract investment, create jobs, and maintain US competitiveness in the global hydrogen market. The letter argues that delays in regulatory guidance under the Biden administration have hindered private-sector investment and warns that removing the credit could shift jobs and projects abroad. The industry also emphasised hydrogen’s potential to utilise domestic energy resources such as natural gas, biogas, and nuclear power while reducing dependence on foreign energy sources.
Green fund fallout – The US EPA has placed David Widawsky, a long-time career employee overseeing the Greenhouse Gas Reduction Fund, on administrative leave, E&E News reported. Widawsky, a 27-year EPA veteran who previously worked in the agency’s chemicals office, was placed on leave Wednesday. The agency confirmed the action but did not provide a reason. The move comes as the Trump administration increases scrutiny of the $20 bln grant programme established under the IRA, with EPA Administrator Lee Zeldin recently criticising the fund. No other employees in the Greenhouse Gas Reduction Fund office have been placed on leave.
No change – Archer Daniels Midland (ADM) has reaffirmed its climate commitments despite the relaxation of environmental regulations under Donald Trump. Ismael Roig, ADM’s president for Europe, the Middle East and Africa, told the FT that the company would not follow the trend of US firms scaling back sustainability targets, emphasising the long-term importance of addressing climate change. Roig highlighted a growing divide between US and European businesses, noting that while some American companies, including Walmart and financial institutions, have weakened their environmental goals, European firms have remained committed. Meanwhile, companies such as General Motors, Ikea, and Rio Tinto have recently reinforced their green targets. The agrifood sector, responsible for up to 37% of global emissions, has been significantly impacted by Trump’s environmental policy rollbacks, including the withdrawal from the Paris Agreement and cuts to sustainable agriculture funding. The EPA is also reassessing regulations that could lead to looser oversight of methane emissions and agribusiness sustainability requirements. ADM is focusing on regenerative agriculture to meet its climate goals, having committed over $30 mln to projects that have converted 3 mln acres to sustainable practices, preventing 500,000 tonnes of CO2 emissions annually. The company now aims to expand this to 5 mln acres. Despite its sustainability efforts, ADM recently announced 700 job cuts following a 48% drop in annual profits, driven by falling corn, soybean, and wheat prices.
Doubling down on DAC – Occidental Petroleum, which has positioned itself as a climate tech leader, is doubling down on carbon capture as a key tool for fossil fuel production, President and CEO Vicki Hollub said on the firm’s earnings call last week. The company, which acquired Carbon Engineering in 2023, is developing large-scale direct air capture (DAC) facilities in Texas through its subsidiary 1PointFive, with backing from the Biden administration and major corporations like Microsoft and Amazon. However, Oxy’s approach raises concerns. DAC technology removes CO2 from the atmosphere, but instead of solely sequestering it underground to mitigate climate change, Occidental sees it as a means to enhance oil recovery. Hollub emphasised that captured CO2 could unlock 50 to 70 bln barrels of oil, likening its impact to the shale revolution. She also stated that President Trump understands the business case for DAC and that she has had discussions with him about it. The cost of DAC remains high, and its future may depend on whether the Trump administration maintains Biden-era tax credits. Occidental’s first large DAC plant, Stratos, is set to launch this year, with a bigger project at King Ranch also receiving federal support. While Microsoft and Amazon have committed to purchasing carbon removal services with stipulations against using the CO2 for oil production, the viability of DAC remains uncertain. (The Verge)
Concrete plans – Holcim, a global building materials manufacturer, announced that its North American business will be renamed Amrize following its planned spin-off, positioning it as a leading independent building solutions company. Jan Jenisch, chairman of Holcim and designated chairman and CEO of Amrize, described the move as a strategic step to capitalise on North America’s infrastructure modernisation and manufacturing expansion. Amrize plans to list its shares on the New York Stock Exchange as AMRZ and the SIX Swiss Exchange, with the spin-off expected to be completed by mid-2025, pending approvals. The business will continue to operate under Holcim until then.
Defrosted funds – The EPA has lifted the freeze on all its climate grants, except for the Greenhouse Gas Reduction Fund (GGRF). As of Thursday afternoon, recipients of other EPA grant programmes under the 2022 IRA, as well as an infrastructure grant programme for clean school buses, confirmed they could access federal funds. These programmes had been on hold since Jan. 28 for an agency review. However, two of the three programmes under the GGRF were not affected by the freeze, with funds remaining in designated Citibank accounts. (E&E News)
Payments plow ahead – The US Department of Agriculture (USDA) announced the release of approximately $20 mln in paused IRA funding for agricultural programmes, including the Environmental Quality Incentive Program, the Conservation Stewardship Program, and the Agricultural Conservation Easement Program. USDA Secretary Brooke Rollins stated that the funding will honor existing contracts with farmers and ranchers while the department continues reviewing broader IRA allocations. Rollins cited concerns over previous funding allocations under the Biden administration, stating that some funds were directed to non-agriculture-related programmes. USDA indicated that additional funding decisions will be announced as the review continues to ensure taxpayer funds are directed toward agricultural initiatives.
Net zero no more – The Net-Zero Banking Alliance (NZBA) is considering changes to its membership terms, potentially removing the requirement for banks to align their portfolios with the 1.5C global warming target, Bloomberg reported. The alliance, which has seen significant departures from major US and Canadian banks following the Trump administration’s stance on climate policies, is undergoing a strategic review. A spokesperson stated that NZBA was designed to adapt to “changing conditions”. The alliance, which once represented over 40% of global banking assets, has faced setbacks with exits from Goldman Sachs, JPMorgan Chase, and several Canadian banks. NZBA has informed members that it is exploring a “next phase” to provide continued value and support for banks’ individual climate strategies.
Carbon catch match – Pall Corporation, a provider of filtration and purification solutions, and MTR Carbon Capture, which specialises in membrane-based carbon capture systems, announced a collaboration to advance carbon capture technology. The partnership integrates Pall’s flue gas filtration and coalescer technology with MTR’s Polaris membrane system, and seeks to offer a modular and scalable solution for emission-intensive industries such as cement, steel, and waste-to-energy. The collaboration aims to enhance the efficiency of carbon capture by removing contaminants, extending membrane lifespan, and optimising system performance. The companies will work with industry stakeholders, including EPC firms and regulatory agencies, to support the adoption of decarbonisation solutions.
Brazilian partners – Petrobras has signed two credit notes totalling $1.1 bln and a memorandum of understanding (MoU) with Banco do Brasil (BB) aiming to fund and promote initiatives related to sustainability and energy transition. The two also announced the renewal of the revolving credit facility worth R$2 bln (about $350 mln), originally maturing in 2026, which has now been extended to 2030. The Brazilian energy giant is partnership with the Brazil bank on planning and resource application to promote biodiversity, biofuels, renewable energy, efficiency, and energy transition. An external consultancy firm is set to evaluate compliance with these commitments every year. The partnership will support the bank in its goal to achieve net zero for its financed portfolio emissions by 2050, and it also seeks to expand its presence in Brazil’s carbon market, focusing on Brazilian biomes. (Offshore Energy)
Baby steps – The Brazilian state of Santa Catarina has taken early steps towards inserting itself in the jurisdictional carbon market. Under a technical cooperation agreement, the State Secretariat for the Environment and Green Economy has partnered with municipalities to bring together specialised institutions and study inclusion in the carbon market, according to a press release. Next steps in the process include expanding environmental data collection, analysis of the current legal framework, and modelling of the carbon market in the state.
VOLUNTARY
Britain’s biggest matchmaker – Auto Trader, the UK’s largest automotive marketplace, has partnered with The Carbon Removers to purchase permanent biogenic carbon removal credits, reinforcing its commitment to sustainability through its “Putting the Brakes on Carbon” strategy. Facilitated with support from Abatable, the credits represent biogenic CO₂ captured and stored in aggregates used for road and building construction. No further details were provided. This approach aligns with Auto Trader’s sustainability goals while aiding the development of scalable carbon removal technologies. The partnership also contributes to the expansion of engineered CDR solutions, including large-scale projects like geological CO₂ storage in Denmark. Key benefits include supporting biogenic carbon removal innovation, embedding CO2 into construction materials, and advancing large-scale sequestration efforts.
Expert call – Gold Standard is seeking an organisation to assess and approve insurance policies that address risks like double counting between CORSIA and Nationally Determined Contributions (NDCs) under the Paris Agreement. Key responsibilities will be to assess insurance policies against compliance criteria, including policy term, security rating, and indemnity provisions. Manage transparent processes for applications, re-assessments, and appeals. Provide public information on approved policies and engage with insurance providers. Finally, collaborate with Gold Standard to refine criteria and improve processes. The deadline to apply is Mar. 25.
Batteries now included – Riverse has unveiled a new offset methodology for battery second life, supporting projects that refurbish and regenerate used batteries to extend their lifespan, reduce hazardous waste, and avoid the production of new batteries. The methodology applies to various battery types, including those used in electric vehicles (EVs), light transport (LMT), energy storage systems (ESS), and starting, lighting, and ignition (SLI) applications, covering lithium-ion, nickel-metal hydride (NiMH), and lead-acid chemistries. One key initiative benefiting from this methodology is Circu Li-ion, which has developed an automated upcycling process to extract and diagnose lithium-ion cells from battery packs for reuse. This process aligns with circular economy principles, reduces CO2 emissions, and offers a sustainable alternative to conventional battery waste treatment. As Europe strengthens its waste policies, Circu Li-ion’s work contributes to resource conservation and effective waste management, Riverse said. Financial support is crucial for Circu Li-ion to scale operations, as the current volume of batteries available for recycling remains low, making investment in recycling infrastructure costly. Their automated dismantling service is unique in Europe, improving sorting and dismantling efficiency for recyclers. By extending battery lifespans, this methodology and Circu Li-ion’s innovations help reduce the environmental impact of battery production and disposal, contributing to a more sustainable energy storage sector. With global lithium-ion battery demand expected to increase 14-fold by 2030, including 17% from the EU, the need for sustainable battery solutions is critical. Despite their efficiency, battery production results in resource dependencies, waste, and GHG emissions, with less than 1% of lithium-ion batteries currently refurbished.
SCIENCE & TECH
Melting ice – The world’s glaciers are melting faster than ever before recorded due to the impacts of climate change, according to a study combining more than 230 regional estimates from 35 research teams around the world. Mountain glaciers are critically important as a freshwater source for millions and hold enough water to raise global sea-levels by 32 cm (13 in) if they melted entirely. But since the turn of the century, they have lost more than 6,500 billion tonnes – or 5% – of their ice. Between 2000 and 2023, glaciers outside the major ice-sheets of Greenland and Antarctica lost around 270 bln tonnes of ice a year on average, which is equivalent to the [water] consumption of the entire global population in 30 years, assuming 3 litres per person and day. The novelty of the study, said to be the most comprehensive to date, is its strength in drawing together evidence from across the research community. Global sea-levels have already risen by more than 20 cm since 1900, with around half of that coming since the early 1990s, and faster increases are expected in the decades ahead.
AND FINALLY…
Peak hydrogen potential – A new study suggests that large reserves of white hydrogen may exist within mountain ranges, potentially providing a clean energy source to reduce reliance on fossil fuels. Researchers used computer models to identify regions where geological conditions favour the production of white hydrogen, focusing on processes like serpentinisation, where water reacts with iron-rich mantle rocks to generate hydrogen. The study highlights mountain ranges such as the Pyrenees, the European Alps, and parts of the Himalayas as promising locations. While white hydrogen has been found in several countries, including the US, France, and Australia, identifying large accumulations remains a challenge. Scientists suggest that artificially stimulating hydrogen production by injecting water into mantle rocks may be possible. Though commercialisation may take decades, researchers believe white hydrogen has the potential to become a significant energy source, akin to the early development of the oil industry. (CNN)
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