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TOP STORY
DATA DIVE: Junk carbon credits are becoming less popular, as big names prioritise integrity
So-called ‘junk’ carbon credits are becoming less popular among corporates, while international brands have been prioritising those of a higher integrity, Carbon Pulse analysis of retirement and rating agency data has shown.
EMEA
EU proposes new rules to measure CO2 emissions from trucks
The European Commission put forward new draft rules on Monday introducing a common method to compare the CO2 performance and fuel consumption of heavy-duty trucks placed on the EU market, including those running purely on electricity or hydrogen.
‘For the first time in 40 years, emissions are going down because we’re shutting factories’: EU chemicals industry sounds alarm
Technology improvements have historically driven CO2 cuts across Europe’s chemicals sector, but for the first time emissions are now going down because of factory closures, the industry has warned, calling for some urgent measures to be adopted under the EU’s upcoming Clean Industrial Deal initiative.
BRIEFING: Cost, infrastructure, and policy concerns stall UK’s EV transition
The UK’s electric vehicle (EV) market is at a crossroads, with cost barriers, insufficient charging infrastructure, and policy concerns slowing the transition to net zero emissions, according to industry experts.
UK urged to target 87% emissions cut by 2040, fuelled by electrification
The UK should aim to cut emissions 87% by 2040 as part of its forthcoming Seventh Carbon Budget — a target that can be achieved with speedy action, especially to electrify heavy emitting sectors such as road transport and home heating, the Climate Change Committee (CCC) recommended on Wednesday.
UK biochar producer halts domestic carbon project amid public backlash
A British biochar company has cancelled plans to build a carbon removal project close to London after nearly 100 objections from officials and the public, local media reported Saturday.
Norwegian state-run CCS programme earmarks NOK 10 mln for CDR projects
A Norwegian state-run programme to advance CCS technology has for the first earmarked funding for CO2 removal projects, allocating NOK 10 million ($900,000) for 2025.
Euro Markets: Afternoon technical selling in gas triggers steep fall in carbon to year-to-date lows
European carbon prices dropped sharply on Tuesday afternoon as weakening sentiment and the breaching of a technical support level triggered a wave of selling in natural gas, encouraging a sizeable sell-off in EUAs ahead of Wednesday’s weekly Commitment of Traders data.
AMERICAS
RGGI compliance entities hold surplus permits at end 2024 despite higher Q4 emissions -report
RGGI compliance entities switched to RGGI permit surplus in Q4 from a shortfall through the prior quarter, while RGGI credit prices in the secondary market eased from records, according to the latest market monitor report.
US airline fund invests in, buys 500k CDR credits from DAC firm
A fund from a US airline has invested in and purchased 500,000 CO2 removal (CDR) credits from a California-based direct air capture (DAC) firm.
Industrial CO2 capture company raises over $4 mln venture capital funding
A tech company secured more than $4 million from several investors to scale its point-source CO2 capture solution, it announced Tuesday.
Orphaned well plugging firm to harness AI, blockchain to enhance leak detection, credit issuance
A US-based gas well plugging firm on Tuesday announced several new partnerships to integrate artificial intelligence (AI) and blockchain-backed technology into its project identification and carbon credit issuance processes.
More than a third of Latin America’s soils are unhealthy, threatening food and biodiversity, researchers warn
More than a third of Latin America’s soils are unhealthy, a new study has found, raising concerns over land degradation, food security, and climate resilience across the region.
ASIA PACIFIC
Japan prepares legislation for domestic ETS
The government of Japan has approved several revisions to current regulations to legalise the country’s planned emissions trading scheme, in a latest attempt to add legal clout to the carbon market.
China’s Tianjin to lower emissions threshold, add more companies to local ETS
One of China’s pilot emissions markets will add more participants in the future, as the regional government is set to lower the mandatory threshold for emitters.
China’s steel sector off track to meet 2025 climate target as oversupply looms -report
Overcapacity in China’s steel sector is eroding profits and hindering advancements in low-carbon development, throwing the country well off track to meet its 2025 climate target for the industry, according to a new report.
Offset, compliance markets in India expected to be of similar size, regulator says
The expected market size for India’s upcoming voluntary carbon offset mechanism will be at similar levels to that of the compliance market, an official told a conference in New Delhi this week.
BRIEFING: India’s plant-specific approach to carbon market aims to tackle industrial diversity
India’s approach of adopting unit-specific targets rather than sector-wide benchmarks in its domestic carbon market, a legacy of the Performance, Achieve, and Trade (PAT) scheme, aims to address its diverse industrial landscape to ensure fair and effective compliance.
INTERNATIONAL
COP30 will be “the most molecular COP ever”
Efforts are underway to set a sustainable fuels target at the next UN climate summit, COP30, in Brazil this November, a conference in Brussels has heard.
LNG a bargaining chip to avoid trade tariffs -analysts
Liquefied natural gas (LNG) imports are increasingly being seen as a “potential negotiating or bargaining chip” to avoid trade tariffs with the US, with significant upside for the sector, said an industry expert.
Carbon credit ‘adjustment fee’ could fund green tech at home, experts say
A fee mechanism for correspondingly adjusted Article 6 carbon credits can be used to bridge funding gaps in climate initiatives, particularly for developing nations seeking to monetise carbon reductions while advancing their ambitions, a conference heard Tuesday.
VOLUNTARY
Article 6 trading, rising standards helping to offset risks in voluntary carbon market -experts
The Paris Agreement’s new international carbon market regime, combined with the development of digital monitoring technologies and rising standards, is helping to rebalance the perception of risk in the voluntary carbon market, speakers told a conference on Tuesday.
“We’re adjusting the speed a bit”: Oil majors say they’re sticking to net zero course
The oil and gas industry is sticking to its promises of decarbonisation, but having to adjust its pathway as it runs into complications ranging from high costs of renewables, access to projects and grids, to the slow development of carbon capture, executives said on Tuesday.
Frontier opens applications for 2025 CDR pre-purchase agreements
Carbon removal (CDR) buyers’ coalition Frontier this week launched the application process for its 2025 pre-purchase agreements.
Rating agency offers broader ‘estimated’ scores of carbon credit quality
A carbon rating agency launched a service on Wednesday to give customers a broader ‘estimated’ score for the quality of credits issued to a project.
BRIEFING: CDR success hinges on improved, transparent MRV efforts -panellists
The CO2 removal (CDR) industry needs rigorous measurement, reporting, and verification (MRV) measures with government backing to attract long-term buyers and support climate goals, panellists said at a webinar Tuesday.
AVIATION
Fresh batch of J-REDD+ carbon credits to provide much-needed supply boost for CORSIA
Imminent new supply of carbon credits eligible for Phase 1 of CORSIA is poised to provide a long-awaited boost to the market, after some 8.7 million units were verified as ready for issuance under the ART TREES standard.
Absence of an ICAO-recognised carbon standard in India may create a credit supply issue for aviation sector -official
The current lack of an India-based standard eligible to supply carbon credits for the UN’s CORSIA scheme is creating a challenge for the aviation industry in the country, an official told a conference in New Delhi this week.
BIODIVERSITY (FREE TO READ)
All our nature and biodiversity articles remain free to read (no subscription required). However, we now require that all readers have a Carbon Pulse login to access this content in full. To get a login, sign up for a free trial of our news. If you’ve already had a trial, then you already have a login.
FEATURE: Resumed COP16 talks eye nature finance deal amid resurfacing tensions
The COP16 UN biodiversity conference resumed on Tuesday in Rome after talks were abruptly halted in November, with negotiators facing increasing pressure to hammer out a deal on nature finance amid fears that long-standing political divisions may prove too challenging to bridge.
Biomass industry to triple by 2030 with massive impacts on forests, study says
The global biomass energy industry is set to triple by 2030, posing unprecedented threats to intact tropical forests worldwide, according to a report released on Tuesday.
The Nature Conservancy calls for EU nature credit standard
The Nature Conservancy (TNC) has called on the EU Commission to introduce a standard to accelerate the development of compliance and voluntary nature credit markets in Europe.
Investors keen to grow nature conservation investment in Canada
Investors are keen to grow their portfolios with nature conservation investment in Canada, according to a new report which seeks to benchmark progress of the country’s nature finance market.
Biodiversity Pulse: Tuesday February 25, 2025
A twice-weekly summary of our biodiversity news plus bite-sized updates from around the world. All articles in this edition are free to read (no subscription required).
COMMENT
Nature – the hottest investment of 2025 that global superpowers can’t afford to ignore
On paper, the world’s plan to protect nature has almost everything it needs – except the money, writes the Zoological Society London.
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EVENTS
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
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
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
European Climate Summit – Apr. 1-3, Lisbon – To kick off our Annual Regional Climate Summit Series of this year, we at IETA look forward to welcoming delegates this Spring to our flagship European Climate Summit (ECS) 2025, taking place at the Pavilhao Carlos Lopes. ECS will take place amid a rapidly changing geopolitical landscape, even as carbon markets in the EU and globally continue to mature and expand. A new political cycle for EU climate action has begun, and the task of preparing carbon markets for their next stage presents both new challenges and opportunities. In this dynamic context, competitiveness, integrity, and innovation will be at the heart of our discussion. Be part of the conversation driving the next phase of carbon market evolution. Join us at ECS to engage with policymakers, business leaders, and climate market pioneers who are shaping the future of carbon markets. Organised by IETA, ECS is an in-person event. Register
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BITE-SIZED UPDATES FROM AROUND THE WORLD
INTERNATIONAL
Trade finance principles – Standard Chartered plans to adopt the International Chamber of Commerce’s (ICCs) recently published Principles for Sustainable Trade Finance, it said in a press release Tuesday. Published in Oct. 2024, these principles are aimed at providing clear, transparent, and consistent guidelines to allow banks, companies, and investors to effectively channel capital towards sustainable and inclusive trade finance. The move marks Standard Chartered as the first global bank to confirm the alignment of its Sustainable Trade Finance solutions to the global industry principles. The ICC principles offer a robust methodology for evaluating sustainable trade finance, including a standardised approach for assessing use-of-proceeds in trade finance deals and enhanced due diligence protocols for sustainability verification.
EMEA
Forestry partners – Carbon removal developer Arbonics has launched in Sweden through a partnership with digital forestry marketplace Treebula. The collaboration will offer Swedish forest owners access to a new revenue stream from forest protection through carbon credits, the press release stated Tuesday. Treebula’s AI-driven forestry platform, used by over 65,000 Swedish landowners is now integrated with Arbonics’ technology, allowing forest owners to earn from generating credits. Sweden’s forests cover two-thirds of the country, with nearly half of them privately owned by 300,000 individuals, many of whom are seeking to generate additional income on top of harvesting timber. Initial calculations show up to 2 mln hectares of Swedish forest could qualify for the carbon project, with potential carbon income from the eligible land exceeding €29 bln.
Back to Petroleum – BP is expected to formally announce Wednesday a shift away from net zero and back towards its oil and gas heritage. Murray Auchincloss, the energy company’s chief executive, will seek to persuade sceptical investors that he can deliver a fundamental reset. Under current plans, BP plans to cut oil and gas output from last year’s 2.4 mln barrels a day to just 2 mln within five years, which itself was a revision to cut to 1.5 mln by 2030. But Auchincloss has already suggested BP’s oil production will rise by 2-3% a year until 2030 instead. In full year accounts, Auchincloss promised a wave of new oil and gas production, including BP’s sixth hub in the Gulf of Mexico. BP’s anticipated shift back to supporting fossil fuel production is in response to falling dividends and criticism from Elliot, a Florida-based hedge fund and corporate raider, that has built a $3.8 bln stake in the company.
A new steel plan – The European Commission is going to set up a Strategic Dialogue on Steel aimed at setting a course for the future of the European steel industry. On Mar. 4, European Commission president Ursula von der Leyen will chair the high-level meeting of the Strategic Dialogue on Steel. Key representatives from across the steel value chain will participate in the meeting.
Norwegian ship emissions – The Norwegian Shipowners’ Association members’ fleet emitted 28.7 Mt of CO2e in 2024, some 25 times higher than those of domestic aviation, according to a climate report it released. The figure reflects emissions from about 1,800 ships and offshore rigs controlled by the association’s 130 member companies. The trade body aims to achieve a 50% reduction in GHG emissions per transported unit by 2030, compared to 2008 levels, with an additional goal of achieving a climate-neutral fleet by 2050. Its CEO Harald Solberg emphasised the need for pricing mechanisms to address emissions, particularly as the body’s environmental footprint in 2024 exceeded Norway’s domestic emissions of 46.6 million tonnes of CO2 equivalents in 2023. The trade body advocates for measures such as a national CO2 fund and Carbon Contracts for Difference (CCfDs) to bridge the cost gap between conventional and climate-friendly fuels. This aligns with the country’s inclusion in the EU ETS, which is expected to generated funds from shipping companies to redirect towards CO2 reduction. (PortNews)
Meanwhile in Flanders – The Flemish government has launched the Flemish Action Platform for Carbon Removals & Carbon Farming to support the development of carbon removal initiatives in the region. The platform aims to address barriers such as the lack of a clear regulatory framework and reliable MRV systems. It is supported by multiple government agencies and initially focuses on carbon farming and carbon storage in biomaterials, with plans to expand to other carbon removal technologies. The initiative is structured around three strategic networks:
- Navigation network: Engages with local stakeholders to develop a coherent regional vision for carbon removal.
- MRV network: Establishes harmonised measurement protocols, databases, and models for cost-effective monitoring and verification.
- Financial network: Explores sustainable business models and financial mechanisms for carbon farming.
By aligning with the EU’s CRCF Regulation, the platform seeks to create economic opportunities for farmers, foresters, and industry while contributing to climate goals. To drive its activities, the platform is recruiting two coordinators: one focusing on policy and finance, and another on scientific aspects related to MRV.
Check complete – The UNFCCC has found Cote d’Ivoire’s voluntary submission of its forest reference emission level (FREL) and forest reference level (FRL) to be transparent, complete, and compliant with its assessment rules, as part of a technical assessment report (TAR) published Tuesday. Initially, the country’s submission for the 2015–20 reference period set FREL at 46.9 MtCO2e per year. Following the technical assessment, this value was revised to 32.4 MtCO2e.
Eni help? – A subsidiary of Eni, the Italian oil major, has signed a multilateral cooperation agreement to implement an Egyptian organic agriculture project that will produce carbon credits. IEOC Production B.V., representing Eni, on Monday signed the deal with Egypt’s Ministry of Petroleum and Mineral Resources, the Matrouh Governorate, the Egyptian General Petroleum Corporation, and Sekem, an agricultural conglomerate. The Towards Organic Agriculture project will support 700 farmers in their transition to organic farming, integrating them into a carbon credit certification pipeline. Sekem’s leadership is deeply ingrained in the Egyptian VCM. Sekem CEO Helmy Abouleish serves as chairman of the board of the Economy of Love standard, which certifies 13 of the 21 projects named on the country’s AfricarbonX VCM portal.
From Muscat, with love – Oman Climate Week is underway, with Omani sustainability consultancy and carbon project implementer NetZero Era on Tuesday signing a carbon broker agreement with ACX Carbon Treasury – Brazil in Muscat. NetZero Era undertakes renewable energy projects for biogas, solar, and wind. The deal-signing was attended by Omani and Brazilian officials, including the chairman of the Omani environment authority, representatives from the Brazilian embassy, and the Omani ambassador to Brazil. NetZero Era also on Tuesday signed an MoU with the municipal waste services of Amman, Jordan.
ASIA PACIFIC
Better tools – Japanese tech company Fujitsu has teamed up with ANA, Toshiba Data Corporation, and the government of Kawasaki city for the launch of a pilot programme aimed at quantifying CO2 reductions from citizens, it announced Tuesday. The pilot, featuring smartphone applications, will utilise a database developed by the environment ministry to visualise CO2 reductions by residents in the region. Meanwhile, Korean project developer WinCL on Tuesday launched a monitoring service that provides one-stop support from carbon management to emission verification and offset creation. WinCL said the new service can also help companies cope with domestic and international carbon management standards.
Digitalisation – Yueyang Forest & Paper, a China-based papermaker and offset project developer, said it has started to integrate its carbon sink development process with artificial intelligence solutions, according to a WeChat post. By introducing AI, Yueyang aims to optimise the operation process of carbon sink projects and provide visual evidence for audits. It also plans to deepen the application of AI in forestry, blue carbon, and other types of projects.
JCM project – Tokyo-headquartered Green Carbon has begun a pilot project that will create carbon credits under the Joint Crediting Mechanism (JCM) framework, based on a rice-focused methodology, it announced Tuesday. The project, based in Nueva Vizcaya, the Philippines, aims to reduce methane gas emissions by introducing intermittent irrigation techniques. It is expected to be expanded to the entire irrigated rice fields in the region, covering around 30,000 hectares, within the next three years. The move will generate roughly 1 mln carbon credits over the next 10 years, according to Green Carbon. The developer has said it aims to expand its JCM project portfolio across the Philippines.
Greener option – Japan’s Itochu Enex has begun collaboration with Nippon Car Solutions, a car leasing company, for the introduction of a new initiative which provides customers with greener gasoline options using carbon credits from March onwards, according to a company statement. Through this initiative, both companies will promote the reduction of GHG emissions from mobility, the statement said.
Feasibility study -Offset developer DGB has completed the feasibility study for its afforestation project in Kazakhstan, it announced Tuesday. The project, based in the Aral Sea region, follows Verra’s VM0047 methodology for Afforestation, Reforestation, and Revegetation (ARR) and has a minimum project lifetime of 40 years. It is expected to generate up to 364,910 carbon credits over the project’s lifetime.
SAF funding – The Australian Renewable Energy Agency (ARENA) has committed A$10.4 mln ($6.5 mln) to two sustainable aviation fuels (SAF) initiatives, it announced. The bulk of the funding, (A$8 mln) will go to Australian tech developer Licella to go towards its A$26.1 mln project to complete feasibility and front-end engineering design studies assessing the viability of a biorefinery facility in Bundaberg, Queensland, using patented technology to convert sugar mill residues to renewable fuels. The facility would produce 40 mln litres of SAF per annum. The other A$2.4 mln will got to Viva Energy’s project to recondition an exiting tank at its Pinkenba Terminal to enable blended SAF supply to Brisbane Airport.
AMERICAS
Expansion examined – The American Petroleum Institute (API) has called for a national policy on gasoline blends with higher ethanol levels following the US EPA’s decision to allow year-round sales of E15 fuel in eight Midwestern states. The policy change, set to take effect on Apr. 28, was requested by Midwest governors and builds on previous efforts to expand E15 availability year-round. While biofuel producers support broader sales, API and other industry groups argue that a state-by-state approach could create supply disruptions and favour a nationwide standard instead. The EPA’s move impacts Illinois, Iowa, Minnesota, Missouri, Nebraska, Ohio, South Dakota, and Wisconsin, with Ohio already requesting an additional year for compliance. API and other oil industry groups, including the American Fuel and Petrochemical Manufacturers, urged further review from the EPA, citing potential gasoline price increases and market disruptions. (World Energy News)
SCOTUS watch – The US Supreme Court will hear Diamond Alternative Energy vs EPA on Apr. 23, a case challenging California’s authority to set stricter tailpipe emissions standards than federal regulations. The Trump administration had sought to pause the case while reviewing the state’s waiver, but the court denied the request. However, the administration was granted an extension to file briefs, now due Mar. 12. The challenge, brought by oil and biofuel industry groups, argues that California’s long-standing Clean Air Act waiver unfairly allows the state to impose tougher GHG emissions limits than the federal government. (E&E News)
Power plant phaseout – US electricity generators plan to retire 12.3 GW of capacity in 2025, a 65% increase compared to 2024, when 7.5 GW was retired, the lowest since 2011, according to the US Energy Information Administration. Coal-fired plants account for the majority of retirements (8.1 GW or 66%), followed by natural gas (2.6 GW or 21%) and petroleum (1.6 GW or 13%). Major coal plant retirements include Intermountain Power Project (1,800 MW) in Utah, JH Campbell (1,331 MW) in Michigan, and Brandon Shores (1,273 MW) in Maryland. Natural gas retirements primarily affect VH Braunig Units in Texas (859 MW) and Eddystone Units in Pennsylvania (760 MW), with TVA’s Johnsonville station in Tennessee replacing older turbines with modern units. Petroleum-fired plant closures include Herbert A Wagner in Maryland (828 MW) and TVA’s Allen power plant in Tennessee (427 MW).
Clean energy cutbacks – Air Products, a global industrial gases company specialising in hydrogen production and clean energy solutions, has announced its exit from three US projects, resulting in an expected pre-tax charge of up to $3.1 bln in the second quarter of fiscal 2025. The company terminated its agreement with World Energy for a sustainable aviation fuel expansion in California due to commercial challenges, cancelled plans for a hydrogen production facility in Massena, New York, citing regulatory changes affecting tax credits and slow market development, and ended a carbon monoxide project in Texas due to unfavourable economics. CEO Eduardo Menezes stated the decision will allow Air Products to focus on projects that drive shareholder value. Despite these cancellations, the company continues work on its NEOM green hydrogen project in Saudi Arabia, set for completion in 2026, and its Louisiana Clean Energy Complex, expected to start up in 2028.
Clueless? – Think tank Data for Progress reported that a majority of US voters have not heard about carbon removal (CDR), although two-thirds of the respondents had a favourable opinion of the concept after a brief explanation, including 57% of the polled Republicans. The findings, published on Tuesday, also highlighted strong bipartisan support from voters for siting CDR projects in their respective states.
Burned bonds – S&P Global Ratings downgraded the Los Angeles Department of Water and Power’s credit rating following the Los Angeles wildfires, citing the increasing frequency and severity of such disasters as a growing financial risk, E&E News reported. The decision has raised concerns about how the $4 trillion municipal bond market evaluates climate risks, as bond values fell, and default risk rose after the downgrade. While previous credit downgrades have been tied to direct property damage, this marks a shift toward factoring in long-term climate-related threats. S&P is now reviewing wildfire risks for all California municipal bond issuers.
Slow your roll – The California New Car Dealers Association, the largest state association of franchised new car and truck dealers in the US, has launched a digital and television ad campaign urging the state to delay enforcement of its EV mandate, E&E News reported. The group argues that the mandate could limit model availability and increase prices for consumers. The campaign, which includes a three-minute advertisement on a newly launched website, calls for a pause in enforcement to allow time for EV infrastructure, consumer demand, and market readiness to develop. The association also advocates for a phased approach to the EV transition but does not propose a specific policy alternative.
Defrosting dollars – The Trump administration has agreed to release more than $2 bln in previously frozen federal funds for Pennsylvania, following pressure from Gov. Josh Shapiro (D) and a lawsuit filed against five federal agencies. The funding, which had been blocked as part of a broader federal spending freeze, supports environmental programmes, clean-water infrastructure, and energy efficiency assistance for low-income households. Shapiro credited the reversal to both legal action and direct negotiations with the administration, though the lawsuit will continue until a final resolution is reached. (Pennsylvania Capital-Star)
Head start on hydrogen – California regulator ARB held a clean hydrogen technical workshop Tuesday related to SB 1075 – a 2022 bill that creates a policy framework for developing a clean hydrogen industry in the state. Part of that bill directs the ARB to produce a comprehensive report on how hydrogen can be used across all sectors to help achieve the state’s climate and energy goals. The technical workshop Tuesday was one stage of a long process that will ultimately produce the final report in Q1 2026. The workshop was intended to provide technical, policy, and market analysis that will inform or be included in the report. It discussed opportunities and challenges across the hydrogen value chain, from production to transportation to end-use. The ARB will next hold a series of community meetings and workshops over the next two quarters before issuing a draft report for public comment by the end of 2025.
Codifying climate – A climate bill in the New Mexico legislature designed to codify an executive order issued by the governor was tabled recently, sinking for the fourth time since 2019. The Clear Horizons Act, which intended to set emissions reduction goals for the state, was looking to cement a 2019 executive order issued by Gov. Michelle Grisham in the early days of her administration. The order supports Paris Agreement goals and sets a statewide emissions reduction goal of 45% below 2005 levels by 2030. The bill was tabled by a 6-5 vote in the Senate Finance Committee after two Democratic senators sided with Republicans, according to KUNM.
Gas gridlock – New Brunswick Premier Susan Holt’s government faces opposition from gasoline distributors and retailers over a proposed repeal of the carbon cost adjustor, a policy that requires fuel producers to pass federal clean fuel regulation costs onto consumers, CBC News reported. Business owners warned a legislative committee that repealing the policy would force them to absorb the costs, potentially putting them out of business. The proposal, a key Liberal affordability promise, was halted for further review after lobbying from industry groups. The Conservation Council of New Brunswick, environmental advocacy organisation, argued that producers should bear the costs of emissions, advocating for a stronger carbon tax on industry instead. The committee has not yet decided on its recommendation.
Ford fires back – Ontario Premier Doug Ford is making the threat of US tariffs a central issue in the final days of Ontario’s snap election, arguing he is best positioned to protect the province’s economy, CBC News reported. At a campaign stop, Ford referenced President Trump’s plan to impose tariffs of 25% on all Canadian imports and 10% on Canadian energy, stating Ontario must be “ready for anything.” Ford suggested raising electricity costs for US buyers in response but did not provide details.
Carbon rebate exit – Yukon Finance Minister Sandy Silver (Liberal Party) has called for immediate discussions with the federal government to plan for the potential end of carbon pricing in Canada. Silver noted that all candidates in the federal Liberal leadership race, as well as the Conservative and NDP leaders, have stated their intention to end, freeze, or significantly alter the federal carbon tax, making its continuation unlikely after the next election. Without the federal programme, Yukon will lose funding for its territorial carbon rebate system. Silver has formally requested that the federal government coordinate a systematic wind-down of the rebate programme and cancel the planned Apr. 1 carbon tax increase to ensure Yukoners are not negatively impacted.
AND FINALLY…
Olive tones – The International Olive Council (IOC) has held its second working session as part of an initiative to help measure the carbon stocks in olive groves. The Carbon Stocks Project (Spanish: Proyecto Balance de Carbono), launched in Oct. 2024 in collaboration with the Spanish Association for Standardisation and Certification (AENOR), has the ultimate goal of creating a methodology that quantifies the carbon removal potential and carbon stock of an olive grove. This methodology would aim to align with the EU’s Carbon Removals and Carbon Farming (CRCF) framework.
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