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TOP STORIES

German Greens secure €100 bln for climate in landmark deal

Germany will earmark €100 billion of a new €500 bln infrastructure fund for climate action, in exchange for support from the Greens to push the fund and a historic reform of the country’s debt brake through the Bundestag.

Germany on track for 2030 climate target, not for long-term goals

Total greenhouse gas emissions in Germany dropped again in 2024, putting the country roughly on track for 2030, but continued high transport and heating emissions are putting the country’s 2045 climate neutrality target in jeopardy, the German Environment Agency (UBA) reported on Friday.

CERAWEEK

CERAWeek: Global CBAMs “will be a feature, not a bug” moving forward -panellists

Carbon border adjustment mechanisms (CBAMs) are expected to continue to grow across the globe and play a prominent role in trade relations in the coming years, experts said at the CERAWeek conference.

CERAWeek: DAC has “special role” in diversified CDR portfolio -Microsoft

A representative from the US-based tech giant said that direct air capture (DAC) plays a “special role” within its diversified carbon removals (CDR) portfolio during a discussion at CERAWeek.

ASIA PACIFIC

Indonesia poised to lift issuance moratorium next month, source says

Indonesia is looking to lift its moratorium on international credit issuances next month, according to a source familiar with the matter, a move that could breathe life back to the bruised voluntary carbon market (VCM).

Trading house gets out of Australian cattle station investment due to long wait for new ACCU methods

A carbon and commodities trading house has bailed on its investment in an Australian cattle station where it hoped to develop an Australian Carbon Credit Unit (ACCU) project, fed up with waiting on new methods to be finalised.

CN Markets: CEAs move in narrow range, fresh CCERs drive price volatility

Chinese carbon permit prices remained in a narrow trading range over the past week with shrinking volumes, while trading of the first voluntary carbon credits issued in China since 2017 has caused significant fluctuations in price.

Australia offers A$750 mln for clean minerals development

Australia on Friday continued its clean energy spending, announcing it will invest A$750 million ($471 mln) in critical minerals and their development and processing through the Australian Renewable Energy Agency (ARENA).

Indian firm signs agreement with Mitsubishi to scale ERW projects in South Asia

An Indian carbon removal firm has entered into an agreement with Japanese conglomerate Mitsubishi Corporation to scale carbon dioxide removal (CDR) in South Asia by generating high quality and durable credits through enhanced rock weathering (ERW) projects.

Russia issues first carbon credits under Sakhalin trading experiment

A Russian energy company has become the first to receive carbon credits under an experimental carbon trading scheme on the gas-rich Sakhalin island near Japan, local media reported Thursday.

Pakistan opens draft carbon market rules for public consultation

Pakistan’s Ministry of Climate Change and Environmental Coordination (MoCCEC) this week opened its first draft carbon market rules for public consultation, following weeks of review by an expert committee.

AMERICAS

Mark Carney cancels carbon tax as Canadian PM, selects new environment minister

Liberal leader Mark Carney was sworn in as Canada’s 24th Prime Minister on Friday and immediately eliminated the consumer-facing carbon tax, as well as moved former Environment Minister Steven Guilbeault into a new post in his cabinet.

RGGI Market: Q1 auction clears in line with secondary market and trader expectations, CCR sold out

The first RGGI cap-and-trade auction of 2025 settled in line with RGGI Allowances (RGAs) in the secondary market the day before the sale, and below $20 as many market participants had expected, with Cost Containment Reserve (CCR) volumes cleared out.

CFTC: Auctions drive compliance positioning, LCFS optimism catches speculators

Compliance entities reduced net length across North American carbon markets around first quarter allowance auctions, while investors added Low Carbon Fuel Standard (LFS) length after prospects of a Q1 2025 implementation of programme updates fuelled optimism, latest figures from the US Commodity Futures Trading Commission (CFTC) showed Friday.

INTERVIEW: US values clean energy for diversification and security, unlikely to completely scrap IRA

For all its anti-climate rhetoric, the US government does value the diversification and supply security benefits of clean energy, and views most Inflation Reduction Act (IRA) credits as a way to kickstart an industry, according to the CEO of a Danish fuel producer.

Environmental group gears up for fight against US EPA over regulatory rollback

A US environmental group is gearing up for a legal fight against the US EPA’s rollback of a slate of regulations that reversed the core foundation of the nation’s environmental policy.

US EPA repromotes WSJ editorial on CO2 regulation rollback

The US EPA on Friday republished an editorial from the Wall Street Journal (WSJ) that explored the legal basis of the agency’s formal reconsideration of the 2009 Endangerment Finding announced earlier this week, ahead of expected lawsuits.

Carbon offsets platform invests $1 mln into California biochar firm

A California-based carbon offsetting platform has investment $1 million into a Santa Rosa-headquartered biochar firm, it announced Friday.

Policy group calls for consultation on first Canadian CDR dashboard

A new online hub could offer a “transparent view” of project, supply and market developments in Canada’s CO2 removal (CDR) sector – offering a critical touch point to industry.

Up to 2.6 MtCO2 emitted due to gold mining in Peruvian peatlands -study

An academic study published this week has found that gold mining in the southern Peruvian Amazon has compromised not only forests, but peatlands – releasing an additional 2.6 million tonnes CO2 into the atmosphere, with the potential to emit much more.

EMEA

BRIEFING: EU push for simplification may be at odds with a far-reaching Green Claims Directive, experts say

The European Commission’s push for regulatory simplification may dilute efforts to impose strict rules for proving corporate climate claims, think tanks and trade associations in Brussels have told Carbon Pulse.

FEATURE: Cement makers jockey for EU’s upcoming carbon intensity label

The EU’s upcoming label for low-carbon cement, announced last month, has prompted contrasting reactions from industry players and environmental groups who shared their views and expectations with Carbon Pulse.

EU land carbon sink in crisis, as ‘unlikely’ targets loom -report

The European Union’s land carbon sink has been in rapid decline, jeopardising the bloc’s climate targets for 2030 and beyond, finds a new report by the Institute for European Environmental Policy (IEEP).

Croatia-based carbon project financier, Slovenia regional park in 10-year deal to develop “high-quality” credits

A Croatia-based carbon project financier has inked an “exclusive” 10-year deal with a regional park in neighbouring Slovenia to develop “high-quality” carbon credits.

BP reports 38% reduction in Scope 1 and 2 emissions, new biodiversity projects in 2024

BP last week reported a 38% reduction in its combined Scope 1 and 2 emissions in 2024, compared to a 2019 baseline, bringing total emissions down to 54.5 million tonnes of CO2 equivalent.

UK hits restart with China on climate change dialogue

The UK will restart a meaningful climate change dialogue with China, as Energy Secretary Ed Miliband arrived in Beijing on Friday for the first formal talks to accelerate climate action in nearly eight years.

Italian airline partners with Google-backed DAC startup to explore CDR projects

An Italian air carrier announced Thursday it has signed a two-year agreement with a Google-backed direct air capture (DAC) startup to explore carbon credits projects.

Euro Markets: EUAs post first weekly rise since January as options hedging, technical buying drive gains

European carbon prices snapped a run of five weekly losses on Friday, as a lacklustre start to the day gave way to a sharp rally amid a surge of technical buying and options hedging, with prices being pulled back up towards key strike prices for the March options contract.

VOLUNTARY

DATA DIVE: Countries involved in REDD+ more likely to see lower rates of forest loss

Countries with greater involvement in UN-backed REDD+ carbon projects are more likely to see lower rates of primary forest loss, new data analysis from Carbon Pulse suggests.

Verra may revamp ARR methodoligies in push for CORSIA eligibility

Verra may revamp methodologies for reforestation and revegetation (ARR) as it seeks to expand the scope of projects eligible for phase one of CORSIA, the UN’s Carbon Offsetting and Reduction Scheme for International Aviation.

AVIATION/SHIPPING

Biomass key to meeting shipping sector emission targets -report

A new report published Thursday outlined the potential for biofuels derived from biomass to significantly contribute to the international maritime industry’s decarbonisation efforts.

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.

BNG sees less than £250k worth of statutory biodiversity credits sold in first year

Government body Natural England has sold £247,416 worth of statutory biodiversity credits since it introduced its biodiversity net gain (BNG) regulation last year, it said Friday.

WWF urges EU to boost LIFE programme in next budget

WWF has called on the EU to boost the LIFE programme to ensure adequate funding flows towards biodiversity conservation and restoration efforts under the bloc’s next long-term budget.

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NEW REPORT

How offtake agreements are shaping the future of biochar: Long-term offtake agreements are transforming the biochar carbon removal market — securing supply, stabilizing prices, and providing financial certainty. Supercritical’s latest report, Locked in or Left Behind?, explores key shifts in procurement strategies and what they mean for the future of carbon removal. With 62% of high-quality biochar credits for 2025 already committed and prices rising 18% in 2024, securing an offtake could be the key to guaranteeing supply and price stability.

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EVENTS

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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Premium job listings

• (Senior) Quantitative Carbon Market Analyst EU ETS2, Veyt – Oslo/London
• Nature and Biodiversity Correspondent, Carbon Pulse – Remote

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ADVERTISE WITH US

Carbon Pulse has published its 2025 advertising brochure and media pack, featuring updated offerings and prices. With that, bookings are now open for advertising on our website and in our newsletters.

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BITE-SIZED UPDATES FROM AROUND THE WORLD

INTERNATIONAL

Getting them out of the way – Brazil, host of COP30, has announced that world leaders will deliver their climate speeches on Nov. 6-7, ahead of the official UN negotiations starting on Nov. 10 in Belem, Climate Home reports. The decision aims to ease pressure on the city’s limited hotels and transport. For the past decade, world leaders have spoken at the beginning of COP conferences, but this shift separates their summit from the negotiations. While some campaigners fear this could reduce media attention and weaken political pressure, others believe it allows for a smoother event and reinforces Brazil’s focus on implementation. Belem, the first Amazonian city to host a COP, has been chosen for its symbolic importance in climate action. However, concerns have been raised over its capacity to accommodate the large influx of delegates. COP30 president Andre Correa Do Lago defended the choice, highlighting the Amazon’s critical role in addressing climate change.

Lliuya v RWE – A landmark climate lawsuit is set to go to trial in Germany next week, with Peruvian farmer Saul Luciano Lliuya seeking to hold German energy giant RWE accountable for its role in climate change. Lliuya argues that RWE’s historical GHG emissions have contributed to global warming, accelerating glacial melt near his hometown of Huaraz, Peru, and increasing the risk of catastrophic flooding from Lake Palcacocha. The case is seen as a potential precedent for climate litigation, as it is one of the first brought by an individual directly impacted by climate change against a major polluter. Experts say if successful, it could pave the way for similar lawsuits worldwide. RWE denies responsibility, arguing that climate change is a global issue and that individual companies should not be held liable. The company also warns that the lawsuit could set a dangerous precedent for attributing climate impacts to specific emitters. The court is now entering the evidence-gathering phase to determine whether Lliuya’s home is at significant risk of flooding and whether RWE’s emissions can be scientifically linked to that risk. Regardless of the outcome, experts suggest the case is already influencing legal and financial landscapes, as climate litigation increasingly impacts corporate stock values and investor confidence. Lliuya, who initially had little hope for success, says he now feels encouraged by the progress made, particularly after German judges visited his home and the lake in 2022. The trial begins on Monday. (AP)

The leftovers – Five US scientists remain part of the roughly 100-person IPCC team working on a report about global warming and cities that started meeting this week in Japan, reported Inside Climate News. In February, it was reported that the Trump administration terminated a contract for a technical support unit that was to travel to China to support the IPCC’s seventh instalment of its influential series of reports on global climate information. Although he once again withdrew the US from the Paris Agreement shortly after taking office in January, Trump conversely did not interfere in US engagement in the IPCC during his first term. The IPCC is resilient and can effectively perform its scientific work even if the US is politically disengaged from the process, said Kevin Gurney, an atmospheric scientist at Northern Arizona University who is part of the contingent of U.S. scientists at the meeting in Japan. The Trump administration did not respond to questions about future US engagement with the IPCC, according to the outlet, and federal funding for the group of scientists is uncertain. Concerned scientists said the lack of US expertise could result in technical and economic lags in the fight against climate change.

EMEA

NATO spending – Spain’s Prime Minister Pedro Sanchez has called for a broader definition of defence spending to include efforts to combat climate change, cyber security, and anti-terrorism. His country is at the bottom of NATO’s military budget rankings. Sanchez has reiterated that Madrid would reach NATO’s 2% of GDP spending target at some point before 2029, but argued threats other than a Russian invasion had to be considered. This is given Spain’s location in Europe, further away from Russia than some other countries, meaning that the threat from Russia is “more a hybrid threat” related to cyber attacks than direct invasion, he said. While there’s also real threat of a climate emergency in the Mediterranean, he added. Spain is in the spotlight for its low spending on NATO, spending less than any other NATO member on defence as a percentage of GDP, reaching an estimated 1.28% in 2024. (FT)

It’s da bomb – The US has approved a $4.7 bln loan for a LNG project in Mozambique, led by French energy company TotalEnergies, despite concerns over its environmental impact and alleged human rights abuses. The US Export-Import Bank (EXIM) granted financial support for the project, which had previously been paused due to security concerns following an attack by the Al-Shabaab militant group in 2021. The loan is seen as pivotal in securing financing for one of Africa’s largest-ever energy projects, estimated at $20 bln. The decision reverses a prior US commitment to end public funding for overseas fossil fuel projects. The project, described by climate activists as a “carbon bomb”, could generate up to 121 Mt of CO2 annually over nearly 40 years. Allegations of human rights violations have also surfaced, with reports of Mozambican soldiers linked to the project abducting, raping, and killing civilians. TotalEnergies denies involvement or wrongdoing. The company had planned to resume construction in 2024 but now expects operations to begin in 2029 due to security and funding challenges. The project has also received backing from UK and Dutch export credit agencies, though the UK is reportedly reviewing its financial commitment. US climate campaigners have strongly criticised EXIM’s support, calling it an irresponsible use of taxpayer funds. (Climate Home)

Spill the beans – The UK’s First-tier Tribunal (General Regulatory Chamber) on Friday ruled in favour of investigative journalist Lucas Amin, overturning a decision by the Information Commissioner (IC) that had supported the Department for Environment, Food and Rural Affairs (DEFRA) in withholding a ministerial briefing paper. The case concerned a freedom of information (FOI) request made by Amin for documents related to a meeting between a government minister and Drax, the UK’s largest biomass energy company, in Jan. 2023. DEFRA had refused to disclose the briefing paper, arguing that it was internal communication protected under Regulation 12(4)(e) of the Environmental Information Regulations (EIR) 2004 and that disclosure would inhibit frank discussions among officials. The Tribunal, however, found that the public interest in transparency outweighed the arguments for secrecy. It emphasised that the briefing paper was the only existing record of the meeting, making its disclosure crucial for accountability and public understanding. DEFRA’s claim that disclosure would create a “chilling effect” on civil servant advice was rejected, as it was not strongly evidenced. Additionally, the Tribunal noted that a significant amount of time had passed since the meeting, reducing any potential harm from disclosure. The ruling also acknowledged the widespread public debate surrounding Drax, particularly its £6.5 bln in government subsidies, its environmental impact, and concerns over biomass sustainability. In reaching its decision, the Tribunal relied on legal precedents that support the presumption of disclosure under the EIR, including the Vesco case, which highlighted the importance of public access to environmental information. The Tribunal ultimately ruled that DEFRA must release the briefing paper within 35 days, with only one name redacted under Regulation 13 of the EIR (which protects personal data).

Royal funding – The Crown Estate has been given new investment powers to unlock up to £1.5 bln in investment for UK energy and nature, to be spent over the next 15 years, the UK government said. Tweaks to the Crown Estate Act will mean the organisation will have greater flexibility to borrow and invest. The Act comes into effect on May 11. The Crown Estate manages an extensive portfolio of assets including the UK’s seabed, rural land, and urban properties. (Edie)

Partners – Iberdrola and Air Liquide have signed a long-term power purchase agreement (PPA) to supply renewable energy for Air Liquide’s industrial production in Spain and Portugal. Under the agreement, Iberdrola will provide energy generated by 25 MW from three onshore wind projects in northern Spain. The collaboration supports Air Liquide’s efforts to develop sustainable solutions for industrial gas supply while helping its industrial and medical customers reduce their carbon footprint.

Exploring opportunities – Canadian firm UnityNet International has partnered with Kampala headquartered Eals Consult Uganda Limited to develop carbon projects focused on regenerative development. The partnership will explore opportunities to develop a pipeline of carbon offset projects that not only reduce GHG emissions but also promote sustainable livelihoods, biodiversity conservation, and community development. These projects will help organisations achieve their net zero goals while also driving positive social and environmental impacts.

ASIA PACIFIC

Date set – Singapore and Cambodia will finalise an Article 6 carbon credit agreement this year, news outlet Cambodianess reported. The intention was set out during a meeting between Cambodia Senate President and former Prime Minister Hun Sen and Singapore Ambassador Teo Lay Cheng this week. The agreement will build on a framework agreed and MoUs signed in 2024 and 2023, to align cooperation with the rules of Article 6 of the Paris Agreement. The Cambodian government has earned some $11.6 mln between 2016-2020 from carbon credits sales from the Keo Siema Wildlife Sanctuary and the controversial Southern Cardamom REDD+ project. The Southeast Asian country expects to generate $10 mln from carbon credit sales from forested areas.

COP out – The Australian federal Coalition party has refused to commit to agreeing to hosting the COP31 summit in partnership with the Pacific, AAP reported. The Australian government, under the Labor party is bidding to host the climate change talks in 2026. However, opposition energy spokesperson Ted O’Brien would not commit to supporting the bid if they were in office, saying his party’s priority was to reduce cost of living for Australians. “Labor’s priority is hosting a global climate change summit,” he added. Labor has said co-hosting the summit with the Pacific would show Australia is serious about tackling climate change and its commitment to the region where it’s a major priority for island nations. The bid has yet to be secured, however, with Australia expected to find out if it or rival bidder Turkiye is successful at the mid-year intersessional in Bonn.

Hydrogen high seas – Climate Impact Corporation (CIC), an Australian renewable hydrogen investor and developer, has partnered with shipping company Purus Marine to establish a net zero shipping pathway for transporting CIC’s renewable hydrogen fuels. CIC, which is developing two 10 GW hydrogen projects in Australia, aims to leverage Purus Marine’s low-carbon shipping capabilities to ensure a fully sustainable supply chain. The collaboration seeks to address emissions from hydrogen transport, a factor often overlooked in green hydrogen production claims. CIC Chairman David Green emphasised that the partnership is focused on affordability, with a target price of $2 per kg for renewable hydrogen, while maintaining sustainability through Purus’ innovative shipping solutions.

To tax or not – Pakistan’s government is considering a higher petrol levy, government officials told the Express Tribune. There is a strong push within the government to increase the existing petroleum levy rate of PKR 60 ($0.2) per litre to offset part of the upcoming reduction in diesel and petrol prices. Under the current law, the petroleum levy on high-speed diesel and petrol can be raised to PKR 70 per litre, as the PKR 10 would result in an additional PKR 15 bln per month for the government, which would help the country struggling with huge revenue shortfalls. In a recent meeting, the IMF proposed introducing a carbon levy of PKR 10 per litre over three years, as a condition for the new $1 bln Climate Resilience Facility, which Pakistan is currently negotiating. The government is considering both the carbon levy and an increase in the petroleum levy simultaneously. As well, the climate change ministry wants the proceeds of the levy to mitigate the climate change impact, the media outlet added.

Thai partners – Thailand’s Bank for Agriculture and Agricultural Cooperatives (BAAC) and the Thai Department of Forestry this week signed an MoU to implement a forest restoration project. The agreement was signed by Surachai Ajalaboon, director-general of the Department of Forestry, and Chatchai Sirilai, BAAC’s general manager. The collaboration aims to guide efforts in conserving and rehabilitating degraded forests within legally-protected areas, national reserved forests, and community forests. The project will promote local community involvement in forest conservation and align with government policies to reduce GHG emissions. The initiative supports Thailand’s commitments to carbon neutrality and net zero emissions, with a 15-year operational timeframe. Under the agreement, the Department of Forestry will select areas for conservation and provide expertise on tree species selection, planting, maintenance, and impact assessment. The BAAC will undertake reforestation and maintenance efforts in cooperation with forestry experts and local communities, using technology to monitor forest growth and sustainability.

J-Credit partnership – Japan’s Invox has teamed up with Regional Creation Co-Design Institute Inc to expand the creation and use of J-Credits from forest management projects in the country, they announced Friday. The two companies said they aim to make it easier to implement J-Credit initiatives in small-scale forests and forests managed by municipalities, without disclosing a potential project size.

And another – A J-Credit partnership agreement has been signed by five organisations in Izumi City, Kagoshima Prefecture to promote carbon neutrality and the circular economy. The signatories include Izumi City, Izumi Mirai Corporation, Kagoshima Bank, Mitsui Sumitomo Insurance, and project developer ByWill. Under this agreement, the organisations will collaborate on providing environmental expertise, creating J-Credits, and developing new businesses and services related to carbon neutrality. ByWill will assist in project registration and credit sales, while Kagoshima Bank will help find buyers for the credits. This initiative is expected to support the local economy by leveraging the region’s natural resources, such as forests and renewable energy, to generate economic and environmental benefits. Izumi City has been actively promoting carbon neutrality since its 2022 “Zero Carbon City” declaration, aiming for net zero emissions by 2050. It has taken steps such as establishing Izumi Mirai Corporation to support renewable energy projects and improving energy efficiency in public buildings. Bywill and Mitsui Sumitomo Insurance have previously worked together on carbon-neutral initiatives, including launching a J-Credit insurance product that compensates for lost revenue due to natural disasters. Kagoshima Bank has also supported environmental value creation efforts in the region.

Planting a seed – Tokyo-listed energy firm JAPEX has decided to invest in a venture capital fund managed by ONE Innovators and collaborate with startups to develop new businesses in the carbon neutral field, according to a company statement released this week. JAPEX has said it will prioritise CO2 underground storage technologies and other CO2 utilisation solutions.

AMERICAS

Apple of my Guy(ana) – US tech behemoth Apple on Friday retired 100,000 jurisdictional carbon credits from Guyana’s forest protection scheme. The retirements were made via the Architecture for REDD+ Transactions (ART) registry under its ‘The REDD+ Environmental Excellence Standard’ (TREES) initiative, according to registry data. The units were 2019-vintage, making them CORSIA-eligible. A corresponding adjustment has not been applied by the Guyanese government. This follows a class action lawsuit announced against Apple last month that alleges that the company misled consumers by marketing its smartwatch as carbon neutral through the use of “ineffective and redundant” offsets from two projects in Kenya and China.

Decarbonisation debate – Michigan’s Ann Arbor Energy Commission postponed a resolution on Friday urging the City Council to implement a carbon pollution impact fee, opting instead to send it to the Building Decarbonisation working group for further review. The proposal comes as 32 new developments in the city have been approved with natural gas connections despite Ann Arbor’s A2ZERO plan to cut GHG emissions. Commissioner John Mirsky highlighted the environmental impact of these buildings, noting their emissions offset a significant portion of decarbonisation efforts. However, legal concerns were raised over whether such a fee would be permissible under existing building codes. The commission will reassess the measure after further evaluation.

Cables and clean energy – Southwire, a US-based wire and cable manufacturer, has partnered with Plug Power, a hydrogen fuel cell systems developer, to integrate hydrogen-powered solutions at its new distribution facility in Dallas-Fort Worth, Texas. Under the agreement, Plug Power will supply over 50 hydrogen-powered forklifts equipped with GenDrive fuel cells, along with a fuelling station and hydrogen sourced from its production facilities. This initiative aims to support Southwire’s sustainability strategy by reducing over 1 mln pounds (454,000 kg) of CO2 annually from its direct operations.

Easy as 123 – A New Hampshire bill that proposed to tax trees used to generate voluntary carbon credits has been approved by state’s House by a vote of 197 to 158. House Bill 123 (HB 123) aims to compensate for revenue losses experienced by municipalities due to reduced timber harvesting, which has resulted from landowners opting to preserve forests for carbon credits rather than cutting trees. New Hampshire traditionally imposes a 10% yield tax on timber at the time of harvest. However, with the rise of offset programmes, landowners are earning money by keeping trees standing, reducing timber harvesting and, consequently, timber tax revenue. HB 123 seeks to amend the state’s timber tax law (RSA 79:3) to include taxation of standing timber on land involved in carbon sequestration initiatives. Supporters argue that the bill is necessary to close a loophole that allows landowners to avoid timber taxes by participating in carbon programmes. They believe municipalities should receive tax revenue from these lands to prevent financial strain on local communities. They also contend that leaving the issue unaddressed creates an unfair economic advantage for carbon sequestration over traditional timber harvesting, which could harm the timber industry and local economies. Opponents, including the Business and Industry Association, the New Hampshire Timberland Owners Association, and Americans for Prosperity, argue that the bill effectively introduces a new tax and could discourage environmental conservation efforts. They claim it unfairly targets landowners who participate in carbon sequestration programmes and that it may be unconstitutional. The bill now moves to the Senate, where its future remains uncertain.

Finally, the triumph – The Triunfo do Xingu Environmental Preservation Area (APA) in Para State – one of the most deforested areas in Brazil – will be the first Brazilian public conservation unit conceded to the private sector for forest restoration and generation of carbon credits. The auction for the concession is scheduled for Mar. 28 at the B3 stock exchange (Brasil 247). Para originally opened a public consultation period regarding this pilot concession at Triunfo do Xingu in Jul. 2024, and then went on to launch its call for tenders in November. The winning tender will have 40 years to recover native forest in an area consisting of 10,300 ha in the municipality of Altamira. It is estimated that such a project would sequester 3.7 MtCO2. The government expects the concession to generate R$1.5 bln ($175 mln), with an estimated return of R$250 mln for private investors. The project is also expected to generate around 2,000 jobs in direct employment. Para’s government has also stipulated that that the winning company must invest R$258 mln in the installation and operation of the project. The Inter-American Development Bank (IDB) is evaluating the possibility of financing guarantees for the project.

New listing – Project developer Karbon-X has announced that its common shares have begun trading on the OTCQB Market under the ticker symbol KARX. The company’s shares are also now eligible for electronic clearing and settlement in the US through the Depository Trust Company (DTC). These developments are expected to enhance visibility, simplify trading, and improve liquidity in the US market, said CEO Chad Clovis, who highlighted the strong demand from US investors for carbon trading and sequestration technology. The OTCQB Market, operated by OTC Markets Group, provides early-stage and growth companies with greater access to US investors.

Soil solutions – Laura Van Eerd has been named the inaugural Charlotte Products Ltd. Chair in Net Zero Soil Management at the University of Guelph, the school announced this week. The position is the result of a C$1.5 mln donation from Charlotte Products, a cleaning solutions manufacturer. Van Eerd is a soil scientist, exploring the impact of cover crops and other sustainable management practices on soil health and crop productivity within agricultural systems, aiming to address challenges in global sustainability. In the new position, Van Eerd intends to continue furthering the understanding of soil management, carbon sequestration, and crop productivity. Along with the team from the Soils at Guelph initiative, Van Eerd will evaluate sustainable agricultural production systems through research and knowledge mobilisation across the Ontario agricultural community and on-farm practices that aim to reduce soil erosion, improve water quality, and enhance carbon and nitrogen stores reducing global warming. Van Eerd will also integrate her research findings into undergraduate and graduate education.

Carbon market training – Employees of the Nature Institute of Tocantins (Naturatins) this participated in a workshop held by the Secretariat of the Environment and Water Resources (Semarh) aimed at training staff involved in the Brazilian state’s jurisdictional REDD+ programme. The initiative aims to promote awareness, deepen knowledge, and develop practical skills aimed at mitigating climate change and participating in carbon markets, with course topics covering topics such as strategy and financial logics aimed at the carbon credit market, market analysis and definition of strategies, negotiation, and preparation of documents. In Friday’s session, participants took part in an exercise on the negotiation of carbon credits, aimed at applying in practice the knowledge acquired in the preceding days. During the simulation, groups were divided between buyers and sellers of carbon credits, and each team had to prepare and present negotiation proposals to the other party, aiming to stimulate strategic thinking and technical dialogue on the subject. The course is being taught by the Ludovino Lopes Sociedade de Advogados office, based in Sao Paulo.

VOLUNTARY

Justice delayed – A US fraud trial against former voluntary carbon project developer C-Quest Capital executive Ken Newcombe has delayed its pre-trial conference to July 2025. Newcombe, who faces allegations of multi-million dollar VCM fraud by the FBI, CFTC, and Department of Justice, was last reported to be in poor health. Newcombe has denied all allegations. C-Quest Capital filed for Chapter 7 bankruptcy in February, as the company wound down following the charges. Senior executives from the company launched Bridge Carbon in Nov. 2024, fully owned by investor Vision Ridge.

​BiocharMW – Automaker BMW Group this week disclosed that it retired 25,000 biochar offsets last year. The move was part of BMW’s broader strategy to achieve net zero emissions by 2050, as detailed in its 2024 ESG report. The company has set ambitious targets, including a 46.3% reduction in Scope 1 and 2 emissions by 2030, compared to 2019 levels. The biochar projects supported by BMW are certified according to independent standards, specifically the CSI C-Sink CO2e standard. Only the portion of biochar with highly permanent carbon storage properties (Persistent Aromatic Carbon – PAC) is counted towards these sequestration efforts. BMW said it has planned the cancellation of further credits totalling between 46,000 and 57,500 tonnes by 2026. These initiatives are voluntary and are not included in the company’s formal emissions reduction targets, though they align with the company’s sustainability strategy.​

Peatland investment returns – Peatland restoration could offer internal rates of return (IRRs) between 5% and 13%, outperforming forest carbon projects due to lower costs and quicker revenue generation, Craig Mackenzie, senior lecturer at the University of Edinburgh, said in a LinkedIn post. A modelled 200-hectare project in Scotland would yield around 60,000 peatland code (PC) units over a century, but large-scale investment remains uncertain, he said. Mackenzie noted that confidence in future demand for PC units is weak, with restrictions on their use in net zero claims and exclusion from the UK ETS deterring buyers.

New seal – Brazilian standard Tero Carbon on Thursday launched its new Land Tenure Compliance Seals, which help assess land tenure regularity for nature-based solutions (NbS) projects. They are integrated into its carbon certification programme. Now, interested projects can apply for certification to achieve Bronze, Silver, or Gold seals as proof of land tenure compliance. The process of developing the assessment tool involved a public consultation with six participants and nine contributions. Tero Carbon also recently announced a partnership with Argentina-based carbon project development platform and marketplace Forestblock to integrate their services and thereby strengthen their positions within the field of Latin American sustainability solutions providers – particularly for the voluntary carbon market.

Concrete partnership – The Gulf Organization for Research and Development (GORD) and the American Concrete Institute (ACI) have signed an MoU to cooperate on achieving sustainability in concrete (Lusail News). The Qatar-based Global Carbon Council (GCC) voluntary carbon standard, a GORD subsidiary, will play an advisory role throughout the process. The GCC will lend its expertise to help develop methodologies that provide financial incentives for reducing CO2 emissions in the concrete sector.

Going underground – Dr. Ning Zeng, founder of Carbon Lockdown and a professor at the University of Maryland, has been granted a US patent (US12198146) for a CO2 removal method involving the burial of woody biomass in engineered underground structures known as ‘wood vaults’. This technique aims to sequester carbon by preventing the decomposition of biomass, thereby mitigating climate change. Zeng has been researching this approach for over 15 years and is credited as the originator of the idea of carbon sequestration via wood burial.

SCIENCE & TECH

MACS and relax – Scientists at a global workshop on Marine Anoxic Carbon Storage (MACS) last month agreed on the urgent need to move beyond laboratory research to real-world trials, as efforts to develop new carbon removal solutions intensify. Over 30 researchers from 25 institutions across 14 countries met in Bucharest on Feb. 4-5 to discuss MACS, a method of storing plant-based carbon in oxygen-deprived marine environments such as the Black Sea and deep-sea sediments. These locations prevent decomposition, potentially locking away carbon for over 1,000 years. With funding from the Grantham Foundation and the EU’s H2020 DOORS Project, the workshop identified key scientific gaps that must be addressed before MACS can be deployed at scale, including environmental risks, storage permanence, and regulatory acceptance. There is consensus among the Workshop participants on the urgent need to advance beyond laboratory studies to in-situ trials, the organisers said in a summary of the discussions. Scientists stressed that laboratory experiments alone cannot determine whether MACS is a viable long-term carbon removal strategy. The workshop recommended pilot studies involving up to 1,000 tonnes of biomass to assess potential risks, such as nutrient leakage causing eutrophication or the release of methane and sulphide gases. Researchers noted that such trials would be closely monitored to evaluate environmental impact while generating data to refine the technology. A consortium of scientists formed at the workshop has already prepared research proposals for coordinated studies at potential MACS sites. If successful, these trials could lay the groundwork for large-scale deployment of MACS as a nature-based carbon sequestration strategy. The initiative has been endorsed as a Decade Activity under the UN’s Decade of Ocean Science for Sustainable Development.

AND FINALLY…

A very private jet – Australian tech billionaire Mike Cannon-Brookes has retreated to LinkedIn to defend his purchase and use of a large private jet given his public work arguing for a more rapid energy transition and steeper cuts to Australian emissions. The Australian Financial Review column Rear Window reported this week Cannon-Brookes is now the “(very) quietly proud owner” of a Bombardier 7500, a long range aircraft that offers a full-size kitchen and can hold up to 19 passengers. “It probably comes as no surprise, I have an extremely rigorous carbon regime for all my flying – including using direct air capture and sustainable fuels for the carbon and contrails, to far exceed my flight footprint,” he wrote on LinkedIn. Cannon-Brookes has invested billions into energy and used his investment vehicle Grok Ventures to buy an 11% stake in Australian power giant AGL Energy to force it to invest more in renewable energy. Australian government records show AGL remains one of the country’s largest polluters, but has cut emissions in the past five years.

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