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TOP STORY
ANALYSIS: EU will need over 140 mln Article 6 credits to meet 2040 climate goal, experts say
Analysts estimate that the EU will require between 140 and 150 million international carbon credits to meet its new 2040 climate target – potentially rising to 1 billion tonnes of CO2 equivalent depending on the calculation method – though the European Commission has yet to specify how these volumes will be determined.
*NEW* DAILY NEWS TICKER
CP Daily News Ticker: 7 July 2025
Introducing the CP Daily News Ticker, a running list of all our news updated in real-time throughout the day. This is also the new home of our ‘Bite-sized updates from around the world’, which previously featured at the bottom of our CP Daily newsletter.
EMEA
Ghana issues first Article 6 units, transfers nearly 12,000 ITMOs to Swiss body
Nearly 12,000 verified carbon units have been confirmed by Ghana and Switzerland under their bilateral Article 6.2 agreement, precipitating issuance of these Internationally Transferred Mitigation Outcomes (ITMOs) intended for use toward Switzerland’s Paris Agreement targets.
Euro Markets: Carbon retreats as sellers test technical support but market seen waiting for tariff news
The week got off to a quiet start after the July 4 public holiday in the US had robbed the market of much of its liquidity, but the start of a new week looked to be continuing the quiet trend, as EUA prices declined amid low volume and natural gas prices were little changed as the market eyed this Wednesday’s deadline for tariff negotiations between the EU and US.
18 EU countries call to simplify deforestation rules – but companies disagree
Two-thirds of EU countries have urged the European Commission to include the EU Deforestation Regulation (EUDR) in its efforts to simplify existing policies – but major companies countered that making changes to the new rules would only add uncertainty.
UK’s sovereign wealth fund backs CO2 transport pipeline
The UK’s National Wealth Fund is investing nearly half the equity raised for a CO2 pipeline that is part of a planned carbon capture and storage cluster in the country’s cement and lime production hub, it announced on Monday.
DATA DIVE: Mind the gap – EU falling short on CO2 storage capacity target
Oil and gas companies across the European Union are currently falling short of their obligation to provide 50 million tonnes of CO2 storage capacity annually by 2030, according to a tally of announced and approved projects across Europe.
French govt advisors value climate action at €256/tCO2e in 2025
A French government advisory body has increased its official benchmark value for climate action, setting a higher price tag on CO2 abatement as the country progresses towards climate neutrality.
INTERVIEW: Carbon will provide the spine of UK nature markets
Carbon benefits are likely to provide the core structure for the development of UK nature markets across areas including biodiversity and water, according to an executive at the UK Woodland Carbon Code.
UK government institute says it committed more than £700 mln to climate finance assets last year
The UK’s development finance institute labelled 41% of its 2024 commitments as climate finance in its latest report, marking an increase from the previous year’s percentage, but a decrease from 2022.
Danish carbon removal developer sells 3 mln credits to Microsoft
A Danish developer has agreed to sell nearly 3 million credits to Microsoft from a waste-to-energy carbon capture storage retrofit project, it announced Monday.
Finnish government announces forestry reforms to boost carbon sinks
Finland’s agriculture ministry unveiled a package of measures last week to enhance forest growth and carbon sequestration in support of the country’s 2035 net zero goal.
EU pushes China to step up climate ambition before possible joint climate pledge -media
The EU is refusing to sign a joint climate pledge with China unless it commits to greater efforts to cut its greenhouse gas emissions, the Financial Times has reported.
AMERICAS
US emissions to rise by nearly 1 bln tCO2 by 2035 under OBBBA -report
The One Big Beautiful Bill Act (OBBBA) signed into law last week by President Donald Trump will increase US emissions by at least 348 mln tonnes of CO2e by 2030 and by nearly 1 billion tCO2e in 2035 relative to scenarios created under the previous administration, according to Princeton University researchers.
New entities join Washington’s cap-and-trade programme in Q2
The number of compliance or opt-in entities registered with active accounts in Washington’s cap-and-trade programme ticked up in Q2, figures from the state’s Department of Ecology (ECY) showed.
RGGI Market: RGAs continue to retreat following release of Third Program Review results
RGGI allowance (RGA) futures continued to decline Monday – albeit at a slower pace – in the wake of the release of Third Program Review, with market participants saying weather-driven demand could provide some immediate support to prices despite the overall short-term, somewhat bearish nature of results.
Apple moves to dismiss climate lawsuit challenging carbon neutrality claims
Tech giant Apple filed a motion last week to dismiss a class action lawsuit claiming the tech company misled consumers by advertising certain products and operations as carbon neutral.
California regulator orders offset vendor to refund customers over hidden markups
California’s Department of Financial Protection and Innovation (DFPI) has ordered a Texas-based carbon credit seller to refund more than $68,500 to state consumers and businesses after finding the company failed to disclose significant markups.
CFTC: Producers reduce net length across North American carbon markets, managed money moves in opposite directions
Producers reduced their California Carbon Allowance (CCA), RGGI Allowance (RGA), and Washington Carbon Allowance (WCA) net length at the end of June, as managed money moved in the opposite directions, the latest figures from the Commodity Futures Trading Commission (CFTC) showed on Monday.
LATAM Roundup: ‘Nothing ventured, nothing gained’ amid ambitious policy bets
Latin American and Caribbean players last week balanced economic and legal risks against decarbonisation rewards in agriculture, carbon methodologies, emissions trading systems (ETS), voluntary market (VCM) regulations, and human rights.
ASIA PACIFIC
ERAC consults on whether to remake four sunsetting ACCU methods
Australia’s Emissions Reduction Assurance Committee (ERAC) has launched consultation on whether four Australian Carbon Credit Unit (ACCU) methods should be remade or not, it announced Monday.
Forestry strategy pushes for more versatile ACCU methods
Developing a carbon credit method for wood products used in the built environment was among the recommendations in an industry-government strategy published Monday.
Developer rejects double counting allegations in cookstoves project, cites full compliance
An Indian developer on Monday strongly refuted allegations of double counting or the issuance of ineligible carbon credits associated with a project that was suspended under Verra’s Verified Carbon Standard (VCS) last month.
Restricting ACCU offset use could drive low-carbon liquid fuel boom -report
Australia could lower its emissions footprint from liquids fuel use and improve long-term fuel security if it mandated Safeguard Mechanism facilities to make on-site emissions cuts instead of using Australian Carbon Credit Units (ACCUs), a paper said Monday.
Japan seeks feedback on J-Credit methodology reviews
Japan’s environment ministry is seeking public comments on four offset methodologies under the country’s domestic J-Credit programme.
NZ farm-to-forestry legislation fails to stack up on multiple fronts, critics say
A legislative proposal to restrict the volume of farmland being converted to forest in the NZ ETS is flawed and risks leading to perverse outcomes, stakeholders have warned, however what is considered as such depends on who you ask.
VOLUNTARY
VCM Report: Healthy pace of retirements continues, but carbon credit prices slip lower
Voluntary carbon credit retirement levels kept up a healthy pace last week, but secondary market prices still drifted lower amid thin trade as the summer holiday period beckons.
Climate tech company raises $8.5 mln to expand forest carbon monitoring activities
A tech outfit measuring forests and ecosystems via satellite on Monday announced it has raised $8.5 million in a Series A funding round led by Berlin-based venture capital company.
Steel slag increases CO2 capture as ERW feedstock -study
A recent US field trial seeking evidence of carbon dioxide removal (CDR) in enhanced rock weathering (ERW) may make a promising case for increasing CO2 storage in croplands via steel slag.
INTERNATIONAL
BRICS pushes back on CBAM, backs common carbon market framework
The BRICS bloc of emerging economies formally endorsed their carbon markets partnership and again opposed unilateral carbon border adjustment mechanisms (CBAMs) and deforestation policies in a strongly worded joint declaration on Sunday.
FEATURE: Higher defence spending could benefit low-carbon technologies like e-fuels
The steepest rise in global military expenditure since the end of the Cold War could spill over into higher investment for low-carbon technologies such as e-fuels and battery storage, which offer a potential for the military to improve resilience and cut emissions, experts say.
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COMPLIMENTARY REPORTS
CBAM: Break for the Border (Mechanism) – To what extent are the European Union’s top trading partners ready for embedded emissions reporting and how can this risk their compliance with EU CBAM? Wood Mackenzie’s Carbon Management experts share insights on the EU led global growth of CBAMs and how companies can be better prepared for upcoming compliance challenges and unique MRV requirements. Click here to access this complimentary report
Designing Carbon Registries for Success –Â Carbon registries are key to enhance environmental market integrity and transparency. S&P Global Commodity Insights’ whitepaper offers insights into technology options for countries to engage in carbon markets, including independent standards and national programs, emphasizing the need for interoperability to prevent double counting and streamline data exchange. It helps guide market participants on considerations for alignment with Article 6 of the Paris Agreement, which facilitates international cooperation in climate action through market-based mechanisms. It features case studies from countries like Ghana and Singapore, showcasing strategies for maximizing carbon credit utilization and advocating for adaptable registry designs to support nations’ low-carbon transitions. Click here to access this complimentary report
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JOB LISTINGS THIS WEEK
- Greenhouse Gas Emissions and Verification Program Specialist (Environmental Planner 4), WA State Department of Ecology – Lacey, WA
- *Director, Conservation Finance, The Nature Conservancy of Canada – Canada (Flexible)
- *Environmental Markets Correspondent, Carbon Pulse – Toronto/Vancouver
*Premium listings
See all listings or post a job
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EVENTS
Carbon Forward Expo London: Oct. 7-9, London – Europe’s premier carbon markets conference. Our flagship event takes place in London once again, and will celebrate its 10th year analysing global carbon markets. Over three information-packed days, we’ll bring you leading experts, thought-provoking content, trailblazing organisations, lively discussions, and innovative thinking across the compliance, voluntary, removal, and renewable energy markets. This year’s edition will feature more side events, workshops, and our inaugural Startup Pitch Hub! More details and a call for proposals to follow. Super Early Bird discounts now available. Register
Carbon Forestry 2025: Aug. 19-20, Rotorua – The 2025 Carbon Forestry Conference draws foresters, managers, advisers, and lawmakers to discuss policy and market changes. Director John Stulen calls it a vital forum for the sector. Key topics include the Climate Change Commission’s latest advice on NZ ETS unit limits and price controls for 2026-30, aiming to restore confidence in emissions trading. Also central is the ‘Alt-F Reset’ report from the Parliamentary Commissioner for the Environment, which raises new, sometimes counterintuitive, ideas for land use adaptation. The event will shape future forestry and climate policy in New Zealand. Register
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