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TOP STORY
Brussels outlines upcoming EU ETS changes, granting industry €6 bln in extra free allowances
The European Commission will propose a targeted amendment to the EU Emissions Trading System (ETS) next week that is expected to provide industry with an additional €6 billion worth of free carbon allowances over the 2026-30 period, while outlining other elements of the reform meant to give more leeway for industries to continue emitting into the 2040s, also clarifying that some 400 million permits as part of an ‘Investment Booster’ will not be monetised.
DAILY NEWS TICKER
CP Daily News Ticker: 8 July 2026
The CP Daily News Ticker is a running list of all our news updated in real-time throughout the day. This is also the home to our ‘Bite-sized updates from around the world’, which previously featured in our CP Daily newsletter.
EMEA
Seven EU countries issue last minute call to strengthen the EU’s carbon market
Spain, Denmark, Finland, Luxembourg, the Netherlands, Portugal, and Sweden issued a joint statement on Wednesday calling to strengthen the EU Emissions Trading System (ETS), including aligning the rate at which emissions are cut annually in the ETS with the bloc’s 2040 climate target of reducing net emissions by 90%.
Brussels still considering whether to include international credits in EU ETS
The European Commission is weighing whether to give international carbon credits a narrow, delayed role in the EU Emissions Trading System (EU ETS) after 2035, as senior officials insist they will not be allowed as standard compliance units for regulated companies.
Euro Markets: EUAs drop sharply after Commission reveals planned 2027 boost in supply
European carbon prices fell sharply on Wednesday as the European Commission announced some details of its reform package that suggested a boost in supply from as early as next year, after earlier having posted modest increases despite US President Donald Trump announcing that the ceasefire with Iran was over.
BRIEFING: EU plan to extend carbon market to departing flights hits turbulence
The European Commission remains divided over whether to include emissions from departing flights in the EU Emissions Trading System (ETS) as part of the upcoming overhaul of the bloc’s carbon market, an official said Wednesday.
Seven EU countries issue last minute call to strengthen the EU’s carbon market
Spain, Denmark, Finland, Luxembourg, the Netherlands, Portugal, and Sweden issued a joint statement on Wednesday calling to strengthen the EU Emissions Trading System (ETS), including aligning the rate at which emissions are cut annually in the ETS with the bloc’s 2040 climate target of reducing net emissions by 90%.
Norway weighs up whether to join EU ETS2
Norway is seeking public views on whether it should ask to become a part of the EU’s incoming ETS2 for road transport and heating fuels.
BRIEFING: EU revamps pilot heat auction in test run for future Industrial Decarbonisation Bank
The European Commission is overhauling its pilot auction for industrial heat decarbonisation, after last year’s first round drew strong interest on paper but ended up using less than half of its €1 billion budget – a result Brussels now frames as a warning for the future EU Industrial Decarbonisation Bank.
EU regulators should require climate buffer for banks’ high-carbon lending -report
EU supervisors should require banks to hold extra capital against fossil fuel and other high-carbon lending, as climate-related financial risks remain underpriced, according to a report released Tuesday.
European Parliament blocks EU bid to strip soy biofuels of green label
The European Parliament on Wednesday blocked a European Commission proposal that would have stripped soy-based biofuels of their renewable status.
UK to extend nuclear power plant lifespan by 20 years
The UK government has struck an initial deal to extend the life of an existing nuclear power plant by 20 years, which it says will ensure large volumes of clean electricity and skilled jobs.
Drax biomass power plant was the UK’s largest emitter for 11th year running
The UK’s largest biomass power plant – the Drax biomass station – was the country’s heaviest emitter for the 11th year running in 2025, with record emissions of 14.1 million tonnes of CO2e, according to analysis by a think tank.
Carbon project pathway under review for Kenya land restoration, biomass initiative
A proposed Kenya land restoration and renewable biomass initiative could advance into carbon project development if a new feasibility assessment finds it technically and commercially viable, a Canada-based carbon offset provider said on Wednesday.
Environmental groups urge DRC to pause carbon market law, warning over governance risks
Environmental groups in the Democratic Republic of the Congo (DRC) have called on the government to halt its proposed carbon market legislation, warning that the draft law risks undermining existing governance reforms and investor confidence by advancing without sufficient consultation.
Irish native woodland project enters verification process ahead of first carbon credits
An Irish native woodland restoration project has entered independent third-party validation under the Origin Xero Carbon Programme, marking another step towards the issuance of what its developer says will be verified domestic carbon credits and highlighting progress in Ireland’s nascent voluntary carbon market.
German EU ETS emissions drop 3% as industrial output weakens -report
Germany’s emissions from power and industrial plants covered by the EU ETS fell by 3.2% in 2025, as weaker industrial output and reduced lignite-fired power generation outweighed higher hard coal and gas use, a German government report published Tuesday said.
AMERICAS
PJM power price surge drives RGGI futures to $48
A substantial increase in prices in the power market for US regional transmission operator PJM pushed RGGI Allowance (RGA) futures prices to levels around $48 on Thursday, market participants told Carbon Pulse.
California regulator issues largest volume of offsets since March
California regulator ARB made its largest issuance of offsets since March, boosting the total sum of mine methane capture (MMC) offset credits to over 1.4 million, according to data released on Wednesday.
BRIEFING: Chile’s low CO2 tax rate excluding REDD+ credits, unlikely to rise
Chile’s Ministry of Environment (MMA) is actively courting REDD+ projects to diversify the portfolio of carbon credits used to offset its CO2 tax – but the low $5 per tonne tax rate can make it economically inviable to integrate them.
Mexican state signs agreement to explore jurisdictional ART carbon programme
A Mexican state has signed an agreement to assess the development of a jurisdictional forest carbon programme under the Architecture for REDD+ Transactions (ART) TREES standard covering almost 3 million hectares, it announced this week.
Colombia’s incoming environment minister vows carbon market revival, reversing outgoing government’s measures -media
Colombia’s incoming environment minister has pledged to revive the country’s carbon market by reversing key policies introduced under the outgoing administration, including a cap on the use of carbon credits to offset the national carbon tax and controversial draft regulations governing carbon projects.
ASIA PACIFIC
Indonesia’s new registry clears voluntary carbon exports without authorisation
Indonesia has issued new rules allowing some carbon credits to be traded overseas without government authorisation or corresponding adjustments, while setting out a framework for international standards to operate within the country’s revamped registry system due to be launched later this week.
SK Market: KAU auction sells full volume as price retreats
South Korea’s environment ministry sold all 2.83 million KAU-25 permits on offer at its latest auction at a clearing price of KRW 25,400 ($16.75) each, according to data from the Korea Exchange (KRX).
Corporate buyers commit to 635k carbon removals from Indonesia restoration project
Two major corporate buyers have agreed to purchase more than 635,000 carbon removals over 10 years from an agroforestry project seeking to restore 6,000 hectares of degraded land in Indonesia’s Sulawesi, the project developer said.
New Hong Kong carbon platform aims to unlock mainland China credit flows and finance
A Hong Kong-based carbon market platform and financing facility, backed by the Global Carbon Council (GCC), launched on Wednesday with the signing of a memorandum of agreement (MoA) between the parties at IETA’s Asia Climate Summit.
Singapore-based spot assessor, futures exchange link up to ease carbon trading
A Singapore-based price assessment platform has linked up with a futures exchange to ease trading hedging risk in carbon markets, it was announced Wednesday.
Temasek sustainability portfolio value grows to S$49 bln, maintains net zero goal
Singapore sovereign investor Temasek recorded 7% year-on-year growth in its sustainability portfolio value to S$49 billion ($37.8 bln) and opted to maintain its focus on enabling carbon market solutions as a pillar of its net zero goal, according to financial year-end figures published on Wednesday.
Wind, solar investors say Australian becoming less attractive
Renewable energy investors’ faith in Australia’s clean energy transition is faltering, according to a survey published Wednesday, citing transmissions buildout delays and impacts on proposed tax reforms among others.
Public investor, asset managers launch Tasmanian forestry platform
An Australian government-owned climate investor and two asset managers have launched a A$142 million ($98.5 mln) natural capital platform in Tasmania.
Scientist questions integrity of NSW forest credit method
Former CSIRO Chief Scientist John Raison has told Climate Minister Chris Bowen that Australia’s new native forest carbon credit method risks undermining the credibility of the ACCU scheme.
VOLUNTARY
CDR MONTHLY: Market consolidates after SBTi update provides long-term boost
June saw the durable CDR market consolidate as developers digested an announcement from the Science Based Targets initiative’s (SBTi) that will see a demand boost in the long term, as monthly contracted tonnes fell to around 350,000 tonnes in deals.
Researchers propose new framework to classify carbon credits by mechanism rather than project type
A group of German researchers has proposed a new framework for classifying carbon offset projects based on the underlying mechanisms by which they reduce or remove greenhouse gases, arguing that existing taxonomies obscure important differences in project quality and accounting approaches while lumping together fundamentally different activities.
Carbon market “co-benefit premiums” could steer finance towards higher-impact nature projects -researchers
Adding “co-benefit premiums” to carbon markets to reward nature-based climate projects that deliver measurable adaptation, biodiversity, and social benefits alongside carbon sequestration, could redirect investment towards higher-impact projects that are currently overlooked.
Scaling CDR alongside emissions cuts could halve 1.5C overshoot, study finds
A climate strategy that scales carbon removal (CDR) alongside rapid emissions cuts could reach net zero CO2 seven years earlier than pathways that prioritise either removals or decarbonisation alone, but would face a major geological storage constraint, according to a recent study.
INTERNATIONAL
Paris Agreement Article 6 registries on track for year-end launch
The two registries that will operate the Paris Agreement’s Article 6 mechanism will be operational by the end of this year, the UNFCCC said Tuesday.
Investment into GHG removal tech slumps 49% YoY in first half of 2026 -report
Investment into GHG capture technologies shrunk 49% year-on-year (YoY) in the first six months of 2026, finds a new report.
Researchers urge rethink of Paris ‘well below 2C’ target interpretation to avoid ambition drift
Climate researchers have proposed a new way of interpreting the Paris Agreement’s commitment to keep global warming “well below 2C”, arguing that the widely used practice of expressing the target as a probability of staying below the threshold could gradually weaken climate ambition as scientific uncertainty declines.
Researchers propose independent climate boards modelled on central banks to shield carbon pricing from politics
Governments should delegate control over carbon pricing to independent climate institutions modelled on central banks in order to insulate long-term emissions policy from electoral cycles and provide greater certainty for investors.
International think tank publishes simulator to support governments designing carbon market frameworks
An international advisory company and think tank announced on Tuesday a new scenario-based simulation model to help governments designing their own carbon market frameworks.
Rich countries overstated “true value” of climate finance to poorer countries in 2024 by ~$100 bln, says non-profit
Wealthy countries inflated the “true value” of climate finance they provided to low- and middle-income countries in 2024 by about $100 billion, with some 65% of the total delivered as loans, many on market terms, according to a non-profit.
AVIATION/SHIPPING
CORSIA credit tenders launched on behalf of airlines
Two tenders have been published for carbon credits under the UN’s Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) on behalf of airlines searching for nearly 600,000 tonnes of CO2e.
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