- The Brazilian state of Sao Paulo is in the final stages of allowing the private sector to access 38,000 hectares of public lands for restoration and the development of carbon and biodiversity credits in the Atlantic Forest, an official told Carbon Pulse.
- 20:37 GMTGhana – the frontrunner in the African carbon market landscape – will move towards the issuance of its first Article 6 credits in the next couple of weeks, an official from the country’s Environmental Protection Agency (EPA) told a conference Wednesday.
- Drill baby drill - US biofuels producer Conestoga Energy completed drilling operations of its first carbon storage well on Wednesday, the company announced. The Class VI well, located near Garden City, Kansas, is engineered to inject 100% of the CO2 generated from Coenstoga’s bioethanol production process, as well as offer the opportunity to store CO2 from third-party sources to generate carbon credits. Once operational, it is expected to store over 150,000 tCO2 annually. Conestoga plans to submit its full Class VI permit application to the US EPA this summer, as Kansas does not have primacy over CO2 storage wells.
- 19:18 GMTPeru will include, by the end of this week, five additional methodologies from the voluntary carbon market (VCM) in its National GHG Emissions Reduction Registry (RENAMI), the country’s top climate official announced on Wednesday.
- 18:20 GMTBon Bonn - Brazil's COp30 presidency sees June's intersessional meeting in Bonn as an opportunity to restore confidence in climate negotiations, accelerate action, and instil a sense of urgency, it said in a statement on Wednesday. The presidency plans to hold at least 12 events over the 10 days, and play an prominent role in plenary and negotiating sessions. It will follow three pillars of work during the SB62 meeting, it said: strengthening multilateralism and the UNFCCC regime, connecting climate decisions to real world lives, and accelerating implementation of the Paris Agreement. Brazil is also proposing a "Day Zero" of informal talks among heads of delegations, before the first day on June 16.
- 17:59 GMT
Flight club - The Sustainable Aviation Buyers Alliance (SABA), a joint initiative of RMI, a US-based energy non-profit, and the Environmental Defense Fund, a US-based environmental advocacy non-profit, launched SAFc Connect, an online platform designed to link corporate buyers with sustainable aviation fuel certificate (SAFc) providers and accelerate decarbonisation in aviation. The platform aims to streamline SAF certificate transactions, support faster procurement, and enable near-term investment aligned with companies' 2030 climate targets. Six providers, including Alaska Air, JetBlue, and Valero, have committed to the platform, with additional participants expected. SAFc Connect built upon SABA’s prior SAFc procurements totalling over $400 mln.
- 17:55 GMTRaise the roof – The California Assembly on Tuesday voted 60-2 to approve amended Assembly Bill 1207 (AB 1207), which aims to adjust the cap-and-trade price ceiling in alignment with the US EPA’s 2023 social cost of carbon (SCC) estimate of $190/tonne. The bill was originally introduced to reauthorise the cap-and-trade programme beyond its 2030 sunset under the current statute, but that language has since been removed. The bill will now be considered in the state's Senate.
- 17:12 GMTA further 275.5 million carbon allowances will be withdrawn from the EU ETS over the 12 months starting this September and inserted into the Market Stability Reserve (MSR), the European Commission announced late Wednesday in its annual 'TNAC' update.
- 16:08 GMTCBAM loopholes - The EU's Carbon Border Adjustment Mechanism (CBAM) is full of loopholes, according to the European Steel Association (EUROFER), which has stressed that the lack of a solution to preserve exports will negatively impact both competitiveness and climate. 70% of EU steel exports currently go to countries with no carbon pricing, so EU exports will be displaced by more carbon-intensive products if this loophole isn't fixed, the organisation has stated. It's calling for free allocation for exports to continue in order to avoid carbon leakage in global markets, and has other requests including to extend CBAM to steel-intensive downstream goods. If loopholes like these aren't fixed, CBAM would undermine decarbonisation investments, speed up deindustrialisation, favour production in third countries, and fail to cut global emissions. (Eurometal)
- 16:07 GMTBenchmark European carbon prices were forced to settle for a small gain on Wednesday as the market initially reacted strongly to funds marginally extending their collective net long position, with strength also fed in from a supportive auction result, before prices eased over the afternoon, while UKAs slipped lower after investors cut their previous-record bullish positioning.
- Plastics made from renewable carbon could achieve negative emissions thanks to durable sequestration, and be cost competitive with fossil-based alternatives were carbon costs factored in, a consultancy has found.
- 15:24 GMTLow risk - Malaysia’s commodities minister expressed concerns on Wednesday about the EU's designation of the country as "standard risk" under the new anti-deforestation law, Reuters reported. According to the minister, the classification was based on outdated data from 2020, as the country has since implemented sufficient measures to deserve a "low-risk" classification. Countries classified as "standard risk" will undergo less stringent compliance checks for goods exported to the EU than those classified as "high risk." In contrast, "low-risk" countries will face even easier due diligence requirements. Indonesia and Brazil have also been designated as "standard risk."
- CCS partners - Heidelberg Materials is partnering with engineering consultancy Arup to decarbonise the built environment, in particular through the use of carbon capture and storage (CCS) in cement production. The two companies will build on what's been learnt at the cement producer's carbon capture project in Brevik, Norway, stated the release this week. They will also advance R&D projects related to CCS-enabled decarbonisation in cement and concrete.
- 14:33 GMTA blockchain-based carbon metadata project has released a new version of its model, which is now available for public consultation.
- 14:26 GMT
The name's bond, Eurobond - The EBRD is investing $50 mln in a Eurobond issued by Çimko Çimento ve Beton Sanayi, a joint stock company based in Turkiye. Çimko, part of the Sanko Holding group, will allocate the proceeds from the $300 mln Eurobond to support its decarbonisation investment programme and for refinancing purposes, Cemnet reports. This issuance is expected to bolster Çimko’s balance sheet and serve as a strong example for other Turkish companies aiming to broaden their access to capital markets. Çimko operates two integrated cement plants in Turkiye: the Narli plant, with an annual cement production capacity of 5 mln tonnes, and the Adiyaman plant, with a capacity of 1.6 mln tonnes.
- 14:03 GMT2C warming – Global warming is expected to grow closer to the 2C average threshold over the coming five years, with a temporary breach potentially occurring in the near term, according to the World Meteorological Organization (WMO). Annual temperatures in 2025-29 are expected to be 1.2C and 1.9C higher than the 1850-1900 average, the WMO said, with the five-year mean likely to exceed 1.5C. Likely consequences of this include a fall in crop yields, and exposure to extreme heat for more than a third of the world’s population. The Paris Agreement aims to limit global warming to well below 2C, and ideally to 1.5C, by mid-century.
- 14:00 GMTPortugal's carbon colonisation – Portugal wants to source carbon credits from its former colonies to meet its climate goals, the country’s environment minister has said. Graca Carvalho said Lisbon should be able to claim credits for emission reduction projects in its former colonies of Cabo Verde and Sao Tome and Principe, even if those credits are not yet formally approved under Article 6 of the Paris Agreement, which creates a global carbon market. (E&E News)
- 13:41 GMTA German court has dismissed a landmark climate lawsuit brought by a Peruvian farmer against energy giant RWE, but an important precedent may have been set where big emitters can be held liable for the impact of their greenhouse gas emissions.
- 13:36 GMTA Malaysian asset management company has partnered with developer South Pole to develop carbon credits across Southeast Asia.
- 13:24 GMTA four-year initiative funded by the Inter-American Development Bank (IDB) is gearing up to set up pilot projects aimed at laying the groundwork for establishing a voluntary market for biodiversity credits in the Dominican Republic.
- 12:45 GMTReaching global net zero emissions remains possible, but only if governments accelerate policy reforms, ramp up clean energy investment, and better align public finance with climate goals, according to research published Monday.
- 12:41 GMTUp and away - Flying electric taxis took a step closer to commercial take off this week after UK firm Vertical Aerospace announced it has made European aviation history with the first piloted flight of a winged electric aircraft in open airspace. The flight marked the first time the prototype VX4 aircraft had flown in normal airspace outside of strict test conditions. The UK Civil Aviation Authority (CAA) approved the flight at Cotswold Airport, the UK’s largest private airport. Vertical Aerospace is among a cluster of companies developing what have been dubbed flying taxis, which can ferry passengers in quiet, zero-emissions aircraft through urban areas. Rivals have undertaken test flights in Dubai and the US, but Vertical Aerospace’s flight is the first time a flying taxi has performed a journey in open airspace in Europe. The aircraft is designed to take off vertically or on a runway, with its propellers either holding it in a hovering pattern or tilting to operate more like a traditional light aircraft, than a helicopter. The UK government has set a target to make flying taxis a reality by 2028. (The Telegraph)
- 12:06 GMTGeothermal energy is racing up the leaderboard for innovation to become a contender as the next technology to transform the energy sector, although oil majors may slow progress after many cut spending on low-carbon projects, analysts have said.
- 11:49 GMTPalm oil credits – Thai biochar producer Wongphai has expanded its operations to palm oil, hoping to generate carbon credits by converting residues from palm oil production into biochar, the company announced on LinkedIn. Biochar can eliminate open burning, restore soil fertility, store carbon, and support sustainable tourism and farming, the statement said. The company recently launched its first palm oil biochar pilot in Krabi. Thailand is the third largest palm oil producer in the world. WongPhai began its operations in Jan. 2023 and works with local bamboo marketplaces to stop the hazardous burning of bamboo offcuts, which is usually decomposed in a pile or is burned in open bonfires, creating pollution.
- 11:47 GMTThe UK government has announced a consultation on reducing its biodiversity net gain (BNG) requirements for smaller sites, in changes that market stakeholders have said could eliminate demand for off-site units.
- 11:04 GMTBlue ESG Dragon - Vietnam's financial sector is accelerating its shift toward sustainable and green economic development, driven by government initiatives and rising private sector engagement, Reccessary reports. In 2024, a record 33 financial institutions released sustainability reports, with more than 10 publishing dedicated ESG disclosures. The State Bank of Vietnam highlighted progress but also noted challenges, including legal gaps and data limitations, urging greater use of AI and digital tools. Green lending is growing steadily, with outstanding green credit surpassing VND 704.2 trillion ($27.1 bln) across 58 institutions in Q1 2025 - a 3.5% rise from the previous quarter and an average annual growth rate of 21.2% over seven years. However, green loans still account for just 4.2% of total credit. The government has approved a 2% interest rate subsidy for businesses aligned with ESG or circular economy goals, and is developing a national green taxonomy, expected by year-end. Experts view sustainable finance as a key innovation driver in Asia, with Vietnam positioning itself for continued momentum despite broader macroeconomic concerns.
- 10:48 GMTAustralian researchers have found that livestock farms can transition to net zero emissions by 2050 while boosting profits, but only if mitigation measures are bundled and tailored to local conditions.
- 10:28 GMTLeaving the post - In Malaysia, Minister of Natural Resources and Environmental Sustainability (NRES) Nik Nazmi Nik Ahmed has resigned after he failed to secure his post in recent party elections, he announced in a LinkedIn post on Wednesday. Nik Nazmi’s tenure saw many reforms in the environment sector in Malaysia, including amendment of the Environmental Quality Act 1974 and strengthening environmental impact assessment requirements. Malaysia also became one of the earliest countries to submit its National Biodiversity Strategies and Action Plan (NBSAP), Nik Nazmi said. Malaysia’s National Climate Change Bill is now in the final stages of being tabled to the cabinet and parliament, which will provide a foundation for the domestic carbon market.
- 10:26 GMTA clean cooking funding initiative in Africa plans to expand its reach and will select the first companies through a second funding round by the end of June, with carbon finance also helping to fund its work.
- 10:24 GMTA paper released on Tuesday called on sports organisations to assess their direct and indirect impacts on nature to mitigate biodiversity-related risk and align with global regulations and targets.
- 10:22 GMTA carbon removal crediting body has unveiled a draft method for carbon removal (CDR) via direct ocean capture and storage (DOCS), which is now open for public consultation.
- 10:00 GMTStandards body and registry Verra announced a long-term partnership Wednesday in support of the organisation’s efforts to automate and digitise project development for the voluntary carbon market (VCM).
- 09:24 GMTJapan's parliament on Wednesday enacted an amendment to the country's green transformation law, making it mandatory for companies with annual CO2 emissions of 100,000 tonnes or more to participate in the national emissions trading system from FY2026.
- Shareholder push - 11 institutional investors worth a combined $1.8 trillion will ask Yara International to set upstream emission reduction targets that cover its purchase of fossil-based raw materials, during the company's annual general meeting on Wednesday morning. ShareAction will read a statement on behalf of these investors, the non-profit wrote in an emailed press release. The statement was signed by Edentree Investment Management, Ethos Engagement Pool International, Ethos Engagement Services Clients, Ethos Foundation, Greater Manchester Pension Fund, M&G Investments, MN, Pensionskasse Basel-Stadt, PGGM, PIRC, and Swiss Life Investment Management Holding AG. Major investors are increasingly focusing on the climate impact of the fertiliser industry. Since 2021, investors have been calling on the Norwegian fertiliser company to set science-based Scope 3 emissions reduction targets across the whole of its value chain. Fertiliser production and use accounts for 5% of global GHG emissions.
- 09:00 GMTRevised methodologies under the EU Carbon Removals and Carbon Farming (CRCF) framework still fundamentally lack integrity, market experts said on Wednesday, arguing that those being developed under the new Article 6 Paris Agreement Crediting Mechanism (PACM) look likely to be better.
- 08:54 GMTCarbon markets seek to incentivise climate action by attaching financial value to emissions reductions, but a senior research scholar at Stanford has instead proposed shifting to a system where carbon emissions are treated like long-lived financial liabilities.
- 08:26 GMTICROA backing - The Social Carbon Foundation has announced that the Social Carbon standard is now officially endorsed by ICROA – the International Carbon Reduction and Offset Alliance. The development signals that the standard meets the highest benchmarks for environmental and social co-benefits, and is committed to high integrity, transparency, and positive impact in carbon markets, the organisation stated on LinkedIn.
- 08:24 GMTGreen steel is likely a long way off from being a commercially viable product, but producers could take a range of steps now to begin cutting emissions that would barely affect their bottom line, a conference in Singapore heard this week.
- Dollars for marine CDR - Non-profit Carbon180 has opened up a funding opportunity for environmental organisations interested in exploring ocean-based carbon removal. Candidates are asked to apply here before the deadline of June 20. The award amount is a capacity-building grant of $100,000 and US-based organisations focused on marine, ocean, and water issues who want to learn more, or are already working on, carbon removal are particularly welcome.
- 06:19 GMTEU member states are roughly on track to meet their 55% greenhouse gas emissions reduction goal for 2030, after improving their climate plans following recommendations from Brussels, the European Commission announced on Wednesday.
- 05:19 GMTThe Australian government has approved a proposal to extend Woodside Energy’s North West Shelf (NWS) gas facility to 2070, it announced Wednesday.
- 05:01 GMTActive private sector projects financed by the Asian Development Bank (ADB) have avoided 23.5 million tonnes of CO2 equivalent annually as of the end of 2024, according to an internal review of its activities.
- 04:40 GMTMitsui OSK Lines (MOL) has become the first in Japan's shipping sector to retire technology-based carbon removal credits, it announced Wednesday.
- 04:02 GMTSAF project - SAFasia and Emerging Fuels Technology have signed an MoU for the implementation of sustainable aviation fuel (SAF) production projects in the Philippines, according to a company statement. These projects will make use of biogas produced from agricultural waste as feedstock and incorporate a reactor solution developed by Germany-based Caphenia. They will serve as the foundation for planned SAF plants across the Philippines and Southeast Asia, the statement said.
- 04:01 GMTCoalition - The Taiwan Stock Exchange (TWSE) has launched an initiative aimed at creating nature-based carbon sinks, according to a statement released this week. TWSE said it will join hands with government agencies like the environment and agriculture ministries to promote locally-created carbon sinks and biodiversity conservation, encouraging listed companies to pursue sustainability. No specific credit purchase targets were given in the release.
- 02:07 GMTMissed the boat – The IMO’s draft framework for net zero emissions in shipping will lead to a significantly lower carbon price than what is needed to decarbonise the sector, said University College London Energy Institute professor Tristan Smith in an interview with RNZ. Smith said the proposal – which will see ship operators pay a fee for missing their fuel intensity targets – leads to a de facto price of around $15 per tonne, far below the $100-150/t that he said is needed. Smith added that Pacific Island nations were left wanting by the final deal, as they had pushed for a tougher programme with higher costs, of around $150/t. Nonetheless, Smith said the framework was significant and the world’s first global carbon price.
- 02:04 GMTPeer pressure – Officials warned New Zealand climate minister Simon Watts last year to expect scrutiny from other governments of a huge shortfall in its plans to meet its NDC. Government documents released to RNZ under the Official Information Act showed that Watts was warned last year about the lack of plans to meet the 84 mln shortfall in the country’s plan, due to its failure to commit to buying units from overseas via Article 6. The officials also highlighted to the minister cabinet decisions to use overseas credits dating back to 2015 – the year the Paris Agreement was signed, for which New Zealand was a key proponent of the inclusion of market mechanisms and international collaboration. Opposition climate spokesperson Megan Woods told Carbon Pulse in December that the winding back of policies to address gross emissions in the government’s second emissions reduction plan, released the same month, means it would have to rely more on overseas credits. Last week, non-profit Lawyers for Climate Action NZ said the government’s 2025 budget shows it is not serious about meeting its NDC, as no funding had been allocated to purchasing units to cover its shortfall.
- 01:49 GMTCanada’s finance minister this week tabled a motion to remove the consumer carbon tax from law, formalising Prime Minister Mark Carney’s earlier move to zero out the levy.
- 00:51 GMTThe New Zealand government has put forward the option to ignore advice from the Climate Change Commission (CCC) to boost auction volumes at the end of the decade, in its annual consultation on ETS price controls and settings.
- 00:17 GMTProject partnership - Australian tech company NoviqTech has announced a project partnership with battery recycling company Livium, The partnership between the two ASX-listed companies will support the tokenisation of environmental benefits of Livium's advanced battery recycling operations via NoviqTech's Carbon Central platform, the company said. Livium's recycling process recovers critical minerals from batteries at the end of their life, reducing the need to mine new materials and generate subsequent emissions. NoviqTech's Carbon Central platform will track mineral recovery and emissions to generate tokenised attributes and support compliance with evolving global regulations on battery traceability and carbon emissions reporting, it said.
- 00:06 GMTUS engineers say they can improve direct air capture (DAC) efficiency six times by adding an intermediary step in the DAC process.
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