Swedish investment company Crown Energy has expanded its backing of Kaya Climate Solutions, an Angola-based developer of nature-based carbon projects, as part of its strategic pivot away from fossil fuels and into sustainable markets, the company said in its 2024 annual report.

A recently formed coalition of California infrastructure businesses and labour union groups laid out their funding priorities from cap-and-trade auction revenues as lawmakers work on programme re-authorisation.

A different kind of green spin - Heineken is scaling up its forest restoration work in Brazil through a new business-minded approach that could serve as a model for climate-positive operations in the corporate sector, Capital Reset reports. Although the Dutch brewer began planting trees in Brazil three years before it launched local operations in 2010, its commitment has evolved from philanthropic support to a structured green investment strategy. The launch of Heineken Spin in 2024 - a dedicated unit focused on forests, renewable energy, glass recycling, and social impact - marks a pivot towards financially sustainable environmental action. By early 2026, Heineken will have planted 860,000 trees in Brazil, more than it had in the previous 17 years combined. The push is driven by Spin’s aim to balance impact with financial discipline: it received an initial R$150 mln ($26.2 mln) investment and is expected to operate without further capital injections. Projects are now designed backwards from key performance indicators, including water replenishment and carbon removal, to ensure long-term viability. The reforestation programme, developed with agroforestry firm Rizoma Agro, is restoring 830 hectares in Itu, Sao Paulo. Half will be completed by early 2026. Around 100 hectares will also be used for organic lemon farming, boosting local ecosystems and contributing to water infiltration thanks to the trees' deep root systems. Heineken expects these efforts to generate 997 mln cubic metres of water over five years - 50% more than its local operations will consume - and remove 500,000 tonnes of CO2 over 25 years. These climate benefits will be used to reduce the company’s global emissions footprint, rather than being sold as carbon credits, as it targets net zero by 2040.

A Brazilian community association has accused a local carbon offset project developer of harassment and unauthorised use of traditional lands in the Amazon, escalating tensions over benefit-sharing the country’s jurisdictional REDD+ (J-REDD+) schemes.

Overruled - The Attorney General of Brazil's Para state and his predecessor took actions that effectively overruled lower-level prosecutors and supported the state government's push to advance controversial COP30-related projects - including environmentally damaging roadworks and a high-value carbon credit agreement, Folha de S.Paulo reports. At the centre of the conflict is the expansion and extension of Rua da Marinha, a major avenue in Belem that borders Amazonian vegetation. Although a lower court initially halted the project due to environmental concerns, including the removal of over 60 tree species - some endangered - the decision was overturned in higher court. Then-Attorney General Cesar Mattar Jr. supported the state’s position in court, contradicting an earlier request for suspension filed by local prosecutors from the Ministerio Publico do Estado do Para (MPPA). The project is part of the state’s infrastructure plan ahead of COP30, which Belem will host in November, and is funded in part by a R$248.5 mln ($43.4 mln) loan from Brazil's development bank BNDES. While the city government refused to grant an environmental licence for the project, citing its ecological impacts, the state overrode that decision - a move accepted by both the courts and the development bank. In a separate matter, current Attorney General Alexandre Tourinho intervened to counter a recommendation made jointly by state and federal prosecutors (MPPA and MPF) calling for the cancellation of a R$1 bln offset deal with the LEAF Coalition. The deal involves the future sale of jurisdictional carbon credits by Para’s state environmental asset company, CAAP. The prosecutors warned that the contract could amount to an illegal advance sale of carbon credits under Brazil’s new carbon market law, and that it was signed without proper consultation with traditional communities, including Indigenous and quilombola groups. Tourinho requested that the recommendation be suspended, citing the need for legal certainty and market stability. The National Council of the Public Prosecutors’ Office (CNMP) subsequently froze the recommendation and scheduled a conciliation hearing. The state argues the agreement is a lawful preliminary agreement with no payment due before emissions reductions are verified, and has pledged to begin consultations with affected communities. Critics, however, maintain that both the roadworks and carbon deal show how Para's prosecutors' leadership has acted to shield the state government from environmental accountability ahead of COP30.

Brazil’s Supreme Federal Court (STF) has signed an agreement with a local carbon offset firm to compensate for all greenhouse gas emissions linked to the institution's operations in 2023 and 2024, as part of broader efforts to decarbonise the country’s judiciary.

Maine has enacted a new law requiring forest landowners to report their participation in carbon credit programmes, becoming the second US state to establish a public tracking system for forest-based offsets.

No demand - Ryanair has quietly discontinued its passenger carbon offsetting scheme and carbon calculator, citing low uptake, The Irish Times reports. The airline had allowed passengers to pay a small fee to fund environmental projects, but participation never exceeded 3%. The initiative raised over €3.5 mln by 2022 and supported projects including Renature Monchique – a reforestation project in the Algarve; the distribution of energy-efficient cookstoves in Uganda by First Climate; Balikesir’s Wind Power Plant Project in Turkey, and Improved Kitchen Regimes in Malawi powered by CO2 Balance (the latter two in partnership with Shell). Despite promoting itself as Europe’s "greenest airline", Ryanair faced criticism and regulatory pushback over misleading sustainability claims. Advertising authorities in the UK and Netherlands previously ruled that the airline’s green marketing was deceptive, particularly the suggestion that carbon offsetting made flying sustainable. Following these rulings, Ryanair modified its website to clarify that CO2 compensation does not negate the environmental impact of flying, and removed icons such as green leaves.

The West African Development Bank (BOAD) is planning to launch a carbon market place during COP30 in Belem later this year, with an aim to consolidate and channel funding for carbon market development in the West African region, a bank official announced Friday.

Qatar-based Global Carbon Council (GCC) will in July launch an interoperable and integrated carbon market and national registry infrastructure to speed up the implementation of Article 6.2 under the Paris Agreement, its chief operations officer told Carbon Pulse on Friday.

Carbon Pulse has made a string of new hires across Europe and Latin America that will add to its already industry-leading coverage of carbon and nature markets across the regions, as well as bolster its data journalism offering.

Hawaiian Green Fee - Hawaii has introduced a new tax on tourists to fund climate resilience and environmental protection projects. Under Act 96, the state’s transient accommodations tax (TAT) will increase by 0.75% to 11%, effective from Jan. 1, 2026. The fee will apply to hotel guests, short-term rentals, and for the first time cruise ship passengers. The so-called "Green Fee" is expected to generate $100 mln annually to support initiatives related to climate resilience, sustainable tourism, and environmental stewardship. Governor Josh Green said the measure is essential for protecting the islands from future climate-related disasters, referencing the deadly 2023 Maui wildfires as a catalyst for the policy. The law seeks to ensure that all visitors contribute to maintaining Hawaii’s natural and economic resources, with the revenue stream proposed by the state’s Climate Advisory Team as a key disaster preparedness measure.

Washington state has released draft proposals outlining how emissions-intensive, trade-exposed industries (EITEs) could continue to receive no-cost carbon allowances from 2035 under its cap-and-invest programme, as part of a process to advise lawmakers on the carbon market’s future allocation policy.

Dutch carbon project developer DGB Group reported a wider annual loss for 2024 and received a disclaimer of opinion from its auditor, raising concerns about financial governance even as the company marks progress in project validation and revenue generation.

Brazil's Federal Public Prosecutors Office (MPF) has published a series of recommendations for its members to follow in order to protect the rights of Indigenous peoples and traditional communities during the development and planning of carbon credit projects.

Back to Baku - Azerbaijan and the World Bank have explored potential collaboration on carbon pricing, as part of efforts to support the country’s transition to a green economy. At a meeting hosted by Azerbaijan’s State Tax Service, discussions focused on the World Bank’s Partnership for Market Readiness and how carbon pricing mechanisms could align with national reforms aimed at boosting energy efficiency and economic diversification. Deputy Tax Chief Samira Musayeva highlighted Azerbaijan’s ongoing tax incentives for green initiatives, emphasising that carbon pricing requires fair, well-researched implementation. World Bank senior climate change specialist Yasemin Orucu recommended that Azerbaijan, if it proceeds, consider launching an upstream carbon tax on fuel imports via the existing excise duty system. This could initially cover around 60% of emissions and evolve into a broader emissions trading system, with revenues used to support low-income households. The discussions took place during a two-day workshop co-hosted by the government and the World Bank. The event introduced global best practices in carbon pricing and examined how mechanisms such as the EU’s Carbon Border Adjustment Mechanism (CBAM) may impact Azerbaijan. The second day focused on international carbon markets, presenting a readiness assessment for Azerbaijan’s participation in Article 6 frameworks of the Paris Agreement. The World Bank presented tools such as the Mitigation Action Assessment Protocol and a roadmap to navigate carbon markets.

Investors pared down net length in V25 California Carbon Allowances (CCAs) to November levels in wake of tempered expectations for the Q2 auction, while closing out their RGGI Allowance (RGA) and Low Carbon Fuel Standard (LCFS) long holdings in the face of regulatory uncertainty, according to US Commodity Trading Futures Commission’s (CFTC) data published Friday.

Canada eh? - The Canadian carbon removal (CDR) industry vouched for government and corporate-supported scale-up beyond the voluntary carbon market at technology conference WebSummit Vancouver on Friday. During a panel hosted by funder NorthX Climate Tech, panellists said that regulation needs to kick in and the cost of removals need to come down, with the eventual goal of offering CDR-as-a-service to high-emitting industries, in order to unlock the trillion-dollar market by 2050. Paul Needham, CEO of CDR developer Arca, called on governments to commit to purchasing CDR credits, noting an opportune moment for federal government as Canada holds the G7 presidency this year. Some experts have said that the next four years under PM Mark Carney will have "tremendous" impacts on the industry's future in the country. 

The US pulp and paper industry under-reports its emissions by nearly four times its true volumes due to accounting exemptions under the US EPA, an environmental non-profit said in a report Thursday.

A Charleston court will decide whether to dismiss a climate lawsuit filed against oil and gas companies, and the recent hearing could signal a potential shift in favour away from the environmental plaintiffs.

Deforestation data - In Apr. 2025, the Brazilian Amazon lost over 230 sq. km of forest, a 24% increase compared to the same month in the previous year, according to a report published Thursday by Belem-based scientific research non-profit Imazon. The most deforested states were Amazonas (40%), Mato Grosso (38%), and Para (11%), which together concentrate 89% of the total affected area. The most impacted conservation unit during the month was Triunfo do Xingu in Para, while the most affected settlement was Rio Juma in Amazonas. Seasonal deforestation remained up about 18% from 2024 levels.

Reducing headcount - Digital forest monitoring company Pachama is reducing the size of its team in response to macroeconomic challenges facing broader sustainability markets, CEO Diego Saez Gil said on LinkedIn Friday. The company still has significant capital for long-term development, he added.

A climate non-profit focused on decarbonising cookstoves is partnering with eight project developers to test-run a tool designed to ensure integrity in cookstove credits.

Kenya could access $5-8 billion in carbon credit revenues under Article 6 and the UN’s CORSIA aviation offsetting scheme – but only if the government makes strategic public policy choices, according to the head of Kenya’s carbon industry grouping.

Fuel imports in the Golden State must rise to meet demand in the wake of two refinery closures, but that doesn’t necessarily mean a steep increase in marine shipping emissions, California regulators said at a state assembly hearing on Wednesday.

The US Department of Energy (DOE) has cut more than $3 billion in funding across two dozen projects targeting emissions reductions, according to a Friday announcement.

Oil exploration at the mouth of the Amazon River in the northern part of Brazil would increase CO2e emissions by a total of 4.7 billion tonnes, according to a new analysis published this Friday.

European carbon prices ended a seven-week run of weekly gains as the threat of a renewed trade dispute between the US and China led to an afternoon sell-off across commodity and financial markets, after carbon prices had advanced in the first half of the day and looked poised to record yet another weekly advance.

Fifteen months of the Israel-led military conflict in Gaza have led to projected emissions greater than the annual emissions of dozens of countries, a study has shown, adding to concerns that global conflicts threaten climate targets as well as lives.

Dirty money - Since Russia's full-scale invasion of Ukraine in Feb. 2022, the country has made more than three times as much money from exporting fossil fuels than Ukraine has received in aid from allies, according to data analysed by the BBC. Oil and gas account for almost a third of Russia's state revenue and over 60% of its exports. Following the invasion, the US and UK banned Russian oil and gas, while the EU banned Russian seaborne crude imports, but not gas. Yet by May 29, Russia had made more than €883 bln in revenue from fossil fuel exports since Feb. 2022, including €228 bln from the sanctioning countries, according to the Centre for Research on Energy and Clean Air. The majority of which (€209 bln), came from EU member states. Some experts say sanctions imposed on trade in Russian hydrocarbons should be better enforced - particularly the oil price cap adopted by the G7.

Liberia plans to pass its climate change law by the end of this year, which will have provisions for the country’s carbon market, an official told a conference Friday.

Boeing announced a multimillion-dollar investment aimed at supporting clean energy development and economic growth in Canada on Wednesday, specifically targeting sustainable aviation fuel (SAF) technologies.

Two UN bodies and an Africa-focused trust fund announced Thursday the launch of a $15 million investment initiative aimed at tackling deforestation in the Congo Basin.

Verra is looking for more carbon projects to pilot the open-source digital platform it recently launched at a mangrove project in Senegal, as part of the standard body’s effort to shift from analog to digital, according to a company executive. 

Big buyers - Germany’s DAX-listed companies are expected to spend hundreds of millions of euros in the coming years to improve their climate records by buying carbon credits, Der Spiegel reports. Between 2025 and 2030, the 40 firms are forecast to purchase certificates covering nearly 33 Mt of CO2, according to Berlin-based trading platform Goodcarbon, which analysed recent corporate sustainability reports. Of the companies surveyed, 28 reported voluntary offsetting, with estimated total costs reaching €500 mln by 2030. However, the effectiveness of these offsets is limited. In 2024 alone, DAX companies emitted 173 Mt of CO2 - more than 15 times the volume they plan to offset. The Goodcarbon study only includes voluntary credits and does not account for mandatory EU ETS purchases by power producers and energy-intensive industries. The quality of offsets also varies. Purchases of more expensive removal credits were found to be less common compared to cheaper, more widespread offsets focussed on protecting existing forests or investing in renewable energy. Volkswagen was the largest buyer in 2024, offsetting 6.7 Mt of CO2 from its electric vehicle supply chain, production, and logistics - though this voluntary programme is set to end this year. DHL offset 1.1 Mt to offer climate-neutral shipping, while utility E.On bought credits for 0.7 Mt to market "green" gas contracts. Despite these efforts, DAX companies still rely heavily on fossil fuels, Der Spiegel reported. In 2024, they met 84% of their energy needs from non-renewable sources, according to EY.

European cement maker Holcim announced Friday it has broken ground on a facility in Greece that will integrate carbon capture technologies to produce 2 million tonnes of "near-zero" cement annually from 2029.

The UN Global Compact (UNGC) has released a guide to mobilise and scale finance to support the transition towards a sustainable ocean economy, projected to reach $5.5 trillion by 2050.

Too hot to handle - The daughter of Juliana Leon, a 65-year-old Oregon woman who died of heatstroke during the 2021 Pacific Northwest heat dome, is suing seven oil and gas companies for wrongful death. The lawsuit, filed by Misti Leon, alleges that her mother’s death was a “direct and foreseeable consequence” of the companies’ role in promoting fossil fuels and failing to warn the public about their contribution to climate change. It claims the defendants knowingly drove climate-related disasters through continued fossil fuel advocacy and a “deception campaign” that obstructed public understanding and adaptation efforts. Juliana Leon died on the hottest day ever recorded in Seattle after travelling 100 miles for a routine medical check-up. (E&E News)

Indonesia’s steel demand and capacity are expected to rise in coming years, but it plans to make the product in an emissions-free way to meet its net zero target, the chief of the nation’s steel association told a Singapore conference this week.

A UK-based registry has launched a standard for nature-based solutions that integrates offsetting, insetting and nature stewardship.

Incremental - Australia's emissions as of Dec. 2024 are estimated to be 446.4 MtCO2e, a 200,000 tCO2e year-on-year increase, according to data released by the government Friday. On a quarterly basis, emissions dropped 0.8% or 900,000 tCO2e as a result of emissions reduction in the electricity, fugitive emissions, and transport sectors. Preliminary estimates expect emissions to decrease by 1.2% YoY in the 12 months to Mar. 30, 2025, the reporting said, driven by emissions reductions in stationary energy, agriculture, industrial processes sectors, offsetting increases in the transport sector. The government noted Australia is 45% of the way through the Paris Agreement target period has generated emissions equivalent to 45% of the emissions budget to 2030.

Concerns about the shrinking value of the voluntary carbon market (VCM) have been brushed aside by participants who paint a bright future for their market.

Property rights are not sufficiently considered in biodiversity finance governance, despite determining who controls and benefits from these funds, a group of researchers said this week.

Saltmarsh sequestration - UK saltmarshes are critical carbon sinks that absorb more CO2 in summer than they release in winter, according to a new study by WWF working with the UK's Centre for Ecology and Hydrology. The researchers installed solar-powered GHG monitoring stations on Hesketh Out Marsh, a saltmarsh in Northwest England restored and managed by the RSPB. The findings highlight the importance of saltmarshes in tackling climate change, and call for them to be added to the official UK inventory of how much carbon is emitted and how much removed from the atmosphere each year. It's hoped doing so could provide more of an incentive to restore and protect these sites such as through a UK Saltmarsh Carbon Code. The UK has lost about 85% of its saltmarshes since 1860 largely due to agriculture. (BBC)

Double trouble - British competitors to the global commodities trader Archer Daniels Midland (ADM) have suggested the company is using a loophole in UK regulations to claim a double subsidy on the production of low-carbon biofuels. In submissions to the UK government, ADM's competitors say the company falsely claimed that a biofuel it sold in the UK was made from a waste product. These rivals said that the byproduct, unrefined liquid dextrose ultrafiltration retentate, should not be classified as waste as it has several well-established uses. Experts calculated that the UK double credit may have allowed ADM to generate up to £100 mln in revenue in 2024. (FT)  

Watering down - Weakening of the UK's zero-emission vehicle (ZEV) mandate announced last month could result in fewer electric cars on the country's roads and higher carbon emissions, according to the Climate Change Committee. The official climate adviser said the flexibilities could lead to more plug-in hybrids (PHEVs) being sold at the expense of some EV sales, and also critiqued the government for failing to ban petrol and diesel van sales by 2030, instead opting for 2035. Transport & Environment also said the changes could mean an extra 500,000 PHEVs on UK roads by 2030, which would jeopardise the government's climate goals and increase costs for drivers. The ZEV mandate is intended to force automakers to sell more electric cars each year, or face steep fines, but has been watered down due to industry lobbying that touted its economic unsustainability. (the Guardian)

With government support, one of Japan’s leading steelmakers will transition three of its blast furnaces to a cleaner electric arc furnace (EAF) to reduce emissions in line with its carbon neutrality goals.

Researchers from Melbourne’s Monash University have looked at the interplay between the production of ‘green’ hydrogen and the large Australian electrical grid that will power this in terms of both Australia’s Guarantee of Origin (GO) scheme, and other green hydrogen certifications potential offtakers will look at.

JCM subsidies – Japan’s environment ministry has picked two small projects in Indonesia to award upfront funding for development under the JCM, it announced Friday. Under the arrangement, Japan provides early finance against a share of the credits that will be generated. The latest decision involves a 2.7-MW photovoltaic power system in a steel wire factory that can generate nearly 2,200 credits per year, involving Tokyo Century Co., and an 0.7-MW rooftop solar power system for an auto parts factory in Bekasi province. The latter will be carried out by Kansai Electric Power Co., and is set to cut emissions by 545 tonnes of CO2e annually.

Industry lobbying efforts have deliberately sought to weaken South Korean’s emissions trading scheme by demanding overly generous free allocation volumes to high emitting sectors, among other issues, according to analysis.

Companies subject to Singapore's carbon tax will be allowed to carry over unused international carbon credit (ICC) allowances into 2025, as authorities acknowledge supply constraints in the carbon offset market that have left firms struggling to source eligible credits.

In talks - Pakistan this week held talks with the Asian Development Bank (ADB) in an effort to tap into global carbon markets to spur economic growth, it said in a press release. Federal Minister for Climate Change and Environmental Coordination, Musadik Malik, met with ADB’s Senior Director for Climate Change and Sustainable Development, Toru Kubo, in Islamabad to explore joint efforts on climate finance, carbon credit mobilisation, and a new national climate strategy. The two sides agreed to develop a climate framework with a focus on market-based solutions, including outcomes based project implementation and climate finance. Earlier this month, Pakistan said it will start charging a carbon levy on petrol, diesel, and fuel oil from July, as part of a broader economic package backed by the International Monetary Fund.

Big bucks - Saudi Arabia’s utility ACWA Power has signed a series of agreements worth $10 bln with Malaysian entities to jointly develop renewable energy and water projects, marking its expansion into Southeast Asia. The deals, announced during the ASEAN-GCC Summit, include a memorandum with government investment authority MIDA to explore up to 12.5 GW of power generation by 2040. ACWA Power also inked joint development pacts with TNB, Terengganu, and UEM Lestra for floating solar, gas turbine and desalination projects. The Malaysian state of Sarawak recently announced a sustainability blueprint to achieve net zero status by 2050, and said it is developing a carbon plan.

No brainer - A new study from University College London’s (UCL) Energy Institute suggests that dual-fuel ammonia propulsion could offer the most cost-effective compliance pathway for shipowners under the International Maritime Organization’s (IMO) forthcoming carbon pricing structure - provided safety concerns are resolved. UCL’s modelling of the IMO’s complex carbon pricing system, agreed in principle at MEPC 83, found that while LNG-fuelled ships may be more economical in the short term, dual-fuel ammonia vessels will become the least-cost option by the mid-2030s. This shift occurs as the IMO’s emissions intensity standards tighten, increasing compliance costs for fossil-based fuels like LNG. The study's authors called dual-fuel ammonia a “no brainer” choice, citing its ability to generate valuable surplus emissions units - credits earned by exceeding IMO standards - which can be sold to offset fuel costs. Blue ammonia, produced from natural gas with carbon capture, was identified as the only fuel with abatement costs lower than initial penalty prices and capable of generating significant surplus units into the mid-2030s. Ammonia propulsion also offers operators greater flexibility, as dual-fuel ships can run on a range of fuels, including fossil fuels, biofuels, blue ammonia and e-ammonia, allowing owners to adapt to fluctuating energy prices. Conversely, UCL warned that LNG's high emissions intensity limits its long-term viability under the IMO’s rules, unless costly onboard carbon capture is installed. The report cautioned that LNG bunkering infrastructure may become a stranded asset if ammonia gains traction. (Maritime Executive)

Tech behemoth Microsoft on Thursday reported that its total greenhouse gas emissions have risen by more than 23% from 2020 levels, driven by the rapid expansion of its AI and cloud infrastructure, even as the company significantly increased investments in carbon removals and clean energy.

The US Supreme Court (SCOTUS) on Thursday curtailed environmental review mandates for infrastructure projects under the National Environmental Policy Act (NEPA).

The Victorian state government’s guide for renewable energy project developers to limit their impacts on biodiversity took effect on Thursday, the government announced.

RJ Reynolds Vapor Company and its parent British American Tobacco (BAT) are facing a proposed class action lawsuit in California alleging they misled consumers by falsely claiming that their Vuse vape products are carbon neutral by using offsets tied to questionable forestry projects.

The US Federal Reserve disbanded several committees tasked with assessing financial risks and vulnerabilities related to climate change, media reported Wednesday, reflecting a broader rollback in the financial sector.

Carbon under soil - The Brazilian state of Rio de Janeiro stores more than 300 mln tonnes of carbon in its soil, according to a new study published by the national agricultural research agency Embrapa. The researchers identified 189 mln tonnes of carbon at a depth of 0-20 cm, and 119 mln tonnes at 30-50 cm. The values of carbon storage were obtained from the National Forest Inventory in the State of Rio de Janeiro (IFN), developed by the Brazilian Forest Service (SFB) between 2013 and 2016. The idea is that the data will support public policies and help to promote the carbon market in the state.

A regional Brazilian development bank announced this week it will offer R$7.8 billion ($1.4 bln) in sustainable credit to projects in areas including environmental recovery, low-carbon agriculture, and green hydrogen, among others.

A Sao Paulo-based carbon trading firm and an agricultural producer in Brazil’s Cerrado region are collaborating on a large-scale soil carbon project.