- Tue 00:01The UK government is putting £14.2 billion into building the long-debated Sizewell C nuclear power plant, in a push to kickstart a nuclear programme that includes building new small modular reactors and cutting-edge fusion technologies, it announced on Tuesday.
- Mon 23:44The Methodological Expert Panel (MEP) responsible for the Paris Agreement Crediting Mechanism (PACM) under Article 6.4 has proposed exemptions to certain monitoring, reporting, and reversals provisions for some projects.
- Mon 23:43
New rules - The US EPA recently submitted two “economically significant” interim final rules to the Office of Information and Regulatory Affairs (OIRA) for review. The first, received on May 22, is a technology review of national emission standards for hazardous air pollutants from integrated iron and steel manufacturing facilities. The second, submitted on Jun. 5, proposes an extension of deadlines related to climate standards for new, reconstructed, modified, and existing sources in the oil and natural gas sector. Both rules are pending review and drafts may be released for public comment.
- The US EPA announced Monday it plans to approve a sixth state for authority to permit underground CO2 injection wells.
- Mon 23:37RGGI Allowance (RGA) settlement values inched higher following Q2 permit sale results, with market participants now expecting weather forecasts to direct price trajectory in the near-term absent federal and regulatory updates.
- Environment and Climate Change Canada (ECCC) completed Monday the first offset credit issuance under its federal system from a landfill methane project in Nova Scotia, eligible for both compliance and voluntary purposes.
- Mon 23:01Countries need to include shipping emissions in their new economy-wide climate commitments to the Paris Agreement, or the global sector risks falling significantly short of its net zero goal, a group of NGOs said on Monday.
- Mon 21:46
Teamwork for takeoff - Honeywell, a global technology and manufacturing firm, Johnson Matthey, a sustainable technologies company, GIDARA Energy, a waste-to-fuel technology developer, and Samsung E&A, an international engineering and construction firm, recently formed the SAF Technology Alliance seeking to deliver an end-to-end solution for producing sustainable aviation fuel (SAF) from biomass and municipal solid waste. The alliance aims to shorten SAF project timelines by over 15% and reduce capital costs by up to 10%, while expanding availability of alternative feedstocks to meet rising global SAF demand.
Branching into trouble - Seattle-based Mast Reforestation, a carbon credit developer focused on replanting wildfire-damaged forests, is facing allegations from a former employee that it misled potential partners about the value and demand for its offsets, local media OPB reported. The company uses “ex ante” credits based on projected future carbon sequestration. Former Senior Director Arnoud de Villegas filed a wrongful termination lawsuit last July claiming Mast’s CEO made exaggerated statements about business prospects and offset values. The company has not commented on pending litigation but the case is up for a hearing Jul. 10.
- Mon 21:43A multinational insurance company has reduced its operational carbon footprint by 25% in 2024 compared to 2022, surpassing its internal target and offsetting the majority of its emissions through a range of nature-based projects.
- The third United Nations Ocean Conference (UNOC) opened in Nice on Monday with announcements for the High Seas Treaty, 30x30, and Nationally Determined Contributions (NDCs).
Sky’s the limit - Skyrenu Technologies, a Quebec-based startup developing direct air capture (DAC) systems, announced the close of a pre-seed financing round supported by the Quebec government’s Impulsion PME programme—an early-stage venture capital fund managed by Investissement Quebec—and private investors, including Netherlands-based fund CarbonFix. The funding aims to strengthen Skyrenu’s operational capacity as it scales its DAC technology, developed in partnership with the University of Sherbrooke.
- Mon 20:16The Yurok rock - The Yurok Tribe of northern California has successfully reclaimed the 19,000-hectare Blue Creek watershed in what is now the largest land-back conservation deal in California’s history. The cold-water creek is vital for the survival of Chinook, coho, and steelhead salmon, and central to Yurok cultural and ceremonial life. This two-decade effort involved pausing logging by former landowner Green Diamond Resource Company in 2006 and assembling a complex $60 mln financing package. The deal combined public and private funds, including federal pollution-reduction loans and revenue from California’s carbon credit market - one of the few times such credits have been used to secure repayments in a conservation deal, Mongabay reports. The final 6,000 hectares will transfer to the Yurok in June 2025.
- Mon 20:14One land's garbage - Carbon management firm DevvStream announced two new MoUs with Indonesia on Monday for converting waste to energy. DevvStream plans to certify and market verified carbon credits and International Renewable Energy Certificates (I-RECs) through the MoUs. The company expects the waste-to-energy segment in Southeast Asia to expand to $7.7 bln by 2030 from roughly $4 bln today. The agreements build on the firm's Southeast Asian presence, following an earlier hydroelectric agreement DevvStream announced in Indonesia and its solar energy collaboration in the Philippines.
- Mon 20:14
The New York hy life - The New York State Energy Research and Development Authority (NYSERDA) has announced the availability of $3.7 mln to support clean hydrogen-based fuel cell technologies aimed at enhancing grid reliability and decarbonising industrial processes. The funding, part of NYSERDA’s Advanced Fuels and Thermal Energy Storage Program, will be awarded in two phases, supporting initial design scoping and detailed engineering assessments. The initiative seeks proposals from project teams including engineering firms, hydrogen suppliers, and facility operators. Funding for the programme is sourced from the state’s Clean Energy Fund.
- Mon 20:13That's entertainment - SMC Entertainment, a fintech incubator, has signed a letter of intent with Sweden-based Circle Energy AB to deploy its FYNN AI platform to support the build-out of Circle Energy’s new Carbon Capital Solutions Division. The division will focus on the global production, purchase, and sale of carbon credits across both compliance and voluntary markets. FYNN AI will help identify and match buyers and sellers, assess credit quality and volume, and provide a white-label solution leveraging the Solana blockchain for transparency. A definitive agreement is expected by June 20, 2025.
- Mon 18:23Rules we will not enforce - The US Department of Transportation published its final rule on Friday indicating that it would no longer enforce federal Corporate Average Fuel Economy (CAFE) regulation. The CAFE rules, established under the former Biden administration, regulate how far vehicles must travel on a gallon of fuel. Though the final rule does not change existing standards, the department’s National Highway Traffic Safety Administration said that it would exercise its enforcement authority as indicated by the rulemaking.
- Mon 18:17Back to the drawing board - The South Coast Air Quality Management District (AQMD), which regulates air quality in southern California, rejected rules on Friday for a plan to phase out gas heaters and furnaces. Gas utility company Southern California Gas Company heavily opposed the rules, and the regulators heard many public comments on Friday expressing worries of housing costs rising from mandating the purchase of replacement zero-emission appliance options by 2036. The Trump administration had threatened to sue if the policy to electrify heating was enacted in a Thursday post on X. The South Coast AQMD board voted to re-evaluate the rules, likely pushing a future vote into 2026, LAist reported.
- Mon 17:37Don't forget! - Operators of UK ETS installations must submit their Baseline Data Reporting (BDR) by June 30, the UK government said in an update published late on Monday. This submission is a legal requirement, and failure to comply may result in civil penalties, the reminder stated. All operators must complete this submission, as it is the first step in applying for free allocation and without a full, verified BDR, installations will not be eligible for free allocation during the next allocation period, the government added. Operators who wish to apply for inclusion on the Ultra Small Emitters (USE) or Hospital and Small Emitters (HSE) lists for 2026–30 must submit separate USE or HSE applications.
Token of appreciation - The Central African Republic (CAR) will tokenise 1,777 ha of public land near Bossongo via its memecoin $CAR, under a decree signed by President Touadéra. The 99-year concessions will be sold on the Solana blockchain starting June. A total 76% of tokens of the $CAR memecoin are reportedly concentrated in just four wallets, raising concerns over potential market manipulation and centralised control, according to French media outlet BFM TV.
- Mon 17:27
Green funding - The Global Environment Facility (GEF) has provided $1 mln in funding to support environmentally focused income-generating initiatives in Gabon, the government announced last week. The funds will back rural projects that combine ecosystem protection, economic development, and community empowerment, under a partnership between the GEF and the Gabonese state. The announcement was made during the country's National Environment Week, which ran June 2–6.
- Mon 17:26No more Oxford blues - UK energy firm 1Energy has secured £21 mln in UK government investment and is committing £100 mln of private capital to develop a city-scale heat network in Oxford, local media reports. The total investment could amount to over £500 mln as the network expands. The project project is expected to reduce gas demand by 10%, cut emissions by 15,000 tonnes of CO2 a year and slash air pollution by 5%. Construction is planned to start in 2026.
- Mon 17:23European carbon prices advanced for a sixth day, disconnecting from a weaker natural gas market as a holiday across many parts of Europe robbed the EUA market of liquidity and handed the initiative to the bulls, with traders eyeing US-China trade talks this week, as well as the prospect of lower renewables output and increased cooling demand.
- Mon 16:48Brazil’s Ministry of Indigenous Peoples (MPI), in partnership with an environmental NGO and a Brazilian consultancy, has launched a nationwide initiative to bolster Indigenous territorial governance, climate finance access, and biodiversity-based value chains.
- Mon 16:44A large European insurance firm has withdrawn from four international climate finance groups, citing a lack of clarity on how to move forward with corporate climate action.
- Green strategy - TotalEnergies is seeking to sell a 50% interest in a large portfolio of US renewable assets and is considering a similar stake sale for a smaller group of solar projects in Spain, say people familiar. Though the company may also choose to wait and build more solar PV in Spain if investors show interest in a bigger package of assets, they said. The planned sales are part of the oil major's strategy of selling 50% stakes in renewable projects once they are built to boost returns on its green investments. The company is aiming for electricity to represent 20% of its energy sales by 2030. (Bloomberg)
- Mon 16:01Voluntary carbon prices continued to slide last week, following the pattern seen in May, although US registries bucked the trend and a Singaporean exchange claimed the first floating offer for cookstove credits versus an index for CORSIA Phase 1-eligible units.
Major mineral moves - Canada Nickel Company, a Canadian mining company focused on low-carbon nickel production, announced a partnership with Australia-based NetCarb, a company specialising in carbon mineralisation technologies, to commercialise new carbon sequestration technology. The collaboration aims to increase CO2 storage capacity of Canada Nickel’s Crawford project in Timmins, Ontario by up to tenfold, estimating 500 MtCO2 of sequestration over the mine’s life. The companies plan to seek government funding and industrial partnerships to further expand the initiative.
- Mon 15:49
Injunction impasse - SCOTUS is now considering whether to limit judges' authority to issue sweeping orders, such as halting spending on climate initiatives, E&E News reported. The consideration was prompted by the administration’s challenge in Trump vs CASA, which questioned the constitutionality of universal injunctions. During May arguments, justices expressed skepticism toward the administration’s proposal to require class-action suits for broader relief. Federal judges have blocked attempts to withhold climate funding allocated under the Inflation Reduction Act, including $20 bln in grants.
- CDR credit plans - US-based pharmaceutical multinational Eli Lilly said in its 2024 sustainability report that it intends to buy CDR credits to address its unabated emissions. The company said it has not yet bought any carbon offsets, noting its primary strategy is to directly reduce emissions and replace carbon-intensive sources with clean energy sources where possible. However, to achieve carbon neutrality, Eli Lilly said it recognises the remaining emissions will need to be offset by purchasing carbon offsets from climate protection projects with “recognised quality standards”. The company said it strives to be carbon neutral in its own operations by 2030. The company reported achieving a 37% absolute emissions reduction in its own operations from 2020 to 2024, as well as 15% year-on-year reduction from 2023 to 2024.
- Mon 15:23A district court hearing in Germany last week questioned the validity of Apple’s climate neutrality claims for its Apple Watch, following a lawsuit by a German consumer protection organisation over the long-term effectiveness of the company’s carbon offset projects, local media reported.
- Mon 15:13A pilot project backed by Japan’s Ministry of Economy, Trade, and Industry (METI) is deploying artificial intelligence and remote sensing technologies to enhance forest carbon monitoring across a 6,000-hectare reforestation site in Malawi.
- Mon 14:46Sights on steel - UK Reform party leader Nigel Farage will pledge to reopen the steel blast furnaces at Port Talbot were his party to become government in Wales next year. In a speech in Port Talbot, south Wales on Monday, Farage is expected to outline how the Welsh parliament elections next year will be the primary focus of Reform. Reindustrialising Wales is set to be a key focus of the speech, with Farage also expected to suggest a return to coal mining as part of the party's plans to reopen Port Talbot steel. The plant was the largest steelmaker in the UK until its two blast furnaces were switched off in Sep. 2024, leading to the loss of 2,800 jobs, with electric arc furnaces set to be operational by early 2028. Reform hopes to end the 26-year Labour government reign in Wales when the country heading to the polls in May, with Reform currently second in the polls on 25% behind Plaid Cymru on 30%. (Sky News)
- Mon 14:26The government of Madagascar has enacted a decree setting a comprehensive legal and operational framework for accessing the national forest carbon market by defining the ownership of emissions reductions and setting the rules for carbon programmes.
- Mon 14:25A global cruise company says it is focusing its decarbonisation efforts on energy efficiency after seeing direct emissions rise last year, while omitting any mention of carbon credits despite being a buyer in the past.
- Mon 14:16Zimbabwe has issued a Letter of Authorisation (LoA) for up to 2.855 million Article 6 Internationally Transferred Mitigation Outcomes (ITMOs), issued or to-be-issued, to a cookstove project, with 5,000 of those credits receiving corresponding adjustments, the developer confirmed to Carbon Pulse on Monday.
- Mon 14:01Capital infusion - Sydney-based asset manager LVP has invested in Melbourne-based project developer Coda Carbon to scale up native forestry-based initiatives along Australia's east coast, the companies said on LinkedIn. Without disclosing the amount, LVP said the deal will allow Coda Carbon to acquire properties for the development of carbon projects that generate Australian Carbon Credit Units (ACCUs) under the Environmental Planting method. The projects will target ecologically suitable properties to restore landscapes and deliver biodiversity co-benefits. Meanwhile, ACCUs were gaining ground last week, despite a dip in liquidity. Prices were down slightly compared to the four-month high reached in late May, but inched higher when the Albanese government returned to office.
- Mon 14:00Clean water - Australian climate tech startup Bygen has raised A$3.5 mln ($2.3 mln) in a funding round led by state-backed Breakthrough Victoria, KR Asia reported Monday. Other investors included Investible’s Climate Tech Fund, FMG Circular Invest, Alberts, and the University of Adelaide. The funds will support the scale-up of Bygen’s low-emission activated carbon technology, used in water purification and industrial decarbonisation. The firm plans to build new production facilities targeting 2,000 tonnes of annual output.
- Mon 12:56Hard decision - Australia's Minister for Climate Change and Minister Chris Bowen says that the government is ‘considering’ the enactment of a Carbon Border Adjustment Mechanism (CBAM) to prevent carbon leakage from high emissions-intensity products, including cement. The Australian Parliament committed to 43% national CO2 emissions reduction between 2005 and 2030 in 2022, and capped emitters’ individual carbon footprints in 2023. Final advice from a government Carbon Leakage Review was due after May 2025, and was possibly complicated by ongoing US climate and trade reforms under President Trump. The Australian Cement Industry Federation bemoaned a lack of action on carbon leakage in Mar. 2025. It warned of jeopardy to both decarbonisation and 1,400 jobs in the Australian cement sector. Australia’s construction industry imported 40% of its cement used in 2024. (Global Cement)
- Mon 11:36The growth of renewable energy sources means gas is becoming a “permanent transition fuel”, as the electricity system needs baseload energy to keep in balance while coal is being phased out to address climate change, a Polish minister has said.
- Mon 10:46Taiwan is planning to introduce its own version of a Carbon Border Adjustment Mechanism (CBAM) in 2027, which will initially apply to steel and cement products.
- CO2 capture from shipping - Ecospray has brought to market an amine-based carbon capture solution for shipping, enabling the capture of up to 80% of CO2 emitted during ship operations in specific conditions. The system has high energy efficiency, reducing energy consumption by up to 50% compared to similar technologies and transforming waste heat from ship engines into a valuable resource. Ecospray is also working with Captura and Equinor on an initiative to capture CO2 from seawater. (Manifold Times)
- Mon 09:50China’s environment ministry is soliciting opinions from industries to formulate the permit allocation plan for the three newly added sectors under the national emissions trading system - steel, aluminium, and cement.
- Mon 09:41A state in Nigeria will soon launch a subnational carbon exchange that will enable it to monetise emissions reductions through certified carbon credits, the government has announced.
- Mon 08:46On site research - Korean steel giant POSCO has opened a research and development lab in Perth, Western Australia, to seek a competitive edge in the steel, battery materials, raw materials, and rare earth sectors, it announced. The company claimed it was the first time a Korean company had established a resource research institute on site where raw materials are located. The Australian Critical Minerals R&D lab will act as a hub for the company's mineral research and development, including low-carbon raw material utilisation technology, and cost reduction technology in lithium and nickel raw materials sectors, it said.
- Mon 07:39Scaling blue finance - A World Bank report has found that in order to scale and accelerate the impact of blue finance, there must be a shift from fragmented pilot efforts to coordinated, system-wide implementation. It also found that blue finance tools including, blue bonds, debt-for-nature swaps, and insurance products, have proven effective in supporting climate resilience, ecosystem restoration, and fiscal sustainability when backed by strong policies, data systems, and inclusive governance.
- Mon 07:38ESG Light credits - Synergy ESCO, the Malaysian subsidiary of Hong Kong-based energy services company Unity Group, has launched a new brand of energy efficient light bulb suitable to generate carbon credits, it announced. The "ESG Light" operates at 4.5 Watts, and delivers an estimated 89% energy savings compared to conventional lighting. The company plans to partner with the Selangor state government to retrofit 6,000 apartment units with these lights and earn revenue from the subsequent generation and sale of carbon credits. While the company claimed its bulb to be the world's first to be eligible to generate carbon credits, existing energy efficiency methodologies in Japan and Australian carbon market schemes allow similar activities to be credited.
- Mon 06:44Interim targets - Japanese railway operator JR East has set new reduction targets for the coming decades, as the company seeks to eventually reach net zero by mid-century, it announced Monday. The new reduction targets for FY2036 Mar. and FY2041 Mar. are set at 60% and 73%, respectively, compared to the FY2014 level. The company said it has been working on the development of renewable energy sources, the introduction of new types of railcars, and the improvement of the efficiency of its thermal power plants.
- Mon 05:41The New Zealand carbon allowance price has climbed upwards in recent days and is breaking free of its rangebound trend, as the forestry sector is blamed for driving down sheep flock numbers.
- Mon 04:32Foray - Beijing-based private equity firm InnoVision Capital, which focuses on ESG investments, has tapped into China's carbon markets through the establishment of a carbon asset investment fund, according to Dealstreet Asia, which cited remarks by CEO and founder Lane Zhao. InnoVision has previously said it remains optimistic about the outlook of the Chinese carbon markets and will "strive to grab opportunities in the carbon asset industry", given the implementation of relevant regulations, the expansion of the national ETS, and the introduction of more carbon offset methodologies.
- Mon 03:16Hope in rice - The Asian Development Bank (ADB) and non-profit CGIAR on Monday launched a new initiative to boost investments in sustainable and low-carbon rice production, in the hope of improving the lives of millions of vulnerable smallholder farmers across Asia Pacific. ADB plans to invest up to $1.5 bln through the ADB–CGIAR Clearinghouse Facility from 2025–2030 to help farmers adopt high-yield and low-emission farming practices, adapt to harsher climate conditions, and reduce water and carbon footprints. According to the multilateral development bank, initial projects are being developed in Bangladesh, Cambodia, China, Pakistan, and the Philippines. The facility is cofinanced with the Gates Foundation.
CP Daily News Ticker: 9 June 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 to our ‘Bite-sized updates from around the world’, which previously featured in our CP Daily newsletter.
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