Three companies announced a strategic partnership to develop a carbon removal-embedded energy hub to supply artificial intelligence power needs in Wyoming.

A New York-based private equity firm announced on Tuesday the end of the fundraising period for its flagship energy transition strategy, having raised $20 billion in fund commitments and strategic capital.

Cash for clean energy – The Asian Development Bank (ADB) has approved $82.5 mln for the second phase of a programme to transition Cambodia’s energy sector. In a press release on Tuesday, the Manila-headquartered bank said that the package was co-financed by the ASEAN Infrastructure Fund, the Asia–Pacific Climate Finance Fund, the Green Climate Fund, and the United Kingdom via the ASEAN Catalytic Green Finance Facility. Building off the first phase, this second programme will develop regulatory reforms to leverage private sector investment in the energy sector, including establishing energy performance standards for electrical appliances – starting with air conditioners, the bank said. Some of the cash will also be used to create an Energy Efficiency Revolving Fund, to help SMEs access finance for energy efficiency investments. A third phase of the energy transition programme is planned for 2027, the ADB said, which will include technical standards for renewables, buildings, and industry. In its third NDC, published in August, the Cambodian government committed unconditionally to cut its 2035 emissions by 16% compared with BAU, and by up to 55% if it secures international finance and technology support.

Nuclear first – The Asian Development Bank (ADB) has announced it is willing to support nuclear power for the first time, according to a press release. ADB President Masato Kanda said the bank was reviewing its energy policy to better meet the needs of developing country members, saying the ADB sees nuclear as an important option for countries looking to move away from coal- and gas-fired generation. The ADB plans to spend $10 bln over 10 years to support the ASEAN power grid and clean energy. In a separate speech at an event in Kobe, Kanda said government, industry, and development partners want to transform ports to be digitalised and serve as gateways for low carbon commodities. The ADB signed an MoU with the International Association of Ports and Harbors to promote knowledge sharing, technical exchanges, and capacity building to support ADB members in transitioning their ports.

A bipartisan pair of US senators are looking to reauthorise governing regulations for pipeline safety, including seeking a new rule for CO2 pipelines.

Chile’s Ministry of Environment (MMA) aims to launch a single registry for the country’s array of tradable carbon units within a year or 18 months, an official told Carbon Pulse in Santiago on Tuesday.

Island indictment - Residents of Bonaire, a Dutch Caribbean island, have filed a lawsuit against the Netherlands, alleging that the government has failed to protect them from worsening climate impacts such as heat and drought. Supported by Greenpeace, the case, which is currently being heard in The Hague, features testimony from locals who say rising temperatures have made daily life unbearable, with some calling their homes “prisons of concrete.” Lawyers for the plaintiffs argue that the Dutch state has not matched its climate rhetoric with meaningful action, while government representatives contend that the issue is a political, not judicial, matter. Hearings for the case will continue on Wednesday. (The Independent)

One more deal – Coralia Environmental and the Bolsa Argentina de Carbono (BACX) have established a strategic alliance, they announced via LinkedIn on Tuesday. Under the agreement, BACX will integrate Coralia’s GHG quantification and reporting services, including corporate carbon footprints and emissions inventories. The partnership could also expand access to trading of Coralia’s nature-based carbon credits through the BACX platform, in which Argentinian companies can voluntarily offset emissions via verified domestic credits. Coralia currently leads the Misiones J-REDD project, one of the first such projects under Verra’s Jurisdictional Nested REDD+ (JNR) framework. In June, BACX partnered with Singapore-based ACX Group to launch Argentina’s first digital carbon exchange. Last week, UK-based carbon insurer Oka announced it would provide embedded invalidation cover for ARR credits traded on BACX.

Decarbonising mining – Chile’s ministries of Economy, Mining, Energy, and Environment signed a public-private agreement with the national Mining Council to support the decarbonisation of the mining sector, the institutions announced on Monday. The initiative sets a collaborative framework to develop enabling conditions and scale technologies aimed at achieving carbon neutrality in the industry by 2050. It addresses scope 1, 2, and 3 emissions, and will include regulatory improvements and a joint roadmap.

Biofuels loss – Oil major Shell said it expects a $600 mln hit in its Q3 2025 results from its abandoned biofuels project in Rotterdam, it said in an update on Tuesday. The company scrapped the plans last month for the biorefinery – which would have used waste cooking oil and animal fat to produce sustainable aviation fuel (SAF) – saying it would not have been competitive. Shell also said its LNG volumes for the quarter will likely be at the higher range of its initial 6.7-7.3 Mt, at 7-7.4 Mt. Adjusted earnings from its renewables division meanwhile will range from a $200 mln loss to a $400 mln gain, it said. Shell will release its third quarter results on Oct. 30.

Two large direct air capture (DAC) hubs are included in a new purported list of projects whose financial awards are being abruptly cancelled by the US DOE, although project developers say they have not been informed of any funding cancellations.

The compliance instrument surplus for the California-Quebec joint ETS grew 1.7% in Q3, approaching the 500 million mark, recently published state data showed.

Analysts from four companies are predicting EUA prices will rise to at least €100/tonne by 2027 due to supply tightness, Carbon Forward Expo London heard on Tuesday. 

EU carbon prices have entered the final quarter of 2025 buoyed by a mix of speculative buying, compliance activity, and supportive power market dynamics, while analysts polled by Carbon Pulse increasingly focus on an expected structural tightening from 2026 that is set to reshape the supply-demand balance.

Perilous permanence - A new study published last week argued that carbon sequestration counted toward net zero goals should be guaranteed on climate-relevant timescales – at least several thousand years and likely beyond 10,000 – because excess atmospheric CO2 persists for millennia. The research found that rules and buyer standards typically equate “permanence” with 100 years, creating a large durability gap. The authors concluded that credible accounting requires either physically permanent storage, such as geological, or enforceable obligations to re-sequester across generations that consistent with polluter-pays and intergenerational equity principles.

Moral mitigation - A recently published study has argued that carbon removal (CDR) should, and can be, included in climate policy under a 'transitional justice' approach. The authors said that while CDR raises fairness and participation issues, it can still support a just transition across generations and communities. They challenged the “moral hazard” claim, that is, the idea that relying on CDR could discourage emissions cuts, noting that research shows learning about CDR does not reduce support for cutting emissions. The paper concluded that rejecting CDR entirely could harm climate goals and agreed with the IPCC that CDR is needed alongside emissions reductions to combat climate change.

The European Commission is looking at potential connections between the EU’s Carbon Removal and Carbon Farming (CRCF) certification scheme and international carbon credits delivered under Article 6 of the Paris Agreement, a senior official told Carbon Pulse.

One of the heavyweights in the voluntary carbon market is announcing job losses as it restructures to maintain growth following a challenging two years that saw it engulfed in a major scandal and the subsequent departure of one of its co-founders.

Chile will at COP30 launch a roadmap establishing its Article 6 of the Paris Agreement project typology and clarifying interactions among the country’s many carbon pricing instruments, attendees heard at the Chile Carbon Forum in Santiago on Tuesday.

Labour, environmental, and community organisations have launched a federal lawsuit challenging a recent decision by the US EPA to shut down a nationwide renewable energy initiative intended to help low-income households access solar power.

A senior European Commission official has defended the EU executive's €30/tonne price estimate for the new Emission Trading System for heating and transport (ETS2), arguing that most analysts' models are also starting to converge towards a lower outlook.

European Parliament calls for higher ambition - The European Parliament's environment committee adopted its policy demand for the UN climate change conference COP30 on Monday evening. In a motion for resolution, which however does not carry legal weight, MEPs said they regretted the fact the EU had not submitted its updated NDC in time, and said the bloc should remain a leader in international climate negotiations. It urged the EU to phase out fossil fuel subsidies, and said all sectors must contribute to achieve climate neutrality -  methane, road transport, international shipping, agriculture, textiles, and tourism. The resolution will be put to a vote by the full house during plenary session of 20-23 October.

Steel sector emissions have fallen over 5% this year to date, due to lower production as well as efficiency measures, an analyst told the Carbon Forward Expo London conference on Tuesday.

New York solar bump - North American energy infrastructure company PowerBank Corp. has announced a lease agreement for a ground-mount solar power project in New York. Following interconnection approval, the company will work through permitting and look to secure financing for construction of the estimated 6.9 MW Crawford Rd Project. The company said the project advances New York's ambitious Climate Leadership and Community Protection Act, which aims to build 6 GW of solar capacity by 2025. New York accounts for nearly one-third of the 6.2 GW of installed solar capacity in the US.

Canadian solar loans - Canadian solar distributor Charge Solar and loan company Financeit have launched a nationwide solar financing programme designed to empower homeowners to make the switch to solar, and accelerate clean energy adoption. The programme is aimed at providing Canadians with flexible and affordable payment options for residential solar and helping installers close consumer deals faster. The federal government closed the Greener Homes Loan on Oct. 1, which offered interest-free financing to help Canadians make their homes more energy efficient.

Net zero Canadian ag - The Canadian Alliance for Net-Zero Agri-food (CANZA) has unveiled the Million Acre Challenge to scale regenerative farming practices in Canada. The initiative is being launched with an initial C$7 mln ($5 mln) investment from the Weston family, behind major grocer Loblaws, and would aim to work with farmers to accelerate economically viable and environmentally sustainable farming practices that support a thriving, resilient Canadian agricultural sector and food system.

New York's windy winters - Offshore wind can support New York’s power grid during winter, despite assertions by US Energy Secretary Chris Wright that it isn’t windy in winter, E&E News reported. Stats by South Fork Wind, which recently completed its inaugural year as the first commercial-scale offshore wind project in the US, show the project operated at about half its capacity during the 2024-25 winter season and still provided more power than some fossil fuel facilities. E&E News reported officials in Northeastern states are now using the data in their fight to prove to the Trump administration that wind energy can bolster the region's stressed power systems. Trump’s war on wind power aw the US Department of Transportation withdraw or terminate $680 million in funding for 12 offshore wind projects in August, including several in RGGI-participating states. (E&E News)

Brazil J-REDD+ ongoing – In Para, Brazil, the state government continues to advance its jurisdictional REDD+ (J-REDD+) programme plan. Last week, the State Secretariat for Environment, Climate and Sustainability (Semas) held preparatory meetings with two additional Quilombola communities, in Guarajina and Tocantina. As a preliminary step towards the Free, Prior and Informed Consultation (FPIC) process, the meetings aimed to clarify questions, co-develop public policies, and ensure transparency, according to Semas.

Sweden is planning to launch a second reverse auction for bioenergy with carbon capture and storage (BECCS) technology, with the process expected to conclude before the end of the year, a government body told Carbon Pulse.

European carbon prices ended Tuesday slightly lower after a day of largely directionless trading, swinging to either side of Monday's settlement while gas and power were relatively steady and a number of participants attended the Carbon Forward London Expo event.

Carbon removal (CDR) standard Puro.earth is launching upgrades to its certification platform aimed at making the system faster and easier for suppliers to certify projects.

Ireland will increase its carbon tax rate for fuels to €71 per tonne, starting on Wednesday for petrol and diesel vehicles, according to the 2026 budget released on Tuesday.

The European Commission announced new steel tariffs on Tuesday, saying they will protect EU manufacturers from dumped imports in the transition towards green steel production – and prompting positive reactions in Poland.

RGGI auction volumes on offer at the fourth quarterly sale of 2025 edged less than 0.5% higher, according to a Tuesday notice.

There is minimal risk of flights being diverted away from Europe in order to avoid emissions pricing, and only small increases in ticket prices expected, if the market is expanded to international flights, according to a new report.

Lawmakers from five political parties in the European Parliament have called on the European Commission to borrow future revenues from the Emissions Trading System for heating and transport (ETS2) to start funding decarbonisation measure from this year, in a letter seen by Carbon Pulse on Tuesday.

The Polish climate secretary called on Tuesday for the EU to split purchases of international carbon credits evenly across both ETS1 and ETS2, in order to make the energy transition “easier and more cost-effective”. 

Germany and Italy have jointly called for changes to the EU’s plan to ban cars with internal combustion engines from 2035 – a move that reportedly caught the Social Democrats in Germany’s coalition government by surprise.

Changes to a national US forest certification mean more than 3 million acres (1.2 mln hectares) of forested lands across the country will be designated as conservation areas within two years.

The UK could boost its oil and gas production in the North Sea while remaining on the IPCC's path for reaching net zero emissions globally by 2050, a consultancy argued on Tuesday.

The European Commission intends to adopt provisional benchmarks for its Carbon Border Adjustment Mechanism (CBAM) this year based on historical data, with the benchmarks finalised in 2026.

Wood through the trees - Switzerland has released a new publication on the climate benefits of forests and wood, describing three key services: CO2 sequestration in forests; carbon storage in wood products; and using wood to substitute more carbon-intensive energy sources or materials. The KWHS project by the Swiss Federal Office for the Environment argued that strengthening these services across the country will require holistic management: nature-based forestry, multifunctional forest ecosystems, and an efficient wood industry. All aspects of forest services and wood use must be considered integrally to fully realise their climate potential.

Clean steel - Hascelik has invested €150 mln to build a new green steel plant in Osmaneli, Bilecik province, Turkiye. The facility will produce steel using low-carbon technologies such as electric arc furnaces with magnetic stirring, scrap preheating, and water purification systems, making it one of country's most environmentally efficient plants, the company said. It will operate entirely on recycled materials, supporting circular economy goals and creating around 225 jobs. The project is designed to help Turkiye meet its low-carbon steel production targets and comply with EU CBAM requirements. (GMK Center)

Flag waving - The SBTi has launched a 30-day public consultation to update its Forest, Land, and Agriculture (FLAG) criteria. They’re proposing urgent revisions to Criteria 1 and 4, including: requiring companies with existing non-FLAG targets to adopt FLAG targets within their five-year review period; allowing up to two years to eliminate deforestation (with a hard deadline of Dec. 31, 2030); insisting on a deforestation cutoff date before target validation; aligning no-deforestation commodity scopes with the EU’s regulation; and clarifying required disclosures. The consultation is open until Nov. 6, 2025; a final version is expected in Q1 2026.

A new Dawn - NSB, a German ship management company, has partnered with Phlair to address the shipping sector’s residual emissions via CDR. Phlair will provide carbon removal credits from its Dawn DAC facility, which extracts CO2 from ambient air and stores it permanently underground. The collaboration marks a proactive step by NSB toward climate neutrality, going beyond regulatory compliance. By integrating operational decarbonisation with carbon removal, NSB aims to neutralise both direct (Scope 1) and indirect (Scope 3) emissions, demonstrating a long-term commitment to sustainable and measurable emission reduction within the maritime industry, it said in a recent release.

Kenyan biochar boost - Biosorra, a startup, has secured $3.5 mln in pre-Series A funding to scale biochar production in Kenya. The funding round was led by Atmosfair and Fondo Numbus. Biosorra’s carbon removal credits have been certified by ICROA.The developer has also achieved 24/7 production, with its technology having been fully operational for over a year.

The British chemist and long-time climate advisor to the UK government, David King, hailed the planned US absence at the COP30 climate conference in November as a “big advantage” for UN climate talks as fossil fuel interests will lose a powerful voice at the negotiating table.

Delivering sufficient demand for high-quality carbon removals in the EU will require an EU Removal Compliance System, on top of integrating removals into the ETS, according to a climate non-profit, which proposed several options for the entities covered by such a system.

Niger and the African Development Bank (AfDB) Group have signed a $144.7 million energy sector reform and investment agreement aimed at expanding solar power capacity, modernising the grid, and strengthening governance to attract private capital into the country’s renewables sector.

Agroforestry removals - Isometric has released a draft protocol for carbon removal via agroforestry for public consultation, which closes on Oct. 30. The technique of planting or increasing forest cover within agricultural landscapes has potential to remove up to 310 mln tonnes of CO2 from the atmosphere annually, and also provides other benefits such as boosting food security and enhancing soil conservation, according to removals registry Isometric. The protocol explores agroforestry methods such as silvopasture, alley cropping, orchards, and using trees as windbreaks. It combines remote sensing technologies with detailed field measures, and projects must use dynamic baselines.

Methane reduction trials - A trial led by Mitsui, Kanadevia Corp, and Yanmar Power has achieved a methane slip reduction rate of 98% on LNG-fuelled vessels - exceeding the target of 70%. Full-scale demonstration trials began in May 2025 on routes between Japan and Australia, with the Green Innovation Fund project aiming to be the first globally to implement methane slip reduction technology in the maritime sector, with the technology not yet even established on land. The trials were conducted using the LNG-fueled large coal carrier REIMEI, operated by MOL. Onboard trials will continue through 2026 to evaluate overall system performance and catalyst durability, with the aim of social implementation from 2027 onward.

A working group under Japan's Ministry of Economy, Trade, and Industry (METI) has proposed ways to determine benchmarks for the production of aluminium and three types of industrial materials under the national emissions market.

Even shippers get the blues - Australia’s clean-but-blue ammonia developer NH3 told the Australian bourse Tuesday it signed an MoU with Japan’s MOL and Oceania that will run 12 months and offer the parties the framework to support the establishment of clean ammonia bunkering at the Port of Dampier in the north of Western Australia by 2030. MOL wants to develop a fleet of ammonia duel-fuelled capesize bulk carriers on the West Australia to East Asia trade route, NH3 said. The Australian company will make ammonia via splitting methane but plans a much higher rate of carbon capture than older processes that capture less than 70% of CO2, making the product entirely clean, the company said, and will allow its ‘WAH2’ project to ultimately contribute to clean shipping of Australia's mineral resources.

The world is at risk of missing the COP28 pledge to triple installed renewable capacity by 2030, even though it is on track to add more clean energy between 2025 and 2030 than the current combined electricity capacity of China, the EU and Japan, the International Energy Agency (IEA) said on Tuesday.

India CCUS - BP India is exploring carbon capture, utilisation, and storage (CCUS) pilot projects with hard-to-abate industries, according to Kartikeya Dube, head of country for BP in India. BP is already in talks with several sectors that face challenges in cutting emissions, seeking to test CCUS collaborations even while the company continues sizeable investments in natural gas, solar, bioenergy, and landfill gas, Dube told Outlook Business in an interview. If successful, these pilots could pave the way for scaling CCUS infrastructure in India’s hard-to-abate sectors and inform policy frameworks, regulation, and carbon-market integration in the coming years, he added.

Expand the frontier - ASX-listed Frontier Energy plans to expand the first stage of its Waroona Renewable Energy Project in Western Australia into a multi-stage energy precinct, it told the market. The expansion would involve up to 1 GW of solar energy generation and 660 MW of battery storage by 2031, and will align with the retirement of the state's aging coal and gas generation assets. Frontier highlighted the expansion plan is not dependent on the construction of new grid transmission infrastructure, meaning its proposal would be quicker and cheaper to build.

Australia’s Emission Reduction Assurance Committee (ERAC) on Tuesday formally launched a consultation on the government’s two savanna fire management (SFM) methods.

Market update - Malaysia is gearing up to roll out a compliance carbon market under Article 6 of the Paris Agreement as early as 2026, the government said in Parliament this week. Deputy Minister Huang Tiong Sii confirmed that both - the bilateral cooperation track under Article 6.2 and the Paris Agreement Crediting Mechanism or the Article 6.4 are being developed, with the National Carbon Market Policy nearing its finalisation, The Edge Malaysia reported. The framework will build on the country’s existing Bursa Carbon Exchange, established in 2023. Malaysia has signed MoUs with South Korea and Singapore under Article 6.2. Other technical details such as baselines, a national carbon registry, and corresponding adjustment rules remain under development, he added.

Pulp to power - Malaysia’s Bioeconomy Development Corporation and South Korea’s Polaris Bio have inked a RM700 mln ($154 mln) agreement to build a nationwide network of biogas upgrading facilities that will turn palm oil mill effluent (POME) into Bio-Compressed Natural Gas (Bio-CNG), Business Today reported. The pilot plant will receive RM30 mln to test the model before scaling to over 20 sites. Once fully operational, the scheme is projected to cut up to 384,000 tonnes of CO2e annually and generate international carbon credits under Article 6 of the Paris Agreement.

The first use – Japan’s two largest airlines have become the first to publicly retire carbon credits under the UN's CORSIA aviation offsetting scheme, according to MSCI Carbon Markets. The Architecture for REDD+ Transactions (ART) registry has recorded as cancelled a number of credits for CORSIA use, transacted by Japan Airlines and All Nippon Airways. The credits were sourced from the ART-registered Guyana Jurisdictional REDD+ Project (ART102), the only project to date that both meets ICAO’s Emission Unit Criteria and carries a corresponding adjustment from its host government, MSCI said.

Two non-profits have formed a partnership to develop strategies for clean manufacturing sectors in ASEAN member states, starting with pilots in Indonesia and Vietnam.

The world’s most commonly used carbon offsets suffer from pervasive and long-standing integrity problems, according to a new analysis, with widespread over-crediting, unverifiable baselines, leakage, and impermanence undermining both voluntary and compliance markets.

Nearly twice as many academic experts favour taxes over cap-and-trade for unilateral carbon pricing, while three-quarters strongly recommend the use of a carbon border adjustment mechanism (CBAM), according to the largest global survey of specialists on carbon pricing policy design to date.

Analysts continue to focus on the prospects for linkage between the UK and EU Emissions Trading Schemes as the main near-term price driver for UK Allowances, submitting bullish 2026 price forecasts in Carbon Pulse's latest quarterly poll.

Promising - Japanese shipping major MOL said its trial project for reducing unburned methane has achieved a methane slip reduction rate of 98%, far exceeding the target of 70%. MOL has been working with Kanadevia Corporation and Yanmar Power Solutions to develop methane slip reduction technology for LNG-fuelled vessels through catalyst and engine improvements, in the hope of cutting emissions in the maritime sector. Onboard trials will continue through the end of FY2026 to evaluate overall system performance and catalyst durability, with the aim of 'social implementation' from FY2027 onwards, MOL said.

Team up, reach out – Australian analysis firm RepuTex is collaborating with MSCI to integrate the former's Australian Carbon Credit Unit (ACCU) price assessments into the MSCI One platform, it announced on Tuesday. The team up means international investors will gain greater access to daily pricing insights on the Australian carbon market, RepuTex said, including prices for key ACCU methodologies. The firm has over 1,500 customers on its Energy IQ platform and is the most widely adopted reference for Australian carbon market value, responsible for over 80% of all OTC trading, 90% of all ACCUs issued, and over 75% of Safeguard Mechanism emissions, according to the announcement.

Beep beep – Colorado is boosting state rebates for new hybrid electric vehicles in lieu of President Donald Trump’s rollback of EV tax credits, the Denver Post reported last week. As of next month, the Vehicle Exchange Colorado programme will boost its point-of-sale rebate for new hybrid EVs to $9,000 from $6,000, while the rebate for used EVs will rise to $6,000 from $4,000. The programme covers drivers who earn up to 80% of their county’s median income, and buyers must trade in a gas-powered vehicle at least 12 years old.

Conscious uncoupling – Genesis Energy and renewable energy developer FRV Australia are ending their solar development partnership, the New Zealand gentailer said in a stock exchange announcement on Tuesday. This follows a strategic review by both partners, although they will continue to co-own and run the Lauriston solar plant in the South Island, which came online earlier this year and is expected to produce around 100 GWh of power annually. Genesis COO Tracey Hickman said the dissolution also reflects the increased capabilities in the company’s team, with a further three solar plants in development, as well as geothermal, wind, and battery storage projects. Genesis noted that renewable developments will displace baseload gas-fired generation, which will reduce demand for NZUs.

Not my eminent domain – Republican candidates for Iowa governor voiced vocal opposition against CO2 pipelines during an event on Sunday, the Iowa Capital Dispatch reported. Iowa State Representatives Steven Holt and Eddie Andrews, as well as former representative Brad Sherman and former Iowa public official Adam Steen, all said that they would do away with eminent domain – the mechanism that would allow project developer Summit Carbon Solutions to build its CO2 pipeline on private property. The election will take place in Nov. 2026.

RGGI Allowance (RGA) futures muddled in the mid-$22 range amid the arrival of shoulder season, as traders said weather-driven compliance demand would be the main driver for whether or not prices would stay elevated above reserve trigger levels through the rest of year.

The albedo effect, a measure of how well a surface absorbs or reflects sunlight, could entirely negate the carbon removal capacity of more than 10% of almost 200 forest carbon offset projects studied by researchers in a paper published on Monday.