New desk in town - Novarra BBX launched an institutional carbon credit trading desk with integrations to Xpansive Connect and CBL Markets for global voluntary carbon market access. The platform supports Verra-registered credits across nature-based solutions and industrial decarbonisation projects, offering large-block transactions, spot and forward structures, and bespoke offtake arrangements. CEO Robert DiMarco cited execution risk, verification method changes, and double-counting as ongoing market challenges. The Texas-based firm plans to develop tokenization and digital lifecycle management capabilities for carbon credits in 2026.

Outback storage vault - Japanese startup Planet Savers signed a MOU with Australian Carbon Vault to develop CDR credits using DAC technology paired with geological storage in South Australia's Arkaringa Basin. The storage site offers maximum capacity of approximately 1.6 bln tonnes CO2 across 18,221 square kilometres. The collaboration aims to supply carbon removal credits created in Australia to Japanese companies seeking reliable offsets for decarbonisation strategies. South Australian government supported the partnership.

Deforestation dilemma - Indonesia is rapidly clearing forest in Papua, one of its most biodiverse regions, to develop a state-backed food and energy security project covering around 3 mln hectares, an area roughly five times the size of London. The project aims to cultivate rice and sugarcane, including for bioethanol production, and is being supported by the military, with multiple battalions deployed in the region. Residents and local groups report that soldiers are involved not only in providing security but also in forest clearance, land acquisition, and the eviction of communities. Satellite imagery analysed by the FT shows military posts near development sites, and more than 40,000 hectares were cleared between May 2024 and Nov. 2025, a relatively small portion of the total planned area but at a fast pace. The project is overseen by a former general and sits uneasily alongside President Prabowo Subianto’s climate commitments, including a pledge to reach net zero emissions before 2060. This contrast has been sharpened by deadly floods and landslides in Sumatra, which scientists and officials have linked to deforestation and land degradation from mining and palm oil expansion. A government-commissioned feasibility study estimates that land clearing could generate around 315 Mt of emissions, while independent groups project more than double that amount. The study also acknowledges overlap with protected forests, wildlife sanctuaries, and nature reserves, warning of higher temperatures, disrupted water systems, and soil degradation. Papua hosts many endemic species and had largely intact ecosystems due to its remoteness and the presence of indigenous communities. Indonesia, the world’s fifth-largest CO2 emitter with annual fuel-combustion emissions of about 660 Mt according to the International Energy Agency, has revoked forest protection status for large areas of Papua to enable the project. The development also includes major infrastructure, such as a new road, port, and airport. The project is being led by two Indonesian firms, Jhonlin Group and Merauke Sugar Group. US confectionery company Hershey has suspended both companies from its supplier list due to their involvement. Environmental groups, including Mighty Earth, argue that Indonesia could expand food production through productivity gains and use of degraded land rather than clearing intact rainforest. Critics also point to Indonesia’s past failures with similar large-scale agricultural schemes, including an abandoned rice project in Borneo, and warn that Papua’s acidic wetlands and potential peat soils may be unsuitable for rice cultivation. Indigenous and environmental organisations are calling for the project to be halted, arguing that it risks long-term ecological damage and undermines the rights and livelihoods of local communities, while the government maintains that the military’s presence is part of standard procedures for protecting national strategic projects.

Voluntary carbon market protocols for agricultural soil carbon can generate vastly different numbers of credits for the same underlying farming practices, raising fresh questions about whether such credits are truly equivalent, according to a new study.

Chile’s Ministry of Mining (MMIN) will from 2025-29 participate in carbon pricing discussions aimed at decarbonising the country’s mammoth mining sector.

Tax update - The US Department of the Treasury and the Internal Revenue Service published guidance on Friday for taxpayers claiming the carbon capture and sequestration (CCS) tax credit for activities during 2025. The safe harbour notice allows taxpayers to prepare and submit an annual report for the CO2 captured and stored geologically if the US EPA does not launch its GHG Reporting Tool by June 10, 2026. Taxpayers would need an independent engineer or geologist to certify the CCS activity through 2025. The Treasury and the IRS also intend to issue regulations on the CCS tax credit, also known as 45Q, as it was recently expanded by the One Big, Beautiful Bill. The upcoming regulations will include measurement and verification standards for CCS activities.

The Canadian federal government has launched a consultation on changes to its federal industrial carbon pricing benchmark, outlining proposals to strengthen market function, improve transparency, and ensure consistent coverage across provinces and territories, according to a government discussion paper.

As the end of year approaches, producers increased their net California Carbon Allowance (CCA) holdings in the futures only and futures and options markets, while reducing their RGGI Allowance (RGA) net short position over the Nov. 19-Dec. 9 period, US Commodity Futures Trading Commission (CFTC) data showed.

Quebec first - Canadian project developer Deep Sky has successfully injected CO2 at its Thetford Mines site, it announced Friday. This marks the first geological injection of CO2 in Quebec, the company said. Additional tests are planned to assess injection rate capacity and define scale up potential.

Taking their time - Virginia's State Corporation Commission has suspended its approval of a planned Dominion Energy Virginia natural gas plant that has drawn significant opposition from Central Virginia residents and environmental groups, reported VPM News. Regulators said the suspension will allow them more time to consider an appeal filed earlier this week by Appalachian Voices, the NAACP, and Mothers Out Front. Among other arguments, opponents of the project say Dominion must meet energy efficiency targets under state law in order to build new fossil fuel power plants — targets that the utility has not met.

VA's cap-and-comeback - Virginia Democrats signalled plans to rejoin the RGGI despite outgoing Governor Glenn Youngkin (R) warning the programme increases utility bills, according to Radio IQ. Democratic Senate President Louise Lucas criticised Youngkin for opposing RGGI while using programme revenues in his budget, noting he transferred funds reserved for energy efficiency projects to other priorities. Additionally, Governor-elect Abigail Spanberger (D) unveiled a 17-bill affordability legislative priority package Thursday targeting healthcare, housing, and energy costs, including measures to increase battery storage deployment for lower peak electricity prices, expand low-income weatherisation programmes, establish a Virginia Weatherisation Task Force, and facilitate adoption of portable solar systems including balcony installations, according to CBS6 Richmond. The energy agenda also proposes improved power usage forecasting to avoid demand overestimates causing higher prices and optimised grid utilisation to minimise expensive new transmission investments.

Not so fast - The US DOE’s Office of Inspector General (OIG) Sarah Nelson announced this week that it will be launching an investigation into the DOE’s broad cancellation of $7.5 bln clean energy grant awards. In October, the agency announced the termination of 321 grants awarded to 223 clean energy and decarbonisation projects, which White House Budget Director Russ Vought said targeted Democratic-leaning states. Later that month, Democratic members of Congress sent a letter to Nelson requesting that the OIG initiate an investigation. In response, Nelson said the OIG will audit the DOE’s processes that led to the cancellation of the grants to determine whether those cancellations were in accordance with established criteria. No completion date for the audit was provided.

Rule of law - Recently-stepped down Canadian environment minister Steven Guilbeault said that the federal government should be enforcing its environmental laws to uphold industrial carbon pricing and clean electricity regulations, the National Observer reported. Certain provinces appear to be out of line with such regulations, but Ottawa has not stepped in, he said. The remarks follow Canada's progress report on its climate targets, which the country is failing to meet. 

New York City’s municipal public employee retirement fund earlier this week rejected the comptroller's recommendation to cut ties with multiple asset management companies over their alleged retreat from climate efforts, drawing criticism from the outgoing official.

A UN body launched a call for companies in the private sector to identify possible suppliers of high-integrity Article 6.2 Internationally Transferred Mitigation Outcomes (ITMOs) to Switzerland, it announced this week.

A bipartisan group of New Hampshire lawmakers have introduced legislation to implement stricter emissions caps and other programme changes approved in a RGGI review earlier this year.

The first California-Quebec joint WCI auction of 2026 will offer more than 5% fewer allowances than the Q4 2025 sale, according to a Friday notice.

An effective climate policy framework for the US should incorporate a two-pronged approach beginning with a green industrial policy followed by a carbon pricing mechanism, according to a study published Thursday.

Brazil has overcome a political and technical impasse with the agribusiness sector by redrawing the way carbon emissions are allocated between agricultural production and land-use change under its national climate plan.

Clean Maple GDP slips - The percentage of Canada’s GDP generated by the environmental and clean technology products sector declined by 1.1% to C$70 bln ($50.74 bln) in 2024, according to new figures by Statistics Canada. The decline follows gains of 1.5% in 2023 and 4.9% in 2022. The sector represented 363,094 jobs. In 2024, clean technology products (50.5%) and environmental products (49.5%) equally contributed to the ECT products sector's GDP.

Cross-state solar - The Connecticut Department of Energy and Environmental Protection (DEEP), along with the Massachusetts Department of Energy Resources, Maine Public Utilities Commission, and Green Mountain Power in Vermont, have announced 173 MW of new solar generation through a collaborative, multistate, competitive solicitation. The group said the projects were selected through a new zero-carbon energy resources competition and are expected to come online before the end of 2030. They’re designed to take advantage of federal clean energy tax credits before they expire.

Oversight omissions - A US EPA Office of Inspector General (OIG) audit published this week found the agency lacks adequate controls to oversee post-award performance of grants funded under the Infrastructure Investment and Jobs Act (IIJA), increasing the risk of fraud, waste, and abuse. The report said EPA regional offices missed or delayed required monitoring plans, failed to complete many baseline reviews, and did not properly document or maintain grant files, even as IIJA-funded grants accounted for about $22.6 bln of the agency’s $38.1 bln active grant portfolio as of Sept. 30, 2024.

Hydrogen holdback - A US federal judge signalled she is likely to restore cancelled US DOE funding for hydrogen and other climate-related research awarded to the University of California, questioning the Trump administration’s process for cutting the grants, E&E News reported. During a hearing on Thursday, US District Judge Rita Lin said the university system’s request for a preliminary injunction mirrors an earlier case in which she ordered the administration to reinstate more than $500 mln in UC research funding, finding the cuts were likely arbitrary and capricious and violated federal administrative law. Lin indicated that DOE’s October decision to terminate energy grants, including funding under the Alliance for Renewable Clean Hydrogen Energy Systems programme, followed the same pattern as the earlier cancellations she blocked.

Understanding Texas methane – In 2022, the global consultancy S&P Global Energy changed the way it measures methane emissions stemming from Texas' Permian Basin. Using overflight data gathered by the emissions technology company Insight M, analysts determined that the methane intensity of Permian oil and gas decreased by 24% from 2023-24, the company said Friday. The average GHG intensity of upstream Permian production is estimated to be 22 kgCO2e per barrel of oil equivalent. The level of methane abatement in recent years has been so significant, it said, that it has led to absolute emissions reductions even as oil and gas production has continued to grow. Absolute emissions were down nearly 25 mln tCO2e in 2024 compared to 2022, while production increased by 500,000 boe/day.

Solar setback - A coalition of tribal, environmental, local, and consumer groups led by the Oregon Environmental Council filed a lawsuit Thursday challenging Trump administration rules that make it harder for wind and solar projects to qualify for federal tax credits. The complaint, filed in the US District Court for the District of Columbia as case 1:25-cv-04400-CKK, targets the IRS’ abrupt removal of a longstanding eligibility pathway used by developers for more than a decade. The change, directed by President Trump, eliminates the Five Percent Safe Harbor for most wind and solar projects without statutory or evidentiary justification. Plaintiffs argue the move ignores industry reliance, undermines project financing, and reflects a broader administration effort to restrict renewable energy development.

EU carbon prices recorded a 1.2% weekly increase after the market advanced strongly on Friday afternoon, largely erasing the previous two days' losses as liquidity declined ahead of the holiday break, while UK allowances continued to strengthen as traders bought in anticipation of a convergence in the two markets before an expected linking agreement next year.

Signal saturation - Researchers have produced the first annual maps of canopy height and aboveground biomass across Africa’s dense tropical forests for 2019–22, addressing long-standing data gaps caused by satellite signal saturation in high-biomass regions. Using a deep learning model trained on GEDI LiDAR data and Sentinel imagery, the study maps canopy height at 10 m resolution and estimates biomass using field inventories and wood density data. Researchers said the results outperform recent biomass datasets, capture large-scale spatial gradients of aboveground biomass across African dense forests, and provide an open, scalable tool for monitoring forest disturbance and interannual biomass dynamics.

Colombian NDC 3.0 – Colombia formally registered on Friday its Nationally Determined Contribution (NDC) 3.0 to the UNFCCC, targeting a maximum emissions level of 155-161 MtCO2e per year by 2035, adding ambition to its second NDC, which vowed to cap the country's emissions at 169.4 MtCO2e per year by 2030 – more or less half of the current emission levels. These levels are absolute to each year and do not reflect a reduction compared to a certain baseline. An initial version of the NDC 3.0 published September, already mentioned vaguely the country's intention to regulate Article 6 (6.2, 6.4, and 6.8) of the Paris Agreement, have its national ETS (Spanish: PNCTE) running by 2030, fully operationalise its national emissions reductions registry (RENARE), maintain its carbon tax, and increase the state's involvement in REDD+ and other carbon markets. Friday's submission added a target to reduce emissions from black carbon between 6,130-8,873 tonnes by 2035 compared to 2014 levels, and reduce the deforestation rate to 37,500-49,999 ha lost per year.

J-REDD+ safeguards – In Para, Brazil, the State Secretariat for the Environment, Climate and Sustainability (Semas) presented this week at a local forum the REDD+ Safeguards Information System (SISREDD+) initiative for its jurisdictional programme, which is under development. SISREDD+ is an instrument designed to monitor socio-environmental safeguards, seeking to consolidate a robust safeguards monitoring model by integrating data, strengthening social oversight, and supporting public climate policies, Semas said.

Indigenous REDD+ – Brazil’s Ministry of the Environment (MMA) joined a meeting this week on a carbon project in Rondonia led by the Indigenous Paiter Surui people. The REDD+ Paiter Surui Project, launched in 2009, was suspended in 2018 and resumed in 2024, with greater community engagement, new partnerships, and accumulated experience. The group carried out free, prior, and informed consultations (FPIC) in 37 of the 38 Indigenous villages in the territory, and invited different actors for an exchange of experiences, to present achievements and prepare next steps. MMA participated through the Executive Secretariat of the National Commission for REDD+ (CONAREDD+).

Amazonian J-REDD+ – Representatives from ten Brazilian states met this week in Sao Luiz, Maranhao, to discuss joint efforts to address socio-environmental challenges in the Legal Amazon, strengthening interstate cooperation and coordinated action on priority environmental issues. The workshop provided an important forum to share experiences and advance discussions on jurisdictional REDD+ (J-REDD+) programmes and access to climate finance, the government of Acre said.

Belgium was the country that checked the lowest share of compliance emissions trading data across the bloc in 2024.

Unilateral climate action can increase emissions embedded in imports, especially via carbon pricing, while other policy tools lower import carbon intensity and encourage cleaner sourcing, a new working paper from the OECD showed.

Portugal's government has launched a two-year programme aimed at advancing the restoration of seagrass meadows, eyeing the development of carbon credit methodologies tailored to these ecosystems.

Sunny side up - Project developer, SunCulture, has sold 10,000 credits for its project for solar powered irrigation project in Kenya (VCS2989) to EDF Trading, it announced Friday. The developer was issued almost 40,000 credits from the Verra registry at the end of November, bringing total issuance to just over 93,000 credits to date. Beyond irrigation, SunCulture has expanded its product and service portfolio, offering micro-health and credit-life insurance through a partnership with Turaco, and parametric weather insurance in collaboration with Humanity Insured and IBISA.

Japan will implement upper and lower price limits in its national emissions trading system (ETS), when it enters full operation in 2026, according to government documents released Friday.

Key carbon flows linked to technologies such as direct air capture (DAC), carbon capture and storage (CCS), and carbon capture and utilisation (CCU) remain untracked in many cases under current greenhouse gas inventory frameworks, a government-backed study has found.

Chinese batteries – Chinese solid-state battery developer WeLion New Energy has reported a laboratory breakthrough that could reshape the future of electric vehicles (EV). The company said it has achieved an energy density of 824 watt-hours per kilogramme (Wh/kg) in solid-state battery laboratory tests, far beyond today’s EV battery benchmarks. Chairman Yu Huigen said the company hoped to break the 1,000 Wh/kg in the long term. Most lithium iron phosphate batteries used in mass-market EVs deliver around 150 to 300 Wh/kg, giving a driving range of 200 to 400 miles (320-460 km). Higher energy batteries allow for a longer driving range with a lighter battery pack.

Russian tariff extension - The Russian Registry of Carbon Units has extended the current tariffs until Mar. 31, 2026. This is in accordance with the resolution of the government of the Russian Federation dated Mar, 30, 2022.

EV battery boost – US company Factorial has moved one step closer to commercialising its longer range solid state battery for electric vehicles (EV) after striking a ‘business combination agreement’ with a blank check company, Cartesian III, ahead of an initial public offering on Nasdaq. The agreement values Factorial at around $1.1 billion before the merger, which also includes $100 mln in new capital by institutional investors. Factorial’s solid-state cells have been validated through OEM collaborations, including real-world testing in a lightly modified Mercedes-Benz EQS test vehicle achieving over 1,200 km of range on a single charge with 106 Ah cells. Stellantis-lab testing verified 77Ah cells demonstrating high energy density, fast charging, and robust performance across temperature extremes. Cartesian III currently holds approximately $276 million in cash in trust. The combined company (Factorial and Cartesian III) expect to have an equity value of around $1.5 bln at the time of the listing on Nasdaq under the ticker symbol FAC.

As India moves closer to operationalising its Carbon Credit Trading Scheme (CCTS), global experts have urged policymakers to embed market stability mechanisms from the outset to avoid facing a prolonged periods of low prices, surplus of allowances, and politically difficult reforms.

The Asian Development Bank (ADB) and the government of Mongolia launched a pilot project on Friday, aiming to restore areas of the country’s grassland, boost carbon sequestration, and inform an upcoming credit issuance regulation.

Large agrifood companies operating in the EU fail to adequately disclose their most significant negative environmental impacts beyond climate, including those associated with biodiversity, a study has said.

Test drive - Since launching in October, the CAD Trust has been focusing on infrastructure development and internal testing, it said in an update Friday. However, it will commence testing and integration for connected and prospective registries in 2026. Data users are welcome to get involved in Q1 2026 and should reach out to the organisation by January if interested.

Supply chain bottlenecks and trade barriers are slowing the rollout of new offshore wind farms across Europe, widening a gap that puts the bloc’s 2030 energy and climate goals at risk, a new report has warned.

Carbon tax slammed - Ineos CEO Jim Ratcliffe has critiqued the UK government over its carbon pricing regime the day after his chemicals company benefitted from more than £120 mln in state support to help save Britain's last ethylene plant at Grangemouth. The deal is expected to protect some 500 jobs, plus hundreds more in the supply chain. Ratcliffe lambasted the country's energy strategy and its windfall tax on oil and gas production in the North Sea, calling carbon pricing "the most idiotic tax in the world". A UK govt spokesperson said the Budget sets a clear path for the energy profits levy to end by 2030 at the lates, or earlier if the price floor is triggered, giving the sector and its investors the long-term certainty to plan, invest, and support jobs. (the Scotsman)

The UK ETS Authority has published its free allocation table for 2026, heralding a 2.8% drop in the annual free handout of UKAs to industrial installations and bringing the total reduction in free handouts since the market started to more than one-third.

Asian expansion - Japanese energy major Idemitsu has invested in Germany’s Carbonfuture, a provider of digital MRV platforms for CDR credits, it has announced. The investment was made through Idemitsu’s US subsidiary, Idemitsu Americas Holdings, alongside Carbon Removal Partners – Systemic Ventures I, a fund backed by Idemitsu. The companies plan to focus on the use of Carbonfuture’s digital MRV platform to support the accurate measurement, data transparency, and verification required for highly durable CDR credits. Carbonfuture’s platform, already adopted in European and North American markets, supports credit trading across technologies such as biochar, direct air capture, BECCS, and accelerated weathering.

Cash in the wind - Australia's Clean Energy Finance Corporation (CEFC) is investing A$147 mln ($97 mln) to help develop the 256.2 MW Carmody’s Hill Wind Farm in South Australia, supporting the state’s goal of reaching 100% renewable energy by 2027, it announced. When operational, the wind farm’s 42 turbines will connect to the grid and generate enough clean electricity to power over 195,000 homes, with more than 40% of output already secured through an offtake agreement with Snowy Hydro. CEFC said this financing demonstrates its role in attracting private capital, accelerating large-scale renewable projects, and further decarbonising Australia’s electricity grid.

The Australian Productivity Commission (PC) has delivered its final report to the government, urging it to expand the Safeguard Mechanism to other sectors such as electricity and lower its emissions threshold.

The Supreme Court of New Zealand has ruled that climate change must be considered when the government offers oil and gas exploration blocks for tender.

An agricultural machinery maker has signed an agreement with a local developer for the sale and purchase of Joint Crediting Mechanism (JCM) credits generated in the Philippines, in a step towards using agricultural decarbonisation to offset corporate emissions, the company announced this week.

A rule change request has been submitted to the Australian Energy Market Commission (AEMC) seeking to charge electricity generators according to their carbon emissions.

Colorado published potential updates on Wednesday to its GHG Emissions and Energy Management for Manufacturing (GEMM) programme, which establishes a credit trading programme for the state's highest industrial and manufacturing emitters.

More than 30 years after being mandated by the Constitution, Colombia’s president on Wednesday signed the decrees recognising the country’s first eight Indigenous Territorial Entities (ETIs), marking the beginning of a process to establish governance systems and financing mechanisms in new jurisdictions covering millions of hectares of Amazon rainforest.

Australia's only carbon capture and sequestration (CCS) project participating in the country's carbon market received a massive issuance of Australian Carbon Credit Units (ACCUs) for the second month in a row in November, as the market starts to wind down for the end-of-year holidays.