- Thu 23:34Show your footprint - Democratic US lawmakers introduced legislation directing the Environmental Protection Agency (EPA) to establish voluntary guidance for companies to disclose their indirect Scope 3 greenhouse gas emissions using standardised methodologies. The Standardised Calculation of Operational Polluting Emissions (SCOPE) Act, led by Senator Adam Schiff in the Senate and Representatives Don Beyer and Kevin Mullin in the House, aims to replace the patchwork of company-specific reporting systems with a single uniform framework. The bill is backed by several environmental groups including the Sierra Club, Natural Resources Defense Council, and Environmental Defense Fund.
- Thu 23:33CCS captured - Three bills targeting carbon capture and storage have emerged in the Alabama legislature following resident opposition to a project in Covington County, News 4 reported. Two House bills (HB 428 and HB 431) would give local governments authority to block CO2 injection wells and levy a 20% tax on underground carbon storage, with revenue split between the state and local governments. A Senate bill (SB 266) mirroring the Covington County ban has already passed the Senate and heads to the House. All three bills follow meetings between legislators and constituents who raised concerns about a project proposed by Reliant Carbon Storage.
- Thu 23:33Restoration policy – In Brazil, a policy to encourage ecological restoration in the state of Goias is advancing. On Thursday, the Legislative Assembly of Goias approved, in an initial vote, a bill aimed at restoring devastated and degraded ecosystems, seeking to recover the structure, function, and natural biodiversity of affected areas. The public policy would include fiscal incentives and credit lines for rural properties that adhere to environmental restoration projects, while implementation would be carried out by the state’s environmental agency. The bill will now return to the plenary for a second vote before final approval.
- Thu 23:32Hearing held – The Washington Department of Ecology held a public hearing on Thursday for proposed revisions to its US Forest offset protocol under its cap-and-invest programme. Officials outlined updates including revised improved forest management (IFM) baselines and leakage rates, adjusting forest management requirements, adjusted buffer pool contributions, aggregation options for small projects, and other provisions, while indicating a target of June 10, 2026 for adoption. During the hearing, two speakers questioned offset integrity and permanence, particularly wildfire and biomass assumptions. Written comments are due by March 13, ahead of a Concise Explanatory Statement and final decision. The next online public hearing will take place on March 3.
- Thu 23:23California’s policy advisory office has recommended the legislature reject Governor Gavin Newsom’s proposed sustainable aviation fuel (SAF) tax credit, calling it an expensive approach to lowering emissions.
- While Mexico and Colombia finalise key components of their emissions trading systems (ETS) ahead of publishing implementing decrees this year, Chile advances on operational rules for Article 6 and its integration with other environmental market mechanisms, officials from the three countries said during a panel on Wednesday.
- Thu 22:51Current satellite-based forest monitoring pipelines often function as de facto “black boxes” – complex, region-specific, and difficult to replicate, a webinar heard this week.
- Thu 21:45The administration of US President Donald Trump (R) is drafting a new diplomatic memo against the International Maritime Organization’s (IMO) proposed carbon price plan, media reported on Thursday.
- Thu 20:03The US EPA is considering a plan to require big oil refiners to make up for the waived biofuel blending volumes obligations under the Renewable Fuel Standard (RFS), according to a media report on Thursday.
- Thu 19:59
Harnessing Hell's heat - The UK has switched on its first deep geothermal power plant at United Downs in Cornwall, marking the country’s first use of super-heated underground water to generate electricity. Developed by Geothermal Engineering Ltd (GEL) over nearly two decades at a cost of £50 mln, the project involved drilling three miles below the surface - the deepest onshore well in the UK - to access water heated to nearly 200C by granite rock. This heat is used to drive turbines, producing continuous, “always-on” renewable electricity sufficient for up to 10,000 homes. The power has been contracted to Octopus Energy for delivery via the national grid. Deep geothermal differs from shallow geothermal systems such as heat pumps because it reaches much higher temperatures capable of generating electricity, not just heating. While geothermal energy offers stable, 24/7 output without fuel price volatility, the British Geological Survey and industry representatives noted that high upfront drilling costs present a major barrier to wider deployment. The project received funding from private investors and £15 mln from the European Development Fund. In addition to electricity, the plant will produce lithium carbonate from underground fluids - the UK’s first domestic commercial lithium supply - initially around 100 tonnes per year, with plans to scale up significantly. The UK has further geothermal potential in regions such as Scotland and northeast England, though no additional deep geothermal electricity projects are yet approved. Industry stakeholders say stronger government policy support is needed to attract investment. While shallow geothermal systems are expanding more rapidly due to lower costs, global investment in deep geothermal electricity is rising quickly, driven partly by growing electricity demand from data centres and clean energy needs. (BBC)
- Thu 17:20Exceeding expectations - Italian utility Eni has reported fourth-quarter profit that exceeded analyst estimates thanks to production gains that helped offset lower oil and gas prices. Adjusted net income totaled €1.2 bln, surpassing the €991.2 mln average estimate. The company said it benefitted from output that rose more than 7% from a year earlier, buoyed by projects in Angola, Indonesia, Norway, and Congo. This contrasts with several European peers such as Shell and BP that published disappointing results. Eni’s production averaged 1.84 million barrels of oil equivalent a day in 4Q, and expects growth this year to be level with 2025-28 guidance. It forecast net capital spending of about €5 bln for 2026. (Bloomberg)
- Thu 17:17EU carbon allowance prices nose-dived by as much as 4.6% early on Thursday morning before recovering half their losses over the rest of the day as traders responded to yet more comments from European lawmakers, with one minister calling for the market to be "suspended" during the upcoming review process.
- Thu 17:14Winds at its back - Portuguese utility EDP has reported a 44% rise in 2025 net profit, on the back of strong earnings from its renewable division arm, which come despite a fall in gains from divestitures of older renewable plants. Consolidated net profit rose to €1.15 bln. EDP said it booked €64 mln in capital gains from selling wind and solar parks last year, down from €181 mln in 2024. EBITDA rose 5% year-on-year to more than €5 bln, while operating costs fell 2% to €1.9 bln, despite installing 2.1 GW of new capacity last year, which it said reflected "increasing efficiency". (Reuters)
- Thu 17:13Several of Chile's ministries and the state-owned BancoEstado have created a public-private initiative with Chilean industries to facilitate the participation of small and medium-sized forest landowners in carbon markets.
- Thu 17:00A European shipping body is backing the creation of a reliable supply chain for greener shipping fuels, and has called to de-risk investments using national revenues from the EU's carbon pricing scheme.
- Thu 16:58The Symbiosis Coalition has updated its quality criteria, expanding its remit to include mangrove restoration projects in addition to those focused on terrestrial reforestation and agroforestry.
- Thu 16:51Stay tuned - Chile aims to launch a pilot cap-and-trade system by Mar. 2027, according to Juan Pedro Searle, head of the Carbon Markets Development Unit at the Chilean Ministry of Energy. That's according to an interview with the Partnership for Market Implementation (PMI), the World Bank initiative that is supporting Chile in this endeavour. The ETS would cover just the energy sector, Carbon Pulse understands. The March end date coincides with the end of Chile's three-year PMI support programme. It is also consistent with plans dating to July 2024 to launch a pilot ETS for 2026-27. The future of Chile's climate initiatives will ultimately be determined by the incoming right-wing administration of President-Elect Jose Antonio Kast, who will on Mar. 11 assume the role from outgoing left-wing President Gabriel Boric.
- Thu 16:48Drax delivers - UK power company Drax exceeded annual profit expectations and raised its dividend on Thursday, supported by strong pellet output in North America and record renewables generation, with shares rising to a near two-decade high. The company, which has benefitted from elevated wholesale prices of recent years raised its full-year dividend by 11.5% to 29 pence per share, and forecast 2026 core earnings in line with the market view. Drax reported core earnings of £947 mln for the 12 months ended Dec. 31, 2025, down almost 11% from a year ago but still ahead of analysts' forecast of £914 mln on average, according to a company-led consensus. Its shares hit their highest level since Aug. 2006, before paring some gains to trade up 3.5% at 913 pence. CEO Will Gardiner has said he expects core profit of £600–700 mln in 2027 as Drax moves onto the UK’s updated low‑carbon support regime, with earnings expected to grow from there. This follows Drax's announcement it may cut more than 350 roles as it adapts its business structure. (Reuters)
- Thu 16:41Two groups representing EU industries have urged the European Commission to avoid proposing changes to the Emissions Trading System (ETS) that would weaken the price of European carbon allowances - contradicting pressure from other lobbies.
- Thu 16:41Poland, supported by eight other EU countries, called for urgent political action to help the bloc's ailing chemicals sector, mainly by revising the phaseout of free carbon allowances to industry under the EU Emissions Trading System (ETS) and by amending technical values that determine permit handouts, during a ministerial meeting in Brussels on Thursday.
- Thu 15:45Balancing act - German Chancellor Friedrich Merz called for partnership and ongoing discussion with China on his first visit to the country as chancellor. Accompanied by a large business delegation, Merz made statements calling to enhance the "strategic partnership" with China, in a bid to reset relations that have been dampened by a significant trade deficit with the world's second-largest economy. Xi welcomed his comments, whilst Premier Li Qiang expressed China's wish to cooperate in areas like automobiles and chemicals as well as AI and biomedicine. European leaders have been looking to strengthen their relationship with China as the rift widens with the Trump administration in the US, though must balance preservation of their own industrial interests with supporting China's requests for economic partnership. (Reuters)
- Thu 15:26The Norwegian parliament voted Thursday to scrap its 2030 climate neutrality target after lawmakers and climate NGOs raised concerns about its cost and impact, with experts estimating this may weaken short-term demand for Article 6 linked carbon credits.
- Thu 15:25Europe installed over 19 GW of new wind power capacity in 2025, over 90% of it onshore, with investment topping €45 billion – but tampering with the electricity market design, or making changes to the EU Emissions Trading System (ETS), would have a negative effect on investment into the sector, an industry body warned on Thursday.
- Carbon removal (CDR) policies could misjudge climate benefits by assessing activities at the facility level while overlooking emissions from the wider systems they depend on, a new report has found.
- Thu 15:19A carbon procurement and intelligence platform has partnered with a provider of geospatial mapping and carbon stock data to support companies and investors report on their Scope 3 impact and mitigate those emissions with environmental certificates.
- Thu 15:04The upcoming reform of the EU Emissions Trading System (ETS) will aim to turn the bloc’s carbon market into “an investment tool” to modernise European industry, so it is no longer seen only as “a taxation tool”, the European Commission said on Thursday.
- Thu 15:00At least 13 EU industry ministers, including German, French, and Italian officials, have signed a joint statement calling for "a pragmatic approach to free allocation", among other measures to ease carbon costs for the bloc's industrial sector.
- Thu 15:00Europe's first-mover carbon capture, utilisation, and storage (CCUS) projects need to reach a final investment decision this year, or put the EU at risk of missing its climate goals for 2030 and 2040, an industry association warned on Thursday.
- Thu 14:08CDR play - The Lego Group has expanded its durable carbon removal (CDR) portfolio with ClimeFi across the three pathways of biomass geological storage, mineralisation, and marine carbon removal. They form part of the toymaker’s DKK 18 mln (€2.4 mln) pledge to four CDR projects - three durable CDR projects through ClimeFi, and one nature-based reforestation project in Mexico through Climate Impact Partners. This brings Lego's total commitment in CDR to DKK 54 mln, the release stated.
- Thu 13:44Mounting political pressure to ease prices on the EU's Emissions Trading System (ETS) is fuelling suggestions that the bloc establish a UK-style cost-containment lever – even though the British model has been criticised for failing to act as an effective safety valve.
- Thu 13:32Form a line - Two procedural instruments have been published under the Paris Agreement Article 6.4 mechanism to guide how stakeholders interact with approved methodologies. The first is the Methodology/Tool Revision Request Form, used when proposing modifications to an existing approved methodology. It requires the methodology reference and version, a revised document highlighting changes, a clear justification, and authorised signatory contact details. The official template must be used without alteration. The second is the Methodology/Tool Clarification Request Form, used when stakeholders need interpretation or guidance on applying a methodology. It requires a description of the issue, methodology reference, submitter affiliation (e.g., project participant, national authority, auditor), and authorised contact information, also using the fixed template.
- Thu 13:04A new playbook sets out key actions to scale up the number of Africa-based validation and verification bodies (VVBs) in the voluntary carbon market – to reduce project delays and cost overruns, and deliver greater socio-economic benefit for the continent.
- The widely cited $100 per tonne figure for the levelised cost of captured CO2 in direct air capture (DAC) masks wide variation in individual project costs and depends heavily on assumptions around energy, location, and financing, according to a Dutch DAC technology provider.
- Whether US financial firms decide to rejoin the newly relaunched Net Zero Asset Managers initiative (NZAM) will largely depend on the legal risks around ESG engagement on their home turf, experts say.
- Thu 12:30Up to 1 million CORSIA-eligible cookstove credits will be auctioned by the International Airline Trade Association (IATA) in March that will test whether the spot price has tumbled into a range of $15-16.
- Thu 12:20The UK government has formally published its first Sustainability Reporting Standards (SRS) for companies voluntarily wishing to disclose their sustainability actions, with the new standards based on a global baseline.
- Thu 12:19Collateral damage - Hardwood trees harbouring heart rot disease emit far more methane than their healthy counterparts, according to new research from the University of Notre Dame Environmental Research Center (UNDERC). The study has implications for the general assumption that upland forests are robust consumers of methane. Heart rot disease is a pervasive fungal infection compromising the structural integrity of hardwood trees. The decay weakens trees from within, leading to fractures in the bark that release methane and as the disease gets worse, the fractures become more numerous, leading to methane produced inside the tree to be vented to the atmosphere. The finding challenges earlier assumptions about the primary origin of methane uptake and emission in upland forests. (Bioengineer.org)
- Thu 12:06Vietnam has issued a circular clarifying long-awaited rules that will govern its national carbon registry, as the Southeast Asian country moves closer to launching emissions trading later this year.
- Thu 11:58Green finance - Banco Bilbao Vizcaya Argentaria (BBVA) channeled €134 bln into sustainable business last year - up 44% on the 2024 level. The 2025 figure "marks an annual record for BBVA, which aims to mobilise €700 bln between 2025 and 2029", wrote Javier Rodriguez Soler, head of sustainability and corporate and investment banking (CIB) at BBVA on LinkedIn. It consolidates sustainability as a real growth driver at the bank, as well as a strategic lever to open new markets and attract new clients, he said.
- Thu 11:54Delivery partner - Removals marketplace Supercritical has transacted the largest volume of delivered Puro.earth carbon removal credits for the second year in a run, it announced Thursday. Last year saw 63, 296 Puro.earth-issued credits transacted on the platform, including credits where Supercritical acted as counterparty. Supercritical's role as Puro.earth's leading marketplace partner for two consecutive years "reinforces its role as a trusted procurement partner for buyers who prioritise verified delivery alongside long-term market development", the statement read.
- Thu 11:37The voluntary carbon market (VCM) is drawing new institutional fixed-income investors, buyers, and funds – but several forms of risk and taxes are spooking others, a webinar heard.
- Thu 11:34Precision subsoil biochar application significantly increased soil organic carbon stocks in a three-year German field trial, while regenerative agriculture practices without biochar produced no statistically significant gain, according to research released Thursday.
- Thu 11:09Monitoring - Paris-based CarbonFarm has teamed up with Asvata, backed by Indian conglomerate RPG Enterprises, to provide satellite-based digital monitoring for a rice methane reduction programme in the state of West Bengal, the firms announced on LinkedIn Thursday. The AWD program covers more than 30,000 smallholder farms. CarbonFarm will also supply field-level satellite observation and track water usage.
- Thu 10:03Border carbon adjustments (BCAs) make it possible for countries to impose the pain of carbon pricing at home – but questions of how much support to give developing exporter countries, and how far to recognise foreign climate policies, raise complications that have not yet been resolved, according to experts.
- Thu 09:45South Korea's top financial regulator is aiming to significantly expand government support for climate finance for the next decade, while institutionalising mandatory environmental data disclosure.
- Thu 09:39Indonesia’s growing fleet of captive coal power, built largely to feed its nickel boom, could use natural gas as a stepping stone towards decarbonisation, a report said Thursday, calling it the most feasible route to cutting short- to medium-term emissions.
- Thu 09:32The UNFCCC has approved the first-ever issuance of credits under its Article 6.4 mechanism, also known as the Paris Agreement Crediting Mechanism (PACM), in an effort to channel finance into verified emissions reductions.
- Thu 09:03Strategic advice - Carbon data provider Sylvera has launched a new policy advisory board, to help ensure its platform continues to support the next generation of high-integrity climate investment, it said in a release Thursday. The new board consists of Molly Peters-Stanley, senior fellow at Sylvera with experience in CORSIA and Article 6, David Carlin, who founded and led the UNEP FI programmes on climate risk, William Otieno, regional lead for east and southern Africa at UNFCCC, Lisa DeMarco, senior partner and CEO at law firm Resilient, and Kazuhisa Koakutsu, director of the Article 6 Implementation Partnership (A6IP). The board will provide strategic guidance on anticipating policy developments in carbon markets; providing thought leadership on how policy, integrity, and data intersect; and providing outreach and engagement with governments, regulators, and standard setters.
- Thu 08:45While France fully supports the decision to include international credits in the EU’s 2040 climate target, it also issued a statement seeking “clarification” that credits delivered under Article 6 of the Paris Agreement will be kept out of the bloc’s carbon market.
- Thu 08:08Italy plans to request a suspension of the EU Emissions Trading System (ETS), pending a thorough revision, a senior minister told journalists at the start of the EU Competitiveness Council on Thursday, sending benchmark carbon prices tumbling below €70 per tonne.
- Thu 06:28An Indian carmaker has secured registration for the world’s first modal shift transportation project to generate carbon credits, with its Gujarat in-plant railway siding approved under Verra’s Verified Carbon Standard (VCS) programme, the company announced.
- Thu 06:26Weak demand - Thailand’s gas-fired power fleet is running far below capacity, with seven privately owned plants operating at under 10% utilisation in 2025, according to a new report. The underused plants, totalling more than 11 GW, have cost the state utility and consumers about THB 159 bln ($5.02 bln) since 2023, the report said. Last year, the country suspended four power plants, including three gas facilities, citing oversupply, and delayed new capacity until 2029. Despite this, Thailand’s draft power plan still targets 6.3 GW of new gas capacity by 2037. The country is also increasingly reliant on costly LNG imports as domestic gas output declines, doubling LNG’s share in the supply mix, the report added.
- Thu 06:24The UN General Assembly (UNGA) is a crucial, but not the only, avenue to bring the International Court of Justice’s (ICJ) landmark climate advisory opinion to life, said the director of the NGO which kickstarted the campaign, pointing to the opinion's applicability to the UNFCCC, finance and trade talks, as well as human rights bodies.
- Thu 05:40Laos flood plan - Laos will launch a $6.5 mln wetland restoration project to help address severe urban flooding, with plans to rehabilitate degraded wetlands to absorb stormwater and ease pressure on drainage systems in and around Vientiane, its largest city. The initiative – known as the NATURA Project – will focus on restoring natural water retention areas, improving early warning systems, and strengthening infrastructure resilience, in response to increasingly frequent and intense floods that have caused damage to homes, roads, and economic activity. The project has received grant from the New Zealand government through the Global Green Growth Institute and will support the restoration and development of the Nong Loup Ian area in Nonkhilek village, Sikhottabong district, which will serve as a pilot site for applying nature-based solutions to urban flood management plans.
- Thu 04:59Indigenous carbon project developers have urged the Australian government to speed up reforms to its carbon markets that strengthen Indigenous rights, as the government teases on when new savanna fire management (SFM) methods will be finalised.
- Thu 04:57MoU renewal – The Global Green Growth Institute (GGGI) and the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) have renewed their MoU to continue their work to advance climate finance in the APAC region for another five years, the Seoul-based organisation said in a press release on Wednesday. This includes the promotion of carbon pricing instruments and green bonds to drive climate-resilient growth and inclusive poverty reduction, it added.
- Thu 04:57Critical support - The Australian Renewable Energy Agency (ARENA) has committed A$5 mln ($3.5 mln) to support a low carbon copper production pilot project, it announced. The agency said funding will be allotted to Banksia Minerals which has developed a breakthrough electrochemical technology which enables the efficient processing of low-grade copper resources that are typically uneconomic with conventional methods, while reducing energy use and emissions. Funding will be provided through ARENA's Advancing Renewables Program, delivered in two stages over three years to help de-risk pilot plant development and support the project progress from from laboratory prototype to field demonstration.
- Thu 00:58An initiative of investment managers committed to climate action has officially relaunched, backed by more than 50 asset owners representing $3.7 trillion in assets, but with substantially weaker requirements.
- Thu 00:47Testbed – Australia's Future Energy Exports Cooperative Research Centre (CRC) has secured a lease with Development Western Australia to construct a multi-user, open-access testbed dedicated to ramping up the commercialisation of new energy solutions, it announced in a press release. The first stage of the Kwinana Energy Transformation Hub, south of Perth, will finish construction in October and be designed as an R&D hub to de-risk decarbonisation technologies as well as support training and skills development for the workforce needed as the energy transition unfolds, the CRC said. The site's location offers access to hydrogen, CO2, natural gas, and other key inputs, making it unique in Australia for demonstrating emerging technologies alongside industry operations, it said.
- Thu 00:31Insurance and emissions - New Jersey's Senate on Tuesday passed two bills (S-685 and S-867) that would establish task forces to study GHG emissions from motor vehicle fleets and the impact of climate change on property insurance rates. The first bill would create a Fleet Conversion Task Force to recommend policies for shifting commercial vehicles to zero-emission alternatives. The second would set up a joint task force to assess how climate change affects residential and commercial property insurance premiums, with a focus on flooding. Sponsor Senator Bob Smith (D) said state lawmakers must act as federal agencies retreat from regulating GHG emissions.
- Thu 00:14The pre-COP31 summit will be hosted by Fiji in October, the Pacific Islands Forum (PIF) announced on Thursday.
CP Daily News Ticker: 26 February 2026
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