Fuel fix - A Hawaii Senate bill that would establish a clean fuel standard for transportation advanced to the House this week after clearing its third reading in the Senate. The measure directs the state Department of Transportation to adopt rules by Jan. 1, 2028 to implement a programme that would reduce the carbon intensity of transportation fuels, beginning in 2029. The proposal sets phased targets of at least 10% below 2019 levels by 2035 and 50% below 2019 levels by 2045, using lifecycle emissions accounting based on Argonne National Laboratory’s GREET model. It would also create a credit-and-deficit system in which fuels below the carbon-intensity threshold generate tradable credits while those above it generate deficits. Certain uses such as aviation, rail, military vehicles, and interstate vessels would be exempt.

Indigenous co-owned BESS - Blackstone portfolio company Aypa Power and the Six Nations of the Grand River Development Corporation have closed about C$700 mln ($512 mln) in aggregate financing for the Elora and Hedley Battery Energy Storage System (BESS) projects in Ontario. They said the financing was provided by an eight-bank syndicate of leading international and domestic lenders, led by Canadian Imperial Bank of Commerce (CIBC) and Sumitomo Mitsui Banking Corporation. With a combined installed capacity of 422 MW and 1,688 MW, the projects represent one of the largest battery storage commitments under the Independent Electricity System Operator's Long-Term 1 (LT1) competitive procurement.

Cheapening solar - A California appeals court has sided with the California Public Utilities Commission, saying it was justified in reducing the rate utilities pay customers for excess solar energy, according to Cal Matters. The outlet reported environmental advocates who’d brought the case said the decision will exacerbate the state’s energy affordability crisis.

Case closed - A US District Court in the Northern District of California entered final judgment on Tuesday for several tobacco companies, including R.J. Reynolds Vapor Company and British American Tobacco, after plaintiffs in the case elected not to amend their complaint following a February order partially granting the defendants’ motion to dismiss, formally closing the case.

The Democratic majority of the New York Senate has called on Governor Kathy Hochul (D) in its recent budget proposal to finalise the state’s planned cap-and-invest programme, while the governor said on Wednesday she’ll look to adjust the state’s landmark climate law, media reported.

Sunny New York - Renewable energy builder PowerBank Corporation announced that its 7 MW Jordan Road 1 community solar project in New York had been approved for nearly $2 mln in incentives through the New York State Energy Research and Development Authority (NYSERDA) NY-Sun Program. The project is also expected to qualify for up to an additional $1.6 mln in NY-Sun incentives through the Inclusive Community Solar Adder. The NY-Sun Program is a public-private partnership that aims to drive growth in the solar industry and make solar technology more affordable for all New Yorkers. The project advances New York's path to 10 GW of solar by 2030.

California has issued over 1 million offset credits year-to-date (YtD), largely to forestry, mine methane capture (MMC), and livestock projects, according to data published on Wednesday.

Chile on Wednesday gazetted a package of technical resolutions detailing governance, methodological standards, and integrity requirements for mitigation activities under Article 6 of the Paris Agreement.

Canada's incoming tightening of its industrial carbon market is unlikely to have a major impact on oil producers, a new analysis by a Canadian climate think tank found.

Pump up the ethanol – Rising gasoline prices in the US, linked to the war in the Middle East, are giving new momentum to a bipartisan push in Congress to allow permanent year-round sales of E15, which lawmakers described at a Senate Agriculture Committee hearing on Tuesday as a lower-cost fuel option, E&E News reported. Senators from both parties criticised Congress for failing to remove summer restrictions on the higher-ethanol blend despite backing from President Donald Trump and some oil companies, with Sen. Chuck Grassley (R-IA) blaming refiners for the collapse of an earlier effort to include the measure in House spending legislation. Supporters, including Sen. Amy Klobuchar (D-MN), said higher fuel prices strengthen the case for quick action, though the path forward remains uncertain as lawmakers search for a Senate vehicle and face complications in the House.

Policy pushback - Sen. Sheldon Whitehouse (D-RI), the top Democrat on the Senate Environment and Public Works Committee, has introduced a new set of Congressional Review Act (CRA) resolutions targeting parts of the Trump administration’s environmental agenda, including a measure aimed at reversing delays to methane emissions standards, E&E News reported. The resolutions are part of a broader Democratic effort to force votes on administration actions they oppose. While the CRA measures are not expected to become law, they put lawmakers on the record on the administration’s approach to air, water, and climate regulation.

Waste to wings – US-based clean fuels company Southern Energy Renewables announced on Wednesday it will invest $1.4 bln to build a green methanol and sustainable aviation fuel production facility in St. Charles Parish, Louisiana, converting regional wood-waste biomass into lower lifecycle-carbon fuels. The company said the project is expected to create 120 direct jobs with an average salary of $97,267 and support a further 394 indirect roles, for a total of 514 jobs in the region. Construction is slated to begin in late 2027 with commercial operations targeted for late 2029. Previously the company had estimated readiness by 2028.

A new funding call launched on Wednesday aims to accelerate research and innovation in durable carbon removal (CDR) technologies, as parts of the sector move from early-stage science toward commercial deployment.

There is limited evidence that converting pasturelands to silvopasture in the eastern US can deliver as a large net driver of GHG mitigation, a review of existing literature has found. 

Thin air – US direct air capture (DAC) developer Sustaera announced this week it has achieved more than 90% efficiency in capturing CO2 from the air, claiming the breakthrough could significantly reduce the cost of carbon removal (CDR). The North Carolina-based company said its electro-thermal technology combines nano-structured sorbents with integrated electric heating to deliver operational efficiencies three to four times higher than conventional thermal DAC systems. It added that the improvements could help bring CDR costs below $100 per tonne, a level widely seen as critical for scaling the sector.

A North Dakota district court on Monday struck down state orders approving several CO2 storage permits, finding the process violated constitutional protections for landowners.

Plans to register Bolivia’s first sovereign jurisdictional carbon credit project have been delayed from initial official issuance estimates, aligning with the government’s roadmap to build a national carbon markets architecture, the initiative’s main technical partner told Carbon Pulse.

The Q1 Washington carbon auction sold out right at the 2026 Allowance Price Containment Reserve (APCR) trigger level, nearly $9 below secondary market prices ahead of the sale.

New analysis has identified nearly $2.3 billion in future demand for offsets in the voluntary market, according to a report published on Wednesday.

European carbon gave up an early rally to its highest in more than two weeks on Wednesday amid a fall in trading activity and after the weekly Commitment of Traders (COT) reports showed a seventh successive drop in speculative net length, while compliance buyers boosted their holdings as coal remains favoured over gas for power generation.

The Anglo-Dutch major has filed a legal challenge against the CO2 storage obligation in the EU’s Net-Zero Industry Act (NZIA), saying the lawsuit is being coordinated with other oil and gas companies as part of a multi-pronged strategy to build a business case for carbon capture and storage (CCS).

When countries put in place macroeconomically damaging climate and nature policies, carbon revenues may not be high enough to calm credit rating agencies, so sovereign nations must either plan alternate sources of revenue or strike deals with investors, Carbon Pulse has heard.

A tale of two problems - Dependence on fossil fuels, not on the US, is Europe’s worry, argued Bruegel in a new report. Since 2022, the bloc has sharply increased energy imports from the US, which now accounts for about one-fifth on average of EU imports of natural gas – particularly LNG. These imports amounted to €70 bln in 2024. Bruegel found the best way for improving EU resilience of supply would be to reduce fossil fuel demand and boosting storage.

Renewable electricity generation cut household power bills in Turkiye by an average of 9.1% in 2025, equivalent to roughly one month worth of annual electricity costs, according to analysis from a global energy think tank.

No special treatment - Calls by France for its overseas territories to be exempted from the EU's Carbon Border Adjustment Mechanism (CBAM) fees on certain products have been rebuffed by Portugal. The latter said that exempting certain regions would weaken the integrity of the EU's CBAM and has instead suggested that financial subsidies would be a better and less risky way to support the economic needs of those regions. It comes amid broader efforts by France, Italy, and others to secure various exemptions for industries, particularly fertilisers, following CBAM's launch on Jan. 1. Last week the Commission ruled out suspending CBAM for fertilisers. (Contexte)

The cut in global LNG supply due to war in the Middle East has already led to a surge in high-emitting gas flaring in Qatar, while North Africa is losing billions of dollars each year in lost export revenues from the fuel source that analysts say could otherwise be channeled to Europe.

The spread between UK carbon allowances (UKAs) and EU carbon allowances (EUAs) has widened significantly since the beginning of the war in the Middle East, due to differences in power generation methods, and a sense that talks around linking the two markets may well be put on ice, analysts and market sources have said.

Energy and removals - Shropshire Council in England's West Midlands has announced a new partnership to produce high-quality biochar and carbon removal credits. The agreement between Raft Energy and Biodynamic Carbon (BDC) - a JV between Shropshire Council and Carbon Hill, will see biochar activated and added to anerobic digestion systems to help increase energy output and improve the quality of the resulting fertiliser. The first energy, biochar, and carbon capture to be partially owned by a council is already operating near Welshpool and another fully council owned unit will commission this spring in Ludlow. Both units will generate carbon removals in line with international standards such as the European Biochar Certificate (EBC).

Uncertainty over risk, credit quality, and financing is continuing to hold back the reforestation carbon market despite signs that buyers and developers may be more aligned on price than expected, a webinar heard Tuesday.

The European Union’s upcoming regulatory framework for CO2 transport and storage infrastructure – including network access rules – must remain flexible in its early stages or risk killing off the bloc’s emerging carbon capture and storage (CCS) industry, a senior Norwegian official has warned.

The International Energy Agency (IEA) is set to release a record volume of emergency oil stocks in response to disruptions in shipments through the Strait of Hormuz, following unanimous agreement among its member countries. 

US ecosystem market stakeholders are awaiting word on a proposed EPA rule which would dramatically reduce the number of wetlands requiring offsets.

Application in - Carbon Standards International (CSI) has confirmed its application to the International Civil Aviation Organization (ICAO), seeking eligibility for the upcoming compliance periods of UN aviation offsetting scheme CORSIA. CSI's Global C-Sink Registry is technically optimised for corresponding adjustments (CAs) under Article 6 of the Paris Agreement - ensuring that no credits are double counted, it said on LinkedIn.

Gas price cap - The EU is considering a gas price cap in a bid to reduce the fuel's impact on power prices and protect consumers from extreme volatility driven by the war in the Middle East. Commission President Ursula von der Leyen has spoken in Strasbourg of the importance of reducing the cost impact when gas sets the electricity price. Other measures include better use of power purchase agreements and contracts for difference, state aid measures, and subsidising gas prices. EU leaders will meet next week and are set to urge for clearer action to lower prices in the near term. Von der Leyen also expressed support for the EU ETS, saying: "Without ETS we would now consume 100 billion cubic meters more gas, again making us more vulnerable, more dependent and weaker ... So we need ETS. But we need to modernise it.” (Bloomberg)

Belgium received the green light from Brussels to fund a €260 million carbon capture storage (CCS) project in Antwerp on Wednesday. 

A Colombia-based international carbon standard on Wednesday published a new REDD+ methodology meant to align project baselines with UNFCCC reporting, including voluntary market (VCM) and Article 6.2 aims.

Malaysia’s planned carbon tax could cut profits for companies even at a modest starting price, according to an investment bank.

Welsh green hydrogen - Trafigura subsidiary MorGen has taken an FID for a 20 MW low-carbon hydrogen production plant in Milford Haven, Wales, at the site of a former oil refinery, it announced on Wednesday. The FID became possible after the project qualified for UK government support in its first allocation round, Trafigura said. Construction is expected to begin this year, and commissioning by early 2028. The plant is expected to produce around 2,000 tonnes per year of low-carbon hydrogen, in line with the UK's Low Carbon Hydrogen Standard. It's also expected to result in annual savings of 15,000 tonnes of CO2e.

FuelEU marketplace - Italian climate asset manager and consultancy Kickster Group has kicked off the new FuelEU Maritime Marketplace, a digital compliance hub aimed at helping companies navigate the EU regulation. The subscription-based platform offers centralised listings of opportunities for pooling clean fuel supplies, aggregated across fleets and operators. Other features include an automated compliance calculator, a verification and eligibility workflow, negotiation and agreement tools, and analytics and market data.

BP is facing a court battle from a shareholder group over a decision to omit a climate-related resolution from is annual general meeting in April.

The UK’s progressive tightening of sustainability reporting requirements could drive corporate demand for carbon credits, helping to lower the impact on taxpayers from support for carbon removal projects, according to experts.

The biggest sway - The outcome of climate policy battles in Europe is most likely determined by a substantial middle group of people who respond differently depending on the specific policy rather than being staunchly pro or against, according to a study spanning 13 EU countries conducted by ETH Zurich. Therefore, vocal public opposition shouldn't be confused with a dominant negative opinion as most European are not strong climate policy opponents, but rather react depending on how they perceive the costs and benefits, and who bears them. Climate policy benefits must be made visible and seen as fairly distributed, and there should be credible and concrete support for vulnerable groups. Instruments such as emissions trading or CO2 taxes can be very effective, but it's equally important to consider social and political feasibility in order to achieve the net zero target in Europe, the academics concluded.

South Korea's latest CO2 allowance auction again went oversubscribed, as emitters seek to secure allowances at relatively low prices amid expectations of tightening permit supply.

The voluntary carbon market is not the solution to global climate change, but it is a valuable instrument that can help mobilise finance, support sustainable development, and contribute to mitigation – when properly understood and managed.

Greener buildings - The UK Net Zero Carbon Buildings Standard has officially launched, following testing on more than 200 construction projects and input from over 350 experts. The standard has been designed with pathways for a range of building types and covers operational emissions - generated through building use, as well as embedded emissions - produced from materials, energy, and transport in the upstream supply chain. Verification services for the standard will be available from Q2 2026. Reforms to the design of the UK's Energy Performance Certificates (EPC) are also underway. (edie.net)

Boosted - Shares of Indian Energy Exchange (IEX) jumped about 4% on Wednesday, CNBC TV18 reported, after India’s Central Electricity Regulatory Commission (CERC) notified a regulatory framework for trading Carbon Credit Certificates (CCCs) last week. The power exchanges will serve as the primary marketplace for CCC trading, creating separate compliance and offset segments for obligated and non-obligated entities

New CFO - Green Impact Exchange has appointed Kevin C. Buckley as chief financial officer. The one of only 10 registered stock exchange operators in the US stands at the nexus of the green economy and has brought Buckley on following his recent position as vice president, capital/treasury and international treasurer at Prudential Financial. Buckley will serve as a member of GIX’s executive leadership team and lead the exchange's global financial strategy, capital allocation, investor relations, and balance sheet management, overseeing the exchange’s fiscal operations as it prepares for its 2H 2026 launch.

Italian Prime Minister Giorgia Meloni confirmed she will raise the temporary suspension of EU Emissions Trading System (ETS) costs for fossil fuel-fired power at a summit of leaders on Mar. 19.

Climate cooperation - South Korea and Ghana have agreed to strengthen cooperation on climate change following summit talks between South Korean President Lee Jae Myung and Ghanaian President John Dramani Mahama in Seoul on Wednesday. During the meeting, the two countries signed an MoU on climate change cooperation aimed at establishing a legal framework for collaboration under their respective national climate action plans in line with the Paris Agreement. The agreement forms part of broader bilateral efforts to expand ties across sectors such as trade, maritime security, and agriculture during Mahama’s five-day visit to South Korea. (Yonhap News Agency)

Big target - Fuel supply arm of Indonesia’s state power utility, PT PLN Energi Primer Indonesia (EPI), is targeting biomass exports of around 1 mln tonnes by 2026, as domestic demand from coal plant co-firing programmes remains limited, Petromindo reported. Biomass director Hokkop Situngkir said the firm has already secured contracts for about 200,000 tonnes, leaving roughly 800,000 tonnes still to be pursued. Indonesia exported around 10-12 Mt of biomass in 2025, far exceeding PLN EPI’s co-firing demand of about 2.4 Mt. The company is focusing on palm kernel shells and wood pellets, with buyers in Poland and potential partners in Japan, while domestic biomass use for co-firing is expected to rise to 3.65 Mt in 2026.

Voluntary cancellations of Kyoto-era carbon credits rose in Australia in February, with intermediaries relying predominantly on certified emission reductions (CER).

Big spender - Rio Tinto has secured $1.17 bln in financing from four international lenders to support its Rincon lithium project in Argentina's Salta Province, it announced. The funding comprises loans from the International Finance Corporation, Export Finance Australia, and the Japan Bank for International Cooperation. The cash will be used to develop the $2.5 bln lithium project, which is targeting around 60 bln tonnes of annual battery grade lithium carbonate capacity. First production is slated in 2028, with a three-year ramp up to full capacity. Jerome Pecresse, Rio Tinto's chief executive of aluminium and lithium said the project was underpinned by the attractive long-term outlook driven by the energy transition.

An Australian chemicals company fresh off the back of fundraising is exploring voluntary carbon market opportunities to value stack its zero emissions chemical reactors, its CEO told Carbon Pulse. 

Energy affordability – The Western Australian state government has launched a A$150-153 mln ($107-109 mln) Made in WA Energy Affordability Investment Program to help manufacturers reduce energy costs and boost competitiveness, it announced. The programme will offer low-interest loans of up to A$15 mln for businesses to invest in energy-efficient equipment, renewable energy systems such as solar and industrial batteries, and advanced manufacturing technologies. The initiative aims to support decarbonisation, strengthen local manufacturing – especially in clean energy and critical minerals – and create jobs while making WA-made products more competitive.

RFP opening - US-based sustainability software provider Watershed has opened its 2026 request for proposals (RFP), it announced Monday. The RFP is intended to supply Watershed's customer base of over 800 companies with credits from durable carbon removal (CDR), nature-based CDR, and super pollutant avoidance projects. Supplier applications close on Apr. 10. Watershed's first RFP targetted 1 mln CDR credits and drew proposals from over 300 projects, the software provider said, with selected suppliers gaining access to a pre-committed buyer group that executed more than 100 purchases, including multiple contracts valued at over $1 mln. Watershed will share lessons from its first RFP in a webinar on trends in carbon markets on Mar. 19.

DAC attack - Berkeley-based direct air capture (DAC) developer Airmyne has announced an investment from Japan's largest energy company, ENEOS. The unspecified investment - made through investment arm ENEOS Innovation Partners Godo Kaisha - establishes a framework for long-term collaboration between the pair, aimed at advancing technology development and evaluating future pathways toward commercialisation. AirMyne is developing a liquid solvent-based DAC technology it says is designed for industrial scale, with low energy consumption, supply-chain security, and operational simplicity.

Call for projects – The EU-funded Forestry-Climate Change-Biodiversity Programme in Papua New Guinea has opened up a call for project proposals to be eligible to receive €6 mln, it announced. The recipient is expected to allocate sub-grants to community-based organisations and NGOs that will create economic opportunities for PNG traditional landowners through "deforestation-free" sustainable livelihoods. This includes commodities pipelined for conservation accreditation or branding, by forming partnerships with ESG focused companies, and capacity building in conservation, forest management, benefit sharing, and community governance. The application deadline is Mar. 19.

More gas, less grid – Saputo Dairy Australia has gone live with its purpose-built biogas to energy solution in Allansford, Victoria, it announced. The custom solution converts biogas waste into renewable power and heat, reducing the site's reliance on the grid, generating up to 25% of the facility's total electricity usage and removing 14,000 tCO2 per year. The project was supported with a A$1-mln ($713,000) grant from the Victorian government's Waste to Energy - Bioenergy Fund via Sustainability Victoria.

Future Fijian farms – Fiji is introducing climate-resilient crops and innovative farm tech as it seeks to bolster its agriculture sector to a changed climate, FBC News reported on Tuesday. Minister for Agriculture, Waterways and Sugar Industry Tomasi Tunabuna said that researchers are currently trialling saline-tolerant rice varieties, in order to identify which crops can withstand saltwater intrusion, the outlet wrote. Work is also underway on integrated rice and tilapia farming systems, the minister said, while new cassava, taro, and yam varieties have been introduced.

Achieving net zero emissions by 2050 would cost the UK economy about as much as a single fossil fuel price spike similar to the one seen in 2022, according to new analysis released on Wednesday by a government advisory body.

Doing whale? – The International Whaling Commission (IWC) has opened a call for research proposals into how offshore renewable energy projects are impacting migratory whales, supported by the Australian government. Studies are to explore underwater noise, effects from construction, the influence of renewable energy developments on whale behaviour and movement, and how to mitigate these impacts. The deadline for submissions is Mar. 27.