RGGI Allowance (RGA) futures jumped over 5.2% week-on-week (WoW) to reach year-to-date (YtD) highs following Democratic victories in statewide elections in Virginia and New Jersey.

Ready to ship – Calcarea, a climate tech startup founded by Caltech University, announced an ocean-based CDR collaboration on Monday with Dutch maritime engineering firm Aurelia Design BV. Calcarea’s limestone weathering technology uses seawater to safely store CO2, touting its technology as a nature-based, permanent solution. The companies will create a next-generation bulk carrier including Calcarea’s reactor and supporting systems.

Nothing corny about it – Multinational food processing company Archer-Daniels-Midland (ADM) announced on Monday the linking of its Nebraska bioethanol carbon capture facility with energy infrastructure company Tallgrass’ Eastern Wyoming Sequestration Hub. Tallgrass constructed a line connecting ADM’s corn processing facility to the Trailblazer pipeline system using voluntary easements from landowners. The Trailblazer pipeline can transport more than 10 mln tonnes of CO2 per year, running through Nebraska, Colorado, and Wyoming. The announcement marked the beginning of operations at the Columbus, Nebraska corn processing plant for CCS activities.

No RGGI renege – Environmentalists are urging Pennsylvania Gov. Josh Shapiro (D) to remain firm on the state's participation in RGGI, according to a report by the Philly Voice. The outlet reported advocates said compromising RGGI participation to get the state's four-month stalled budget passed would be shortsighted and harmful. Republicans, who control the state Senate, have rejected Democratic budget proposals and oppose the programme.

In a report, published at COP30, marking 10 years of the Green Climate Fund, the organisation said that it has reduced 96 million tonnes of CO2 in its first decade.

A Canada-based carbon financier booked an $11.8 million unrealised gain in the third quarter of 2025, reflecting higher asset values tied to its flagship cookstove project.

Trumped-up energy - New York state environmental regulators have approved the Trump-backed Northeast Supply Enhancement (NESE) gas pipeline, reversing earlier rejections and marking the state’s largest fossil fuel expansion since its 2019 climate law. The Department of Environmental Conservation (DEC) issued key water permits after talks between Gov. Kathy Hochul (D) and President Donald Trump revived the $2 bln project this spring. While Hochul defended the decision as balancing energy reliability with climate goals, environmental groups vowed legal action, condemning progress on the NESE pipeline as a capitulation to fossil fuel interests. The DEC acknowledged the pipeline conflicts with state emissions targets but said energy regulators deemed it necessary to ensure gas supply for New York City and Long Island. Business groups praised the move, citing reliability and affordability, while the pipeline’s developer said construction would soon begin following similar approvals in New Jersey.

Changing pace - ExxonMobil CEO Darren Woods said in an interview with the Financial Times Sunday that the oil giant will “pace” its spending on low-carbon projects due to low customer demand and failing government policies. Assumptions the company had made when it set a $30 bln budget last year for low emissions opportunities through 2030 had not been met. Woods said hydrogen and biofuels lacked demand, adding that decarbonisation policies aren’t working. The company will now pace that spending based on how quickly the market and policies evolve.

Global greenhouse gas emissions are finally showing signs of peaking, according to the latest update to the UNFCCC’s 2025 Nationally Determined Contributions (NDC) synthesis report, but the pace of decline remains far too slow to meet the Paris Agreement’s 1.5C temperature goal.

US House Republicans are cheering the International Energy Agency’s (IEA) decision to resume publishing a policy scenario that projects slower adoption of clean technologies, arguing that the restart helps “restore the IEA’s credibility and impartiality", according to a letter.

The rapid expansion of AI servers across the US could generate up to 44 million tonnes of CO2 and 1.1 billion cubic metres of water use annually by 2030, jeopardising industry pledges to reach net zero, according to a new study published Monday.

Bad signal – A civil court in Brazil's capital Brasilia ordered radio network Rede de Radio Difusao Novidade Tecnica, which operates under the brand 18 Horas, to pay R$50,000 ($8,700) in moral damages and publish a public retraction for defaming carbon project developer Agfor. The ruling said a 2023 report falsely alleged that Agfor used public Amazon land for carbon credit sales, ignoring official documents that confirmed the company’s land titles. Agfor had sought BRL 1 mln in damages, but the court set a lower amount while finding the broadcaster negligent in verifying information, according to the Oct. 15 decision.

Public and private spending via Article 6 could count toward the New Collective Quantified Goal (NCQG) on climate finance negotiated at last year’s COP29, so long as the benefits that ‘donor’ institutions receive are discounted from the total spend, according to researchers.

After two years of promoting its proposal to reward countries for conserving tropical forests, Brazil officially launched the Tropical Forest Forever Facility (TFFF) last week with more than $5 billion already committed, although experts expressed mixed reactions to the announcement.

The Supervisory Body for the Article 6.4 mechanism submitted its fourth annual report to parties during COP30 on Monday, detailing progress made over the past twelve months toward operationalising the new UN carbon market under the Paris Agreement, though underlined it now faces a significant funding shortage.

The European Parliament’s environment committee on Monday backed a landmark proposal to slash the EU’s net greenhouse gas emissions 90% below 1990 levels by 2040, clearing the way for lawmakers to formally adopt their stance during a plenary vote on Thursday.

Only six countries, as well as the EU, have reported any measurable reductions in methane emissions since a historic global pledge made at COP28 to tackle the high-polluting gas.

Eleven governments and more than 300 companies and civil society groups have endorsed the Principles for Responsible Timber Construction, a science-based framework guiding the sustainable use of timber.

EU Allowances ended the day up 0.6%, as buyers and sellers wrestled for control, with seemingly little conviction to see prices move back towards the highs seen last week, as analysts warned of downside risks due to investment funds' significant long exposure, milder than average weather forecasts, and healthy amounts of LNG being imported into Europe.

An updated EU methodology to measure CO2 sequestration from three permanent carbon removal (CDR) techniques gained broad support from an expert group on Monday, despite ongoing concerns over biomass sustainability and opposition from environmental groups.

Less than 50% of countries have submitted updated climate plans as COP begins, with the gap between parties’ updated targets and 1.5C pathways growing, according to experts.

Brazil and international partners have launched the Bioeconomy Challenge at COP30, marking the first time bioeconomy has been formally integrated into the COP Action Agenda as a pathway to achieve climate and development goals, the host country said.

Retirement levels for voluntary carbon credits were slim last week and overall levels remain lower than last year, sending mixed signals about the market outlook as the COP30 international climate summit gets underway in Brazil.

South America is failing to attract enough investment for an energy transition to renewables that could help to drive sustained progress, according to a report published on Monday.

A US-based carbon management company has acquired a climate technology provider, combining scientific advisory expertise with digital tools for forest carbon monitoring, the companies announced on Monday.

Finance flourish - Guyana expects to announce new forest carbon credit deals before the end of 2025 as it continues to promote nature-based climate solutions at COP30 in Belem, Brazil, President Irfaan Ali said on the sidelines of the conference. Speaking during the World Leaders Summit on Saturday, Ali urged negotiators not to sideline nature-based approaches in global climate policy. Ali said Guyana's carbon credit revenues for 2025 are expected to reach $200 mln, with at least 15% directed to Amerindian and Hinterland communities. He also endorsed Brazil’s Tropical Forests Forever Facility, a $125 bln fund paying nations to preserve forests, as complementary to Guyana’s co-chair role in the Forests and Climate Leaders Partnership.

Africa's REDD+ results - African countries are making progress in their REDD+ implementation, but there's still a supply-demand gap in the market that needs to be bridged with improved coordination, transparency, and understanding between governments and investors, according to the findings of a roundtable in Johannesburg, hosted by the UN-REDD Programme and ICVCM. The roundtable brought together governments, corporate buyers, investors, and technical partners to talk about how to accelerate jurisdictional REDD+ investments. Participants said that while countries are nearly ready to supply credits, the key to demonstrating credibility will be to maintain momentum and register verified results. Investors called for clarity on land tenure, benefit-sharing, and governance, and stressed that credits need to be interoperable and fungible across voluntary and compliance markets.

First CRA trade - Brazil’s BVRio completed a symbolic first purchase of Forest Reserve Credits (CRA), marking the country’s first-ever transaction under the new market launched by the Brazilian Forest Service. The move signals the operational start of CRA trading, a mechanism created by the 2012 Forest Code to reward conservation and enable landowners to offset Legal Reserve deficits.

Forestry carbon initiatives should base risk planning on severe climate conditions rather than historical norms, as moderate scenarios are failing to capture the true scale of wildfire threats, according to new analysis by a London-based insurance firm.

As the UN climate conference opens in Belem, Brazil is stepping into the spotlight with an ambitious agenda built around forests, carbon markets, and energy transition — hoping to turn COP30 into the “COP of forests and implementation”.

The Congo Basin absorbs a net 600 million tonnes of CO2 annually, making it the most carbon-beneficial rainforest globally, although its potential has diminished in recent years due to deforestation, according to a new report.

Brazil and the UK have launched at COP30 in Belem an initiative to tackle global super pollutant emissions, with developing countries receiving an initial $25 million in support.

Stake acquired - Queensland government investment vehicle QIC has agreed to acquire 19.9% of AGL Energy's minority stake in Tilt Renewables, it announced. It means it now has a 99.9% ownership in the company which is Australia's largest operating wind platform, it said. Tilt now owns and operates 1.9 GW across 12 assets and a has a development pipeline exceeding 1.6GW to progress to final investment decisions in the next 12 months.

Brazil has managed to head off potential delays to negotiations at COP30 on Monday, even as concerns with climate change-related unilateral trade measures were put forward by parties in an early agenda text.

The Clean Development Mechanism (CDM) Executive Board approved key methodological updates and ruled on several accreditation and issuance matters during its 126th meeting in Belem, Brazil last week.

Morocco expects to bring in some 6 billion dirhams ($650 million) from projects under its bilateral Article 6 agreement with Switzerland, a top official said in Parliament in the lead-up to COP30.

European carbon prices were little changed after the Council of EU member states agreed a common stance on the bloc's 2040 climate target, but analysts warned the market may be overlooking policy risks – notably the possible reopening of the EU ETS Directive – warning this could weigh on the trading system in the years ahead.

The international agreements needed to accelerate climate action are already in place – from speeding up clean energy, to mobilising more money, to boosting adaptation – so COP30 is where countries need to decide how they will fulfil their promises, the UN's climate chief said on Monday.

TechX is calling - Applications for the Net Zero Technology Centre's (NZTC) 2026 TechX cohort are now open, the organisation announced on Nov. 7. The programme offers startups the opportunity to secure up to £50,000 in funding and a spot on a 14-week accelerator designed to fast-track their market path. NZTC is seeking teams in carbon capture, renewables, hydrogen, and industrial decarbonisation, with a focus on pre-commercial startups at technology readiness levels 3 to 6. Participants will gain direct access to investors, customers, and field trial opportunities, along with guidance to sharpen their commercial strategy. Applications close on Jan. 5.

A land restoration project in Zambia is using the carbon credit revenue it generates as means to finance its main goals of strengthening the local livestock farming sector, boosting income for cattle farmers, and driving wider sustainable development in the local rangelands, the project’s developers told Carbon Pulse.

This year is set to be the second or third warmest year on record, extending an 11-year streak of exceptional global warming driven by record GHG concentrations in the atmosphere, according to the State of the Climate Update for COP30 published Nov. 6 by the World Meteorological Organization (WMO).

It is Day 1 at COP30 in Belem. The mood is warm and the humidity is high following last week's leadership summit in Sao Paulo, as Monday marks the first official day of negotiations. In our daily running blog, Carbon Pulse will report relevant or useful updates throughout the day. Timestamps are in local time (GMT-3).

Corporate action maps - The Global Reporting Initiative (GRI) has launched a new tool to help organisations align their climate reporting with recommendations from the UN High-Level Expert Group on the Net Zero Emissions Commitments of Non-State Entities, using the GRI Standards, it announced on Monday. The Integrity Matters Checklist helps businesses, investors, and others report on their efforts to cut GHGs, implement transition plans, and reduce investment in fossil fuels.

Belarus's contribution - Belarus's new NDC sets a goal of cutting greenhouse gas emissions by 47% by 2035, compared to 1990 levels - conditional on an end to international sanctions, among other things. The target includes reductions through land use and forestry, and is also conditional on access to international finance, technology transfer, capacity building, and possibly Article 6 projects. Unconditionally, the country aims to cut GHGs by 41% in that period, including LULUCF. Belarus is considering the use of Article 6, but has not yet implemented or authorised cooperative approaches. The bulk of the emission reductions are expected to come from the energy sector, which is the largest source of GHGs in Belarus, as well as industrial processes, transport, agriculture, waste management, and LULUCF.

A leading Indian cement producer expects to generate up to INR 2.25 billion ($27 million) in annual revenue from the sale of carbon credits as part of its decarbonisation strategy under the country’s upcoming Carbon Credit Trading Scheme (CCTS), the company said.

As COP opens in Brazil, Gold Standard is the first major independent carbon standard to fully align its methodologies with the Paris Agreement — a move that cements integrity, safeguards market confidence, and signals that credible climate action under the Paris framework is no longer optional but essential.

A natural capital strategy led by a France-based asset manager has raised a total of $560 million following investments from development finance institutions, it announced on Monday.

A certification company has been announced as the preferred bidder to become the verification administrator for the UK Net Zero Carbon Buildings Standard, marking a step towards the launch of the framework later this winter.

Iraq launched its national carbon market, aiming to integrate the country with regional and international carbon trading mechanisms, an official announced during COP30 in Belem, Brazil.

Pressure on EU sustainability reporting rules – More than 100 law professors and lawyers from across Europe have warned that the European Commission’s Omnibus I package, which seeks to amend EU sustainability reporting rules, breaches fundamental EU legal principles. In a letter, the signatories caution that if adopted as it is, the proposal faces a high risk of legal challenges in national or EU courts and could set a dangerous precedent for the EU’s legislative processes. Parliament is scheduled to vote on Omnibus I on Thursday Nov. 13, amending the Corporate Sustainability Reporting Directive (CSRD) and the Corporate Sustainability Due Diligence Directive (CSDDD). The vote follows the rejection of the committee position in plenary on Oct. 22. MEPs now have an opportunity to amend the Commission’s original proposal, ahead of negotiations with EU member states.

Some $1.08 trillion could have been raised for climate action since the Paris Agreement was signed in 2015, if the world's 100 largest oil and gas companies had been charged a 20% tax on their profits, a think tank has calculated.

Quality alliance – Japan’s Carbon EX has entered into a partnership with Sylvera, the London-based carbon credit rating company, to enhance transparency and quality in Japan’s carbon credit market. Under the collaboration, Carbon EX will integrate Sylvera’s carbon intelligence platform into its trading exchange to enable transactions of high-quality and independently rated carbon credits and strengthen market integrity and confidence among participants, according to a statement.

Jet set go – Nigeria’s federal government has established a technical and steering committee responsible for creating and managing the Nigeria Green Climate Fund and a national sovereign carbon credit scheme. The committee will oversee the creation of frameworks for carbon credit generation, trading, and benefit sharing, ensuring alignment with global climate market standards. Nigeria last week approved a new national carbon market framework and the operationalisation of its climate change fund, in a move President Bola Tinubu said would help unlock up to $3 bln annually in carbon finance, as the country prepares to outline its climate strategy at UN climate summit in Brazil starting Monday.

Going offshore – Petronas CCS Ventures, a fully-owned subsidiary of Petronas, has been granted Malaysia’s first-ever offshore assessment permit for carbon capture and storage (CCS) in the Duyong area under the newly-enacted Carbon Capture, Utilisation, and Storage Act 2025. The permit enables exclusive offshore geological assessments in the Duyong field and advances the company’s joint technical studies with TotalEnergies and Japan’s Mitsui, as the partners target a commercially viable CO2 storage solution.

The Australian government has released a guide to investing in its net zero transition based on its Nationally Determined Contribution (NDC), aimed at international investors, it said on Monday.

Inter IKEA Group has launched a new forest restoration and management initiative in Brazil in partnership with BTG Pactual Timberland Investment Group (TIG), marking the first deployment under its previously announced €100 million commitment to remove and store carbon.

The Western Australia government is updating its procurement guidelines to explicitly favour green steel produced within the state for its projects, it announced over the weekend.

Human ingenuity and technological developments will help the world cut emissions to get back on track to limit the global average temperature increase to 1.5C, former UN climate chief Christiana Figueres told Carbon Pulse in an interview ahead of COP30.

Rwanda has upped its requested climate finance in its third Nationally Determined Contribution (NDC), saying it requires $12 billion to implement the plan out to 2035 – with a heavier portion now for adaptation.

Turkiye’s new Nationally Determined Contribution (NDC) maintains the country’s emissions reduction factor from its first plan, aiming for a 42% cut from business-as-usual by 2035.