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- Tue 00:29Brazilian mining company estimates carbon pricing mechanisms could incur costs of up to $3.4 billionA Rio de Janeiro-headquartered global mining giant estimates that carbon pricing mechanisms could incur costs in the long term ranging from $1.2 billion to $3.4 bln, according to a report published Monday.
- Tue 00:20The Oregon Department of Environmental Quality (DEQ) on Monday opened three separate grant opportunities for clean trucks and infrastructure, as part of a wider $34 million offering.
- Tue 00:01The accumulation of vast amounts of land by a small group of corporate global landowners could fuel inequality and nature loss, with the biodiversity credit market seen as posing additional risks in the near future, a report released on Tuesday has said.
- The White House released supplementary details of plans to slash spending in 2026 as the US Senate debates the fiscal year 2025 budget reconciliation package.
- Mon 23:52Benchmark RGGI Allowance (RGA) prices settled below $20 for the first time in May as the market braces for this week’s Q2 auction amid federal headwinds and ongoing silence on programme review updates.
- Mon 23:30Once, twice delayed - California regulator ARB will develop regulations that mandate companies doing business in California with annual gross revenues over $1 bln to disclose Scopes 1-3 emissions by year-end, according to a public workshop hosted last week. The regulations are mandated by SB 253 but were first delayed by sponsor Senator Scott Wiener (D) in Aug. 2024. Scope 1 and 2 disclosures will still be required in 2026 and Scope 3 disclosures in 2027, with further timeline details to be addressed as part of the rulemaking process, law firm Ropes and Gray wrote in a post. The laws are subject to an ongoing lawsuit filed by a coalition of US business groups.
- Mon 23:27Back to drill baby, drill - The Trump administration announced Monday it will be reopening 11 mln acres of undisturbed public land in Alaska to oil and gas drilling, making good on a promise to reopen the region to further the president’s energy agenda. The Bureau of Land Management is expected to rescind the ban on drilling in the National Petroleum Reserve-Alaska originally imposed by President Joe Biden. After the agency issues the proposed change, it will undergo a 60-day comment period before it goes into effect. The announcement comes as the Trump administration’s National Energy Dominance Council visits Alaska this week for a summit with Japan and South Korean leaders to discuss Alaskan LNG. (E&E News)
- Mon 23:26
Nuclear next steps - The US Nuclear Regulatory Commission (NRC) and the DOE’s Loan Programs Office recently issued a final Environmental Assessment (EA) and Finding of No Significant Impact (FONSI) for actions related to reauthorising operations at the Palisades Nuclear Plant in Covert Township, Michigan. The NRC reviewed an exemption request, a licence transfer, and licence amendment requests to allow Palisades to resume operations under its existing licence, while the DOE considered providing a loan guarantee to support refuelling and power generation activities. The final EA concluded that the proposed actions would not have significant environmental impacts. The Palisades Nuclear Plant, which ceased operations in 2022, could possibly return to power generation through Mar. 2031 if approvals are granted.
- Mon 23:08A Nigerian state on Monday inaugurated the flagship national clean cooking programme to reduce emissions, support sustainable development, and access the Paris Agreement Crediting Mechanism (PACM).
- Mon 23:01Five of the world’s largest food and agriculture corporations alone accounted for some 352 million tonnes of CO2e in 2023, while the entire sector still emits about one-third of global GHGs and is not decarbonising fast enough, according to a report published Tuesday.
- No siting issues here - Rex American Resources is continuing to advance its CCS projects in Illinois, CEO Zafar Rizvi announced in the first quarter earnings call, despite a recent bill in the state that would prohibit CO2 sequestration activities when nearby single-source aquifers or primary sources of drinking water. Illinois lawmakers passed SB 1723 on May 20 through both the House and Senate, which creates a committee to assess CCS protocols in the region. Gov. JB Pritzker (D) is currently considering the bill. CEO Rizvi noted that Rex sites are outside the range of the Mahomet single-source aquifer as defined in the bill. Rex is awaiting a Class VI injection well permit from the US EPA for its project in Gibson City, Illinois, and working on a separate project to expand storage capacity at that site. The federal agency will issue a final decision on the injection permit in Jan. 2026.
- Mon 22:45Hitting the brakes - California Assemblymember Jasmine Baines (D) called for the resignation of Liane Randolph as chair of the California clean air regulator ARB in a statement on Friday. Baines based her demand on recent testimony from Randolph, who said ARB does not analyse the impact of their policies on gas prices in the state. California has some of the highest gas prices in the country, costing about $4.78 per gallon ($1.26/litre), compared to the $3.14 national average reported by AAA. Randolph, along with representatives from the California Energy Commission, noted in a state Assembly hearing on Wednesday that gas prices are made up of a lot of variables, making it difficult to determine a direct impact from state policies. Governor Gavin Newsom (D) defended Randolph, whom he appointed to ARB in 2020, calling the assemblymember’s announcement “a stunt” ahead of a run for Congress. (KCRA)
- Mon 22:33Sinking the brown, floating seaweed clogging up Florida coastlines could both help clean up its beaches and store carbon, but projects may struggle to navigate complex regulatory landscapes, researchers from Columbia University suggested in a recent report.
- Mon 22:14Break on Petrobras - More than 60 Indigenous chiefs in Brazil have signed a letter of repudiation against the environmental licensing process underway by Petrobras to explore block FZA-M-59, a site at the mouth of the Amazon River. The Council of Chiefs of the Indigenous Peoples of Oiapoque (CCPIO), a region in the state of Amapa, denounced that they were never consulted about oil exploration in the region. In the document, the group warns of the risks of irreversible impacts on the biodiversity and communities in the area if oil exploration proceeds. CCPIO demands the immediate suspension of any exploration project in the region and calls for the support of Indigenous organisations, human rights entities, and Brazilian society in defence of the lives of Indigenous peoples and the protection of the Amazon.
- Mon 20:55The federal 45Z tax credit originally designed to spur the production of clean transportation fuels can now be claimed by more producers using fossil fuel feedstocks after the US DOE made several adjustments to the way it calculates fuels’ lifecycle emissions.
- Harvest - Brazilian agricultural cooperative Copagril will distribute approximately R$7.5 mln ($1.3 mln) to 226 producers who participated in its 2024-25 carbon credit programme, the organisation announced on Friday. Funds will be distributed on June 17 to participants from the regions of Marechal Candido Rondon, Quatro Pontes, Guaira Mercedes, Realeza, Entre Rios do Oeste, and Pato Bragado, totalling roughly 17,300 ha. Those who are interested in participating in the 2025-26 programme, which targets 37,000 ha in total and an estimated return of R$1,000/ha, can register until June 30.
- A new Emirati law entered into force on Friday, mandating GHG emissions measurement, reporting, and reduction, sector by sector, and promoting carbon trading pursuant to these goals.
- Nearly 1,000 stakeholders have responded to the Science Based Targets initiative's (SBTi) consultation on its latest draft Corporate Net-Zero Standard, with several submissions from the voluntary market and business organisations calling for fewer burdens to carbon credit use, and urging greater alignment with other standard setters.
- Mon 18:46Going global - Global Factor has executed the first EU ETS2 transaction in Spain for EUA2 carbon allowance futures, as part of a bilateral transaction with another unnamed market participant, according to Spanish outlet El Periodico de la Energia. Neither the volume nor price was specified. Trade has so far been slow on the ICE exchange, with only a handful of transactions executed since the first futures launched at the start of May.
- Q1 figures - Vancouver-based project developer Ostrom Climate reported a net loss of roughly C$716,400 ($522,800) in Q1, compared to almost C$1.1 mln in the same quarter last year, according to a Monday press release. Revenue was down 32% YoY to $634,000, as a sharp 79% drop in voluntary credit sales was partially offset by a 204% increase in consulting income. Gross profit more than doubled to $321k due to improved cost efficiency, particularly in its advisory services. The narrower net loss was aided by reduced salaries, R&D, and admin costs, though this was partially offset by $81,000 in new share-based compensation. The company said the loss represented a period of realignment and restructuring, as it reorients its business model from carbon consultancy toward direct project development and ownership, among other changes. Ostrom continues to face liquidity pressure, ending the quarter with just $194,000 in cash against $4.48 mln in current liabilities, and a shareholders' deficit of $5.4 mln. It issued over $600,000 in new promissory notes during the quarter to restructure past arrears. The firm is maintaining its strategic focus on high-integrity, compliance-aligned nature-based offset projects, including its flagship Smart-Rice methane reduction initiative in the Philippines.
- News of the shrinking value of the voluntary carbon market dominated the week, with participants quick to paint a bright picture for the future, but an early summer malaise has already kicked in with credit prices seen drifting lower.
- Mon 17:45Populist and right-wing candidate Karol Nawrocki’s election win on Sunday spells trouble for pro-EU Prime Minister Donald Tusk and the bloc's climate and energy goals, according to analysts.
- Mon 17:27European carbon prices made early gains on Monday, following natural gas and shrugging off the prospect of an 88% jump in auction supply after a holiday-truncated programme last week, before falling back as traders reported a generally steady market as prices remain in the same range they have occupied for the last three weeks.
- Mon 17:09New NDCs still leave billions of tonnes in emissions gap to Paris Agreement targets, say researchersA study of the latest round of Nationally Determined Contributions (NDCs) has calculated that the plans still leave a gap of nearly 20 billion tonnes of CO2e to the upper warming target of the Paris Agreement.
- Mon 16:46CO2 sweet spot - A reservoir suitable for CO2 injection and storage has been identified in the North Sea, drilled by Harbour Energy Norge and its partner Stella Maris CCS. Well 9/6-1 is the first well drilled in the Havstjerne development, which was awarded in May 2023. The data will now be further analysed, and results used for future investment decisions in the Havstjerne storage project. The location is in the southern Norwegian Sea, about 100 km southeast of Egersund, within good sailing distance of ports in Northern Europe. Appraisal of the Havstjerne development concepts include evaluation for CO2 ship-based transport to an offshore injection unit, with targeted injection rate of 5 mln tonnes per year of CO2. (Offshore Engineer)
- Mon 16:10Prepare to launch - A briefing, recently published by the European Parliament, has outlined what to expect from the EU ETS2's launch in 2027. The paper cites several analysts, such as Vertis Environmental Finance, that project EU ETS2 prices could reach into the €200s by 2030. Those at BloombergNEF see fuel prices rising by at least €0.10/litre, according to the briefing, though with high carbon prices, this impact could reach €0.50/litre. The paper highlighted that this would have serious implications for heating and transport costs across the bloc.
- Mon 16:01
Geothermal gains - The US Department of the Interior announced implementation of emergency permitting procedures to expedite environmental reviews for geothermal energy projects related to national security and energy resilience, as part of the national energy emergency declared by President Donald Trump in January. The initiative aims to accelerate project approvals while maintaining environmental standards. Proposed geothermal projects in Nevada, led by Ormat Nevada—an international alternative energy company—will be among the first reviewed under the new procedures. The Bureau of Land Management is expected to complete environmental assessments within 14 days.
- Mon 15:38Pushing forward retirement - A Pennsylvania power plant will continue operating past its retirement date Saturday through to April, E&E News reported Monday. The US DOE used emergency powers to mandate PJM Interconnection to operate two gas and oil-powered units at the Eddystone Generating Station, run by Constellation Energy. DOE Secretary Chris Wright said that the emergency order will support consumers to address affordability challenges and maintain energy reliability. This is the second instance in recent weeks of a DOE-issued emergency order to extend operations of a fossil fuel-fired power plant past scheduled retirement.
- Net zero watch - Non-profit environmental advocacy the Environmental Defense Fund filed an amicus brief in support of Apple’s class action lawsuit Dib vs Apple, which challenges the company’s carbon neutral claim for its Series 9 Apple Watch through the use of alleged "redundant and ineffective offsets". Elizabeth Sturcken, VP for the fund, called the watch “best in class”, noting the company cut nearly 80% of its product-related emissions across its supply chain.
- Watch this space - Academics at Berkeley are looking into the J-REDD+ credits issued under the ART TREES standard to Guyana, they said on Monday. In an update to the university's voluntary carbon database, the US-based researchers flagged they had now added the ART registry to the dataset. This saw 26 J-REDD+ programmes and over 49 mln credits brought in, most generated by the large Guyana jurisdictional activity. "Look out for our quality assessment of these credits, coming soon," Berkeley said. The US institution has been critical of cookstoves carbon projects and methodologies in the past, though recently welcomed an ICVCM decision concerning the sector.
- Mon 15:32US environmental hearing imminent - The Department of Government Efficiency (DOGE) is set to host a hearing this week on whether environmental groups have been funded by taxpayers, according to E&E News. The outlet said the hearing with the new DOGE panel comes as green groups and nonprofits fear their tax status could be revoked.
- Mon 15:28Methane green benefits - Maryland Public Service Commission (PSC) is facing increased pressure to fine utility Washington Gas Light Company after a ruling by PSC's Utility Law Judge Ryan McLean found the company’s marketing statements on customer bills were deceptive, Inside Climate News reported. State agency Office of People’s Counsel filed a complaint with the commission as Washington Gas bill’s included marketing statements about the “environmental benefits” of methane gas.
- Mon 15:23Brazil’s National Commission for REDD+ (CONAREDD) approved last week guidelines for the protection of communities in the implementation of carbon credit projects.
- Mon 15:17The market for sustainable aviation fuel (SAF) will ultimately be led by companies seeking to reduce their Scope 3 emissions through 'book and claim' systems, rather than by offsets or a concerted policy push, said a commercial-scale SAF developer, who stressed the model could extend to other heavy emitting sectors like steel.
- Mon 14:04Asia's carbon markets are maturing fast, but efforts to deploy nature-based projects for climate action still face hurdles stemming from red tape, evolving regulations, and the challenge of winning local community support, a conference heard last week.
- Mon 13:29Further, faster - The CEO of South Pole Daniel Klier has published a letter addressed to the Science Based Targets initiative (SBTi) as the consultation for the draft Corporate Net-Zero 2.0 standard reached a close this weekend. He praised the huge effort taken to revise the standard, but called for further action by SBTi to increase the chances of reaching net zero by 2050. Specifically, he called for enhanced accountability for ongoing emissions to extend the lifespan of our current carbon budget, and incentivising the development of carbon removal capacity for residual emissions to keep net zero in reach. Bolder corporate action is needed ahead of the "full operationalisation of compliance carbon markets", he wrote. Read the letter in full here.
- Mon 13:25Service launch - Tokyo-based power solution provider Eneres has begun to support the creation, purchase, and sale of domestically issued J-Credits, it announced Monday. The company said it will convert the environmental values generated from solar projects, particularly those implemented for self-consumption, into J-Credits. Eneres has also been entrusted by Japan's environment ministry to run an MRV system for the creation of carbon credits.
- Mon 13:08While only a handful of countries have submitted third-generation Nationally Determined Contributions (NDCs) to the Paris Agreement, there has already been a shift in approach across many governments away from treating the plans as a standalone target, in favour of them becoming transformational whole-economy strategies.
- Mon 12:00The European Scientific Advisory Board on Climate Change (ESABCC) on Monday recommended against relying on carbon credits issued by non-EU countries to meet the bloc's upcoming 2040 decarbonisation target, warning it would undermine the EU's credibility.
- Better together - The Enhanced Weathering Alliance (EWA) is partnering with the Carbon Business Council (CO2BC) to reduce admin burden and ensure participation is affordable for early-stage companies in enhanced rock weathering (ERW). They aim to support shared efforts on policy, registries, data transparency, and commercial challenges, to allow ERW participants to stay abreast of changes and connected as the industry expands. ERW has seen a surge in interest recently with substantial commercial contracts being signed and major funding rounds, so by joining forces, the two organisations aim to build momentum in the sector. (Remineralize.org)
- Mon 10:27Unaffordable burden - The English council of Shropshire has warned that expanding the UK ETS to include waste-to-energy plants from 2028 would present it with an additional financial burden that it cannot afford. All of Shropshire Council's non-recyclable waste is burned at the Battlefield Energy Recovery Facility (ERF) in Shrewsbury, which is owned by the council but operated by Veolia. Its call adds to that of the County Councils Network, which is urging the government to focus instead on companies in the petrochemical supply chain such as packaging makers rather than heaping extra cost pressures on already beleaguered councils. (BBC)
- Devil in the details - Drax should be forced to disclose full details of the sourcing for its wood-burning power station, according to environmental campaigners including energy think tank Ember. On Monday, a delegated legislation committee will decide whether to extend the subsidy regime to the UK's biomass power generators, of which Drax's North Yorkshire plant is by far the largest. Campaigners say that any extension should be contingent upon Drax publishing a key report by KPMG into its operations and sourcing, which reportedly says the energy company has not breached any rules on the environmental sourcing of trees. The government plans to halve the subsidies available for biomass power from 2027, leading Drax to say it may roll back investment in its flagship bioenergy with CCS plant in response. MPs are expected to vote Monday on the statutory instrument enabling this. (the Guardian)
- Mon 09:57China plans to reform its intensity-based emissions trading scheme in the coming years and impose an absolute cap on carbon emissions, according to a recent government notice.
- Mon 08:18Along the river - The government of China's Hubei province is seeking to promote 'green shipping' on the Yangtze River and include the river transport sector in carbon markets, according to local newspaper Hubei Daily. The river is the longest in China and the third-longest river in the world. Hubei's emissions trading system, covering more than 300 entities from all industries, has been one of the most active regional markets in China in terms of trading, data from the International Carbon Action Partnership (ICAP) showed. In order to decarbonise the river shipping sector, the government also said it plans to accelerate the application and use of alternative power sources such as LNG and hydrogen.
- Mon 08:18Potential in forests - Forestry project developer Green Foresters has been awarded a grant of JPY 100 mln ($698,373) from a fund established by trading house Mitsui to support its natural capital projects, it announced Monday. The startup has expressed interest in getting involved in the creation of carbon credits through early-stage reforestation projects. Mitsui recently also teamed up with the government of Yamanashi prefecture to create forest-derived J-Credits. The alliance aims to utilise 145,000 ha of forests and generate 1.28 mln credits, potentially the largest size for a single forest project in Japan so far.
- Mon 07:54Woodside’s North West Shelf facility will underpin demand in Australia’s carbon market for years, according to analysis published Monday, raising questions about the ability of the Safeguard Mechanism to deliver the country's climate goals.
- Mon 07:32More credits - Shell is exploring the purchase of Indonesian forest carbon credits, as per local media. The oil giant is in talks to buy credits from one Forest Utilisation Business Permit (PBPH) concession, though other options will be offered. The ministry said it has assessed several PBPHs with potential volumes totalling tens of millions of tonnes of CO2e. Shell has previously bought credits from the Katingan Mentaya Project in Indonesia, and has lately been on a retirement spree.
- Mon 07:31Forest tie up- Forestry company OneFortyOne will retain fellow forester SFM as asset manager of the Limestone Estate in south east Australia after purchasing the asset from New Forests, the company said in a statement. SFM said it would support the transition to supplying more soft wood from its estate's hardwood plantation areas, which will be made viable via generating carbon credits. The new purchaser is a major Australian forester and sawmill operator and is owned by Australia’s Future Fund. The Australian Financial Review estimated Monday the deal could be worth up to A$300 mln ($193 mln).
- Mon 07:05A veteran European carbon markets analyst has resigned his position with a major hedge fund after four years, Carbon Pulse has learned.
- Mon 04:32The type of iron needed for coal-free furnaces requires far more energy to mine and process, but in the world’s leading iron ore production region a carve-out of the Safeguard Mechanism could promote global decarbonisation.
- Mon 03:47Send it from Singapore - ExxonMobil is calling for tenders for a project that will send CO2 from Singapore to Asia as part of a carbon capture and storage project (CCS), Bloomberg reported last week. Singapore’s Energy Market Authority confirmed to the newswire. The US oiler began a feasibility study to move CO2 between jurisdictions last year and has plans already in Indonesia, the most advanced in terms of cross-border storage legislation alongside Malaysia.
- Mon 03:14Seeking talent - The Australian government has launched a talent register for applicants to work as part of the team putting together COP31 next year. The register is seeking workers across two major streams, Operations, which will cover logistical and operational components of the event, and Policy, which will see over policy design and engagement on COP31 outcomes. Australia is bidding alongside Turkiye to host the UN talks, in partnership with Pacific nations. If it is successful, it is likely that Australia would host the conference in the South Australian capital of Adelaide, however this is yet to be officially confirmed. The talks will run for over three weeks in Nov. - Dec., 2026.
- Mon 02:54Poorly crafted - The Queensland state government's Social Impact and Community Benefit bill could see renewable energy project developers forced to finalise Community Benefit Agreements (CBAs) with relevant local governments before they could lodge an application for development approval, The Energy reports. Clean energy groups and other stakeholders have warned this would be highly impractical and could lead to perverse outcomes, such as local government's nixing new projects by dragging out CBA negotiation processes. Changing community expectations during a project development process could also lead to CBAs being struck early in the piece becoming irrelevant. The bill is currently before the State Development, Infrastructure and Works Committee, with hearings to be held this week.
- Mon 01:01The International Air Transport Association's (IATA) latest calculations, based on airline traffic numbers for Q1 2025, continue to suggest that demand under the international CORSIA offset scheme during its current trading phase could near or even exceed 160 million tonnes.
