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- Although no federal agency has statutory authority to impose carbon credit integrity standards, the US Federal Trade Commission (FTC) may be best positioned to influence the market, according to a new report.
- Wed 00:01Climate change is set to cause widespread disruption to global labour markets and will have profound implications for central banks, according to a report published Wednesday.
- Tue 22:45Most renewable energy projects are now cheaper than fossil fuels alternatives, according to a report published Tuesday by an international energy agency.
- Tue 22:42A global energy and petroleum company is partnering with a forest carbon project developer to conserve forests from land conversion and harvesting.
- Lost legislation - A landmark US bipartisan climate change law focused on helping farmers navigate the country's carbon markets and cut GHG emissions may not come to fruition, E&E News reported. The Growing Climate Solutions Act, enacted by Congress in 2022, aimed to create a network of government-certified providers to verify GHG reductions climate-friendly farm practices, but the Department of Agriculture has shown few signs of implementing the law. In the final days of the administration of President Joe Biden in January, the US Department of Agriculture (USDA) announced the appointment of over 30 members to an advisory council intended to facilitate wider stakeholder engagement in the Greenhouse Gas Technical Assistance Provider and Third-Party Verifier Program, an initiative founded under the Growing Climate Solutions Act.
- Tue 20:59The secretariat of the ART programme has opened version 3.0 of its TREES jurisdictional REDD+ (J-REDD) standard for public consultation, filled with clarifying notes and new information – including on the ‘high forest, low deforestation’ (HFLD) methodology.
- Climate watch - Environmental Defense Fund (EDF), a US-based environmental advocacy organisation, has filed an amended amicus brief in a class action lawsuit against Apple's sustainability marketing practices to correct legal errors that it said could create uncertainty and discourage corporate climate action. EDF filed the original amicus brief last month in support of the tech giant, stating that Apple’s approach of "deep decarbonisation paired with high-quality carbon credits represents credible climate action". The lawsuit challenges the company’s carbon neutral claim for its Series 9 Apple Watch through the use of alleged "redundant and ineffective offsets".
- Salty storage - The National Energy Technology Laboratory (NETL), a US Department of Energy national laboratory, has launched CO2-S-COM-Offshore, a technoeconomic modelling tool for assessing the feasibility of offshore carbon storage projects in saline reservoirs in the Gulf of Mexico. The tool allows users to analyse project costs across various stages – including site selection, permitting, transport, operations, and decommissioning – by adjusting key inputs such as injection rates, monitoring levels, and financing models. The tool is designed to be adaptable and evolve as the carbon storage industry advances and new regulations are enacted, according to the NETL.
- Campaign promises - Guyana’s main opposition coalition, A Partnership for National Unity (APNU), has pledged to increase the share of Guyana’s carbon credit revenues allocated to Indigenous communities from 15% to 50% if elected in the upcoming September elections. Speaking at a rally, Prime Ministerial candidate Juretha Fernandes stated that, under APNU leadership, these funds would be distributed directly to Indigenous families, rather than through community leaders. The commitment follows Guyana’s $750 mln carbon credit deal under the Architecture for REDD+ Transactions (ART) initiative, which currently directs 15% of proceeds to Amerindian villages for community-led projects. (Guyana News)
- Tue 19:31Major voluntary carbon market (VCM) standard Verra announced Tuesday it posted a $19.37 million financial loss in 2024 as it undertook a major transformation, but said there are indications its course correction is working.
- Carbon offsets for customers - Hybrid Power Solutions, a Canadian clean energy company specialising in portable, off-grid power systems, has partnered with Terrapass, a US-based provider of carbon offset products, to offer customers a way to offset emissions from hybrid systems that still require diesel or propane generators. The initiative aims to allow users to purchase certified carbon credits and receive impact reports tied to verified offset projects, including forestry and methane capture.
Hydro boost - Brazilian utilities company Eletrobras has signed a contract to sell carbon credits generated by the Teles Pires hydroelectric plant to the state-backed Banco do Brasil (MegaWhat). In turn, Banco do Brasil has brokered the sale of 992 credits to Brasilseg Companhia de Seguros, supporting the insurance company’s push to offset some 1,985 tCO2e in GHG emissions across Scopes 1, 2, and 3. No prices have been disclosed for the transaction. Banco do Brasil VP of Wholesale Business Francisco Lassalvia welcomed the development, noting it marked an expansion of the bank’s offerings to include a new type of financial intermediation.
Sustainable skincare - Canadian skincare company Deciem has partnered with nature restoration platform veritree to plant 110,000 post-wildfire trees and kelp across British Columbia and Alberta, the companies announced on Monday. The project is expected to sequester over 43,800 tCO2, equivalent to offsetting emissions from producing and shipping more than 55 mln skincare units. The partnership is part of DECIEM’s broader environmental strategy and veritree’s global restoration work.
- Tue 19:14Fuel distributors in Brazil that are not in compliance with RenovaBio, the main mechanism of the national biofuel policy, will no longer be allowed to purchase domestic or imported fuel starting on Tuesday.
- Tue 18:58The British Standards Institution (BSI) has developed two new standards to guide the quantification of engineered carbon removal (CDR) solutions in the country.
- Tue 17:14EU carbon allowance prices fell to their lowest in more than three weeks on Tuesday as aggressive selling pressure overcame steady but modest buying, taking EUAs below several technical supports, as the market awaited news of the September-December auction programme and updates on the free allocation of allowances.
- Tue 16:32Loss for Eni - A top court in Italy ruled that a climate change against Italian energy group Eni can continue, Reuters reported. Greenpeace Italia and ReCommon raised the case, with the appeals court ruling Italian courts have jurisdictions to hear climate litigation cases, including those involving emissions from Eni's foreign subsidiaries. The two climate campaign groups hailed the ruling as a victory, stating climate justice is possible in Italy. They asked the court to determine Eni's responsibility for past and future environmental harm and also want to make the energy group and its key investors change their climate strategy. Some 31.8% of Eni is owned by the Italian government. (Reuters)
- Tue 16:04Banks must set a deadline to end financing new fossil fuel projects, and also asses and disclose exposure to deforestation risks, to set a net zero target approved by the Science Based Targets initiative (SBTi), it was announced Tuesday.
- Tue 15:43Roadless Rule rage - Regional experts are sending up flares the US Department of Agriculture’s rescission of the Roadless Rule – which protects vast swaths of national forests from road development – would damage natural beauty and go against the interest of Midwest residents and industries, reported Inside Climate News. Secretary of Agriculture Brooke Rollins has argued the repeal would help forest management, wildfire mitigation, and more responsible timber production, but the outlet said those familiar with Midwest forests caution the opposite is true.
- Tue 15:42One big, beautiful roadblock - US President Donald Trump appears to be escalating his attacks on wind and solar, E&E News reported. The outlet said clean energy officials warned the administration has entered a new combative phase against renewables, including erecting roadblocks for projects already underway.
- Tue 15:37The Supervisory Body for Article 6.4’s methodological expert panel (MEP) is pushing to approve “at least one” carbon crediting methodology under the new Paris Agreement Crediting Mechanism (PACM) by October, its co-chair told a webinar on Tuesday.
- Tue 15:36A New York-based forest carbon project developer has closed a project finance facility worth up to $210 million to support an afforestation project in the voluntary carbon market (VCM), in what the company said is the first financing of its kind in the sector.
- Tue 15:22DAC partners - Capture6, a supplier of direct air capture (DAC) carbon removals, has partnered with registry Isometric to issue DAC credits. The partnership will see Isometric issue credits in accordance with the Isometric Standard and the Direct Air Capture Protocol. Capture6's technology uses saltwater and renewable energy to remove CO2 from the atmosphere, whilst producing freshwater for drinking, agriculture, or industry. It can be integrated with existing infrastructure such as desalination plants and water treatment facilities.
- Tue 15:21Power-to-hydrogen-to-power, a form of clean energy storage, holds long-term strategic value as part of a diversified approach to decarbonising the electricity sector, according to a new report, with carbon pricing likely to determine the pace of its rollout.
- Tue 15:08The Democratic Republic of Congo’s (DRC) environment ministry has requested the inclusion of a carbon tax on industrial GHG emissions in the country’s 2026 finance law, according to an official letter sent to the budget ministry earlier this month.
- Tue 14:53Offshore argument - Regulators from Maryland's Department of the Environment (MDE) are pushing back against accusations by federal regulators that the agency made an error when issuing a permit to an offshore wind project, E&E reported. MDE officials said last week the agency doesn’t plan to reissue or change the final construction approvals granted in June for the US Wind’s Maryland Offshore Wind project, one of the few offshore turbine farms in late stage permitting or construction along the East Coast. The US EPA told Maryland regulators that the MDE had incorrectly told potential opponents of the project to appeal the process via a state process instead of a federal one.
- Tue 14:53Canada has committed C$125 million ($91 mln) to plant 12 mln trees and restore habitat for species at risk in Alberta.
- Tue 14:46South Africa's national carbon budget and mitigation regulations are due for publication in August, the country's Department of Forestry, Fisheries, and the Environment (DFFE) said in a statement this week.
- Tue 14:43The European Commission granted nearly €319 million on Tuesday to six industrial decarbonisation projects under its flagship Innovation Fund, drawing from revenues generated by the EU Emissions Trading System (EU ETS).
- Tue 14:38Voluntary carbon crediting body Gold Standard has published activity requirements for carbon removal projects, in an update Tuesday.
- Tue 14:29Clean credit challenge - The accelerated phase-out of US clean tax credits under the One Big Beautiful Bill Act (OBBBA) has increased uncertainty around state efforts to expand renewable energies, E&E reported. States - such as those in the Northeast with ambitious GHG reduction targets - are delaying procurement processes for new renewables, including solar and offshore wind, as they evaluate the energy impacts of the OBBBA.
- Tue 14:28The European Commission’s proposed methodology for measuring the greenhouse gas emissions of low-carbon hydrogen leaves key gaps on methane emissions tracking, and uses default values for upstream fossil gas emissions that are too optimistic, analysts have said.
- Tue 14:20Geoengineering methods including carbon removal (CDR) and solar radiation management (SRM) risk destabilising ecosystems, straining resources, delaying emissions cuts, and exacerbating geopolitical tensions as global temperatures exceed the 1.5C threshold, according to a report released last week.
- Tue 14:17The potential volume of the LEAF Coalition's pipeline of emissions reduction payment agreements stands at 174.19 million tonnes of CO2e, which equates to at least $1.74 billion in results-based finance, according to a new UN report.
- African carbon potential - Malawi has so far generated MWK 300 mln ($150,000) through carbon trading from the sale of about 75,000 carbon credits, through frameworks such as the Green Development Mechanism and REDD+ initiative. In 2023, the southeast African country finalised the Malawi Carbon Regulatory Framework and the government views credits as a way to bring foreign capital to Malawi and restore its degraded forests. The potential value of Malawi's carbon credits is estimated at 19,882,395 tonnes per annum - translating to over $600 mln annually. The World Bank estimates Malawi can earn between $25-70 mln annually from its forest carbon. (Unsustainable Magazine)
- Tue 14:06If electricity demand continues to grow at the current pace of around 3% per year, it will be enough to drive a structural decline in final fossil fuel demand by 2030, according to an energy think tank, which studied the impact of rising electricity demand across the economy.
- Tue 13:54The UK government has appointed a long-time advocate for climate action in the private sector to be the new chair of the independent Climate Change Committee (CCC), it announced on Tuesday.
- Tue 13:35The UK government has finally signed off on a long debated £38 billion nuclear power plant, after attracting four new private investors.
- Tue 11:16Light travels - Japanese energy major Eneos and Mitsubishi Corporation have signed definitive agreements with Houston-based oil and gas production company Par Pacific to establish Hawaii Renewables, a joint venture to produce renewable fuels in Hawaii, the companies announced Tuesday. Eneos and Mitsubishi will acquire a 36.5% equity stake in Hawaii Renewables through a subsidiary. Once fully operational, Hawaii Renewables will be the state’s largest renewable fuels manufacturing facility and produce up to 60% sustainable aviation fuel (SAF) as a first step towards decarbonising Hawaii’s air travel market, Eneos said.
- Tue 11:11Have your say - Ahead of the Supervisory Body's 17th meeting (SBM 017), the agenda and relevant documents have been published on the UNFCCC website. Stakeholders are invited to provide input on the topics outlined in the annotated agenda and its annexes through a public call for input, with a submission deadline of July 28. The Supervisory Body will then convene in Bonn from Aug. 4-8. During the meeting, members will discuss several key items, including a draft methodological standard related to suppressed demand, as recommended by the Methodological Expert Panel (MEP), and the initial accreditation of five Designated Operational Entities, based on the recommendation of the Accreditation Expert Panel (AEP). In addition, the body will review proposed revisions to the activity cycle regulations for projects and programmes. The agenda also includes discussion of a draft two-year business and resource allocation plan for 2026–27, as well as a draft annual Article 6.4 Supervisory Body report to the CMA.
- Tue 10:40To meet the UK government’s target of installing 43-47 gigawatts (GW) of offshore wind power by 2030, about 8 GW of new capacity must be approved in this September’s auction round, but experts warn that various challenges still need to be addressed for these projects to actually be built.
- Tue 10:30Facilities covered under Australia’s Safeguard facilities have begun implementing more long-term strategies to manage their compliance obligations, both by securing credit supply and investing in decarbonisation technologies, an event this week heard.
- Tue 10:24SAF funding - Essar Energy Transition (EET) has received £2.5 mln in government funding to develop one of the UK's largest advanced sustainable aviation fuel (SAF) facilities at its Stanlow energy hub in northwest England. The funding will support the facility's conversion of renewable e-methanol and bio-methanol into up to 200,000 tonnes of SAF annually. This will then be blended onsite with EET Fuels' existing jet fuel output to integrate into UK airport supply chains. The funding will enable EET to advance to pre-FEED stage for the project, with targeted completion of pre-FEED by Mar. 2026 and financial close expected by end 2027, stated the release on Tuesday.
- Tue 10:22The Science Based Targets initiative (SBTi) has paused work on its long-awaited emissions standard for the oil and gas sector after Shell, Norway’s Aker BP, and Canada’s Enbridge withdrew from its advisory group, the Financial Times reported Tuesday.
- Tue 10:17CDR grant - The Wren Climate Collective is offering a $100,000 non-dilutive grant for early-stage carbon removal (CDR) companies, to help them accelerate their technologies from lab to pilot and then commercial scale. This year, the non-profit is focused on projects with a technology readiness level (TRL) between 2-6 and companies with fewer than 1,000 tonnes under contract (pre-purchases). Interested parties can apply here.
- Tue 10:04Teaming up - Singapore-based carbon exchange Climate Impact X (CIX) has signed an MoU with China-Singapore Suzhou Industrial Park Development Group (CSSD) and DBS Bank for the development of international carbon markets, amid growing demand for carbon credits and green energy certificates. Shanghai-listed CSSD is the joint venture master developer set up by the governments of Singapore and China. Suzhou Industrial Park will serve as a pilot demonstration zone for the alliance to explore how companies in China and beyond can leverage carbon markets, CIX said, without disclosing further details.
- Tue 10:00Deforestation rates on Afro-descendant lands in four Amazon countries are up to 55% lower than the average, with significant benefits for biodiversity and carbon storage, according to a paper released Tuesday.
- Carbon advisory purchase - PNZ (Powering Net Zero) Group has acquired Arete Zero Carbon, a carbon and sustainability consultancy that helps UK businesses measure, manage, and reduce their carbon emissions, it stated Tuesday in a press release. It will now operate as PNZ Advisory and will join PNZ Carbon and PNZ Energy under the PNZ Group umbrella, which brings together advisory, clean energy infrastructure, and access to verified carbon credits to help clients in their net zero journey.
- Tue 09:06Crediting biodiversity and blue carbon projects are among key viable options for the Pacific to raise finance from nature-based solutions (NbS), according to a recent regional report.
- Tue 09:01The UK government has proposed including energy-from-waste (EfW) and waste incineration within the country's Emissions Trading Scheme (ETS) from 2028, with a two-year voluntary monitoring period starting next year, it announced late Monday.
- Tue 08:57Australia’s carbon capture and storage (CCS) laws may contradict or replicate one another in a way that will disincentivise project development via onerous regulation, a legal firm argued this week.
- Tue 08:49The UK government has proposed including maritime emissions into its carbon market from midway through next year, in a response to a public consultation published late on Monday.
- Tue 07:56Not Super - Australian activist investor group Market Forces has lashed pension fund giant AustralianSuper for a recent A$300 mln ($195 mln) investment into Whitehaven Coal calling it a “risky bet on an unsafe climate future” in the A$5.4 bln company. Market Forces said the fund had pulled out in 2020 but had piled back in for 60 mln shares over the course of the year. Shares are down over A$1 in 12 months to A$6.45 each but have recovered since an April low of A$4.35. Whitehaven is separately being pursued in court by environmental activists for a planned new mine they say will contribute to climate change. AustralianSuper has A$367 bln under management.
- Tue 07:55Mapping initiative - South Korea's National Institute of Forest Science, a government affiliate, has launched a study to improve the precision of carbon uptake prediction of domestic forests using AI, Yonhap reported. The institute said it is conducting research to create a nationwide “forest carbon map” that quantifies the annual carbon uptake of forests, combining observation data from flux towers installed in major forests across the country and satellite images. It also plans to establish a mid- to long-term plan that includes additional installation of forest flux towers and research on advanced AI algorithms.
- Tue 05:42L&D planning – Vanuatu has released a new policy on loss and damage, with an implementation roadmap, said UNDP in a press release. Structured around 11 themes, it contains 85 policy directives, as well as costings to undertake the most pressing actions. The policy was developed with technical and financial support from the Global Green Growth Institute and the UK’s Small Island Developing States Capacity and Resilience Programme, and was subject to a public consultation in June. The policy release came as the International Court of Justice prepares to publish its advisory opinion Wednesday on an initiative led by the Pacific Island nation about the obligations of states in respect of climate change, following hearings at the end of last year.
- Tue 05:13The Clean Energy Regulator issued 2.34 million Australian Carbon Credit Units (ACCUs) in June, according to its latest update, roughly one-third of which went to GreenCollar’s trading arm, Terra Carbon.
- Tue 04:36Despite a growing number of corporates setting climate targets in Australia, they are failing to back those up with capital, said a new report, warning of a critical gap in net zero investments.
- Tue 02:35One step forward – Australia's New South Wales state government has approved a proposal by Verdant Earth to covert the now-defunct coal-fired Redbank power station to biomass, but the volume of submissions opposing the move means it is now headed for an independent review, Renew Economy reported. In a statement last week, NSW's Independent Planning Commission said it is the consenting authority for the proposed plant, which would have a capacity of up to 151 MW of dispatchable energy from burning up to 700,000t of biomass annually. The commission is planning a public meeting for Aug. 11, and is also accepting written submissions until Aug. 18. In 2022, Verdant began a A$100-mln ($65 mln) fundraising for the project, which has a capital investment value of A$71 mln, according to the state government’s assessment document.
- Tue 01:56No collusion – The Commerce Commission has dismissed a complaint by Federated Farmers against five of New Zealand’s major banks, it said on Monday. The agriculture lobby group had alleged that ANZ, ASB, BNZ, Rabobank, and Westpac – which account for 97% of New Zealand’s loans market – were coordinating their lending policies to the sector to align with the Net-Zero Banking Alliance, and acting anti-competitively in so doing. A Commission investigation found no evidence of cartel-like behaviour and said it would take no further action. It also pointed to guidance it published in Nov. 2023 regarding competition and sustainability, to enable sectoral-based collaborations without running foul of New Zealand law. The UN-convened NZBA earlier this year voted to water down its climate requirements following several high-profile departures from the group amid a shift in US climate policy. HSBC earlier this month became the latest bank to exit the NZBA. Meanwhile, Federated Farmers last week called for New Zealand’s sustainable finance taxonomy to be scrapped, claiming it would make it hard for farms to access financial services such as insurance, loans, and investment.
- Tue 01:00China has the potential to avoid CO2 emissions nearly equal to the EU's entire steel sector by meeting its 2025 green steel goals, but the country needs a dramatic course correction in the second half of the year, according to a report released Tuesday.
