TOP STORIES
The global carbon markets have experienced a slight but notable uptick, reaching a value above €800 billion in 2024. Analysts report that traded volume increased by almost 25% compared to the previous year. The surge in activity is observed across nearly all market systems, reflecting a broader interest in sustainable solutions.
During the early weeks of President Donald Trump’s administration, US environmental policy began to unravel, casting some doubt on subnational carbon markets. Traders are wary, holding large option positions as a safeguard against potential negative impacts. Meanwhile, policymakers are still navigating long-term implications, with California’s ETS rulemaking delayed in the aftermath of recent wildfires.
EMEA
BP, one of the world’s largest fossil fuel companies, has recently announced a reduction in its investment in green energy initiatives. This follows similar moves by various oil and gas producers who have recently revised their climate targets.
The EU faces a significant deadline, needing to submit its 2035 climate target to the UN before the COP30 climate summit in November. Pressure is mounting on Brussels to meet this obligation swiftly to ensure alignment with international climate goals.
Despite growing opposition and concerns regarding potential financial burdens, European policymakers remain optimistic about the new EU Emissions Trading System (ETS2) specifically tailored for road and heating fuels. The system’s fate will likely hinge on policy decisions and expert consultations.
A leading European financial exchange has partnered with a specialized carbon removal (CDR) marketplace to create a multi-year carbon portfolio, signaling increased confidence in carbon offset solutions.
The UK government has launched a second consultation on its nuclear energy policy, aiming to expand its scope to include small and advanced modular reactor technologies. The initiative seeks public feedback to refine future strategies.
The thriving UK solar PPA market, driven by favorable pricing and seasonal conditions, may soon face a decline in its luck. Analysts predict that market dynamics will shift, making sustained growth less likely.
European carbon prices saw a slight decrease on Tuesday, largely in response to mild weather forecasts. These prices initially showed weakness before recovery, based on speculation around potential German policy changes related to energy storage.
AMERICAS
Guatemala’s finance ministry has proposed dedicating nearly 10% of its budget increase to the country’s carbon crediting program, underscoring the nation’s commitment to sustainability.
The US Securities Exchange Commission (SEC) has paused legal proceedings against its contested climate disclosure rules. The agency needs additional time to review next steps following a regulatory freeze in the Trump administration.
President Donald Trump has introduced a 25% tariff on steel and aluminum imports from all countries. This move is intended to address trade imbalances and potential economic threats.
In 2024, Oregon’s Clean Fuels Program (OCFP) faced a significant challenge from a record diesel deficit, which offset overall credit production. These developments highlight the ongoing complexities in state-level regulatory frameworks.
A Texas-based soil carbon developer has partnered with a land trust to preserve 6,300 acres of grassland from conversion to cropland, generating thousands of carbon credits in the process.
A reforestation company in Seattle has secured $25 million in Series B funding to enhance its biomass burial operations, a strategy aimed at alleviating wildfire impacts.
A US non-profit organization has joined legal challenges against the Iowa Utilities Commission’s approval of a CO2 pipeline permit, intensifying opposition to the controversial decision.
A Democratic state legislator in Texas has submitted legislation to establish a new CO2 sequestration policy council, reflecting growing interest in state-level solutions.
The former head of the US Commodity Futures Trading Commission (CFTC) who oversaw voluntary carbon market derivatives has stepped down, leaving behind an acting chair.
According to a new study, Canada’s target for achieving net zero is deemed impractical due to projected increases in electricity demand outpacing available clean power options.
ASIA PACIFIC
Nepal has submitted a list of potential project activities under the UNFCCC’s Article 6.4, aiming to generate carbon credits to meet its Nationally Determined Contribution (NDC).
Australia has passed legislation to offer production tax credits for hydrogen and critical minerals processing, aiming to stimulate the growth of clean energy industries.
INTERNATIONAL
A Swiss organization responsible for Article 6 transactions has concluded a deal to purchase carbon credits for a clean cooking initiative in Malawi, aligning with the Paris Agreement.
AVIATION/SHIPPING
The chair of ICAO’s technical body has confirmed that new Paris Agreement units will be evaluated for CORSIA compliance once the mechanism is officially ready.
Shipping companies are currently exploring various strategies to comply with the EU’s new maritime fuel intensity regulation. This year, the sector’s exposure to carbon policies has doubled, with biofuels gaining popularity as a compliance option.
Businesses should consider establishing high-level initiatives to integrate ecosystem services into supply chain management. A spokesperson from the International Platform for Insetting argues that addressing nature impacts is crucial for deep transformations.
The UK market for biodiversity net gain (BNG) has seen significant activity, with sales in January surpassing totals from the second half of the previous year. This surge indicates growing interest in nature-based solutions.
Two technology firms have collaborated to enhance water quality monitoring across the UK, targeting pollution impact mitigation on natural ecosystems.
Paris-based organizations Motherbase and CDC Biodiversite have launched a public database featuring over 1,000 early-stage nature technology companies, promoting transparency and investment opportunities.
A Belgian multinational chemicals firm has partnered with the International Union for Conservation of Nature (IUCN) to meet its nature targets as outlined in the Global Biodiversity Framework.
A London-based travel company has acquired biodiversity credits through a restoration project in Portugal, contributing to global efforts to protect natural resources.
A global non-profit focused on combating plastic pollution has initiated a US-based fund to raise $30 million for marine biodiversity restoration projects.
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EVENTS
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Carbon Removal Day – February 27, Ottawa – Carbon Removal Canada is hosting a conference titled “Policy to Progress: Carbon Removal Day 2025” to discuss current carbon removal technologies and future challenges. Join experts to drive innovation and scaling. Register
Carbon Forward Asia – March 4-5, Singapore – This annual conference in Singapore will bring together experts from the Asia-Pacific region to explore ASEAN markets, carbon pricing, and climate policy. Register
North American Carbon World (NACW) – March 25-27, Los Angeles – The NACW conference addresses pressing climate policy issues and developments impacting carbon markets. Key themes include major policy shifts, market integrity, and opportunities for innovation. www.nacwconference.com
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Bite-Sized Updates from Around the World
EMEA
Catalyst Fund Seeks Climate Tech Solutions – Kenya’s Special Envoy for Climate is looking for pre-seed startups for its Catalyst Fund, designed to invest in climate-resilient technologies in Africa. The fund is interested in innovative solutions in WaterTech, Financing Solutions for Regenerative Agriculture, Precision Reforestation, Alternative Materials, and Coastal Resilience Technologies.
Focus on Net-Zero Trucks in EU – The European Automobile Manufacturers’ Association (ACEA) has called for increased emphasis on heavy-duty vehicles as part of discussions for a new EU corporate fleet law. This initiative aims to boost demand for zero-emission vehicles through targeted actions at both EU and member state levels.
Ecologi Acquires Net Zero Now – Ecologi, a British climate action platform, has announced the acquisition of Net Zero Now, a carbon measurement and reduction platform for businesses. The combined entity will offer a single solution for businesses to measure, reduce, and report their carbon footprint alongside investing in verified climate projects.
Zimbabwe Elevates its NDC Submission – Zimbabwe has recently submitted its updated Nationally Determined Contribution (NDC) to the UNFCCC, raising its ambition to reduce GHG emissions by 40% compared to the 2035 baseline scenario. The country has also introduced three new adaptation sectors: health, tourism, and forestry and biodiversity.
ASIA PACIFIC
Australian Banks Exit Net Zero Banking Alliance – Macquarie Bank, along with other major financial firms, has announced its departure from the Net Zero Banking Alliance (NZBA). The bank will continue to focus on updating its decarbonization plans and reporting progress in May.
Indonesia Plans Renewable Energy Expansion – Indonesia plans to add 17 GW of solar and 16 GW of hydro power by 2035, increasing its renewable energy share from 12% to 35%. Gas and coal projects are also part of the national power plan.
Australia and South Korea Agree on Green Shipping Route – South Korea and Australia have signed an agreement to create an eco-friendly shipping route by 2029, aimed at reducing carbon emissions through joint efforts.
Taiwan Eyes Alaskan LNG Supplies – Taiwan is exploring opportunities to purchase natural gas from Alaska to mitigate trade surpluses and avoid US tariffs. The purchase will further diversify the island’s LNG supply.
Thai Power Company Invests in Renewable Energy – Thailand’s national power company, EGCO, has pledged to invest THB 30 billion in renewable energy projects. This year’s investment will result in the commissioning of 1,000 MW of new power capacity, with the goal of reaching 30% renewable energy by 2030.
Insurance Funds Target Green Energy Investment in Taiwan – Taiwan aims to attract over $1.5 billion in insurance fund investments to support its green energy transition. The environment ministry, in collaboration with financial regulators, is forming a working group to facilitate this funding.
AMERICAS
Judicial Order to Unfreeze Federal Grants in US – US District Judge John McConnell has ruled that the Trump administration must immediately unfreeze federal grants, including those from the Inflation Reduction Act, due to claims of constitutional violation and significant harm caused by the freeze.
Call to Repeal 45Q Tax Credit for Carbon Capture – A group of US environmental and policy organizations has urged Congress to repeal the 45Q tax credit and other subsidies for carbon capture and sequestration (CCS). These groups argue that the program is inefficient, poses safety risks, and lacks meaningful emission reductions.
Biorem Secures $8 Million in New Orders – Biorem Inc., a clean technology firm specializing in air emissions control, has received new orders worth over $8 million, increasing its backlog to $60.5 million. Market experts predict minimal impact from trade uncertainties due to the company’s diversified supply chain.
Cool Climate Club Launches Sustainability Platform – Cool Climate Club, a Canadian sustainability-focused platform, has launched its platform at the Toronto Stock Exchange. Backed by the Forest Trust Corporation, it offers tools for retailers to integrate climate action and meet growing consumer demand for sustainability.
Quebec Publishes Updated Afforestation and Reforestation Forms – The Quebec environment ministry has released updated forms and templates related to its afforestation and reforestation offset protocols. Project applications and reports can now be submitted as per these guidelines.
Parana Develops Carbon Credit Program for Rural Producers – Invest Parana, the state’s promotion agency, is developing a new carbon credit program to incentivize rural producers—mainly farmers—to conserve at least 20% of their productive land.
Pemex Announces First Sustainability Plan – Mexico’s state-owned oil company, Pemex, has unveiled its first sustainability plan, aiming for net zero Scope 1 and 2 emissions by 2050 and a methane reduction target of 30% by 2030. This marks a significant step in Pemex’s commitment to climate action.
VOLUNTARY
Tero Carbon Launches Land Tenure Compliance Seal – Tero Carbon, a Brazilian certification body, has initiated a public consultation on a new Land Tenure Compliance Seal system for Nature-Based Solutions (NbS) projects. The seals will classify projects based on their land tenure compliance and management practices.
Carbon Trust Launches Online Product Directory – An online directory featuring products with Carbon Trust labels has been launched. This directory makes it easier for consumers to access verified carbon reduction data, enhancing transparency and trust in carbon claims.
SCIENCE & TECH
Breakthrough Rice Variety Reduces Methane Emissions – Researchers have developed a new rice variety predicted to cut methane emissions by 70% while doubling global average yield. This breakthrough rice strain could help countries meet climate targets without compromising food production.
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