Global Carbon News: Key Updates and Developments in 2025
TOP STORY
The United Nations has pushed back the deadline for submitting new Nationally Determined Contributions (NDCs) to September. Initially scheduled for February 10th, only a handful of countries managed to submit their contributions ahead of time.
EMEA Region
The European Commission has decided to delay its regulatory package for CO2 transport and storage infrastructure until 2024, causing uncertainty in the carbon capture and storage (CCS) sector.
European carbon prices showed minimal movement on Friday, ending 0.4% higher against the week, but down 2%. Despite strong broader energy market conditions, participants remain cautious, viewing the market as “stuck” and “tired.”
A Kenyan power company plans to tender 1.8 million carbon credits issued last year from geothermal energy projects under the UN’s Clean Development Mechanism (CDM) in February.
AMERICAS Region
The newly appointed administrator at the US EPA has postponed consolidated litigation against Joe Biden’s power plant emissions standards for 60 days, awaiting a thorough review of the underlying rules.
Twenty-two Republican state attorneys general and industry groups are challenging New York’s recently enacted “Climate Superfund” law that targets fossil fuel firms in federal court.
A California senator introduced a bill on Wednesday aiming to regulate carbon dioxide removal (CDR) in the state, the lawmaker’s second attempt to do so.
Investors saw some shifts in carbon allowances trading, with RGGI Allowance (RGA) long holdings experiencing significant reductions while CCA net length increased despite price declines.
Industry insiders in Brazil announced a decree regularizing Indigenous and traditional community access to undesignated federal public forests in the Legal Amazon.
A small Brazilian state signed a Memorandum of Understanding with an environmental services firm for a carbon project worth over R$300 million.
A new study in the US predicts basalt-based enhanced rock weathering (ERW) could remove between 160-300 million tonnes of CO2 annually by 2050, escalating to 250-490 mln tonnes by 2070.
A researcher suggests that 51 carbon capture and sequestration (CCS) projects in the US, aimed at storing at least 30.5 million tonnes of CO2 per year from ethanol refineries, are in the planning stages by the end of 2024.
Projections from a federal regulator indicate that technologies like bioenergy power generation with carbon capture, utilization, and storage (BECSS), and direct air capture (DAC) are not yet prepared to play a significant role in Canada’s net-zero future.
A new analysis claims Canada needs to dramatically increase its CO2 removal efforts beyond its current net-zero commitments to meet global climate fairness standards.
Asia Pacific Region
The Clean Energy Regulator (CER) in Australia issued 3.35 million additional Australian Carbon Credit Units (ACCUs) in its last issuance of 2024, but trading volumes and prices plummeted in January.
The Chinese Carbon Emissions Allowance (CEA) market saw prices decline this week due to diminished market liquidity.
A Japanese project developer made a second bid for a cookstove methodology under the Joint Crediting Mechanism (JCM), marking the first attempt for such a project under the scheme.
An Australian miner holding an iron ore deposit reported a nearly 20% stock price jump after agreeing to supply a large-scale green iron plant in Western Australia.
Voluntary Carbon Market
Stakeholders in the voluntary carbon market, including standards, rating agencies, ICVCM, and SBTi, must reach an agreement on REDD+ methodologies for the sector to scale.
An organization unveiled the world’s first accounting standard for the cocoa sector, providing a framework for companies to measure Scope 3 emissions and carbon removal.
A new study suggests that mangrove forest restoration could generate billions of dollars in both economic and climate benefits, with a global benefit-cost ratio as high as 15 to 1.
Aviation
Market participants remain optimistic about strong supply and demand for CORSIA credits, including from US airlines, amid political uncertainty over international climate initiatives.
Industry experts fear the UK may miss its 2030 goal of 10% sustainable aviation fuel (SAF) by almost half, impacting airlines facing carbon prices under the UK ETS and CORSIA.
International
The $5.2 billion Clean Technology Fund (CTF) is aiding developing countries in sensitizing to carbon pricing through energy transition finance and programming.
A major US-wide nature study was canceled due to the deletion of numerous environmental government websites under a recent executive order aimed at boosting energy production.
Brazilian state-owned oil company Petrobras established a bioeconomy fund to support climate and nature-focused initiatives.
Upcoming Events
Carbon Forward Asia – March 4-5, Singapore – Join experts from the Asia Pacific region to discuss ASEAN markets, local and global carbon pricing, and regional developments at this annual conference.
North American Carbon World (NACW) – March 25-27, Los Angeles – Dive into the latest policies and developments shaping North American carbon markets at this premier annual event.
Notable Developments
Indonesia reaffirmed its commitment to the Paris Agreement despite earlier skepticism from its environment envoy.
UK pressure mounts on Energy Secretary Ed Miliband to finalize decisions on the Rosebank oil field development, crucial for balancing economic growth with GHG emissions reduction.
The UAE is reconsidering its energy mix, aiming for 82% gas, 6% nuclear, and 10% solar power generation by 2022, with plans to increase solar capacity to 52% and reduce oil use below 1% by 2050 due to the EU’s Carbon Border Adjustment Mechanism (CBAM).
Carbon Removal Kenya was launched to promote carbon removal in Kenya and Africa through various pathways like direct air capture (DAC), biochar, enhanced rock weathering (ERW), and mineral storage.
Germany is likely to exceed its 2030 onshore wind power target by 3 GW, with 50 GW of planned capacity awaiting approval or already installed.
Germany is set to sever its major energy links to Russia and integrate with the EU electricity network, marking a historical symbolic move despite potential risks.
The EU mandates companies to electrify corporate car fleets, hoping to achieve 2 million electric vehicle sales by 2030.
An EU directive supports the development of low-carbon ships and decarbonization technologies in the shipping sector via the Corimer Low-Carbon Ships initiative.
Singapore’s Nxera DCT secured a S$643 million green loan for its DC Tuas data center, meeting the criteria for Green Mark Platinum certification.
Potentia Energy, a joint venture between Enel Green Power and Inpex, acquired a controlling stake of 1 GW of renewable energy projects in Australia.
The Thai government collaborated with institutions to raise awareness about the upcoming carbon tax through real-time emissions data tracking and consumer engagement initiatives.
Vietnam approved a nuclear strategy focusing on the Ninh Thuan Nuclear Power Project, aiming for completion in 2031.
Miscellaneous News
Democrat lawmakers in the US are revising their messaging to emphasize climate policies benefiting working families and opposing Republican infringement.
The US House passed a bill protecting fracking usage unless explicitly authorized by Congress.
The Trump administration rescinded federal initiatives ensuring local communities benefit from large energy projects.
The Supreme Court denied delays for litigations challenging environmental cases under the EPA.
The US Federal Highway Administration suspended EV infrastructure deployment approvals under the National Electric Vehicle Infrastructure Formula Program.
A new grant of $35 million in New Jersey aims to promote electric vehicle transition among local governments and small businesses.
A Hawaii bill proposes a carbon cashback programme aimed at reducing greenhouse gas emissions while providing financial relief to residents.
Alberta introduced an EV tax aligned with fuel taxes paid by internal combustion engine vehicle owners.
British Columbia plans to fast-track clean energy projects with new legislation.
The CD Howe Institute addressed the economic impact of US tariffs on Canadian imports.
MexiCO2, a Mexican carbon platform, will hold the first auction of Chilean offsets before the country’s $5/t carbon tax deadline.
Isometric released an updated protocol for biochar production and storage for public consultation.
Final Remarks
As we navigate the complex landscape of global carbon markets and policy, these updates highlight the critical interplay between regulatory changes, technological advancements, and environmental commitments. Staying informed and engaged is more vital than ever as we work towards a sustainable future.
Got a tip? How about some feedback? Email us at news@carbon-pulse.com
Don’t forget to subscribe to our newsletter for the latest updates and follow us on social media for real-time news!
