CP Daily: Sunday March 30, 2025

Here is your quick-read overview of our latest environmental news highlights along with concise updates from around the globe.

Main Highlight

In a significant stride towards establishing its carbon market, New Delhi has finalized the framework for its voluntary carbon market, an ‘offset mechanism’. The government confirmed the approval of eight different methodologies that include projects from renewables to reforestation. This represents a pivotal movement in India’s journey toward reducing carbon footprints.

Regional Updates

Asia Pacific

• The Australian government’s much-anticipated Integrated Farm Land Management method is facing more delays, as indicated by the new draft released to stakeholders.
• Wildlife Alliance from the US has delivered a mandated progress report to Verra, highlighting their efforts in amending issues with the Southern Cardamom REDD+ project.
• In China, CO2 permit prices have seen a decline over the past week, a possible reflection of the nation’s cautious emission trading system expansion plan.
• Australia’s organic waste processing enterprise has joined forces with another project developer for generating revenue via carbon credits.
• A think tank has collaborated with British Embassy-supported Green Energy Transition Indonesia to establish a green hydrogen community, as a government hydrogen plan looms.

EMEA

• Civic and industrial entities have united in an agreement to reduce opposition to new renewable projects in Europe, aiming to expedite renewable energy deployment.
• The European Commission plans to present options by May to address ‘export leakage’ concerning the EU’s Carbon Border Adjustment Mechanism.
• A fresh domestic market for carbon removal is on the horizon as the European Union crafts regulations to meet its UN climate commitments.
• The UK’s woodland carbon standard will introduce an upgraded crediting code, enhancing the program’s quality.
• Ghana is courting investment in environmental projects expected to churn out millions in biodiversity and carbon credits.

Americas

• A bill introduced by three US Republican Congress members seeks to dismantle the EPA’s Renewable Fuel Standard.
• The US Supreme Court could potentially rule against the EPA in cases challenging its handling of lawsuit transfers, contingent on a pivotal justice’s stance.
• Lawsuits filed by Native American Tribes against fossil fuel entities will remain under state jurisdiction, following a federal judge’s ruling.
• Market participants in California continue adjusting their positions in carbon credit allowances, with some trending towards net short positions.
• Oregon’s environmental authority proposed clean truck regulations, focusing on adjusting timelines for low emissions compliance.

Voluntary Market Insights

Global carbon markets have long utilized the GWP100 metric; however, critics suggest its inadequacies in addressing short-lived pollutants. Meanwhile, a carbon finance firm’s CEO is stepping down due to financial strains. In innovative developments, basalt dust usage on forests potentially triples carbon capture beyond its benefits on croplands alone. Farmers face risks when engaging with voluntary carbon markets that could compromise their rights over generated CO2 credits. Furthermore, there is a push for voluntary carbon registries to adopt blockchain to scale the market efficiently.

Biodiversity Initiatives

A public consultation has commenced on a novel water credit standard by BioCarbon, targeting sustainable water resource management. International delegates are defending their positions against regulatory pressures from deep-sea mining interests. The nature tech map exhibits gaps in current biodiversity data management and technology access hurdles for local communities. An essential aspect of the biochar market, offtake agreements are now transforming it by securing supply lines, stabilizing prices, and enhancing financial certainty.

Emerging Concerns and Developments

• Island nations raise alarms over an EU-backed proposal concerning emissions trading, fearing geopolitical and economic repercussions.
• The deadline for feedback on the Article 6.4 mechanism registry is extended, urging experts to come forward with their insights.
• Australia’s opposition leader plans to retract the nation’s upcoming UN climate meeting bid if electoral victories are secured.
• The European Commission has executed procedures for the authorisation of declarants within the CBAM framework.