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A California senate committee this week approved a bill that would mandate some contractors in the state to disclose their Scope 1–3 emissions beginning 2027.

The fourth quarter 2024 credit and deficit generation report of California’s Low Carbon Fuel Standard (LCFS) hit records across several metrics – total credits generated, the highest quarterly net credit gain, and the cumulative credit surplus bank - as the market awaits finalisation of changes to tighten the programme.

Massive power cuts brought parts of Spain, Portugal and France to a standstill this week.

A public-private forest finance initiative is preparing to roll out its first advance payments to forest governments, it confirmed Thursday.

Analysts generally maintained a bearish near-term outlook for UK Allowance prices due to ongoing oversupply and policy uncertainty, as focus now turns to a May summit between Britain and the EU at which linking the two markets is expected to be discussed.

Europe’s carbon market is starting to emerge from a period of low hedging demand and increased allowance supply that could signal the start of an extended bull run, according to a veteran analyst, who says the first signs of supply tightness are about to emerge.

A US-based exchange-traded product representing physical EU Allowances is set to debut on May 13 - the first new investment vehicle for carbon permits after a number of exchange-traded funds closed in the past year - offering not just an investment opportunity, but also hedging possibilities for compliance entities and exporters to Europe, according to its founder.

Australia shipped 57m tonnes of coal for burning in overseas power plants between October and December last year, the most recorded for a three-month period

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Labor and the Coalition have been accused of going to the election on a “unity ticket” ignoring Australia’s main contribution to the climate crisis after a report revealed thermal coal exports reached record levels in the final quarter last year.

Government data shows the country shipped a record amount – 57m tonnes – of coal for burning in overseas power plants between October and December. It is the highest recorded for a three-month period.

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Recent indications that more EU countries may use Article 6 credits towards climate goals could incentivise host countries to approve a greater volume of transitioning Clean Development Mechanism (CDM) projects than they would otherwise have done, according to an NGO.

A breakthrough in the remote Gobi desert sands could finally catapult thorium to the front of the race to find the fuel of the future that weans the world off gas and coal dependency.

Colombia-based voluntary carbon standard Cercarbono is set to introduce a new methodology for vehicle end-of-life and is developing another for blue carbon, while simultaneously aligning its programmes with Article 6 of the Paris Agreement and the Integrity Council for the Voluntary Carbon Market (ICVCM) policies.

Commercial banks in Africa and Latin America are trailing behind their Asian counterparts in action to address nature loss, WWF said on Wednesday.

I support the Climate Paradox report from the Tony Blair Institute, but his foreword risks compromising what must be achieved

• David King was chief scientific adviser to the UK government under Tony Blair, and is founder and chair of the global Climate Crisis Advisory Group

I have always been proud of the progress the UK made between 2003 and 2007 in formulating a credible response to the climate change. Under Tony Blair’s leadership, the UK placed climate at the heart of global diplomacy. At the time, our understanding was based largely on scientific projections and models. Today, the crisis is in full view – faster and more devastating than many imagined. The world is now experiencing the daily impacts of climate breakdown, and our responses must reflect this escalating emergency. We need measured, strategic, sustained and, above all, urgent interventions to ensure a manageable future for humanity.

That is why I support much of the thrust of The Climate Paradox report from the Tony Blair Institute. It rightly recognised that the era of endless summits and slogans must give way to one of delivery and impact. But the comments I gave were prior to seeing the foreword, and while there has been some clear misinterpretation from elements of the media, I do believe it has removed the balance of the report in ways that risk undermining what still can – and must – be achieved.

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The Kenyan government has set a goal to reduce greenhouse gas emissions 35% by 2035, compared to a business-as-usual scenario, according to its updated Nationally Determined Contribution (NDC) to the Paris Agreement.

A carbon insurer is the first to be approved by Lloyd's to underwrite carbon projects at the earliest stages of their development, claiming to be the only insurer able to cover projects before activity starts.

Most countries have no fossil fuel reserves, but no country in the world is without renewable energy resources. For a country such as Iceland, the world leader in renewables, this statement is clear to see. The island nation has made good use of its volcanoes and glaciers, which help provide 100% of its electricity and almost all its heat energy. But what about other countries that don't have Iceland's unique geology to rely on. Josh Toussaint-Strauss finds out how the world has managed to reach the impressive milestone of more than 40% of global electricity demand coming from clean power sources, and how other countries such as the UK are making this energy transition happen, despite a distinct lack of volcanoes

• Clean energy powered 40% of global electricity in 2024, report finds

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EUA prices rose for a second day in very light trading as many continental participants were absent for a public holiday, with buyers much more in evidence, while natural gas prices slipped back towards a long-term low amid slack demand.

Exclusive: Britain is key financial hub for destructive fossil fuel mega-projects, according to research

Banks in the City of London have poured more than $100bn (£75bn) into companies developing “carbon bombs” – huge oil, gas and coal projects that would drive the climate past internationally agreed temperature limits with catastrophic global consequences – according to a study.

Nine London-based banks, including HSBC, NatWest, Barclays and Lloyds are involved in financing companies responsible for at least 117 carbon bomb projects in 28 countries between 2016 – the year after the landmark Paris agreement was signed – and 2023, according to the study.

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France's TotalEnergies and Oman's OQ Exploration and Production have broke ground on a new liquefied natural gas (LNG) plant in Oman, which they claim will be among the lowest-emitting in the world thanks to an accompanying solar energy farm.