Sustainability and carbon market news

Businesses are earning measurable financial returns from acting on environmental risk, according to a new report from CDP, the non-profit that runs the world's largest environmental disclosure system. Its second annual report, The Disclosure...

The Greenhouse Gas Protocol (GHGP) and the International Organization for Standardization (ISO) will combine their carbon accounting standards into a single approach for companies to account for their emissions. Professionals analysing corporate...

Spot prices for CORSIA-eligible credits jumped within days, as policymakers eased planned quality rules for the scheme’s first compliance phase and extended its role in international aviation policy through to 2035. The moves reverse months of...

The carbon market is being reshaped by a clear shift towards quality. Buyers are paying more for higher-integrity credits, the standards behind those credits are tightening, and new sources of demand are opening as corporate and compliance...

Google has reaffirmed its 2030 net-zero target, while admitting in the same report that artificial intelligence (AI) is making the path to that target "more complex and challenging than ever". Aerial view of a Google data center powered by nearby...

The Science Based Targets initiative (SBTi) expects a significant rise in demand for carbon credits, following the launch of an updated Corporate Net-Zero Standard. SBTi chief executive David Kennedy said companies that help fund carbon market...

Corporate climate commitments among the world’s largest companies have tripled since 2019, with nearly three-quarters of Fortune Global 500 (FG500) companies now holding at least one sustainability target, according to new research. Company managers...

The International Organization for Standardization (ISO) has launched a 12-week public consultation on ISO 14060—the Net Zero Aligned Organizations Standard. The draft is the world’s first international, independently verifiable standard designed to...

The Science Based Targets initiative (SBTi) has published its Corporate Net-Zero Standard Version 2.0 (CNZS2), the most comprehensive update to its corporate net-zero framework to date. The standard formally recognises the use of carbon credits,...

The Science-Based Targets Initiative (SBTi) will release guidance on the use of carbon credits and market mechanisms by the end of 2026's follow-on year, as part of a newly published strategy covering the 2026–2030 period. A man reviewing ESG data...

TotalEnergies recorded its highest first-quarter carbon credit expenditure since entering the market in 2021, spending $28 million in the first three months of 2026, according to the French energy company's Q1 earnings report. A family in rural...

The Science Based Targets initiative (SBTi) has revised the Absolute Contraction Approach (ACA), the methodology companies use to calculate near-term emissions reduction targets. The update brings the method into line with the direction proposed for...

The Council of the European Union has formally approved an amendment to the EU environmental law, setting a legally binding target to reduce net greenhouse gas (GHG) emissions by 90% by 2040 against 1990 levels. The decision marks the final...

Mercedes AMG Petronas F1 Team has announced a partnership with a UK-based carbon dioxide removal (CDR) portfolio manager, to broaden its CDR activities as part of a broader net-zero strategy. Mercedes AMG Petronas F1 Team with their car on the...

Germany’s ability to meet its legally binding net-zero target by 2045 will depend heavily on how quickly and decisively it scales up carbon dioxide removal (CDR), according to a new analysis by Carbon Gap and engineering consultancy Sweco. Under...

The latest edition of Accenture’s Destination Net Zero study shows that momentum toward value-chain decarbonisation is picking up again among the world’s largest companies. After a stall in 2024, new net zero targets are rising across...

The Science Based Targets initiative (SBTi) has unveiled the second draft of its revised Corporate Net-Zero Standard (CNZS), introducing a new framework that could reshape how companies account for ongoing emissions. The draft, known as CNZS V2, is...

Australia has unveiled its updated environmental target under the Paris Agreement, committing to cut greenhouse gas emissions by 62%–70% from 2005 levels by 2035. The new pledge builds on its 43% reduction target for 2030 and highlights the role of...

Corporate environmental ambition is rapidly intensifying worldwide, with the number of companies committing to both near-term and net-zero science-based targets more than tripling in just 18 months. According to the Science-Based Targets initiative...

The Science Based Targets initiative (SBTi) has unveiled its much-anticipated Financial Institutions Net-Zero Standard, a new framework designed to help the finance sector align with the global transition to a net-zero economy. This marks the first...

The Science Based Targets initiative (SBTi) is intensifying efforts to finalise the much-anticipated update to its Corporate Net-Zero Standard (CNZS 2.0)—a major framework overhaul expected to shape global environmental initiatives—scheduled for...

The Science Based Targets initiative (SBTi) has issued a fresh set of guidelines to support companies revisiting their science-based emissions targets, a key requirement under the initiative’s Corporate Net-Zero Standard (CNZS). The move comes as...

Meta, the tech company behind Facebook, Instagram, and WhatsApp, has opened its 2025 Request for Proposals (RfP) as part of its ongoing mission to reach net-zero greenhouse gas (GHG) emissions across its value chain by 2030. Two businessmen are...

Radisson Hotel Group has announced the debut of its first two Verified Net Zero hotels, setting a new benchmark for sustainable hospitality. Located in Manchester and Oslo, these properties have been verified by TÜV Rheinland to meet the Net Zero...

Despite mixed signals in public discourse, a new PwC report reveals that most companies are staying the course—or even accelerating—on their decarbonisation targets. According to The 2025 State of Decarbonization, based on data from CDP and other...

The Science Based Targets initiative (SBTi) has released a draft revision of its Corporate Net-Zero Standard, marking a pivotal moment for corporate environmental strategy and the carbon removal sector. The draft—Corporate Net-Zero Standard Version...

BMW Group has taken its first steps into biochar-based carbon removal, retiring 25,000 tonnes of CO2 (tCO2e) credits last year as part of its broader environmental strategy. The German automaker aims to offset up to 10% of its emissions by 2050...

TikTok is making a major move toward sustainability, committing to remove 5,100 tonnes of CO₂ from the atmosphere by 2030. This bold initiative reflects a growing recognition of the platform’s environmental footprint, as its global video-streaming...

Singapore has strengthened its emissions reduction targets, pledging to cut greenhouse gas emissions by 17% to 25% between 2030 and 2035. This update, submitted to the United Nations on 10 February, refines the country’s Nationally Determined...

The Mercedes-AMG Petronas Formula One (F1) team has invested in forest-based carbon removal (CDR) projects through a new collaboration announced on 13 February. The partnership will support large-scale reforestation efforts in the Southeastern...

Google has significantly expanded its commitment to carbon dioxide removals (CDRs), securing nearly 800,000 tonnes of CO2 removals (tCO2e) to date. The company, which has been actively involved in both direct purchases and buyers' coalitions, has...

Ferrari is accelerating its commitment to sustainability while delivering a record-breaking financial year in 2024. The luxury automaker reported €6.68 billion in revenue, an 11.8% increase, driven by innovation, customisation demand, and strategic...

Lego is advancing its sustainability strategy with a $2.63 million investment in carbon removal, backing projects that actively remove CO2 from the atmosphere. This commitment reinforces the company’s long-term goal of reducing its environmental...

The European Commission’s 2024 NextGenerationEU (NGEU) Green Bonds Allocation and Impact Report sheds light on how green bond proceeds are transforming Europe’s environmental ambitions into action. With an estimated 55 million tonnes of CO₂...

Delegates from nearly 200 countries are gathering in Baku for COP29, an 11-day environmental summit. This year’s talks, often called the ‘finance COP’, centre on setting ambitious climate finance targets. Wealthy countries are expected to commit...

The International Carbon Registry (ICR) has announced significant updates to its carbon standards, aiming to better align with the Carbon Offsetting and Reduction Scheme for International Aviation’s (CORSIA) offset scheme and the International...

British Airways has committed over £9 million ($12 million) to carbon removal credits as part of its strategy to reach net-zero emissions by 2050. This move strengthens the airline’s position as the UK’s largest carbon removal purchaser, marking a...

The Science Based Targets initiative (SBTi) has broadened the revision of its Corporate Net-Zero Standard, aiming to refine its guidelines on neutralisation and make minor adjustments to its approach. The Corporate Net-Zero Standard, first...

The sixth annual report on the environmental progress of the Fortune Global 500 reveals a significant increase in nature commitments among the world's largest companies. Despite external pressures and rising scrutiny, these companies are forging...

US timberland investment trust Rayonier is broadening its focus on carbon offset projects, evaluating initiatives in both the US and New Zealand. The company, which owns 2.7 million acres of timberland, is involved in improved forest management and...

Lucas Di Grassi, a well-known figure in the world of motorsport, is driving more than just high-speed cars—he’s leading a charge towards sustainability. As a co-founder of the Zero Summit, a platform dedicated to promoting zero-carbon technologies,...

The Science Based Targets initiative (SBTi) has released four technical publications as part of the early stages of revising its Corporate Net-Zero Standard. This move is aimed at ensuring the Standard remains aligned with the latest scientific...

Stripe's initial $1 million investment in carbon removal in 2020 has evolved into a $1 billion initiative. The fintech giant, which facilitated $1 trillion in transactions in 2023, has rallied approximately 300 companies to pledge substantial funds...

The Institute for Environmental Management & Assessment (IEMA) has endorsed the Climate Change Committee's (CCC) latest report, urging the new Government to focus on 10 priorities to achieve the UK's net-zero target. Top view of young tree seedlings...

Efforts are currently underway to create the International Organization for Standardization's (ISO) first global standard for achieving net zero. This new standard aims to clarify the path to net zero, establish stringent requirements, and...

Microsoft has made a significant move to bolster its carbon neutrality efforts by acquiring over 970,000 nature-based carbon removal credits from Anew Climate, LLC. This agreement underscores Microsoft's commitment to combatting environmental...

Airlines are set to invest $600 million in carbon offset credits in 2024, according to the International Air Transport Association (IATA). This move aligns with the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA), a UN-led...

In 2016, the UN's International Civil Aviation Organisation (ICAO) introduced CORSIA, the first global offsetting scheme for the private sector, aimed at promoting low-carbon growth in aviation. The Carbon Offsetting and Reduction Scheme for...

The National Agency for Science and Engineering Infrastructure (NASENI) in Nigeria has announced its first-ever investment in Powerstove, a pioneering Nigerian company specialising in eco-friendly cookstoves and carbon credit projects. Picture of a...

Canada has taken a bold step in its environmental commitment by earmarking $135 million for carbon removal technologies in its 2024 budget. The update, which was subtly noted in a footnote of the federal budget document, marks a significant...

The International Emissions Trading Association (IETA) has recently unveiled comprehensive new guidelines aimed at assisting businesses in leveraging carbon credits to achieve the Paris Agreement’s climate objectives. Revealed during IETA’s annual...

Singapore is gearing up to host the impactful Ecosperity 2024 Conference this April, aimed at fostering discussions around nature conservation and the advancement of carbon markets. From 15–17 April, this prominent event will assemble a diverse...

India is set to significantly increase its financial commitment to green initiatives in the coming fiscal year. A senior official revealed an impressive 44% rise in the budget for eco-friendly projects and schemes, utilising the proceeds from...

The Jamaica Stock Exchange (JSE) is set to introduce innovative 'blue-green' bond products by mid-2024. This initiative is part of Jamaica's broader strategy to invest $5 billion by 2050, aimed at mitigating the impacts of environmental instability....

The European Union (EU) officially embraced the much-anticipated Regulation 2023/2632 on European Green Bonds (Regulation). This regulatory framework outlines the criteria for bond issuers seeking to designate their environmentally sustainable bonds...

In a historic move, Greenland, through its parliament, Inatsisartut, has committed to joining the Paris Agreement. The decision reflects a collective effort to address growing environmental concerns. The international treaty aims to limit the global...

Microsoft has recently finalised a 15-year agreement to procure 362,000 carbon removal credits as part of its broader commitment to achieving carbon negativity by 2030. The deal is set to support an expansive afforestation project spread across...

London-based emerging markets investment management firm Spinnaker Capital has taken a significant stride into the realm of environmental initiatives. In a strategic move announced last year, the company invested in carbon finance innovator Respira...

In a strategic alliance, Sylvera, a leading carbon data provider, has joined forces with the Singapore Government to ensure the availability of high-quality carbon credits, aligning with the Paris Agreement. Concurrently, Sylvera has inaugurated an...

In a groundbreaking announcement at the Saudi Green Initiative (SGI) Forum during COP28, Princess Haifa Bint Muhammad, the Saudi Vice Minister of Tourism, unveiled plans for Riyadh's metamorphosis into one of the most sustainable cities by 2030. The...

Madagascar has secured $8.8 million in carbon credits, marking a pivotal moment as the third African nation (following Mozambique and Ghana) compensated by the World Bank under the REDD+ program for slashing 1.76 million tonnes of carbon emissions...

Lufthansa Group has unveiled a groundbreaking commitment to environmental sustainability by announcing its intention to procure 40,000 tonnes of carbon removal credits from the Airbus Carbon Capture Offer (ACCO) service. View from a plane of...

Microsoft is set to acquire a substantial 1.5 million carbon removal credits to restore deforested land in the Amazon. This colossal deal signifies Microsoft's most ambitious venture to date in the realm of nature-based carbon credits, highlighting...

Pachama has successfully concluded its Series B funding round extension, securing an additional $9 million, marking a significant step forward in advancing sustainability initiatives. The extension, spearheaded by T.Capital, the corporate venture...

In the face of environmental challenges, the upcoming UN Climate Conference in Dubai spotlights the need for accelerated global action. The State of Climate Action 2023 report, a collaborative effort of influential organisations, offers a...

In a pivotal move, China's Ministry of Ecology and Environment (MEE) has issued comprehensive guidelines, marking the renaissance of the domestic voluntary carbon market (VCM). The focal point of this resurgence is the revival of the China Certified...

Dubai is set to introduce a groundbreaking carbon credit mechanism at the upcoming UN Climate Change Conference, with the Dubai Financial Market (DFM) unveiling plans for a trial platform during COP28. The initiative aims to support businesses,...

Asian Development Bank's environmental envoy, Warren Evans, advocates for a rise in the average price of carbon offsets to range from $25–$35 per tonne. This move is seen as crucial to stimulate greater environmental action among investors and...

Paraguay, under President Santiago Peña's recent approval of the Carbon Credits Act on 12 October 2023, is setting a precedent in Latin America with the establishment of a comprehensive Registry. This Registry, a key component of the Act, will...

The total value of major compliance carbon markets is projected to surpass $800 billion this year, demonstrating a 5% growth, as shown by a recent report by BloombergNEF. This surge is attributed to the upswing in allowance prices driven by reforms...

Singapore-based company KinRoss is teaming up with its Mongolian partner, Clean BotanEco, to address the severe soil degradation issues in Mongolia, where deforestation and intensive agriculture have left nearly 80% of the land resembling deserts....

Companies participating in the voluntary carbon market (VCM) are increasingly being recognised as leaders in the global effort to conserve nature. A recently published study by Forest Trends' Ecosystem Marketplace sheds light on how these companies...

On the road to achieving net zero, Microsoft has embarked on a strategic partnership aimed at acquiring carbon removal credits from the groundbreaking Waverly Biochar project, nestled in the heart of Waverly, Virginia. This pioneering endeavour...

Philip Lee LLP, the law firm representing DGB Group, has secured the prestigious title of Best Law Firm 2023 in the voluntary carbon market, according to a recent announcement by the renowned international publication Environmental Finance. As...

Apple has taken a significant step towards its ambitious 2030 climate goal by introducing its first-ever carbon-neutral product in the latest Apple Watch lineup. Through innovations in design and clean energy, the emissions from each carbon-neutral...

In a landmark development, corporate engagement in climate action reached new heights in 2022, as the Science Based Targets initiative (SBTi) unveiled a remarkable 87% upswing in the number of companies aligning with science-based targets. The...

While the financial world shifts its gears towards net-zero targets, a fresh report from non-profit CDP reveals a potential pitfall: the oversight of nature-related dependencies. The financial sector's commendable 95% commitment to tackling climate...

Ripple (XRP), a leading blockchain company, has made a groundbreaking move by investing $100 million in carbon markets. This strategic investment aims to accelerate carbon removal activities and modernise carbon markets through innovative...

Isometric, a carbon removal registry and science platform, has unveiled groundbreaking data showcasing previously unseen carbon removal activity from various companies. This includes Charm Industrial, Eion, Planetary, and Brilliant Planet. Recently,...

The Integrity Council for the Voluntary Carbon Market (ICVCM) has unveiled its Core Carbon Principles (CCPs) and Program-level Assessment Framework to set stringent standards for high-integrity carbon credits. Developed with input from various...

Despite the challenges in safeguarding natural forests, Cambodia's Ministry of Environment remains confident in its ability to sell carbon credits for socio-economic development. During a recent training session on climate change and REDD+ (Reducing...

ASUS, a global technology leader, has unveiled a groundbreaking solution at Computex 2023. ASUS Carbon Partner Services is an end-to-end offering designed to provide business customers with carbon-offset options that are high-quality, accountable,...

The Swedish fintech company Klarna has revealed its latest climate commitment, pledging $2.35 million to support more than 20 carbon removal organisations this year. The funds for this contribution come from Klarna's internal carbon tax income,...

Aviva, the United Kingdom's largest insurance company, is setting a remarkable example with its unwavering commitment to environmental preservation and sustainability. As the urgency to address global climatic issues and biodiversity loss...

The Australian government announced plans to create a new Net Zero Authority to support communities, workers, and industries in transitioning to a clean-energy economy. The authority will work towards ensuring that traditional industries and...

A new report by the US Department of Energy (DOE) revealed that the United States must capture and permanently store between 400 million and 1,800 million tonnes of carbon dioxide (CO2) annually to achieve its net-zero goals by 2050. The report...

A global coalition of investors, including Canada’s Desjardins, Fondaction, Manulife, and Vancity, released a report highlighting the impact of some of the world's largest companies on biodiversity. The pilot study of the MSCI World Index was...

NASCAR's new impact platform, NASCAR IMPACT, aims to reduce the organisation's carbon footprint to zero by 2035. The long-term carbon emissions goal marks a new era in sustainability for America's top motorsport and follows the completion of the...

Mongolia's largest commercial bank, Khan Bank, announced the issuance of the country's first green bond, according to a statement from the bank and the International Finance Corporation (IFC). The $60 million bond, with a term of five years, will be...

A new report released by Masdar (the host of the Abu Dhabi Sustainable Week) has called for increased financing to support decarbonisation efforts in hard-to-abate industries. These industries include cement, steel, aluminium, petrochemicals,...

The European Union (EU) has agreed on comprehensive guidelines for issuing green bonds to meet the bloc's net-zero targets. Compliance will be voluntary. EU member states and the European Parliament have jointly established a standard for businesses...

Citibank has announced its targets to reduce emissions linked to loans for coal mining, steel, auto, and real estate clients by 2030. The bank aims to cut 90% of thermal coal mining emissions, 31% of emissions for auto manufacturing, and 41% for...

Abu Dhabi National Oil Company (ADNOC) is investing $15 billion in various low-carbon projects to reduce emissions and meet decarbonisation goals. The UAE-based oil and gas company plans to allocate the funds across its diversified value chain by...

Funga is a fast-growing carbon removal company that uses forest fungi to capture carbon. The Texas-based company raised $4 million in seed funding to bring its technology out of the lab and into the forests. The funding round was led by Azolla...

Alternative asset manager TPG Rise Climate-backed carbon credit firm Rubicon Carbon announced it would raise $1 billion in capital and be run as a separate entity. The company seeks to source and fund projects that remove carbon and sell the credits...

It’s safe to say that Coldplay is dead serious about reaching their low-carbon and sustainable goals after the band launched their special Music Of The Spheres World Tour App. The app is undoubtedly praised by Coldplay’s eco-conscious fanbase, which...

Eight of the world’s biggest insurance and reinsurance companies formed an alliance to aid in accelerating the shift to a net-zero emissions economy. The aim of the Net-Zero Insurance Alliance (NZIA) is to transition insurance and reinsurance...

Land Life Company’s mission is to restore the world’s degraded land, which is equivalent to two billion hectares. With this aim in mind, the company engages in numerous projects in various geographies with different types of degradation. The...