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Brazil's Zeg launches REDD+ project

  • Market: Emissions
  • 24/02/25

Brazilian biogas firm Zeg launched a new business division that will invest in reforestation in the Rio Branco valley, in northern Roraima state.

The new unit, dubbed Zeg Florestal, will protect 14,000 hectares (ha) of the Amazon to keep it from being converted to cattle ranching and soybean planting.

The state issued a decree in 2022 which reduced the legal reserve requirements on rural properties to 50pc from 80pc, clearing the way for property owners to legally deforest a larger share of their land holdings.

The project is the first in Roraima state to use the REDD+ framework, which aims to preserve standing forests and reduce emissions from deforestation. The project also focuses on biodiversity preservation and promotion of the bioeconomy, which includes the sale of sustainable products from the forest to help create jobs for area communities.

The project will use global certification agency Verra's Verified Carbon Standard (VCS) and Climate, Community and Biodiversity (CCB) standards. The company estimates that the project will avoid a combined 4mn metric tonnes of CO2 emissions in 2025 and 2026.

The project comes amid rising concerns about the legitimacy of carbon offsets from REDD+ projects, following a federal police investigation in June last year that exposed fraud for a project in Amazonas state. The large-scale corruption scheme involved around R180mn ($31.6mn) in carbon offsets that were generated from roughly 500,000ha of illegally occupied lands in the state. The police investigation also uncovered illegal deforestation and cattle ranching on land that was supposedly being preserved.

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04/06/26

EU finance ministers eye agreement on CBAM changes

EU finance ministers eye agreement on CBAM changes

Brussels, 4 June (Argus) — EU finance ministers are seeking agreement on their position for legal changes to the bloc's carbon border adjustment mechanism (CBAM), extending the scope to more downstream products and adding anti-circumvention measures. Final tweaks and clarifications specify the European Commission's power to suspend CBAM for problematic sectors. The text drawn up for finance ministers, who meet on 12 June, takes account of a majority that has spoken out against giving the commission broad empowerment to temporarily remove specific goods from CBAM under a new article 27a. Diplomats noted the risks of "jeopardising" the effectiveness of CBAM and the "imprecise" scope of the powers. To bridge differences, Cyprus, chairing discussions between diplomats, has built on a previous draft to specify the conditions that the commission could use to trigger CBAM suspension. This includes average non-CBAM-related import price increases of more than 50pc compared with average prices for the same CBAM goods over the previous 10 years. Price increases would need to be sustained over a period of at least six months. If finance ministers agree on the text on 12 June, EU states would be ready for negotiations over a final legal draft with the European Parliament after summer. Cypriot diplomats suggested article 27a remains in the European Council's draft position as a "good basis" for the talks. During a first discussion, members of parliament's environment committee broadly supported deleting the new article 27a. But some members have called for partial or full CBAM suspension . The committee is expected to vote on the issue on 6 July, followed by the whole parliament in early September. Discussions on CBAM's suspension have continued following the commission's adoption last month of a fertilizer action plan, including measures such as financial relief for farmers, and assessing stockpiling options for key fertilizers and inputs. By Dafydd ab Iago Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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EIB, UN GCF team to spur private finance for climate

04/06/26
News
04/06/26

EIB, UN GCF team to spur private finance for climate

London, 4 June (Argus) — The UN Green Climate Fund (GCF) will invest €200mn ($233mn) in an initiative backed by the European Investment Bank (EIB), to mobilise private capital "at scale" for climate finance in developing countries. The GCF will invest in the EU's Global Green Bond Initiative, which aims to marshal private capital for climate finance, as well as provide technical assistance and cut borrowing costs for emerging economies. The initiative's fund, run by European asset manager Amundi, has a target size of €3bn and plans to mobilise up to €20bn in private finance for sustainable infrastructure projects in developing countries. The GCF investment "will de-risk investments in 10 emerging economies. This equity will stimulate country-led green projects that deliver climate solutions in critical sectors such as energy and transport", GCF chief investment officer Amer Baig said. The GCF operates under the financial mechanism of UN climate body the UNFCCC. It is the world's largest climate fund and was originally capitalised with $10.3bn in 2015. The EIB is the EU's lending arm and is owned by EU member states. It is classed as a multilateral development bank (MDB). Governments and campaigners have shifted their focus to MDBs and the private sector to deliver climate finance, as several key donors of international development aid have scaled back or announced cuts to funding in the last 18 months, which is likely to affect projects tackling climate change in developing nations. By Georgia Gratton Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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India's Equilibrium inks biochar credit offtake deal

04/06/26
News
04/06/26

India's Equilibrium inks biochar credit offtake deal

Mumbai, 4 June (Argus) — India-based carbon removal developer Equilibrium has signed a multi-year offtake deal with Swiss financier Altitude for 180,000 biochar-based CO2 removal (CDR) credits, the company said today. The agreement creates a long-term commercial framework to finance Equilibrium's industrial biochar facilities in India, providing predictable revenue streams and accelerating large-scale infrastructure development, the firm said, without disclosing the exact length of the deal. Equilibrium currently operates two scalable industrial-scale biochar facilities in India registered across carbon registries Isometric and Puro.earth. The facilities have a combined CDR capacity exceeding 15,000t of CO2 equivalent/yr. The deal expands Altitude's growing global portfolio of biochar-based CDR investments across India , Africa and Latin America , which has exceeded 900,000 credits so far this year. By Shribalaji Shenbagaraj Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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Policy fragmentation key barrier for Corsia: Airlines

02/06/26
News
02/06/26

Policy fragmentation key barrier for Corsia: Airlines

Montreal, 2 June (Argus) — Policy fragmentation is the primary obstacle keeping airlines from taking firm positions in the market for credits compliant with the Carbon Offsetting and Reduction Scheme for International Aviation (Corsia), carriers told Argus on Tuesday on the sidelines of the International Civil Aviation Organization (Icao)'s climate week in Montreal. Experts across the board emphasized that Icao should persist with the implementation of Corsia's first phase as a global market-based mechanism, as uncertainty looms over the European Commission's revision of the scheme next month. "Corsia is a phenomenal start. It needs some tweaking, but let's keep going with it," British Airways director of sustainability Carrie Harris said. And Airbus vice president of regulatory and external engagement Bertrand de Lacome urged Icao to strengthen Corsia. "Icao should remain the global standard for policy, to avoid the fragmentation that creates such a burden to our industry," Boeing vice president of sustainability Allison Melia told delegates. But in practice, Corsia has faced challenges when implemented at the national level, Singapore SAFco's chief executive Seow Hui Tan said, noting "the devil is in the details at a national level". Only a handful of the 130 countries that have opted to comply with Corsia Phase 1 have implemented penalties for non-compliance in their national legislation. In Japan, for example, where the law would require airlines to withdraw their operating licenses in the event of non-compliance with Corsia, the penalty has successfully driven airlines to the market. Japanese airlines are also leading on Corsia credit retirements, even though the combined total of retired volumes remains small. Regardless of penalties having been adopted or not, some airlines still have a strong incentive to comply because this would help with their image and coordination with other decarbonization policies such as increasing the use of sustainable aviation fuels. Airlines repeatedly brought up uncertainty around regional policies — particularly the EU's upcoming revision of the scheme — as a primary concern holding them back from entering the market, when talking to Argus on the sidelines of the event. Many said it is likely that the European Commission will advise that the Corsia scheme is not sufficient to meet the Paris Agreement goals and has not strengthened. But they are split on the possible outcomes to the revision, with some arguing that the commission can only express its opinion, while it is down to national member states to decide whether they continue to implement Corsia. The EU's threat to expand the coverage of its emissions trading system to international aviation emissions — within any scope it may take — has stifled confidence among airlines around the world. One large Middle Eastern carrier is closely watching proceedings in Brussels amid expectations that the decision will have an impact around the world, Argus understands. Noting that this was a bigger concern for them than the temporary challenges from the US-Iran war, the airline is waiting until after the EU ETS review is published later this year to enter the market and hopes to purchase credits by the end of the year, a source told Argus . An intermediary working with airlines in Asia also said many carriers were waiting until the end of the year or the first quarter of 2027 to begin purchasing credits. As the jet fuel crisis is easing, airlines' main concerns will be alleviated once the EU sends clear policy signals in July, they said. Airlines are also looking for more diversified supply to come to the market, an end user said. Currently, the choice between mostly jurisdictional reducing emissions from deforestation (J-REDD+) credits and African clean cookstove units is too sparse and does not allow for flexibility, the end user added. At the same time, developers of Corsia-labeled projects are threatening to redirect efforts to different Article 6 framework markets if demand does not come to market soon for Corsia Phase 1. Many developers are small companies with little financial capability to hold positions for extended periods of time, and some are already trying to redirect credits to the wider voluntary carbon market for products labeled by the high-integrity Core Carbon Principles (CCP) tag. Demand for high-integrity carbon credits issued by highly-rated clean cookstove projects could push prices close to current Corsia levels, clean cookstove developer DelAgua's chief financial officer Rory McDougall said. Developers would have an incentive to switch to such markets if airline demand for Corsia Phase 1 credits continues to lag. By Alexandra Luca Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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Carbon removals gap for 1.5°C goal is growing: Report

02/06/26
News
02/06/26

Carbon removals gap for 1.5°C goal is growing: Report

Berlin, 2 June (Argus) — National pledges fall short of pathways limiting global warming to 1.5°C this century by more than 5bn t of CO2 removal (CDR)/yr by 2050, a report published today found. Authors of the third annual state of CDR report today flagged the "fragility" of the sector, given the small number of countries with dedicated CDR policies, and of project developers and projects. The failure of a project, or policy changes, therefore risk slowing progress globally, report author Morgan Edwards from the University of Wisconsin-Madison said. The gap between what countries have pledged in their climate plans under the Paris Agreement — nationally determined contributions (NDCs) — and what will be necessary is likely to grow "significantly" over the years, report author William Lamb of the Potsdam Institute for Climate Impact Research said. Most countries' pledges rely on forests and land, Lamb said, with newer technologies playing only a small role. Delays in cutting emissions would make this gap even larger, Lamb warned. Countries have in total pledged around 2.7bn t of CDR by 2035 and about 3.6bn t by 2050, which would leave a shortfall of more than 5bn t in 2050, Lamb said. Closing this gap would require CDR to grow at rates comparable to, or faster than, solar power and electric vehicles, the report found. Cutting emissions remains the first and most important priority for tackling climate change, the authors emphasised, but CDR capacity is needed to address emissions that are hardest to eliminate. CDR is fundamental to return global warming to 1.5°C or below after an overshoot, report author Oliver Geden of the German Institute for International and Security Affairs said. The Paris climate agreement seeks to limit the global rise in temperature to below 2°C above the pre-industrial average and pursues a 1.5°C threshold. The report is "agnostic" and is not about "telling countries what to do", Geden said, but is more about raising demand and creating incentives. If a country has a net zero target, then its policies should reflect this, Geden said. There should be more robust demand for high-quality removals credits on the voluntary carbon market, report author Matthew Gidden of the University of Maryland said. Having more transparent and scientifically based monitoring, reporting and verification protocols would increase confidence in removal credits, Gidden said. More countries should "activate CDR in their NDCs" and in their climate policies in general, Juho Lipponen, co-ordinator of global initiatives the carbon capture, use and storage clean energy ministerial and the Mission Innovation for CDR said in reaction to the report. By Chloe Jardine Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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