NoviqTech has divested its core software platforms and intellectual property to Renaissance Infrastructure for $1 million, comprising an initial $200,000 upfront payment and $800,000 in quarterly instalments. This strategic move allows NoviqTech to focus exclusively on its Coralia biochar carbon removal operations, addressing previous capital constraints and operational fragmentation. The divestment reduces monthly overheads by over $100,000, enabling full capitalisation of Coralia’s Great Barrier Reef biochar project in North Queensland. NoviqTech has also secured an offtake agreement with Pure Data Centres Group for 70% of the project's certified biochar credits. This restructuring aims to accelerate biochar production and research into biochar-infused concrete with Swinburne University of Technology.
IndexBox projects the global biochar kiln market will grow at a compound annual growth rate of 14.5% through 2035, driven by corporate net-zero commitments and the circular economy. The market index is expected to reach 385 by 2035 from a 2025 baseline, reflecting a shift to industrial-scale biochar production. This growth addresses historical financial and operational bottlenecks, including high capital expenditure and supply chain inefficiencies. The industry is adopting advanced engineering, modular kiln designs, and diversified applications to overcome these challenges. Forward sales of biochar carbon removal credits, verified by bodies like Puro.earth and Verra, are providing predictable revenue streams to finance capital investment.
Isometric and Howden have launched an open Request for Proposals (RFP) to expand access to corresponding adjustment (CA) insurance for carbon removal suppliers. The initiative aims to integrate more carbon removal methods into the compliance pathways for the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA). This collaboration seeks to mitigate the administrative and political risks associated with securing corresponding adjustments under Article 6 of the Paris Agreement, which can delay or revoke host country authorisations. By inviting insurers to submit policies that cover host country default on CA obligations, the programme provides an insurance-backed compliance pathway. This framework is intended to reduce reliance on bilateral state approvals and increase the supply of CORSIA-eligible credits.
The California Air Resources Board (CARB) released draft rules for Senate Bill 905, expanding the state's carbon capture programme beyond conventional geologic storage to include methods like biochar, bio-oil, marine carbon removal, and enhanced weathering. This framework aims to provide legal certainty for carbon removal investors and developers, targeting approximately 100 million tonnes of carbon capture and removal credits annually by 2045. Environmental groups, led by the Sierra Club, oppose the draft, citing concerns over self-regulation by the oil and gas industry and the inclusion of enhanced oil recovery (EOR) projects. The Sierra Club has threatened litigation if EOR provisions remain, potentially delaying credit issuance from 2027 to 2028. If finalised, these rules would establish the broadest sub-national carbon capture regime in the US.
Microsoft Corporation signed a three-year carbon dioxide removal purchase agreement with Alt Carbon for 36,920 tonnes of credits. These credits will be generated from Alt Carbon's Darjeeling Revival Project in eastern India, marking Microsoft's first enhanced rock weathering transaction in Asia. The independent registry Isometric will verify and issue the credits. This deal addresses the challenge of scaling durable carbon removal methodologies in emerging agricultural economies and provides a blueprint for leveraging South Asian lands for corporate net-zero targets.
The Science Based Targets initiative (SBTi) released Version 2.0 of its Corporate Net-Zero Standard, providing more flexible guidelines for companies to integrate carbon removals into their net-zero strategies. The updated framework, developed through public consultations, aims to balance emissions reductions with practical corporate implementation challenges, moving away from a 'one-size-fits-all' approach. It clarifies how organisations can blend carbon removal solutions into long-term procurement agreements and formalises shared responsibility protocols for Scope 3 emissions. Industry leaders have praised the clarity provided for corporate investments in durable, scalable removals, though some market skepticism remains regarding the authority of voluntary bodies.
Research firm cKinetics reports that the global carbon dioxide removal (CDR) sector has attracted over USD 11.5 billion in committed capital, with contracted offtake volumes exceeding 114 million tonnes across 310 transactions, valued at over USD 15 billion. The report, '2026 State of the Sector: Investment in Carbon Dioxide Removal', notes a concentrated corporate buyer pool, with Microsoft dominating contracted volumes. While direct air capture has significant investment, biochar and soil carbon are driving near-term physical supply growth due to lower infrastructure demands. Biochar secured approximately 2.8 million tonnes of CO2 equivalent in contracted offtakes between June 2025 and March 2026, capturing nearly 42 percent of cumulative sector offtake volumes. The report projects global carbon removal capacity to reach 35 million to 63 million tonnes annually by 2030.
The California Air Resources Board (CARB) has opened public review for its draft rules on carbon capture, removal, utilisation, and storage technologies, as mandated by Senate Bill 905. Industry stakeholders, including carbon-removal companies and registries, are advocating for the inclusion of emerging methodologies like biochar, bio-oil, enhanced weathering, and marine carbon removal. Environmental groups oppose the framework, arguing it could subsidise risky infrastructure and prolong fossil fuel reliance. CARB is balancing industry demands for clear guidelines to secure investment against environmental concerns about potential pollution and extended industrial facility lifespans. The agency is currently synthesising stakeholder input to finalise the rulebook.
The durable carbon dioxide removal (CDR) market saw purchases grow at a 151% compound annual growth rate (CAGR) from 2021 to 2025, excluding volumes from Microsoft and Frontier, according to a CDR.fyi presentation. While Microsoft accounted for 78.5% of all disclosed durable CDR tonnes purchased by April 2026, its recent pause serves as a market stress test. Biomass Carbon Removal and Storage (BiCRS) methods, particularly BECCS and biochar, led near-term execution, accounting for 96% of purchase volume and 91% of delivered volume in 2025. The market is becoming more selective, with pricing increasingly method-specific and financing favouring credible suppliers. This indicates a shift towards rewarding execution and operational discipline as the market matures beyond its initial growth phase.
The third edition of 'The State of Carbon Dioxide Removal' report, presented at a climate economics conference in Italy, found that current global carbon dioxide removal (CDR) efforts account for only 5% of annual global emissions, totalling 2 million metric tons of technologically removed carbon. The report indicates a stagnation in research and investment, with high operational costs exceeding $200 per metric ton for many innovative pathways and a lack of standardised public funding. It attributes this to shifting political landscapes, geopolitical conflicts, and severe market contraction. The report advocates for a structural shift towards treating CDR as a public good, funded by state entities, to scale technological removal beyond its current marginal baseline. Analysts proposed this transition from voluntary corporate procurement to state-subscribed public purchasing models to secure the billions of euros needed for industrial scaling.
Microsoft signed a three-year agreement to purchase 36,920 metric tonnes of carbon dioxide removal credits from Indian startup Alt Carbon, to be delivered by 2029. This marks Microsoft's first enhanced rock weathering transaction in Asia, sourced from the Darjeeling Revival Project in eastern India. The contract includes provisions for additional volumes if Alt Carbon meets delivery and verification milestones. Alt Carbon will use crushed basalt across 80,000 acres of agricultural land in West Bengal, impacting over 35,000 farmers, with credits issued through the Isometric registry.
Carbon data provider Sylvera has partnered with Bloomberg to embed its carbon project ratings directly into the Bloomberg Terminal. This integration provides institutional investors and corporate buyers with project-level quality assessments alongside existing pricing and market data. The move aims to bring analytical rigour to carbon credits, similar to traditional asset classes, supporting due diligence for financial institutions and corporate buyers. Sylvera's CEO, Allister Furey, stated the integration signals a 'new phase of maturity' for carbon markets. Bloomberg's Bertrand Le Nézet noted the move reflects increasing institutional demand for transparency.
Microsoft has signed a three-year carbon dioxide removal (CDR) purchase agreement with Alt Carbon for 36,920 tonnes of CO2 removal from an Enhanced Rock Weathering (ERW) project in India. The credits will be delivered from Alt Carbon's Darjeeling Revival Project in eastern India and issued through Isometric. This marks Microsoft's first Asian ERW credit purchase, following recent discussions about its continued commitment to carbon removal solutions. Alt Carbon, which recently became the largest ERW company by issued volume, expects to issue an additional 15,000 credits by the end of 2026.
A proposed Carbon Capture and Storage Energy Attribute Certificate (CCS EAC) standard has extended its public comment period until 25 June. Spearheaded by The Cynthia & George Mitchell Foundation, the consultation seeks feedback from energy buyers, project developers, and market participants. This initiative aims to establish credible accounting for carbon capture, supporting investment and market participation in developing carbon management markets. The standard's development reflects growing interest in CCS projects and the need for transparent measurement as the sector expands.
The UN's Article 6.4 Supervisory Body approved the first carbon credits under the Paris Agreement Crediting Mechanism in February 2026, originating from a clean-cooking project in Myanmar. The project, run by South Korean NGO Climate Change Center (CCC), distributes efficient cookstoves to reduce wood use and smoke. A new report, however, highlights that the project operates in conflict-affected regions of Myanmar, with credits issued during the ongoing civil war that began in February 2021. The report criticises the project's partnership with Myanmar's Ministry of Natural Resources and Environmental Conservation (MONREC), which is controlled by the military junta and under EU sanctions. Critics argue that purchasing these credits supports a regime accused of war crimes and crimes against humanity.
Regreener has named five US carbon credit projects as leading options for corporate procurement in 2026, citing their independent verification, active issuance, and quality signals. The selected projects include CarbonCure CO2 Utilisation (VCS 4018), Graphyte's Loblolly Project (Isometric), Anew Tomah Highlands Forestry (ACR 617), AgriCapture Soil Enrichment (CAR 1513), and the Northern Great Plains Regenerative Grazing Project (VCS 1960). These projects span engineered removal, biomass carbon removal and storage, improved forest management, and soil carbon, offering portfolio diversity. Regreener emphasises that a registry ID is merely a starting point, with active issuance and independent quality signals being crucial for credible procurement decisions.
Societe Generale has committed €100 million (over $115 million) as an anchor investor in Ardian's Averrhoa NBS fund, an Article 9 impact fund. The banking group will also serve as financial advisor for the fund's structuring and deployment. Averrhoa NBS aims to invest in reforestation and wetland restoration projects with a goal of sequestering up to 85 million tonnes of carbon over 40 years. This partnership seeks to scale investment in nature-based solutions and establish them as a mainstream asset class.
Verra has operationalised Version 5 of its Verified Carbon Standard (VCS) Programme by releasing new templates and guidance documentation. This follows the initial launch of VCS Version 5 in December 2025. The new documentation includes standalone templates for ESG risk assessment, stakeholder engagement planning, and updated geolocation file requirements. Project proponents and validation/verification bodies can now use this framework for carbon dioxide removal activities. Projects starting before 1 January 2027 must use Version 5.0A templates, while those initiated on or after that date must use Version 5.0B.
A Fortune Global 500 company has purchased 1 million tonnes of CO2 removal credits from GreenTrees, the largest reforestation project in the US, via Climate Impact Partners. The deal is structured as a 'staggered spot' purchase, combining issued credits with newer vintages currently undergoing verification. GreenTrees' Mississippi Alluvial Valley (MAV) Reforestation Project is the first Afforestation, Reforestation and Revegetation (ARR) project to have issued tonnes approved under the Core Carbon Principles (CCPs). The MAV project has removed nearly 8 million tonnes of CO2 by planting over 50 million trees across 140,000 acres, engaging almost 600 landowners. This purchase aims to bridge the financial gap between verification and landowner payments, while reducing delivery risk for clients.
The Science Based Targets initiative (SBTi) released Version 2.0 of its Corporate Net-Zero Standard on 11 June 2026, offering a more flexible framework for companies to set climate targets. The updated standard maintains a focus on direct emissions reductions but introduces a mechanism for companies to address residual emissions through voluntary action, including carbon removals. This revision aims to support businesses in embedding net-zero strategies and enhances expectations for transparency and progress reporting. The SBTi stated the framework builds on over a decade of experience and seeks to accelerate corporate progress towards net-zero emissions by 2050 or earlier.
The Science Based Targets initiative (SBTi) released Version 2 of its Corporate Net Zero Standard on 11 June 2026, which incorporates market-based instruments and introduces an 'Ongoing Emission Responsibility' (OER) programme with three status levels: Engaged, Advanced, and Leadership. This new standard allows companies to use high-quality carbon credits to address ongoing emissions, a significant shift from previous guidance. The VCMI and IETA both welcomed the increased recognition of carbon credits, though VCMI noted the standard 'stops short of creating a meaningful incentive' for immediate investment. The standard also legitimises commodity certificates for addressing Scope 3 emissions, providing a mechanism for companies to make progress in hard-to-abate supply chains. From 2035, carbon removals become mandatory for large and higher-income country mid-sized companies, with required coverage rising linearly to 100% by their net-zero target year.
Danny Cullenward resigned from the Greenhouse Gas Protocol's Independent Standards Board, alleging the Protocol 'openly violating its own rules' by delegating forest carbon accounting standards to a 'secret, industry-led working group'. Cullenward, a Senior Fellow at the University of Pennsylvania's Kleinman Center, stated this on BlueSky and in his resignation letter. This follows criticisms in January 2024 regarding draft land sector guidelines that environmental groups and academics claimed would allow companies to label destructive products as 'carbon neutral'. The Protocol, run by the World Resources Institute and the World Business Council on Sustainable Development, published a land sector standard in January 2026 without specific forest carbon accounting guidance after its technical working group and Independent Standards Board failed to reach consensus.
Sylvera has partnered with Bloomberg to integrate its carbon project ratings directly into the Bloomberg Terminal. This collaboration provides institutional investors and corporations with access to independent quality assessments alongside pricing and market data for carbon credits. The integration aims to enhance market transparency and facilitate more informed decision-making for carbon credit procurement. This move reflects a maturing carbon market where quality and independent assessment are becoming essential for investor confidence.
Verra announced the full operationalisation of its Verified Carbon Standard (VCS) Version 5 on 9 June 2026, with the release of updated templates and guidance documents. This update allows all project proponents to begin using VCS Version 5, which was initially launched in December 2025. The new release includes standalone templates for stakeholder engagement plans and ESG risk assessments, alongside comprehensive guidance on right to operate, sustainable development, stakeholder engagement, and safeguards. These changes aim to improve usability and accessibility for project proponents and validation/verification bodies, supporting the integrity and scalability of the VCS programme.
Oman's Muscat Municipal Council and Net-Zero Centre have established a national emissions framework, including the 'Meezan' platform, to track and verify carbon emissions. This initiative, presented by the Ministry of Energy and Minerals, aims to coordinate multi-sectoral emissions reduction pathways and align with Oman Vision 2040. The framework addresses the previous lack of a unified regulatory system, which hindered international investment and compliance monitoring. By standardising industrial carbon data and creating clear regulations for domestic carbon markets, Oman seeks to attract foreign capital and integrate carbon removal technologies. This move is intended to position Oman as a global partner in sustainable development and meet its 2050 net-zero target.
The UN's carbon market has approved its first two cookstove projects, which Carbon Market Watch claims significantly overestimate their climate impact. This follows a 2025 analysis by Carbon Market Watch on Clean Development Mechanism Programme of Activities 10415, indicating persistent overcrediting issues. The organisation states that these approvals occur despite ongoing efforts to curb such overestimations. The projects are the first of their kind to be approved under the UN's carbon market.
The Green Finance Institute (GFI) has facilitated a £1 million commercial loan from Oxbury Bank to UK biochar developer Restord, marking the first commercial bank debt for a British carbon removal enterprise. This financing, part of GFI's Carbon Dioxide Removal Catalyst initiative, integrates a forward purchase of carbon credits by Terraset to provide revenue certainty. The deal also involves a localised supply chain with The Green Waste Company and Woodtek Engineering. This structured transaction aims to provide a blueprint for scaling the UK's biochar sector by addressing the 'commercialisation gap' and enabling Restord to remove approximately 2,000 tonnes of CO2 annually.
Commons, a consumer climate/finance application, launched its largest carbon offset procurement cycle to date, seeking over 100,000 tonnes of carbon dioxide removal (CDR) and super pollutant mitigation credits. The call for expressions of interest focuses on projects in Southeast Asia, Latin America, the Caribbean Basin, or other island contexts. Commons is prioritising projects with verified credits or those expected to deliver credits this year, aligning with science-backed, measurable solutions and ICVCM-approved or pathway-eligible methodologies. This procurement aims to expand Commons' portfolio, which currently includes nine different pathways such as Biochar and Direct Air Capture.
The Livelihoods’ Mangrove Restoration project in Senegal, which has sold nearly 500,000 carbon credits, faces scrutiny over potential over-crediting and minimal community benefits. A 2017 verification report noted 25% tree cover loss in sample plots, impacting emission reduction calculations, and a subsequent 2021 report confirmed no replanting with recommended species. Critics highlight that a 2020 study found 96% of mangrove regeneration in the area was spontaneous, suggesting over-crediting, and only 5.2% of the project budget reached local communities. BeZero rated the project 'BBB' due to non-permanence and over-crediting risks, specifically citing potential overestimation of soil carbon.
NATS, the UK air navigation services provider, will invest over $600,000 (£500,000) in a portfolio of carbon dioxide removals (CDR) through a partnership with CUR8. The portfolio will include biochar credits from Carboneers, direct air capture (DAC) credits from 1PointFive, and credits from O.C.O Avonmouth. This investment is part of a broader UK Sustainable Aviation coalition initiative, which aims to stimulate the carbon removals market through a £2 million Advance Market Signal. NATS' commitment supports its goal of reaching net zero by 2035 and becoming carbon negative by 2040.
Carbon certification company Isometric has released a draft framework for using computational models to quantify carbon removal from enhanced weathering (EW), opening a 30-day public consultation until 8 July. The framework aims to allow EW to scale without compromising scientific rigour, addressing the high cost and impracticality of current dense soil sampling for Monitoring, Reporting and Verification (MRV). The draft requires projects to validate models against real-world field data in every reporting period and mandates independent expert review for proprietary models. Isometric previously issued independently certified EW credits in December 2024 and has certified credits for six projects from five suppliers. The company emphasises that no pathway to credits exists without field measurements.
Verra announced it has selected methodologies for further development, aiming to shape the direction of future climate impact. This decision follows a review process to identify methods that align with Verra's strategic goals for the voluntary carbon market. The selection is intended to enhance the quality and effectiveness of carbon credit projects under Verra's standards. This move is part of Verra's ongoing effort to refine its framework and ensure robust climate action.
Climeworks Solutions signed a ten-year agreement to supply Toronto-Dominion Bank with a diversified portfolio of carbon removal credits. The agreement marks TD Bank as Climeworks Solutions' first Canadian financial services customer. The portfolio will include biochar, enhanced rock weathering, bioenergy with carbon capture and storage, and future direct air capture credits from North American projects. Climeworks Solutions will manage project sourcing, due diligence, and portfolio optimisation, aiming to mitigate delivery and methodology risks for the bank. This contract provides TD Bank with a reliable stream of high-integrity removal credits and supports Climeworks Solutions' infrastructure expansion in Canada.
JPMorganChase expanded its partnership with Charm Industrial, purchasing 61,500 tonnes of carbon removal credits for multi-year delivery. This new deal brings JPMorganChase's total CDR purchases from Charm Industrial to 90,000 metric tonnes of CO2 equivalent, making it one of the largest bilateral bio-oil carbon removal offtakes. Additionally, JPMorganChase provided a $20 million venture debt facility to support Charm Industrial's commercial growth in Colorado, specifically for its pyrolysis and injection operations. The capital will aid in processing forest residues from wildfire mitigation projects and foster rural economic development. Charm Industrial specialises in permanent carbon removal via bio-oil injection and biochar.
The International Air Transport Association (IATA) has launched the Supporting Alliance for CORSIA EEU Supply, a coalition of over 32 members, to address a shortage of carbon credits for the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA). The alliance aims to make 225 to 250 million CORSIA Eligible Emissions Units (EEUs) available by spring 2027. This initiative responds to bottlenecks in the authorisation process under Article 6.2 of the Paris Agreement, which requires host country approval for credit transfers. IATA warns that billions of dollars in climate finance are at risk if these bottlenecks persist. The alliance will offer pro bono technical support to host countries to facilitate their Paris Agreement obligations.
Carbon Direct, Microsoft, and Stripe have published 'Sustainable Agricultural Biomass Sourcing for CDR: A Buyer’s Guide' to standardise diligence for agricultural residue feedstocks. The framework, developed in the United States but globally applicable, provides criteria for commercial buyers and project developers. It addresses ecological, social, and economic risks from mismanaged biomass sourcing as the carbon removal market expands. The guide mandates feedstock traceability, community and worker protection, soil and environmental safeguards, and market integrity mechanisms. This initiative aims to provide immediate, actionable standards for high-durability carbon removal, enabling credible scaling across diverse jurisdictions.
Puro.earth submitted an application to the European Commission to become a recognised certification scheme under the EU Carbon Removals and Carbon Farming Regulation (CRCF) on 6 June 2026. The new Puro.earth CRCF Programme will operate alongside its existing Puro Standard and CCS+ Programme. This initiative aims to provide commercial infrastructure for European project developers to issue officially recognised CRCF Certified Units. The platform made technical amendments to its Puro Standard General Rules (v4.3) and Geologically Stored Carbon methodology to align with EU Commission requirements. This move seeks to integrate durable carbon removal credits into European compliance mechanisms.
JPMorgan Chase has signed a second agreement with Charm Industrial to purchase 61,500 tonnes of carbon dioxide removal (CDR) credits, bringing its total commitment with the developer to 90,000 tonnes. The financial institution also extended a $20 million venture debt facility to support Charm Industrial's operational expansion. This deal aims to address the deficit of high-quality credits and institutional capital in the voluntary carbon market. Charm Industrial converts biomass into bio-oil for permanent underground sequestration, and the debt facility will fund the deployment of processing machinery, including for wildfire mitigation in Colorado. This expanded agreement establishes a replicable financing mechanism, providing immediate operational liquidity for scaling biomass processing infrastructure.
India-based climate infrastructure company Equilibrium has finalised a multi-year agreement with CO2 removal financier Altitude for 180,000 tonnes of biochar carbon dioxide removal (CDR). This represents one of India's largest long-term biochar offtake arrangements, expanding the country's role in the global carbon removal market. Altitude will provide capital to support the production and delivery of these credits, enabling Equilibrium to accelerate infrastructure deployment and expand its multi-site development strategy across agricultural regions. The initiative aims to convert agricultural residues into stable carbon matrices, addressing declining soil organic carbon and reducing reliance on synthetic inputs in India's agricultural sector. This agreement validates Equilibrium's waste-to-value model and promotes farmer-led adoption of enriched carbon applications.
Enable Earth and RegenSoil have partnered to convert agricultural waste into carbon products and credits in Thailand. Enable Earth processes animal feed corn waste into solid carbon matrices, international carbon credits, and industrial green heat. This initiative aims to establish a commercial-scale circular economy model in Southeast Asia, addressing the historical lack of practical application for pyrolytic carbon sequestration technologies in the region. The company generates revenue from agricultural sales, carbon credit monetisation, and green heat distribution, with corporate partners using pyrolytic off-gas to reduce Scope 1 and 2 emissions.