Carbon Gap has launched its Policy Levers Library, an online tool mapping 165 policy instruments designed to scale carbon removal in Europe. The library organises levers into six policy families and scores each against criteria such as cost, complexity, and timeline, as well as their impact on eight barriers to scaling carbon dioxide removal (CDR). It includes 478 case studies detailing how and where specific levers are applied across seven governance levels, from international bodies to city governments. This resource aims to provide policymakers and investors with a unified view of available tools to build a gigatonne-scale carbon removal industry.
Evertreen stated it has never sold a carbon credit against tree planting, clarifying that tree products carry a modelled lifetime CO₂ estimate without credit issuance or registry retirement. The company explained that 16,756 units funded for 'Trees in Indonesia' since 2020 were contributions to the Katingan Mentaya REDD+ project (VCS 1477), funding the retirement of verified carbon credits. Another 4,170 units were for mangrove planting in Sumatra, a product withdrawn due to a partner's inability to commit to annual volumes. Evertreen confirmed that funded trees remain monitored by local partners, with agreements for continued monitoring even after sales cease.
A white paper from Columbia University's Center on Global Energy Policy indicates that G20 countries, excluding the US, plus Singapore, are developing regulatory frameworks for carbon credits. The study notes a shift from voluntary standards towards government rules governing credit issuance, tracking, trading, and use. This move comes as activity in project-based carbon markets has weakened, with annual credit issuance falling from its peak. The report suggests that national registries are taking a larger role in market functions, signalling a more state-anchored era for carbon markets. This regulatory evolution could determine which credits are issued, traded, and used for climate claims.
Gold Standard is forming a working group to develop practical approaches for corporate Ongoing Emissions Responsibility (OER), following the Science Based Targets initiative's (SBTi) recognition of OER in its Corporate Net-Zero Standard 2.0. The group will examine how OER can be integrated into corporate transition plans and climate action portfolios, considering eligible activities and financial instruments. This initiative aims to establish consistent and credible application of OER, with guidance and solutions expected to be developed for use by companies in 2027. Gold Standard's prior research suggests that 'Advanced' contribution levels for OER could generate approximately $17 billion annually for climate action in the EU and US.
Milkywire announced it is exploring the procurement of large-scale carbon dioxide removal (CDR) from projects integrated within data centre infrastructure. The initiative focuses on solutions where data centre integration offers technical or economic advantages for durable CDR, such as utilising waste heat or shared energy systems. Milkywire has issued a call for proposals, seeking projects primarily focused on carbon removal that have secured at least one prior commercial CDR agreement. This move addresses sustainability concerns associated with the high resource consumption of data centres.
The International Emissions Trading Association (IETA) released a vision paper, 'Canada’s Carbon Market Opportunity: A Vision for Climate Competitiveness & Growth', outlining a strategy to enhance Canada's carbon market. The paper proposes a two-track approach: building a more connected pan-Canadian carbon market through improved interoperability and linkage, and leveraging this domestic platform to access international opportunities, including Article 6 cooperation. IETA states that these measures would reduce compliance costs, increase investment certainty, and support low-carbon industries. The organisation suggests this approach will help Canada achieve both climate and economic objectives.
The Carbon Data Open Protocol (CDOP) coalition, an international group of 75 organisations including Sylvera and S&P Global, launched Version 2.0 of its open-source data schema. This update expands standardised data parameters from four to eleven categories, covering critical phases of the carbon credit lifecycle. The new protocol aims to resolve data fragmentation in high-permanence carbon dioxide removal sectors like biochar by creating a unified digital framework. Version 2.0 introduces a versioned status record system, ensuring an immutable digital audit trail for credit modifications. This standardisation seeks to enhance transparency, operational efficiency, and institutional trust across global carbon markets.
Canadian law firm Torys LLP released an investment primer detailing Canada's legal and financial frameworks for carbon capture, utilisation, and storage (CCUS) and carbon dioxide removal (CDR) sectors, including biochar. The report indicates that total Canadian CDR credit prepurchases increased from approximately 75,000 units in 2024 to over 700,000 units in 2026. This growth is driven by federal carbon pricing, investment tax credits, and public procurement initiatives, positioning Canada for institutional capital deployment. Despite market momentum, investors face challenges such as carbon price fluctuations, high technology scaling costs, and complex subsurface rights. The Canadian government has introduced fiscal incentives, public procurement, and revenue de-risking mechanisms, including a 2024 commitment to procure CDR services and refundable Investment Tax Credits covering up to 60 per cent of eligible capital costs.
Japan Airlines (JAL) has initiated direct purchasing agreements for durable biochar carbon removal credits to manage its environmental compliance strategy. This move aims to bypass traditional intermediaries and secure bilateral arrangements with removal suppliers, insulating JAL from volatile secondary spot markets. The decision is driven by the impending supply crunch under Phase 2 of the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA), which mandates participation from 2027. JAL's strategy involves long-term, direct forward purchase contracts with vetted developers to ensure predictable volume flows and fixed pricing structures. This early market entry provides risk management and strategic advantages, establishing a precedent within Asian corporate finance for durable carbon dioxide removal.
Biochar Industrial Group (BIG), an Africa-based biochar developer, raised $1.5 million in pre-seed funding to expand its factory-integrated carbon removal model. The investment will support the installation of biochar production units directly at food processing facilities across Sub-Saharan Africa. This approach aims to secure a continuous biomass supply and expand carbon sequestration capabilities. By embedding processing infrastructure within existing agricultural operations, BIG seeks to resolve supply chain and cost inefficiencies often faced by industrial carbon removal developers in emerging markets. The funding demonstrates venture capital interest in decentralised carbon dioxide removal architectures and aims to scale high-permanence carbon removal and credit supply.
Exomad Green and Carbonfuture expanded their strategic supply agreement, securing over 1.1 million tonnes of biochar carbon removal (BCR) for corporate buyers through 2035. This builds on a 2023 collaboration that delivered over 400,000 tonnes and complements 1.2 million tonnes already contracted. The partnership links Exomad Green's Bolivian industrial facilities, which use sawmill waste, with Carbonfuture's digital tracking and distribution network. This expansion addresses market demand for traceable, verified carbon removal assets and supports Exomad Green's goal of one megatonne annual capacity. The biochar is also distributed to local Bolivian farmers to improve soil quality.
Puro.earth has launched an Environmental Attributes Registry to track agricultural carbon intensity (CI) from individual farms through supply chains in the United States. This infrastructure aims to provide verifiable data for clean-fuel producers seeking compliance with regulations like the US 45Z Clean Fuel Production Credit. The registry links field-level data to specific commodity volumes, addressing historical challenges in preserving environmental data as agricultural commodities are processed and traded. This system creates a new secondary asset class, managed separately from Puro.earth's CORCs, to incentivise lower-emission agricultural production.
Exomad Green and Carbonfuture expanded their strategic supply partnership, securing over 1.1 million tonnes of biochar carbon removal (BCR) for corporate buyers through 2035. This agreement includes a pre-existing supply for 2026 and adds to over 1.2 million tonnes already contracted. The deal links Exomad Green's Bolivian production with Carbonfuture's digital tracking and buyer network. Since 2023, Exomad Green has delivered over 400,000 tonnes of durable carbon removal, becoming a market leader by cumulative delivered volume. This expansion reflects a market trend where corporate buyers prioritise suppliers with proven operating histories and verifiable delivery records.
Puro.earth, a carbon removal standard and registry provider, launched a new registry for environmental attributes on 18 September 2026, initially focusing on agricultural carbon intensity. Perdue Farms and Arva Intelligence are the first adopters, also serving as founding members of an industry initiative to establish an environmental board of trade (EBOT). The registry will record verified field-level data to improve traceability and reduce double counting within agricultural supply chains. Puro.earth will initially attest to the correct implementation of third-party methodologies, with plans to potentially develop its own regenerative agricultural methodologies. The EBOT initiative aims to develop common MRV approaches, technology-based verification, and market infrastructure for environmental attributes from regenerative agriculture.
The Carbon Data Open Protocol (CDOP) coalition released Version 2.0 of its open-source data schema, expanding coverage from four to 11 categories to standardise carbon crediting information across the full project lifecycle. This update, one year after its initial launch, introduces new categories including Crediting Period and Project Finance, and was led by market working groups from firms such as Sylvera and South Pole. Version 2.0 also implements a versioned status record, ensuring a permanently auditable history for all credit status changes. The protocol aims to address market fragmentation by providing a common framework for data across registries and platforms. CDOP, with 75 members, is finalising additional categories like Additionality and Verification Metadata.
Gold Standard has invited companies to join a new Ongoing Emissions Responsibility (OER) Working Group, aiming to develop practical approaches for addressing emissions that remain during the transition to net zero. The Science Based Targets initiative (SBTi) has recognised OER within its Corporate Net-Zero Standard 2.0, including a voluntary recognition programme for participating companies. The working group will explore how OER fits into transition plans, how to build credible climate action portfolios, and which instruments qualify. Gold Standard's analysis suggests that applying SBTi's 'Advanced' contribution levels could mobilise approximately US$17 billion annually for climate action in the EU and US. The initiative seeks to establish a clear pathway for companies to implement and demonstrate OER credibly.
Indigenous communities in Bolivia's Multi-Ethnic Indigenous Territory II (TIM II) have rejected a carbon contract signed with the Federico Hecker Foundation, covering over 440,000 hectares for 30 years. The board of TIM II issued a public statement in March 2025, refusing to recognise the agreement due to a lack of free, prior, and informed consent from all 36 communities. The contract, signed in 2024, granted the Foundation control over carbon credits, audits, and sales within 88% of TIM II. Indigenous organisations in Bolivia subsequently published a 'Manifesto for Land, Territory, and the Environment' in October 2025, rejecting carbon credits as a commodification of nature.
Verra announced on 17 September that it has vetted Treefera, CYCLOPS, Lobelia Earth, and TransparenC to provide stocking index (SI) data for its VM0047 Afforestation, Reforestation, and Revegetation (ARR) methodology. These four companies join Sylvera, Kanop, and Chloris Geospatial, which Verra approved earlier this year. The vetted data service providers (DSPs) supply data that establish performance benchmarks for ARR projects, streamlining project registration and verification. Treefera and Sylvera are integrated with the Verra Project Hub via APIs for efficient data exchange. VM0047 versions 1.0 and 1.1 have been approved by the Integrity Council for the Voluntary Carbon Market (ICVCM) as meeting Core Carbon Principles (CCPs) criteria.
German technology developer PyroCCS closed its first external equity round, securing seed funding from Lotus One Investment, climate-tech venture capital firm Counteract, and private investors. This capital injection will accelerate the global deployment of the company’s modular pyrolysis infrastructure and integrated biocarbon supply chain across Africa, Asia, and the Americas. PyroCCS uses its proprietary Gravity Series pyrolysis systems and Sarva Plant Operating System to process biomass into industrial-grade biocarbon, bio-oil, baseload power, and durable carbon removal credits. The company's digital monitoring, reporting, and verification (dMRV) framework integrates with registries including Isometric, Puro.earth, and Carbon Standards International. This investment follows a recent carbon credit purchase agreement with Tencent, awarded after PyroCCS was selected for Tencent’s CarbonX 2.0 initiative.
Empacar S.A. has launched CarbonX, a new business unit, to enter the voluntary carbon market by scaling biochar carbon removal in Bolivia. Supported by BioFlux, the initiative aims to remove approximately 70,000 tonnes of CO2e annually through pyrolysis operations in the Guarayos region. The project will utilise low-value woody residues from local sawmills, addressing challenges in equipment validation and regulatory frameworks for biochar in Latin America. CarbonX is developing an audit-ready framework targeting Puro.earth methodology standards and plans to use local agricultural soil application for its biochar.
Exomad Green and Carbonfuture announced an expanded partnership on 17 September 2026, securing over 1,100,000 tonnes of biochar carbon removal supply for corporate buyers through 2035. This new allocation is in addition to the more than 1,200,000 tonnes already contracted under existing multi-year agreements. Exomad Green, which has delivered over 400,000 tonnes of durable carbon removal since mid-2023, will provide the supply via Carbonfuture's digital infrastructure. The companies state that this expansion addresses buyers' increasing demand for proven delivery and traceable, high-integrity carbon removal.
Brazil's Ministry of Finance and China's Ministry of Ecology and Environment have begun discussions to establish a sovereign carbon trading framework before COP31. The negotiations focus on transferring Brazilian Internationally Transferred Mitigation Outcomes (ITMOs) under Article 6.2 to Chinese entities. This initiative aims to create a formal cross-border mechanism for climate finance and market interoperability, addressing challenges in integrating cross-border carbon transfers within national mitigation targets. Both nations are establishing rigorous baseline requirements and operational criteria for high-integrity credits, including Brazil's proposed 50 million tonne CO2e cap for international transfers between 2031 and 2035. The framework seeks to provide a scalable model for cross-border carbon accounting and channel international climate finance into Brazilian decarbonisation efforts.
Climeworks' new report identifies North America as the global leader in carbon dioxide removal (CDR) volume and financial value, driven by diversified buyer engagement and supportive policy frameworks. The analysis, released ahead of Climate Week NYC, notes that technology and software firms lead corporate procurement, with increasing demand for high-integrity credits and local co-benefits. Historically, bioenergy with carbon capture and storage (BECCS) and reforestation have dominated the region's CDR volume, each exceeding 10 million metric tons sold since 2019. Key policies like the 45Q tax credit in the US and Canada's CCUS Investment Tax Credit support market growth and project financing.
The Voluntary Carbon Markets Integrity Initiative (VCMI) and Climate Focus released a report on 16 September guiding governments on building and scaling domestic carbon credit markets. The report examines policy instruments countries can use to attract investment, drive demand, and increase the supply of high-quality carbon credits. It suggests measures such as developing government strategies, legal frameworks for Article 6 and VCMs, and national carbon registries. The publication also highlights successful implementations in Ghana, which established a carbon markets framework and registry, and South Korea, which integrated VCMs with its ETS and provided tax incentives. This initiative aims to help countries close the estimated $1.3 trillion annual climate finance gap.
A report by the Centre for Economic Policy Research (CEPR) titled 'An autopsy of the voluntary carbon market' argues that the VCM disincentivises corporate emissions reductions. The report, co-authored by Ugo Panizza, Francesco Tripoli, and Beatrice Weder di Mauro, claims that buying cheaper carbon credits allows companies to avoid the costs of improving production processes to cut emissions. Using data from Allied Offsets, corporate emissions, and financial accounts, CEPR identified four key problems: market dominance by unverified avoidance projects, 3.5 billion unused credits creating a 'market for lemons', a small number of flagship projects accounting for most retirements, and a lack of a single carbon credit price. The report also found that companies that stopped buying credits after January 2023 reduced their Scope 1 emissions by approximately 20% more than those that continued purchasing credits.
Data from carbon removal marketplace Supercritical indicates global biochar credit sales reached 2.99 million tonnes in the first half of 2026, up from 1.59 million tonnes in H1 2025. This expansion was driven by a tenfold increase in non-Microsoft forward-committed purchasing to 1.81 million tonnes, while spot market sales decreased by 54 percent. Supercritical's assessment of over 400 global biochar projects found only 13 met its full compliance standards, leading to 81 percent of high-quality 2026 supply being committed via contracts by July. Corporate buyers are shifting from annual spot transactions to multi-year offtake frameworks due to tightening supply of high-integrity biochar. This trend suggests that access to verified carbon removals increasingly depends on early contract execution and rigorous project vetting.
Verra launched its Scope 3 Standard (S3S) Programme on 15 September 2026, providing a framework to quantify, verify, and certify climate action projects within corporate value chains. The programme allows project proponents to generate Scope 3 Units (S3Us), each representing one tonne of CO2 equivalent reduced or removed. S3Us can be used for corporate greenhouse gas reporting and climate action claims, complementing the existing Verified Carbon Standard (VCS) Programme. Version 1 of the programme initially supports methodologies for improved agricultural land management and low-carbon concrete production, with further sectors and functionalities planned for future updates. This initiative aims to drive investment into in-value-chain climate action by offering an independent certification system for Scope 3 emission reductions.
The Western Australian Greens have publicly opposed their federal party's decision not to support a disallowance motion against the federal government's Improved Native Forest Management (INFM) carbon credit method. This method allows state governments to generate carbon credits by halting planned timber harvesting in public native forests. Critics argue these offsets do not reduce overall emissions but enable industrial emitters to compensate for fossil fuel emissions. The defeat of the disallowance motion means the INFM methodology remains active, potentially yielding up to 1.5 million carbon credits.
The Royal Bank of Canada (RBC) has agreed to purchase Improved Forest Management (IFM) carbon removal credits from US-based project developer Chestnut Carbon. This deal directs corporate carbon market capital to private forest owners across 37 states, covering over 200,000 acres. The agreement aims to incentivise long-term forest conservation by offering landowners an economic alternative to land conversion or aggressive timber harvests. It supports sustainable forestry practices such as extended harvest rotations and strategic thinning. For RBC, the acquisition contributes verified nature-based carbon removals to its operational sustainability strategy.
Google has signed a five-year agreement with Mitti Labs to purchase one million carbon credits by 2030, targeting methane reduction from rice cultivation in India. This deal, focused on smallholder rice farms across 100,000 hectares, represents the largest off-take agreement for rice-methane reduction credits to date. Mitti Labs will implement Alternate Wetting and Drying (AWD) practices across over 70,000 farms, using a GeoAI platform for verification. The project aims to reduce methane emissions by approximately 50% and irrigation water usage by nearly 40% without affecting crop yields. It is expected to deliver three million tonnes of near-term climate impact reduction and conserve 1.5 trillion litres of water.
Whirlpool Corporation partnered with ClimeFi to procure a diversified portfolio of durable carbon dioxide removal credits, including biochar from Liferaft. The procurement strategy involves four distinct suppliers and carbon removal pathways across the United States and Brazil. This initiative aims to advance Whirlpool's net-zero greenhouse gas emissions goal by 2050. ClimeFi structured a dual-track contracting framework, combining firm offtake commitments with standalone call options to provide immediate capital certainty and future scalability. This collaboration validates biochar as a key component in multi-technology portfolios and sets a precedent for corporate carbon removal procurement.
Carba's biochar facility at the Burnsville Sanitary Landfill in Minnesota became the first carbon removal project validated under Isometric's methodology for biochar storage in low-oxygen environments. Following this third-party verification, U.S. Bank completed its initial purchase of durable carbon removal credits from Carba. The project converts waste biomass into stable biocarbon using a patent-pending autothermal processing system and anoxic burial, leveraging existing landfill infrastructure. This model aims to provide multi-thousand-year carbon sequestration and additional environmental benefits, establishing a framework for landfill-based biocarbon storage.
GSK has agreed an eight-year carbon credit purchase deal, structured by Earthly, to support Varaha's regenerative agriculture project in India. The initiative aims to expand sustainable land management across over 50,000 hectares in northern India, generating carbon emission reductions and removals. The project will help farmers adopt practices like crop residue soil incorporation and reduced tillage, addressing seasonal crop residue burning in Punjab and Haryana. Future credit issuances are expected to align with ICVCM Core Carbon Principles as the project upgrades its Verra certification to VM0042 v2.2.
REDD-Monitor has publicly questioned Evertreen, a tree-planting company, regarding discrepancies in its carbon credit sales and project transparency. The inquiry follows Evertreen's removal of specific project pages for 'Reforestation in Indonesia' and 'Restoration in India', and a significant reduction in its claimed CO2 absorption figures from 3,025,356 tonnes to 82,618 tonnes. Questions also address the sale of credits from Verra-suspended projects and changes to refund policies. Evertreen has not yet responded to the detailed queries.
The New South Wales (NSW) Labor government has made the establishment of the Great Koala National Park, covering 315,000 hectares, conditional on the successful registration of a carbon project under the Improved Native Forest Management Method. This decision has sparked debate, with critics arguing against the additionality of the carbon credits, as the park was first promised in 2015 and budgeted for in 2023. The NSW government committed A$80 million in the 2023-24 state budget and a further A$60 million to support the park's creation. The Greens, despite reservations about trading carbon from existing forests, have reportedly reached a deal with Labor, allowing the carbon credit plan to proceed.
Corporate buyers secured 81% of the available high-quality biochar carbon credit supply by July 2026, three months earlier than in 2025, according to market research from Supercritical. Excluding large Microsoft transactions, market-wide off-take volumes increased tenfold from 176,000 tonnes in H1 2025 to 1.81 million tonnes in H1 2026. This accelerated procurement is leading to tight late-year supply constraints and spot market price inflation. The report indicates a shift towards structured multi-year agreements, leaving minimal high-integrity supply for second-half spot buyers. Biochar continues to lead the carbon dioxide removal sector in verified volume.
The European Commission has proposed a regulatory framework to allocate revenues from 250 million EU ETS allowances between 2031 and 2040 for permanent carbon dioxide removal (CDR) procurement. This framework restricts initial technology eligibility to Bioenergy with Carbon Capture and Storage (BioCCS) and Direct Air Carbon Capture and Storage (DACCS), excluding biochar and other decentralised carbon removal pathways. The policy prioritises industrial point-source capture and geological storage, creating a centralised procurement market. Industry experts estimate current European BioCCS deployment costs at €300-€400 per tonne, posing potential financial risks against assumed procurement price targets. This approach focuses on large-scale industrial clusters near geological storage hubs, limiting direct participation for agricultural enterprises and decentralised pyrolysis operators.
U.S. Bank has acquired carbon removal credits from biochar developer Carba, marking its first direct investment in durable carbon removal technology. Carba deployed a proprietary molten salt pyrolysis reactor at a Minnesota landfill to convert urban waste biomass into biochar. This on-site processing reduces transportation costs and aims for carbon durability exceeding 1,000 years at under $100 per metric tonne. The agreement expands Carba's client base, which includes a prior five-year purchase contract with Microsoft.
Elisa Morgera, UN special rapporteur, released a report titled 'Rethinking carbon credits according to international climate and human rights obligations', identifying structural misalignments between carbon markets and states' international obligations. The report calls for an urgent reassessment of carbon markets, citing growing evidence that credits fail to support cost-effective climate mitigation or mobilise additional finance. Morgera's analysis, which builds on earlier human rights studies, highlights persistent challenges leading to low-quality credits, overcrediting, greenwashing, and fraud. It also raises concerns about carbon credits enabling continued fossil fuel dependence and perpetuating human rights harms, particularly for Indigenous Peoples and rural communities. The report argues that carbon credits may not effectively contribute to states' obligations to prevent climate harm and protect the human right to a healthy environment.
GSK has entered an 8-year purchase agreement for carbon credits from Varaha's regenerative agriculture project in northern India, structured by Earthly. The biopharma company will support the expansion of regenerative agriculture practices across over 50,000 hectares, aiming to reduce crop residue burning and increase soil carbon storage. This investment aligns with GSK's sustainability strategy to reduce 80% of its CO2 emissions by 2030 and address the remaining 20% through high-quality nature projects. The project, certified under Verra's VM0042 methodology, will be upgraded to VM0042 v2.2, allowing future issuances to qualify for the CCP label.