This Week in Carbon

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This Week in Carbon

Welcome to This Week in Carbon, your go-to podcast for all things related to the dynamic world of carbon markets. Join moderator Edward Smith and his weekly guests as they delve into the latest news, emerging trends, and evolving regulations shaping the carbon landscape.

  1. 52

    The Hidden Gigaton: Why Super Pollutants Are Carbon Markets’ Blind Spot

    In this episode of This Week in Carbon, Rene Velasquez sits down with Fritz Troller, founder of Therm, to unpack one of the most overlooked challenges in climate: super pollutants.Often described as the “hidden gigaton,” these gases — including refrigerants, methane, and fluorinated gases — are responsible for a disproportionate share of near-term warming. As Fritz explains, nearly half of global heating to date has been driven by super pollutants — yet they remain largely invisible in mainstream carbon market conversations.  The critical difference?Unlike CO₂, super pollutants cannot be removed once released into the atmosphere. That makes prevention — not removal — the only viable strategy.The conversation dives into:Why refrigeration systems are a massive, under appreciated emissions sourceThe “leaky infrastructure” problem across global food supply chainsHow carbon finance is being used to incentivise avoidance at sourceThe rise of super pollutant credits — and why buyers like Google and JPMorgan are paying attentionThe growing role of insetting across supply chains (upstream and downstream)Why this category is consistently receiving top-tier ratings from agencies like BeZero and CalyxThe opportunity — and urgency — of scaling solutions across Article 5 (Global South) marketsFritz also outlines Therm’s multi-channel strategy across voluntary markets, compliance systems, and insetting — offering a rare look at how to build resilience in a still-evolving carbon market.This is a timely discussion on a category that may lack the storytelling appeal of nature-based solutions — but from a pure climate impact perspective, may be among the most important levers we have.

  2. 51

    From Momentum to Recent Realities - Inside Asia's Transition - Eu-Lin Fang

    In this episode of This Week in Carbon, Rene Velasquez sits down with Eu-Lin Fang, Sustainability and Climate Change Practice Leader at PwC Singapore. They discuss the surprising momentum of net zero targets set during the COVID pandemic, the real-world challenges companies face in meeting 2030 science-based targets, and how decarbonization must be tackled alongside physical and transition climate risks. Eu-Lin shares practical insights on Scope 3 emissions complexities in Asian supply chains, the power of policy certainty for corporate action, and the role of credible transition plans and regional taxonomies in unlocking sustainable finance. The conversation also covers geopolitical distractions and surging energy prices, the double-edged impact of AI on emissions versus climate solutions, and an optimistic outlook framed by Asia-Pacific’s four Cs: courage, caliber, creation, and connectivity.Takeaways- Many countries showed strong leadership by committing to net zero targets during the height of COVID.- Approximately 145 countries have set net zero targets, covering around 77% of global emissions.- Policy certainty is essential for companies to make confident long-term capital decisions on climate action.- Decarbonization efforts and climate risks must be viewed together, not in isolation.- Scope 3 emissions are critically important but face major data quality, measurement, and double-counting issues.- Business resilience and fiduciary duty matter more than short-term political shifts.- Credible climate transition plans are a key litmus test for financial institutions providing transition finance.- Singapore’s Asia Taxonomy provides a pragmatic regional approach to green and transitioning activities.- AI brings both significant energy demands and powerful opportunities to solve complex climate problems.- Asia-Pacific’s transition can be powered by courage, caliber, creation, and connectivity.With strong buyer interest already shown through ambitious net zero commitments covering 77% of global emissions, this episode sits at the centre of the carbon market’s shift toward credible transition plans, real-world implementation challenges, and pragmatic climate leadership in Asia.Perfect for anyone interested in decarbonization realities, Scope 3 supply chains, sustainable finance, and Asia-Pacific’s path forward. Listen now on Spotify, Apple Podcasts, YouTube, and more.

  3. 50

    Special: Indigenous Amazon Outcome Bond – Credible Finance for Indigenous-Led Forest Conservation

    In this special webinar recording of This Week in Carbon, we dive into the Indigenous Amazon Outcome Bond Initiative — a groundbreaking effort to mobilize $50 million in upfront capital for Indigenous and traditional community-led forest conservation across the Amazon.Hosted by Edward Smith (Valitera) and guided by Pamela Brazier (Everland), the discussion features powerful insights from:Puyr Tembe (Secretary of Indigenous Peoples, State of Pará): On the urgency of action, survival of humanity, and why Indigenous autonomy and direct finance are essential.Thibault Sorret (CEO, Equitable Earth): Why standing forests are irreplaceable for 2°C pathways, the role of forest conservation in the VCM, and how centralized baselines + genuine community ownership are rebuilding credibility.Fernanda Ribeiro (Panthera): The Jaguar Corridor Initiative, biodiversity connectivity, and why climate and biodiversity strategies must be integrated.Rene Velasquez (Valitera): The “time value of carbon” and what makes this initiative investable through Indigenous leadership, scale, and aligned incentives.Josh McCarron (Everland): How the outcome bond turns future carbon revenues into accessible, non-recourse capital today, plus the multi-layered quality safeguards.With strong buyer interest already shown through $160 million in letters of intent, this episode sits at the center of the carbon market’s shift toward credibility, implementation, and Indigenous climate leadership.Perfect for anyone interested in high-integrity natural climate solutions, forest protection, and innovative finance.Listen now on Spotify, Apple Podcasts, YouTube, and more.Guests: Puyr Tembe, Thibault Sorret, Fernanda Ribeiro, Rene Velasquez, Josh McCarron. Hosted by Edward Smith with Pamela Brazier.

  4. 49

    Building High-Integrity Carbon Credits: Digital MRV & The Time Value of Carbon | Yvonne Champagne

    In our new episode of This Week in Carbon, Rene Velasquez is joined by Yvan Champagne, Co-Founder and Chief Carbon Officer at Carbon AI. He is a leading expert in carbon markets with over 20 years of experience in greenhouse gas project development and high-integrity environmental commodities. This info-dense episode provides an in-depth masterclass on building trustworthy carbon credits through advanced digital MRV technology, the critical importance of data quality, and the paradigm shift needed to scale the market to gigaton levels. This episode delivers the clearest take on how to move carbon markets from analog, paper-based processes to robust, auditable digital infrastructure.Key Topics• Why high-quality data is the foundation of synthetic commodities like carbon credits — and why poor data creates poor instruments• How Carbon AI’s DMRV platform (Proof, Field, and Vue) goes beyond a digital twin to actually generate and verify high-integrity credits• The bottlenecks in verification and issuance — and how immutable data can increase throughput without compromising integrity• The powerful concept of Time Value of Carbon: why avoiding emissions today (especially methane) has disproportionately higher climate impact than future removals• Shifting carbon markets from an “art market” to professional, scalable infrastructure capable of delivering gigaton-scale results• Innovation from the Global South and building a more efficient, transparent carbon 3.0 future Whether you’re a project developer, corporate buyer, verifier, registry professional, or investor looking to understand the future of high-quality carbon credits, this conversation is packed with actionable insights and practical takeaways. If you enjoyed this episode, hit subscribe, leave a review, and share it with someone navigating carbon markets in 2026! #CarbonMarkets #CarbonCredits #DMRV #ClimateTech #VoluntaryCarbonMarket #Methane #TimeValueOfCarbon #NetZero #CarbonAI #Sustainability #DigitalMRV 

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    The CORSIA Scheme Explained: Demand, Supply, and Market Dynamics - Juan Carlos Arredondo Brun

    In our new episode of This Week in Carbon, Edward Smith and Rene Velasquez are joined by Juan Carlos Arredondo Brun, Director of Knowledge, Policy and Advocacy at Abatable. He is a leading expert in carbon markets and aviation decarbonization. This info-dense episode provides an in-depth analysis of the CORSIA scheme, its current market status, demand and supply dynamics, and future prospects. This episode delivers the clearest, most authoritative take on where the CORSIA market stands today and where it’s headed.Key Topics• Why it took nearly 10 years to launch and what “just starting this market” really means• Abatable’s institutional modeling vs. ICAO/IATA demand forecasts (200–220 Mt in Phase 1)• The critical role of LOAs, insurance, and corresponding adjustments• Why many airlines are still in “wait-and-see” mode• Enforcement realities in the voluntary Phase 1 and what changes in the compliance phase• Outlook for supply unlocking, new eligible programs, and price evolution through 2027–2028Whether you’re an airline, carbon trader, project developer, or simply want to understand one of the most important emerging compliance markets, this conversation is packed with actionable insights.If you enjoyed this episode, hit subscribe, leave a review, and share it with someone navigating carbon markets in 2026!#CORSIA #CarbonMarkets #Aviation #Decarbonization #Article6 #VoluntaryCarbonMarket #carbon #sustainability #earth #conservation #pilots #SAF

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    How Standards Shape the Future of Carbon Finance: Insights from WWF's Rueban Manokara

    In this episode of This Week in Carbon, host Edward Smith sits down with Rueban Manokara from the World Wide Fund for Nature (WWF) to break down the future of carbon markets, carbon finance, and global climate policy.If you want to understand how carbon markets actually work, what’s happening with Article 6 of the Paris Agreement, and why blue carbon projects (like mangroves) are gaining massive global attention, this episode is for you.We dive into the role of carbon standards, the challenges of market integrity, and how organizations like WWF are shaping the future of carbon pricing systems and nature-based solutions.🚨 Key topics covered:- What is carbon finance and how does it work?- The role of standards in voluntary carbon markets- Article 6 explained (carbon trading under the Paris Agreement)- Why blue carbon projects are in high demand right now- The future of carbon pricing and climate markets- How WWF approaches carbon markets and real-world decarbonization🌍 Whether you're in climate tech, sustainability, ESG, carbon credits, or Web3 climate solutions, this conversation will give you valuable insights into where the market is heading.👉 Don’t forget to like, subscribe, and turn on notifications for more deep dives into the global carbon economy.#CarbonMarkets #CarbonCredits #ClimateChange #Sustainability #ESG #Article6 #BlueCarbon #NatureBasedSolutions #ClimateFinance #WWF

  7. 46

    Unlocking the Power of Blue Carbon: Market Insights from Kim Gabrielli

    In this episode of This Week in Carbon, host Edward Smith sits down to speak to Kim Gabrielli, CEO of Worldview International Foundation. Kim shares his unique perspective on the evolving landscape of carbon markets, blue carbon, and the critical role of transparency and integrity in driving climate action. Discover how Kim's extensive experience from the UN to project development is shaping innovative solutions for nature-based climate mitigation. Key topics- Article 13 and transparency framework in the Paris Agreement- Blue carbon market development and challenges- Mangrove restoration and project success metrics- Market integrity, standards, and evolving methodologies- Community engagement and local livelihoods in carbon projects

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    The Future of Global Carbon Credits: Fragmented Patchwork or Unified System? - Stephanie Russo

    In this episode of This Week in Carbon, Rene Velasquez sits down to discuss with Stephanie Russo, Managing Director at Pollination. They delve into the complexities of carbon markets, focusing on the Australian Carbon Credit Unit (ACCU) market and the Corsia framework. They discuss the evolution of these markets, the dynamics of supply and demand, and the political risks associated with compliance mechanisms. The conversation also touches on the role of insurance, project developers, and financial institutions in navigating these markets, as well as the implications of sovereignty and the intersection of Article 6 and Corsia. The episode concludes with reflections on the future of carbon markets and the importance of policy certainty.Takeaways- Australia's carbon market has evolved through various phases.The ACCU market is now predominantly driven by compliance demand.- Political stability is crucial for the durability of carbon policies.- Corsia faces challenges with supply and demand dynamics.- Insurance plays a key role in managing risks in carbon markets.- Project developers are essential for unlocking carbon credit supply.- Conditions precedent in contracts are critical for airlines.- Sovereignty impacts how countries engage in carbon markets.- The intersection of Article 6 and Corsia is complex and evolving.- Future success in carbon markets depends on clear policy frameworks.

  9. 44

    Inside the Complex World of Corsia: The Bottlenecks and Opportunities - Valerio Magliulo

    In this episode of This Week in Carbon, Rene Velasquez sits down to speak to Valerio Magliulo, CEO and co-founder of Abatable. They discuss the evolution of carbon markets, the role of airlines in compliance, and the challenges and opportunities within the Corsia framework. He emphasizes the importance of effective communication and collaboration among stakeholders to navigate the complexities of carbon procurement and pricing. Valerio shares insights on how Abatable has adapted its business model to focus on demand and the need for a more structured approach to carbon supply and pricing in the market.TakeawaysValerio Magliulo is the CEO and co-founder of Abatable, focusing on carbon markets.Abatable was founded to address inefficiencies in the voluntary carbon market.The company has evolved from aggregating supply to focusing on demand in carbon procurement.Airlines are increasingly engaged in carbon markets to meet compliance obligations.Corsia is a critical framework for airlines to purchase carbon credits.There are significant bottlenecks in the carbon supply chain, particularly in project accreditation.Price discovery in carbon markets is still developing, affecting procurement strategies.The shape of carbon supply is influenced by the types of projects that receive accreditation.Airlines are looking for quality and community engagement in their carbon procurement.The future of carbon markets depends on effective communication and collaboration among stakeholders.

  10. 43

    The Hidden Truth About Permanence in Nature-Based Solutions You've Never Considered -Charles Bedford

    In this episode of This Week in Carbon, host Edward Smith and co-host Rene Velasquez sit down with Charles Bedford, Chief Impact Officer at Carbon Growth Partners (CGP). They discuss various aspects of carbon markets, including the recent collapse of Cocoa Networks and its implications for the industry. They explore the importance of permanence mechanisms in nature-based solutions and the complexities of measuring biodiversity credits. The dialogue also touches on the contrasting perspectives of the Global North and South regarding carbon markets, with a particular focus on China's emerging role as a significant player in the global carbon landscape. The conversation concludes with reflections on the future of carbon markets and the need for clear regulatory frameworks to support their growth.TakeawaysCocoa Networks' collapse highlights the fragility of carbon markets.The demand for carbon credits is still significant despite setbacks.Permanence mechanisms are crucial for the success of nature-based solutions.Biodiversity credits are complex and localized, differing from carbon credits.The Global North often misunderstands the needs of the Global South.China is emerging as a significant player in global carbon markets.Investment in the Global South is essential for climate solutions.Regulatory frameworks need to evolve to support carbon markets.The intersection of insurance and buffer pools can enhance project viability.Future success in carbon markets depends on clear pathways and demand signals.

  11. 42

    How Influence, Trust, and Social License Drive Corporate Climate Action - Patrick Flynn

    In this episode of This Week in Carbon, host Edward Smithand regular guest Rene Velazquez sit down with Patrick Flynn, founder of Switchboard,former head of sustainability at Salesforce and a leader in corporate climateaction. He discusses his career journey and the evolving role of ChiefSustainability Officers. He emphasizes the importance of influencing changewithin organizations, making a business case for climate action, and addressingscope three emissions. Flynn also highlights the significance of corporateadvocacy in climate policy and the need for companies to engage with financialinstitutions to drive sustainability efforts. The discussion concludes withreflections on the importance of speed and scale in climate strategies and thepersonal journey of finding purpose in climate action.Takeaways·     The Chief Sustainability Officer acts as theplanet's advocate within a company.·     Influencing change requires understandingcolleagues' motivations and building relationships.·     Climate action is not just about environmentalresponsibility; it also makes good business sense.·     Scope three emissions represent the largestshare of corporate emissions and require focused strategies for reduction.·     Corporate climate policy advocacy is essentialfor aligning business practices with sustainability goals.·     Engaging with financial institutions cansignificantly impact a company's carbon footprint.·     Speed and scale are critical in climatestrategies to achieve meaningful change.·     Companies should leverage their unique strengthsto drive climate action effectively.·     Building coalitions among companies can amplifythe impact of sustainability efforts.·     Awareness of the environmental impact offinancial decisions is growing, but more action is needed.Chapters·     00:00 Introduction and Technical Setup·     02:58 Patrick Flynn's Career Journey·     05:45 The Role of Chief Sustainability Officer·     09:11 Influencing Change in CorporateSustainability·     12:10 Making the Business Case for ClimateAction·     15:03 Scope Three Emissions and Value ChainDecarbonization·     18:07 Corporate Climate Policy Advocacy·     21:03 Switchboard and Topo Finance Overview·     23:58 Engaging with Financial Institutions forClimate Action·     27:07 Speed and Scale in Climate Strategies·     30:00 Conclusion and Reflections on ClimateAction

  12. 41

    From Oregon's Timber Wars to Global Carbon Policy - Alexia Kelly

    In this episode of This Week in Carbon, host Edward Smith and regular guest Rene Velasquez sit down with Alexia Kelly. Alexia shares her extensive journey in the field of carbon markets, discussing her experiences in both public and private sectors. She emphasizes the importance of understanding the complexities of carbon markets, the role of the ICVCM in establishing standards, and the future of global carbon markets, particularly in relation to Article 6 of the Paris Agreement. The discussion highlights the challenges and opportunities within the carbon market landscape, including the need for better communication and the significance of voluntary actions in driving climate initiatives.Key Takeaways:Alexia's journey in environmentalism began in her childhood during the timber wars.She emphasizes the importance of working in both public and private sectors for a well-rounded perspective.The carbon market is evolving, with significant changes in standards and methodologies.Communication in the environmental space needs to be simplified for broader understanding.The ICVCM is crucial for establishing quality standards in carbon markets.Voluntary actions can lead to significant innovations in climate policy.The future of carbon markets is promising, especially with the upcoming compliance markets.Investment in capacity building is essential for developing countries to engage in carbon markets.The complexity of carbon markets presents both challenges and opportunities for stakeholders.A portfolio approach to carbon credits can enhance the effectiveness of climate action.Chapters:00:00 Introduction and Context of Carbon Markets01:24 Alexia's Career Journey in Climate and Sustainability09:32 Insights from Corporate Carbon Buying at Netflix20:34 The Role of ICVCM in Carbon Market Integrity27:01 Emergence of Robust Methodologies in Carbon Markets28:13 Market Dynamics and Quality Standards30:24 Article 6 and International Cooperation32:50 Challenges in Implementing Article 638:38 The Role of Voluntary Markets41:16 Future of Global Carbon Markets45:32 Building a Verified Carbon Market Coalition49:01 The Path to Net Zero and Market Integration

  13. 40

    Transforming Carbon Markets with Satellite Imagery and AI - Clinton Libbey

    In this episode of This Week in Carbon, host Edward Smith engages with Clinton Libbey, founder of Kumi Analytics, to explore the transformative role of satellite imagery and AI in carbon markets. Clinton shares his extensive background in remote sensing, detailing his journey from working with NASA's early image processing systems to founding Kumi Analytics. The conversation delves into the complexities of using satellite data for environmental monitoring, particularly in carbon projects, and highlights the importance of deep learning in extracting valuable insights from satellite imagery. Clinton emphasizes the need for accurate environmental intelligence to improve the integrity and transparency of carbon credits, especially in light of past scandals in the carbon market.Key highlights:Satellite imagery is the richest source of information.Deep learning is crucial for extracting value from complex satellite data.Combining different satellite types enhances data accuracy.Mangroves are critical for carbon sequestration but face significant threats.High-resolution data is essential for accurate carbon monitoring.Chapters:00:00 - Introduction and Background02:14 - Clinton Libbey's Journey in Remote Sensing05:08 - Deep Learning and Satellite Imagery07:11 - The Shift to Carbon Markets10:53 - Types of Satellites for Environmental Monitoring16:29 - Data Fusion and Ecosystem Variations19:27 - Blue Carbon and Mangrove Restoration25:08 - Challenges in Blue Carbon Projects28:56 - Estimating Below Ground Carbon31:14 - Kumi's Approach to Mangrove Restoration34:26 - Collaboration with Private Developers36:24 - The Future of Digital MRV40:23 - Interoperability and Standardization in Carbon Markets46:08 - Conclusion and Key Insights

  14. 39

    A third of a century in carbon: A special episode with Marc Stuart - Allotrope Partners

    In this episode of This Week in Carbon, host Edward Smith and regular guest Rene Velasquez sit down with Marc Stuart, founding managing partner of Allotrope Partners. He shares his extensive journey in the carbon markets, beginning in 1993 and leading to the founding of EcoSecurities. He discusses the evolution of carbon markets, the challenges faced during boom and bust cycles, and the intersection of compliance and voluntary markets. Marc emphasizes the importance of decarbonizing supply chains for corporates and the role of storytelling in the voluntary market. He also highlights the potential of digitalization and AI in improving efficiency in carbon credit issuance, while acknowledging the complexities of agriculture in decarbonization efforts.Key takeaways:• Marc Stuart's journey in carbon markets began in 1993 during his PhD.• EcoSecurities was founded to create a third-party certification system for carbon credits.• The carbon market has experienced significant boom and bust cycles due to supply and demand imbalances.• Compliance markets are evolving, and there's a growing intersection with voluntary markets.• The future of carbon markets will depend on consistent demand signals and innovative financial instruments.• Decarbonizing supply chains is crucial for large corporates in the current market.• The role of third-party ratings in carbon projects is complex and evolving.• Digitalization and AI are expected to improve efficiency in carbon credit issuance.• The agriculture sector presents unique challenges for decarbonization efforts.• The importance of storytelling in the voluntary carbon market cannot be underestimated.

  15. 38

    Indigenous-Led Conservation: The Amazon Outcome Bond Explained - Gerald Prolman

    In this episode of This Week in Carbon, host Edward Smith and weekly guest Rene Velasquez, sits down with Gerald Prolman, Executive Chairman of Everland, who brings decades of experience in carbon markets to the conversation. They dive deep into the groundbreaking Indigenous Amazon Outcome Bond—a innovative initiative designed to channel upfront capital into Indigenous-led forest conservation projects across the greater Amazon. The discussion covers Everland's critical role in supporting and marketing these high-integrity REDD+ efforts, the often polarizing impact of media narratives on voluntary carbon markets, and the enduring potential of REDD+ as a powerful tool against climate change. Gerald highlights the essential role of community leadership and benefit-sharing, the urgent need for immediate action to safeguard the world's remaining forests, and the rapidly evolving dynamics of carbon credits in today's market. Takeaways ·       Gerald Prolman has over 46 years of experience in sustainability.·       Everland connects forest communities with capital for conservation projects.·       The Indigenous Amazon Outcome Bond aims to fund indigenous-led projects.·       Media narratives have significantly impacted the perception of carbon markets.·       REDD+ projects are essential for immediate climate action.·       Trust and transparency are crucial for the success of carbon markets.·       Indigenous communities play a vital role in forest conservation.·       The future of carbon markets will involve both avoidance and removals.·       Equitable Earth was created as a response to market challenges.·       Indonesia's approach to carbon markets may serve as a model for other countries.If you would like to watch the full video of the concert, you can find it here: https://www.youtube.com/watch?v=jSRE5Lv60q4&t=9s

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    From Corporate Funds to Policy Signals and CDR Reality - Robert Höglund

    In this episode of This Week in Carbon, hosts Edward Smith and Rene Velasquez are joined by Robert Höglund, manager of the Milkywire Climate Transformation Fund, co-founder of CDR.fyi, and policy advisor on carbon removal (including SBTi and EU expert groups).Robert brings deep expertise from his NGO background to managing one of the most catalytic corporate climate funds, sharing candid insights on scaling impact across durable CDR, decarbonization, and nature protection.We discuss: • Robert’s journey: From Oxfam climate policy to co-founding CDR.fyi and leading Milkywire’s fund • Milkywire Climate Transformation Fund: $17M+ allocated across 60+ projects, catalytic pre-purchases, and internal carbon fees • 2025 CDR trends: VC slowdown, concentrated buyers (Microsoft dominance), and the gap between needed scale and financing reality • Corporate demand dynamics: Push for near-term operational net-zero, scope 1-2 incentives, and why long-term arguments fall flat with CFOs • Removals vs. reductions debate: Durable CDR for willful fossil continuation (e.g., aviation), cost-effectiveness of avoidance/nature, and balanced portfolios • SBTi net-zero draft critique: Steps forward on beyond-value-chain mitigation but delays and weakening of durable CDR requirements • EU 2040 target & policy signals: Massive potential demand via international credits, buyers club prospects, and risks of delayed supply • Outlook & incentives: Tough years ahead for durable CDR, the need for labels/claims restoration, and barriers that must fall to avoid lost momentum Essential listening for anyone shaping corporate climate strategy or tracking carbon removal markets—this episode cuts through the hype with pragmatic analysis and forward-looking views.

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    Why Companies Are Doing More and Saying Less in 2025 - Dale Hardcastle and Henning Huenteler

    In this episode of This Week in Carbon, hosts Edward Smith and Rene Velasquez are joined by Dale Hardcastle (Partner, Bain & Company – Singapore, Energy Transition & Asia) and Henning Huenteler (Partner, Bain & Company – Amsterdam, Sustainability & Carbon Markets), two of the sharpest minds tracking corporate climate action and carbon markets globally. Coming off a chaotic 2025, Dale and Henning pull no punches on what actually changed this year—and what it means as we head into 2026.We discuss:• 2025 in review: from ESG backlash and Larry Fink’s silence to the biggest Climate Week ever and a surprisingly pragmatic COP30• Bain’s AI-powered analysis of 35,000+ CEO statements: sustainability mentions are down, but business-value framing has doubled since 2018• The global marginal abatement cost curve: ~25% of emissions already profitable to cut today, another ~33% get there by 2035• Policy whiplash: US 180° pivot, EU walking back overreach, Asia’s quiet but relentless march on energy security and green growth• AI’s terrifying power hunger: data centres potentially adding 800+ Mt CO₂e/year by 2035 and why efficiency gains aren’t even close to keeping up• Carbon removal reality check: 60 Mt of committed corporate demand by 2030 vs. only ~20 Mt credible durable supply without urgent off-take signals• The hyperscaler bottleneck: why Microsoft, Google, Stripe & co. can’t scale CDR alone—and what it really takes to unlock the next wave of buyers and capital• Asia’s emerging carbon-market leadership: Singapore’s hub ambitions, Indonesia reopening its market, Vietnam unlocking direct PPAs• 2030s outlook: the countdown to 2030 targets is now real for CEOs, the slow-but-steady maturation of carbon markets, and why both guests remain genuinely optimistic

  18. 35

    Forests, REDD+, and the Future of Nature-Based Solutions – Naomi Chloe Swickard

    In this episode of This Week in Carbon, host Rene Velasquez (filling in for Edward over Thanksgiving) is joined by Naomi Chloe Swickard – a 20-year veteran of the carbon and conservation space, former leader of Verra’s REDD+ program, architect of the world’s first jurisdictional REDD+ framework, and key contributor to the new consolidated VM0048 methodology. Naomi delivers a candid, insider masterclass on where forests and carbon markets actually stand at the end of 2025, why progress is happening outside COP, and what it will really take to scale high-integrity nature-based solutions.We discuss:• Naomi’s unexpected entry into the market (a chance meeting at a bar in Thailand) and two decades shaping REDD+• COP Berlin (“the Forest COP”) debrief: symbolic wins, missed opportunities, and why the real action is now beyond the UNFCCC• The capitalism paradox: growth vs. climate, tragedy of the commons, and the lack of enforcement teeth• REDD+ evolution: from VM0007 to VM0048, jurisdictional nesting, risk-map allocation, and the first issuances finally landing• Market reality check: delayed supply, ICVCM approval, green-hushing, and quiet rebuilding of demand• Project vs. jurisdictional REDD: why both are essential and must co-exist indefinitely• The permanence debate, the integrity-vs-scale trap, and why “perfect” is preventing near-term climate impact• Standing-forest protection vs. the removals renaissance: where capital is flowing and where it’s still missing• Clarity gaps: SBTI’s new guidance, Article 6.2 momentum, debt-for-nature swaps, and emerging financing models• 2026–2030 outlook: jurisdictional acceleration, blue carbon & peatlands, contribution claims, and the turbulent road to a workable, scalable market

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    From Skype to Smallholders: Equilibrium on the Next Carbon Boom - Sid, Sri and Neelesh

    In this episode of This Week in Carbon, hosts Edward Smith and Rene Velasquez are joined by Siddhanth Jayaram, Sricharann Seshadri and Neelesh Sachdeva, co-founders of Equilibrium, together with a legendary surprise appearance from carbon market OG Nick D’Alleva (co-founder of APX/Vera). From late-night Skype auctions worth millions to building India’s most diverse high-integrity removal portfolio — this one’s packed with history and forward vision.We discuss: • Surprise drop-in from Nick D’Alleva: Wild stories from the early VCM days, near-miss million-dollar transfers, and why he’s calling the end of the 2022–2025 down-cycle • Nick’s market forecast: Next explosive up-cycle starts late 2026, peaks 2028–2030 — bigger than 2020–2022 — driven by lower rates, removal demand, and high-quality supply • Equilibrium’s origin story: Two ex-VC/finance guys betting everything on smallholder-led carbon removal in India • Going full-stack: How they layered capital markets thinking + carbon science + on-ground ops with 125 million smallholder farmers at the core • Portfolio deep-dive: Regenerative ag (VM42), agroforestry (VM47), mangroves (VM33), biochar (Puro + Isometric), and live enhanced rock weathering pilots • Why tech alone failed on integrity — and what actually works • Capital stack wars: Inverted pyramid vs. forest ecosystem metaphors, blended finance breakthroughs, and India’s first major USAID-backed CDR transaction • Registry evolution: For-profit registries (Isometric, Puro, Rainbow) forcing innovation and better developer experience • Buffer pools need a full rethink — insurance as buyer of first resort? • Voluntary → compliance bridging: Who bears liability when credits go compliance-eligible? • The massive Series A/seed funding gap in carbon — and how Equilibrium convinced top-tier VCs anyway • Advice to buyers still on the sidelines: “Shoot bullets now before you have to fire cannons later” • Why early corporate action today is the smartest risk-mitigation play for tomorrow’s compliance reality.

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    Scaling Carbon Liquidity: From LNG Lessons to Global Infrastructure - Melissa Lindsay

    In this episode of This Week in Carbon, host Edward Smith is joined by Melissa Lindsay, Founder & CEO of Emstream and Emsurge, a veteran with over a decade broking LNG and building trading platforms. Melissa shares her journey from LNG’s infancy to pioneering wholesale infrastructure for carbon markets, offering a deep dive into the challenges and opportunities shaping liquidity and market maturity.We discuss: • Melissa’s career path: From Global head of LNG at Tullett Prebon to launching Emsurge and pivoting into carbon amid COVID • LNG-carbon parallels: Physical-to-financial evolution, index-linked pricing, and off-take structures • Market dynamics: Oversupply vs. demand, “art market” pricing, vintage decay, and charismatic credit trends • Infrastructure innovation: Hybrid platform with real-time bids/offers, broker facilitation, and agnostic settlement • Tech partnerships: Calyx/Sylvera ratings filters, automated KYC, and front-end marketplaces for Africa • Article 6 operationalization: Host-country LOAs, corresponding adjustments, and non-NDC project vacuums • CBAM catalysis: Upstream carbon taxes in Africa/Asia and protectionism’s rise • 2030 outlook: M&A consolidation, CORSIA/J-REDD dominance, futures indices, and AI-driven DMRV-to-marketplace

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    Race to the Top? Inside Carbon Market Integrity & Scale - Chris Leeds

    In this episode of This Week in Carbon, hosts Edward Smith and Rene Velasquez are joined by Chris Leeds, Head of Carbon Markets Development at Standard Chartered Bank and board member of the Integrity Council (ICVCM) — a 20-year veteran who helped launch the EU ETS and co-founded Climate Impact X.Chris delivers a masterclass on scaling carbon markets with integrity, finance, and policy. We discuss: • Chris’s journey: From trading CDM credits at Merrill Lynch to supporting Standard Chartered’s CEO on the Taskforce to Scale Voluntary Carbon Markets • ICVCM’s Core Carbon Principles (CCPs): The “two-tick” assessment driving a race to the top amid proliferating standards (Gold Standard, GCC, Puro, Isometric, and more) • Blurring voluntary & compliance lines: Singapore’s tax offset, EU ETS crediting mechanisms, and the shift to “project-based” (not voluntary) credits • Standardization as rocket fuel: Why fungible contracts, indices, and liquid secondary markets unlock institutional debt at 70% LTV• Bankability unlocked: Off-take agreements, portfolio aggregation, and turning carbon projects into infrastructure-grade assets (not VC bets) • Finance masterclass: Debt needs revenue certainty — fixed-price/floor offtakes, digitized MRV, and replacement cost clauses for risk management • Asia’s carbon boom: Singapore’s deliberate ecosystem, Indonesia’s presidential decree, Vietnam’s dual supply/demand play, and China’s 5GT ETS eyeing international credits • Global momentum: Brazil, Japan (GX League → ETS), Australia, and the Coalition to Grow Carbon Marketslaunching shared principles at COP • Cost-effective abatement: Why chasing $200/ton in Europe is illogical — methane, avoided deforestation, and clean cooking need priority • Scale & speed: Forward purchase agreements, private sector filling the $1.3T gap, and carbon as a proxy for biodiversity & nature finance• Market resilience: Surviving hype cycles, entering the slope of enlightenment, and gearing up for 2030 demand surge

  22. 31

    Navigating the Carbon Frontier: Unlocking Climate Action - Alfredo Nicastro

    In this episode of This Week in Carbon, hosts Edward Smith and Rene Velasquez are joined by Alfredo Nicastro, Global Head of Carbon Solutions at StoneX, a veteran with over 20 years in climate finance and carbon markets. Alfredo shares his journey from a civil and environmental engineer in Brazil to a leader in global carbon solutions, offering a deep dive into the challenges and opportunities shaping decarbonization and market evolution.We discuss:  Alfredo’s career path: From Brazil’s hydropower and waste management to shaping carbon markets at StoneX Decarbonizing supply chains: Growing buyer pressure for carbon-neutral commodities like cotton and clothing Insetting vs. offsetting: Why agriculture and metals lean toward insetting, with offsets for residual emissions Carbon pricing evolution: From 10 instruments in 2005 to 80 covering 28% of global emissions in 2025 Policy insights: Chile’s carbon tax model, the need for price transparency, and risks of fragmented regulations Article 6 progress: Optimism for 6.2 bilateral agreements and hopes for 6.4 clarity at COP30 Climate urgency: Breaching 1.5°C early, AI-driven energy demands, and the need for tech-based solutions like methane capture Market maturity: Portfolio-based risk management, ratings, insurance, and CORSIA’s looming supply short squeeze

  23. 30

    Varaha's CDR explosion : Google, Louis Dreyfus & India Scale - Madhur Jain & Ikarus Janzen

    In this episode of This Week in Carbon, we speak with Madhur Jain, Co-Founder & CEO, and Ikarus Janzen, Co-Founder & Chief Commercial Officer of Varaha—one of the top 3 global suppliers of high-quality CDR credits in 2025 (per CDR.FYI). They share how Varaha scaled to profitability in just 3.5 years across 4 CDR pathways, delivered 100,000+ tons of biochar, and landed landmark deals with Google and Louis Dreyfus. We explore India’s emergence as a CDR superpower, the insetting revolution for resilient supply chains, and why traction follows traction in smallholder agriculture.We discuss: Founder journeys from VC and agribusiness to building a 200-person CDR powerhouse CDR market segments: legacy avoidance vs. nature-based vs. durable removals (and Varaha’s unique 4-pathway edge) How deep ag expertise + digital MRV unlocked rapid scale amid 6-14% yield drops from climate chaos The Google biochar bombshell: 100K tons by 2030 from India’s 100M tons of waste biomass Louis Dreyfus’ first-of-its-kind insetting deal: 5-year wheat resilience + premiums for sustainable cotton (15¢/t-shirt) Buyer pressures: Shareholder ESG targets + consumer premiums fueling food/textile insetting Farmer realities: Droughts, geopolitical food crises, and turning mitigation funds into adaptation wins India’s 2030 vision: Vast land, cheap solar, and basalt riches positioning it as the world’s CDR hub

  24. 29

    Scaling CDR: Record Markets, Policy Shifts, and the Future of Carbon Removal - Sebastian Manhart

    In this episode of This Week in Carbon, host Edward Smith and co-host Rene Velasquez are joined by Sebastian Manhart, Senior Policy Advisor at Carbon Future and co-host of the CDR Policy Scoop podcast, to explore the rapidly evolving world of Carbon Dioxide Removal (CDR). Sebastian shares his journey from social entrepreneurship to advising Angela Merkel’s chancellery, highlighting Carbon Future’s mission to build trust infrastructure for a scalable CDR market through robust monitoring, reporting, and verification (MRV). The discussion dives into record-breaking CDR market growth, Europe’s delayed climate targets, and groundbreaking national policies, offering a deep dive into the numbers, politics, and future of CDR. We discuss:• The CDR market’s historic Q2 2025, driven by Microsoft’s mega-deals and growing corporate demand• Risks of market concentration and the need for compliance markets to ensure long-term stability• Europe’s 2040 climate target delays and the significant role of international offsets under Article 6• The UK’s 15-year Contracts for Difference (CFDs) and Germany’s €500M CDR investment by 2033• Overcoming environmentalist skepticism and the mainstreaming of CDR as a critical climate solution

  25. 28

    The Carbon Paradox: Renat Heuberger & Steve Zwick on Climate Finance and Storytelling

    In this episode of This Week in Carbon, host Rene Velasquez sits down with Renat Heuberger and Steve Zwick to discuss their new book, The Carbon Paradox, and its unique approach to unraveling the complexities of carbon markets. Recorded ahead of New York Climate Week 2025, this conversation delves into the power of storytelling to make the nuanced challenges of climate finance accessible and engaging.Key Highlights:• The genesis of Carbon Paradoxes, sparked by Renat’s reflections in Bali amidst 2023’s carbon market controversies.• How the book’s fictional narrative brings to life 25 paradoxes, from ethical dilemmas to control tensions, making complex concepts resonate emotionally.• The collaborative writing process, where characters took on lives of their own, guiding the authors to an authentic and impactful story.• Upcoming book launches at the Brooklyn Book Festival (September 21, 2025) and a “Cocktails and Carbon” event in Manhattan (September 22, 2025), plus university talks at Columbia and Johns Hopkins.Topics Discussed:• The importance of storytelling in bridging the gap between technical carbon market debates and public understanding.• The control paradox: balancing governance and autonomy in carbon projects, and why it’s a universal challenge in climate finance.• Addressing the “Groundhog Day” cycle of recurring controversies by openly confronting paradoxes and fostering constructive dialogue.• Inspiring the next generation of climate leaders through relatable characters and a hopeful vision for scaling carbon markets.Join us for an insightful discussion on how Carbon Paradoxes aims to break the cycle of criticism, engage a broader audience, and spark a rebirth of the carbon market dream. Perfect for anyone interested in climate solutions, storytelling, or the future of sustainable finance! Amazon link for those interested in purchasing the book:https://www.amazon.com/Carbon-Paradox-Renat-Heuberger/dp/1637777507/ref=sr_1_1?crid=4PVT6T2THI50&dib=eyJ2IjoiMSJ9.vWXYbnAfKTU0r-yGOhe6DNRbEDz6OhBXKdCrfqGCYmdDISuk6Amc6lWm5_Hp6nzHEJKcZLJy1G3kAyAnOh8rqlHptwdDxh4DhBrA25EgzlZsoEJhkTm3Ve_AZSRZ7bXUCkdzG4vXBUN59G3WpUF2flG3VNELogt0suqsfFq4B4xcWQkfSQUCet9ebGVLbxvwtOJ2F9quE7NFmVteYHawxwttad5JrG13j4CdU7NqYwY.KXs0uvRJiTUqj3RoWy_W31QoBTdh3f-ccMMs2nT_b0c&dib_tag=se&keywords=carbon+paradoxes&qid=1758221490&sprefix=carbon+paradoxes%2Caps%2C319&sr=8-1 More information on the upcoming launches can be found below:https://carbonparadox.org/book/events/

  26. 27

    Scaling Natural Capital - with Phoebe Scott, Climate Asset Management

    In this episode of This Week in Carbon, host Edward Smith engages in a compelling discussion with Phoebe Scott from Climate Asset Management (CAM) about the evolving landscape of natural capital and carbon markets. Edward explores Phoebe’s expertise in climate finance and her leadership in fostering inclusivity in the industry.Key Highlights:• Phoebe’s journey from investment banking to CAM, driven by a passion for ESG and natural capital investing.• CAM’s dual strategies: a nature-based carbon strategy generating credits in the Global South and a natural capital strategy focusing on agriculture and forestry in the Global North.• The role of blended finance in de-risking projects to attract institutional capital and scale nature-based solutions.• The rapid growth of Women in Carbon, a global initiative co-founded by Phoebe, now spanning over 10 chapters worldwide.Topics Discussed:• The challenges of scaling natural capital as an institutional asset class, including market fragmentation and liquidity issues.• How carbon markets enhance the bankability of nature-based projects by diversifying revenue streams and mitigating climate risks.• The importance of voluntary market initiatives like ICBCM and VCMI in building trust and ensuring credit and claim integrity.• The impact of Women in Carbon in empowering women through networking, knowledge sharing, and global community-building.Join us to discover how CAM is seeking to drive institutional capital into natural solutions and how Phoebe’s leadership is shaping a more inclusive carbon industry.

  27. 26

    Verra & Hedera Rewire Carbon Markets: Blockchain's Impact - Joe Dell'Orfano & Wes Geisenberger

    In this episode of This Week in Carbon, host Rene Velasquez dives into the future of carbon markets with Joe Dell'Orfano from Verra and Wes Geisenberger from the HBAR Foundation. They discuss Verra’s groundbreaking shift to a next-generation registry infrastructure with S&P Global Commodity Insights, powered by Hedera’s blockchain technology. This partnership is set to transform the carbon market by replacing static PDFs with machine-readable, transparent, and auditable digital systems. Key Highlights: • Verra’s move away from its long-term registry partner APX to a new system focused on digitization and interoperability. • How Hedera’s blockchain creates an immutable audit trail, streamlining project onboarding, methodology digitization, and long-term monitoring. • The potential for real-time data insights, from satellite monitoring to financial traceability, to boost market confidence and liquidity. • Addressing double counting and interoperability with other carbon markets, including compliance systems and Article 6 frameworks. Topics Discussed: • The role of Verra’s Project Hub in digitizing methodologies and enabling real-time project tracking. • How blockchain enhances transparency and trust, benefiting stakeholders like project developers, buyers, and rating agencies. • The vision for a scalable carbon market with standardized data, supporting everything from voluntary credits to national registries. • Financial integrity in carbon projects, including tracing funds from forward contracts to community impacts. Join us to explore how Verra and Hedera are laying the digital rails for a more transparent, efficient, and scalable carbon market.

  28. 25

    Why Carbon Credits Aren’t Commodities - Stuart Rowland (CEO, Revalue)

    In this episode of This Week in Carbon, we sit down with Stuart Rowland, CEO of Revalue, to unpack why the voluntary carbon market needs a radical shift in how we think about credit quality.Stuart shares his journey from physics to climate entrepreneurship and explains why treating all credits as “the same” undermines trust, value, and impact. Instead, he argues for a new mental model: one where credits are judged on rigor, outcomes, and integrity.You’ll learn about:- Why carbon credits vary so widely in quality — and why that matters.- What it will take to build real trust and confidence in outcomes.- How ecosystem-based credits can scale responsibly without sacrificing integrity.

  29. 24

    Revolutionising Carbon Markets: The Power of Ratings and Integrity - Donna Lee and Duncan van Bergen

    In this episode of This Week in Carbon, we explore the evolving voluntary carbon market (VCM) with insights from experts in carbon credit ratings, Donna Lee and Duncan van Bergen. The VCM is shifting from heuristic-based to data-driven decisions, with ratings agencies enhancing transparency and integrity. Despite challenges like baseline accuracy, embodied emissions, and a focus on in-setting, the market is maturing through better methodologies, digital tools, and education. By 2030, the VCM should be a robust, digitised climate tool, prioritising impact over perfection.We discuss:• The role of transparent, data-driven ratings in assessing carbon credit quality and impact• The shift from heuristic-based to evidence-based decision-making in the VCM• The growing price premium for high-quality credits and challenges with baseline accuracy in nature-based projects• The importance of balancing corporate emissions reduction with carbon credit purchases• The potential of digitised infrastructure and market maturity to drive climate impact by 2030

  30. 23

    Unveiling the Future: Carbon Markets, Durable Removals, and Climate Policy Shifts - Margaret Morales

    New episode with Margaret Morales, Director of Carbon at Trellis Group.In this episode of This Week in Carbon, we dive into the evolving landscape of carbon markets and climate solutions with our expert guest, Margaret Morales. The discussion explores the shift toward corporate sustainability, the surge in durable carbon removal projects, and the critical role of policy in shaping the future of climate finance. From market dynamics to innovative financing, we unpack the challenges and opportunities ahead.We discuss:·      The rise of corporate buyers in the voluntary carbon market·      Microsoft’s record 7.6M-ton durable removal purchase and its market impact·      The growing demand for durable vs. nature-based carbon removals·      Challenges in financing early-stage carbon projects·      The implications of Article 6 regulations and nature-based solutions

  31. 22

    How Wildlife Works Became the First REDD+ Project and Changed Forest Finance - Mike Korchinsky

    In this episode of This Week in Carbon, we speak with Mike Korchinsky, founder of Wildlife Works and a pioneer of REDD+.Mike shares the remarkable origin story of Wildlife Works, how it became the first REDD+ project certified under Verra, and what it took to bring market-based conservation to life—long before carbon finance was mainstream. We explore the early conflicts between wildlife and communities in Kenya, the role of the private sector in scaling solutions, and the current state of the carbon market.We discuss:- How human-wildlife conflict led to a market-based solution- The creation of the first REDD+ methodology under Verra- Why philanthropy and government alone won’t solve deforestation- Market criticism, reform, and what went wrong with baselines- The rise of Equitable Earth and what comes next for forest finance

  32. 21

    Rebuilding Carbon Markets: Verra’s CEO on What Needs to Change - Mandy Rambharos

    What happens when the most powerful standard-setter in carbon markets tries to reform the system from the inside?In this episode, we speak with Mandy Rambharos, the new CEO of Verra, at a pivotal moment for the voluntary carbon market. Public trust is low, market rules are under pressure, and project developers are struggling to navigate layers of complexity.Mandy reflects on what she found when she joined Verra, the hard questions she’s asking internally, and where real change is actually possible.In this episode:- Why Verra needs to listen more to people on the ground- What’s broken about the way methodologies are made- The growing gap between buyers’ expectations and project realities- Why the system became more about consultants than communities- What a fairer, simpler, and more effective carbon market could look like

  33. 20

    Carbon Scarcity, Market Linkage, and the Next Chapter of Climate Finance - Mark Lewis

    Veteran carbon market analyst Mark Lewis joins This Week in Carbon to break down why the EU ETS is unlike any other market—and why it's entering a long-term bullish phase.We cover:- Why the EU ETS has no natural sellers- How shrinking supply is driving long-term price. - The coming impact of ETS2 (carbon pricing for households)- The UK-EU ETS linkage and arbitrage opportunities- How carbon prices are becoming the new cost of capital for industry- Why hedge funds and equity analysts are treating EUAs like a macro asset- The future of Article 6, Corsia, and voluntary market convergence

  34. 19

    Decarbonizing Flight: Book & Claim, SAF, and the Future of Aviation - Kennedy Ricci

    Can aviation decarbonize faster than the rest of the economy?In this episode, we sit down with Kennedy Ricci, President of 4AIR, to explore how sustainable aviation fuel (SAF), book & claim systems, and tax incentives are reshaping how we fly—and how we account for emissions.Kennedy explains how book & claim could be a game-changer for SAF: allowing fuel to be produced and delivered where it's most efficient, while enabling buyers around the world to claim the climate benefit. It's the aviation equivalent of RECs (renewable energy certificates)—and it may be the most scalable path forward.We also dive into the emerging SAF tax credit landscape, how voluntary markets are pioneering the tools regulators will one day adopt, and why aviation is uniquely positioned to become a proving ground for net zero logistics.✈️ Topics covered:How book & claim works—and why it matters for SAFWhy business aviation is leading SAF adoptionThe role of voluntary markets in shaping future regulationHow 4AIR is helping aviation buyers and operators take climate action nowWhether you're in climate tech, policy, or aviation, this episode is packed with insight on how to scale real impact.

  35. 18

    Scaling Forest Protection: ERS, Equitable Earth, and the Future of REDD+ - Thibault Sorret

    In this episode, Thibault Sorret, CEO of ERS (Ecosystem Restoration Standard), joins us just days after some major developments:🌳 ERS has acquired Equitable Earth, a REDD+ forest conservation standard built by a coalition including Wildlife Works, Forest Trends, and Everland.✅ The ERS Programme has been officially approved under the ICVCM’s Core Carbon Principles, marking a major milestone in quality and credibility for nature-based carbon.Thibault reflects on how a recent site visit to a REDD+ project changed his view of conservation — not just as a carbon accounting exercise, but as real, visible frontline climate work. From active ranger patrols to agroforestry programs, he describes what it looks like when these projects truly work — and why scaling them is urgent.🎙️ In this episode:What made Equitable Earth the right fit for ERSHow to bridge the credibility gap in REDD+Why consolidation (not fragmentation) is what carbon markets needAnd how conservation and restoration can — and must — scale togetherIf you're wondering what high-integrity conservation looks like in practice — and how the carbon market can better support it — this is the conversation.

  36. 17

    The Maturing Carbon Market: Carbon Pricing, Removals & Risk in 2025 - Magnus Drewelies

    Carbon markets are evolving fast — but is the demand side keeping up?In this episode, Magnus Drewelies (Founder & CEO of Ceezer) joins Edward and Rene to unpack key insights from the World Bank’s 2025 State and Trends of Carbon Pricing report and explore what’s really happening in carbon credit markets.We discuss the rapid rise of carbon removals, especially nature-based solutions — and the shift toward forward purchases and long-term offtakes. But as Magnus explains, this isn’t a supply problem. The real constraint is on the buyer side: price uncertainty, unclear rules, and fragmentation are slowing scale.Also in this episode:- The Vietnam ETS and the return of offsets in compliance markets- What nearly 1 billion unretired credits mean for price confidence- Institutional capital: what’s blocking it, and how to unlock it- Why market maturity depends on more than just better MRV

  37. 16

    What If We Miss 1.5°C? Carbon Markets in a 3-Degree World

    Every week, Edward Smith invites carbon market enthusiasts for a call to discuss the biggest news stories of that week. For this episode of This Week in Carbon, moderator Edward Smith welcomed Rene Velasquez, Stefano De Clara, and Vinay Kulkarni.This week, we zoom out to ask a hard question: Are we building carbon markets for a world that’s already on track to miss 1.5°C?To unpack that, Edward Smith is joined by Stefano De Clara (ICAP) and Vinay Goyal (Thryve.earth) — two of the clearest voices on the intersection of policy, pricing, and market architecture. In this conversation, we cover:- Why 2025–2030 is a make-or-break window for real mitigation- What market tools will look like in a 3°C scenario — and how to prepare now- How voluntary and compliance markets might finally converge (and what’s in the way)- Why multilateralism still matters, and what could go wrong without itWelcome to the Carbon Exposure Project

  38. 15

    Who Will Buy? Forest Carbon at a Crossroads - Elizabeth Aldrich

    Every week, Edward Smith invites carbon market enthusiasts for a call to discuss the biggest news stories of that week. For this episode of This Week in Carbon, moderator Edward Smith welcomed Rene Velasquez and Elizabeth Aldrich.Together, they unpack a critical moment for the voluntary carbon market—where trust is low, demand is uncertain, and integrity is under pressure. Lizzie Aldrich shares her frontline experience as one of the few people actually deploying large-scale capital into forest carbon, offering sharp insight into what’s working, what’s stalling, and what needs to change.The episode covers:Why corporate buyers are pulling back—and what it means for project developersThe real-world challenges of Article 6 implementation, from authorization bottlenecks to host country riskThe growing importance of trust, safe harbor protections, and clarity for market actorsThe gap between ambition and financing on the groundWhy data is powerful—but relationships are still at the heart of integrityThis is a grounded, field-informed conversation that cuts through the noise and focuses on what really matters for scaling high-integrity climate action.Welcome to the Carbon Exposure Project.Articles: https://www.ecosystemmarketplace.com/... https://www.ieta.org/resources/papers...

  39. 14

    This Week In Carbon - Episode 13

    Every week, Edward Smith invites carbon market enthusiasts for a call to discuss the biggest news stories of that week. For this episode of This Week in Carbon, moderator Edward Smith welcomed Abraham Robertson and Olivier Lejeune

  40. 13

    This Week In Carbon - Episode 12

    Every week, Edward Smith invites carbon market enthusiasts for a call to discuss the biggest news stories of that week. For this episode of This Week in Carbon, moderator Edward Smith welcomed Thibault Sorret and Judith Simon

  41. 12

    This Week in Carbon - Episode 11

    Every week, Edward Smith invites carbon market enthusiasts for a call to discuss the biggest news stories of that week. For this episode of This Week in Carbon, moderator Edward Smith welcomed Rene Velasquez and Jean de Barrau de Muratel

  42. 11

    This Week In Carbon - Episode 10

    Every week, Edward Smith invites carbon market enthusiasts for a call to discuss the biggest news stories of that week. For this episode of This Week in Carbon, moderator Edward Smith welcomed Rene Velasquez and Stephanie Zhu

  43. 10

    This Week in Carbon - Episode 9

    Every week, Edward Smith invites carbon market enthusiasts for a call to discuss the biggest news stories of that week. For this episode of This Week in Carbon, moderator Edward Smith welcomed Rene Velasquez and Brennan Spellacy

  44. 9

    This Week In Carbon - Episode 8

    Every week, Edward Smith invites carbon market enthusiasts for a call to discuss the biggest news stories of that week. For this episode of TWIC, moderator Edward Smith welcomed Rene Velasquez and Nathan Truitt

  45. 8

    This Week In Carbon - Episode 7

    Every week, Edward Smith invites carbon market enthusiasts for a call to discuss the biggest news stories of that week. For this episode of TWIC, moderator Edward Smith welcomed Rene Velasquez, Steve Zwick, and Renat Heuberger.

  46. 7

    This Week In Carbon - Episode 6

    Every week, Edward Smith invites carbon market enthusiasts for a call to discuss the biggest news stories of that week. For this episode of TWIC, moderator Edward Smith welcomed Rene Velasquez, Rich Gilmore, and Chris Halliwell.

  47. 6

    This Week In Carbon - Epsiode 5

    Every week, Edward Smith invites carbon market enthusiasts for a call to discuss the biggest news stories of that week. For this episode of TWIC, moderator Edward Smith welcomed Rene Velasquez, Juan Duran, and Wei Mei Hum.

  48. 5

    This Week In Carbon - Episode 4

    Every week, Edward Smith invites carbon market enthusiasts for a call to discuss the biggest news stories of that week. For this episode of TWIC, moderator Edward Smith welcomed Rene Velasquez and Andrea Rumignani.Welcome to This Week In Carbon!

  49. 4

    This Week In Carbon - Episode 3

    Every week, Edward Smith invites carbon market enthusiasts for a call to discuss the biggest news stories of that week. For this episode of TWIC, moderator Edward Smith welcomed the crbn.trade team: Rene Velasquez, Akash Swamynathan, and Olaf VerweijWelcome to This Week In Carbon!

  50. 3

    This Week In Carbon - Episode 2

    Every week, Edward Smith invites carbon market enthusiasts for a call to discuss the biggest news stories of that week. For the first episode of TWIC, moderator Edward Smith welcomed Rene Velasquez, Nathalie Flores, and Monica De Oliveira.Welcome to This Week In Carbon!

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ABOUT THIS SHOW

Welcome to This Week in Carbon, your go-to podcast for all things related to the dynamic world of carbon markets. Join moderator Edward Smith and his weekly guests as they delve into the latest news, emerging trends, and evolving regulations shaping the carbon landscape.

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