Currently markets determine most of what happens around us. But markets have no morals: everything is up for grabs. If you have the money, you can turn wetlands, forests, or any other biodiversity rich areas into mono-cultural agricultural lands, human habitats, or mines in the name of development. But can we and should we compensate this by making the developers pay for biodiversity conservation somewhere else? This is the central question around biodiversity offsetting and in his research, Sophus zu Ermgassen has been keen to understand if it is possible to design nature markets in a way that satisfies both ecological and financial objectives, and if not, what the alternative is. Sophus co-hosted Season 2 of Economics for Rebels and has asked his guests many exciting questions. In this opening episode to Season 3 we get to hear Sophus also as a guest. Edited by Aidan Knox.