In this week’s episode, host Daniel Raimi talks with Stefano De Clara, head of secretariat at the International Carbon Action Partnership, about the continued development of emissions trading systems around the world in 2024. Emissions trading systems (ETSs) are market-based policies that set a cap on total greenhouse gas emissions or on a ratio of emissions to output (e.g., of generated electricity or manufactured steel). A limited number of emissions permits are auctioned or distributed in carbon markets, and emitters can then trade these permits within the market. De Clara discusses global trends in the development of carbon markets and trading systems, including innovative policy designs, and highlights emissions trading systems in the European Union, China, Latin America, Indonesia, and Canada. References and recommendations: “Emissions Trading Worldwide: 2024 ICAP Status Report” from the International Carbon Action Partnership; https://icapcarbonaction.com/en/publications/emissions-trading-worldwide-2024-icap-status-report “Silent Spring” by Rachel Carson; https://www.rachelcarson.org/silent-spring