This Week in Carbon

Margaret Morales, Director of Carbon at Trellis Group, guides corporate sustainability efforts in the carbon market, while Matt Udberg, Partner at Valterra, offers insights on market trends. They discuss the unprecedented rise in corporate buyers, exemplified by Microsoft’s massive carbon removal investment. Challenges in financing early-stage carbon projects are addressed alongside the critical role of policy regulations. The importance of quality in carbon credits is emphasized, highlighting a shift towards durable removals over traditional methods.

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

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

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

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.

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.

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

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

Elizabeth Aldrich, a carbon markets expert at A New Climate with a Ph.D. in early carbon markets, shares her insights on the current state of voluntary carbon markets. She discusses the decline in corporate buyer confidence and what it means for project developers. Aldrich highlights real-world challenges, such as regulatory bottlenecks and the need for trust in the market. She emphasizes the importance of relationships and transparency in scaling high-integrity climate action, while exploring the complexities of carbon transaction dynamics.

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