Carbon Market Conversations: A Podcast by ICAP

The International Carbon Action Partnership
  • 5.0 (2)
  • Earth Sciences
  • Updated Monthly

This is Carbon Market Conversations: A Podcast by ICAP, giving insight into all things emissions trading and carbon pricing. Join our host Trevor Laroche-Theune as he meets with climate experts and practitioners in each episode to discuss their views on the latest emissions trading and carbon pricing developments and their impacts. Whether you are new to the conversation or a seasoned carbon pricing practitioner, ICAP's Carbon Market Conversations provides engaging discussions in an easily digestible format. Tune in to be part of the conversation driving positive change for our climate.

  1. 1d ago

    Scope Expansion of ETS: Design and Policy Challenges, with Dr. Theresa Wildgrube

    In this episode of ICAP’s Carbon Market Conversations, host Trevor Laroche-Theune sits down with Dr. Theresa Wildgrube (ICAP Senior Carbon Market Expert) for a behind-the-scenes conversation on ICAP’s recently published paper Scope Expansion of Emissions Trading Systems: Design and Policy Challenges, co-authored by Trevor, Theresa, and ICAP colleague Andrés Olarte. As emissions trading systems continue to mature and expand across the globe, a growing number of jurisdictions are asking what comes after launch, and for many, the answer involves broadening or deepening the scope of their ETS. This episode walks through the paper's core findings: the concrete design challenges jurisdictions face when expanding ETS boundaries, and the political and policy dynamics that shape whether expansion happens at all, and how. Drawing on conversations with ICAP members actively navigating these questions, Theresa and Trevor reflect on the process of developing this work and the conclusions of the research.Breakdown of topics covered: 0:55 – Introduction to today’s topic and our guest 3:00 – Why a paper on scope expansion of ETS is particularly relevant at this time 4:25 – Scope and structure of the paper  5:50 – Broadening vs. deepening classifications and examples of scope expansion 6:55 – Design vs. policy challenges 8:45 – Discussion of design-side challenges and cases including considering design effects on existing covered entities and how to prevent double regulation 11:40 – Discussion of policy-side challenges and cases including political opposition from multiple angles and price effects on existing covered entities 17:40 – The role of clear and careful planning 19:35 – The importance of early implementation of MRV infrastructure 20:20 – Benefits of stakeholder consultations 21:40 – Upcoming ICAP work on ETS scope expansion 23:10 – Closing remarks Link to the ICAP paper Scope Expansion of Emissions Trading Systems: Design and Policy Challenges: https://icapcarbonaction.com/en/publications/scope-expansion-ets-design-and-policy-challenges

  2. Jun 30

    The Polish Perspective: Carbon Pricing, Just Transition, and the EU ETS, with Robert Jeszke

    In this episode of ICAP’s Carbon Market Conversations, host Trevor Laroche-Theune sits down with Robert Jeszke (Deputy Director for Emissions Management at the Institute of Environmental Protection – National Research Institute (IOŚ-PIB), and Head of Poland’s National Centre for Emissions Management (KOBiZE)) for a grounded look at how EU carbon pricing lands in Poland. Building on the EU ETS reform agenda and the rollout of EU ETS 2, the discussion explores how policy design translates into practice in Poland, from price signals and competitiveness to revenue use for the energy transition and cushioning social impacts. Robert sheds light on KOBiZE’s policy and operational work, the role of complementary measures, and what a “just transition” means in the Polish context. The conversation also examines deployment of EU funds, the significance of the Social Climate Fund, and how public acceptance is managed. We close with lessons other countries can draw from Poland’s experience and why reframing carbon pricing as a credible transformation contract may be key to the years ahead.Breakdown of topics covered: 0:55 – Introduction to today’s topic and our guest 3:10 – How EU ETS reforms translate to the Polish context 5:45 – Poland’s preparation for EU ETS 2 8:00 – KOBiZE’s role and the kinds of policy and operational questions Robert works on 11:05 – How the EU ETS price signal lands in the polish context given the economy and energy system structures 14:00 – Economic competitiveness 17:50 – ETS revenue allocation in Poland, including toward the energy transition and cushioning economic impacts 20:00 – Complementary policies 23:40 – Just transition in the Polish context 26:45 – Deployment of EU funds and examples of meaningful change taking shape 29:35 – Significance of the Social Climate Fund 33:40 – Managing the question of public acceptance 36:00 – Lessons other countries can learn from Poland’s engagement with the EU ETS 38:00 – Most important challenge for Poland, or countries in comparable situations, will face in the years ahead, and steps to confront it 38:00 – Shifting perception of carbon pricing to that of a credible transformation contract 42:10 – Closing remarks

  3. Jun 10

    Resilience and transformation: where emissions trading systems stand in 2026, with Iryna Holovko and Victor Alejandro Ortiz Rivera

    In this episode of ICAP’s Carbon Market Conversations, host Trevor Laroche-Theune is joined by ICAP Carbon Market Experts Iryna Holovko and Victor Alejandro Ortiz Rivera for a wide-ranging discussion on the state of emissions trading systems worldwide in 2026. Drawing on findings from ICAP's latest Status Report, the conversation charts the continued growth and resilience of carbon markets globally, from headline statistics and rising ETS revenues to the entry into force of new systems in Japan, India, and Vietnam. The episode examines how established systems such as those in California, the UK, and the EU have proven resilient. This episode also explores the emergence of next-generation hybrid and intensity-based ETS designs, before tackling cross-cutting issues shaping the field today, including competitiveness and carbon leakage risks, public acceptance and the use of ETS revenues, and international alignment. The episode closes with our guests and host sharing their perspectives on the developments to watch most closely in the year ahead. Access the full ICAP ETS Status Report here: https://icapcarbonaction.com/en/publications/emissions-trading-worldwide-icap-status-report-2026Breakdown of topics covered: 0:55 – Introduction to today’s topic and our guests  3:00 – ETS growth: key global statistics 4:50 – Increased ETS revenue 5:40 – New systems in force in Japan, India, and Vietnam 10:00 – Resilience of existing ETSs highlighting California, the UK, and the EU 12:20 – Next-generation ETS designs and the uptake of hybrid and intensity-based ETSs 14:40 – ETS uptake in G20 countries 16:30 – Managing competitiveness and carbon leakage risks,  19:20 – Public acceptance and the use of ETS revenues 20:55 – International alignment 22:50 – Areas to watch closely in the year ahead 26:15 – Closing remarks

  4. Jan 30

    India Carbon Credit Trading Scheme Deep-Dive with Saurabh Diddi

    In this episode of ICAP’s Carbon Market Conversations, host Trevor Laroche-Theune takes listeners on a deep-dive into the carbon pricing and climate policy landscape in India with expert guest, Saurabh Diddi, Director at the Bureau of Energy Efficiency within the Ministry of Power. This conversation focuses on the development and implementation of India’s Carbon Credit Trading Scheme (CCTS), specifically touching on how the system fits into India’s broader climate and energy strategies, key design features, and lessons other jurisdictions can learn from India’s experience. A more detailed breakdown of the topics explored and where you can listen to the episode is listed below.Breakdown of topics covered: 0:55 – Introduction to today’s topic and our guests  2:40 – Overview of India’s carbon market development journey 4:35 – How India’s Perform, Achieve, and Trade (PAT) Scheme experience informed the Carbon Credit Trading Scheme (CCTS) development 8:00 – The goals of the CCTS and how it fits into India’s broader climate and energy strategies incentivizing industry and voluntary market participation  9:30 – CCTS approach to scope 2 and scope 3 emissions and ensuring system integrity 12:20 – Relationship between the compliance market and the voluntary offset market 13:25 – Emissions targets 14:35 – Lessons emerging economies can learn from India’s experience developing the CCTS 18:20 – Benefitting from existing MRV infrastructure 19:50 – Energy auditing and verification 22:40 – Key challenges that must be properly address in the Indian climate policy context 24:25 – Closing remarks More information about the India CCTS can be found here.

  5. 11/07/2025

    Brazil ETS Deep-Dive with José Pedro Neves

    In this episode of ICAP’s Carbon Market Conversations, host Trevor Laroche-Theune takes listeners on a deep-dive into carbon pricing developments in Brazil with expert guest, José Pedro Neves, General Coordinator for Sustainable Finance at the Secretariat for Economic Policy of Brazil’s Ministry of Finance. This conversation focuses on the ongoing development of Brazil’s ETS, how the system will be tailored to the country context, lessons other jurisdictions can learn from Brazil’s experience, and what we can expect heading into COP30. A more detailed breakdown of the topics explored and where you can listen to them is listed below.Breakdown of topics covered: 0:55 - Introduction to today’s topic and our guests 2:40 - Overview of Brazil’s ETS development process and the factors that were influential in the Brazilian government moving forward with the system 5:00 - How Brazil’s system is significant in advancing climate policy goals in the country 7:40 - System design elements and challenges that remain before full implementation 9:40 – Adapting the ETS to Brazil’s country context 12:30 - Expected economic and social impacts including in the Amazon region and others with high LULUCF emissions 16:10 - Lessons other countries can learn from Brazil’s experience 19:20 - Expectations for the role carbon pricing will play at COP30 22:50 - Key challenge that must be properly addressed in the coming years in the world of carbon pricing and what steps can be taken toward their resolution 25:20 - Closing remarks

  6. 09/30/2025

    Washington State Cap-and-Invest Program Deep-Dive with Joel Creswell and Isaac Kastama

    In this episode of ICAP’s Carbon Market Conversations, host Trevor Laroche-Theune takes listeners on a deep-dive into the Washington State Cap-and-Invest Program with expert guests Joel Creswell, Climate Pollution Reduction Program Manager at the Washington State Department of Ecology, and Isaac Kastama, Director, Government Relations for Clean & Prosperous. This conversation focuses on what has made Washington’s program particularly successful, how the Washington public reaffirmed the state’s commitment to climate action choosing to keep the program in place in a 2024 ballot vote, the status of linkage prospects with carbon markets in California and Québec, and key lessons other jurisdictions can take away from Washington’s experience. A more detailed breakdown of the topics explored and where you can listen to them is listed below.Breakdown of topics covered: 0:55 - Introduction to today’s topic and our guests 3:15 - Overview of Washington’s program and what has made it successful 7:20 - What was at stake in the 2024 ballot vote 12:00 - Communication strategies (and the ballot vote campaign) 16:40 - Showing people what they are voting for: the result of including financial impacts on the ballot card 18:45 - Key lessons from Washington’s experience for other jurisdictions 26:50 - Importance of transparency in climate policy 29:45 - Status of linkage discussions with programs in California and Québec  32:00 - Potential opportunities and challenges that come with linkage 35:15 - California’s reauthorization 36:40 - Key challenges that must be properly addressed in the coming years in Washington and what steps can be taken toward their resolution 41:15 - Closing remarks

  7. 04/15/2025

    ETS trends and the future of carbon markets, with Iryna Holovko and Victor Alejandro Ortiz Rivera

    In this episode of ICAP’s Carbon Market Conversations, host Trevor Laroche-Theune is joined by ICAP Carbon Market Experts, Iryna Holovko and Victor Alejandro Ortiz Rivera for an engaging discussion on the latest developments in compliance carbon markets worldwide. Building on insights from ICAP’s latest Status Report, the conversation explores how ETSs have evolved over the past year, delving into key trends, regional highlights, and cross-cutting themes that are shaping the global carbon market landscape. From the latest statistics to emerging system designs and alignment with net-zero targets, this episode unpacks the most significant milestones and challenges facing the carbon market community today. Our guests also share their perspectives on what they see as a critical issue that must be addressed to ensure the continued success of ETSs in the years to come. Access the full ICAP ETS Status Report here: https://icapcarbonaction.com/en/publications/emissions-trading-worldwide-icap-status-report-2025Breakdown of topics covered: 0:55 - Introduction to today’s topic and our guests 3:25 - Highlight statistics related to ETS this year 4:45 - ETS revenues 6:00 - Carbon credit use in ETSs 9:00 - Latest developments in Europe and Central Asia 13:15 - Latest developments in Latin America and the Caribbean 15:10 - Latest developments in North America 19:00 - Latest developments in the Asia-Pacific 22:30 - Cross-cutting themes: alignment with net-zero targets 23:15 - Cross-cutting themes: emergence of diverse system designs 24:30 - Cross-cutting themes: scope expansion 25:30 - Cross-cutting themes: carbon border adjustment mechanisms 26:45 - A key challenge that must be properly addressed in the coming years in the compliance carbon market space and what steps can be taken toward its resolution 30:30 - Closing remarks

  8. 03/03/2025

    Exploring Carbon Pricing Revenues: Insights and Opportunities with Diana Cárdenas Monar

    In this episode of ICAP’s Carbon Market Conversations, we dive into the crucial role of carbon pricing revenues in advancing climate action, economic resilience, and social equity. Host Trevor Laroche-Theune is joined by Diana Cárdenas Monar, Research Fellow at the Institute for Climate Economics, to reflect on why carbon pricing revenue use is so important and explore how governments worldwide are strategically allocating these revenues. From California to the EU, South Korea, and beyond, they discuss best practices, emerging trends, and the challenges of ensuring carbon revenues support a just transition. Diana also shares key insights from her recent work, Maximising benefits of carbon pricing through carbon revenue use: A review of international experiences, which outlines a four-step approach to maximizing the impact of carbon revenues. Read the full report here: https://www.i4ce.org/en/publication/maximising-benefits-carbon-pricing-through-carbon-revenue-use-review-international-experiences-climate/ Tune in for expert perspectives on revenue recycling, policy design, and the future of carbon pricing as a key tool for climate finance.Breakdown of topics covered: 0:55 - Introduction to today’s topic and our guest, Diana Cárdenas Monar 2:45 - Introduction to how carbon pricing instruments accrue revenue and why revenue recycling is an important concept and practice 5:00 - How revenues can affect environmental and economic objectives 6:35 - How revenues can contribute to a just transition and the social acceptability of carbon pricing 10:30 - The most common ways that jurisdictions allocate carbon pricing revenues and differences by country profile 15:00 - Further jurisdiction-specific examples that stand out 19:10 - A four-step approach to making the most of carbon pricing revenues 25:10 - Notable lessons from jurisdictions that have successfully implemented strategic revenue use 27:30 - Potential pitfalls or unintended consequences of revenue use and compensation measures and how policymakers can avoid such issues 29:50 - Future developments in carbon pricing revenue use strategies 32:45 - How global climate finance discussions influence revenue allocation 35:45 - A key challenge that must be properly addressed in the coming years of financing the transition to a low-carbon economy and what steps can be taken toward its resolution 38:05 - Closing remarks

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This is Carbon Market Conversations: A Podcast by ICAP, giving insight into all things emissions trading and carbon pricing. Join our host Trevor Laroche-Theune as he meets with climate experts and practitioners in each episode to discuss their views on the latest emissions trading and carbon pricing developments and their impacts. Whether you are new to the conversation or a seasoned carbon pricing practitioner, ICAP's Carbon Market Conversations provides engaging discussions in an easily digestible format. Tune in to be part of the conversation driving positive change for our climate.

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