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-2025


Breakdown 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