We have talked at length on previous episodes about the flaws in compliance markets. And the team at Nori obviously believes in voluntary carbon markets, as we’re building one ourselves.

But there’s a wide range of quality among voluntary markets, and the space is 1,000 times smaller than the compliance programs in progress around the world.

So, have cap-and-trade markets contributed to a meaningful reduction in emissions in spite of their flaws? And are compliance markets the only way to address carbon emissions at scale?

Michael Azlen is the Founder and CEO of cap.com/">Cabon Cap Management LLP and Co-Portfolio Manager of the cap.com/world-carbon-fund">World Carbon Fund. On this episode of Reversing Climate Change, Michael joins Ross and guest cohost Aldyen Donnelly to explain how he got interested in carbon as an asset class and share his take on the benefits of compliance markets.

Aldyen offers insight on the two compliance market models, describing the problems associated with programs modeled after the SO2 Allowance Market—and why she prefers the framework of the Montreal Protocol.

Listen in to understand how Michael thinks about regulating voluntary carbon markets and why he is optimistic about the global growth in compliance markets despite their imperfections.

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Resources

cap.com/">Carbon Cap Management

Climate-Crypto, COP26, and Carbon Accounting Rules on Reversing Climate Change S3EP1

Michael’s Paper on Carbon as an Emerging Asset Class

cap.com/uploads/Gkp4EjaC/WorldCarbonFundFAQApril2020.pdf">World Carbon Fund

The US Acid Rain SO2 Allowance Market

The Montreal Protocol

EU Emissions Trading System

Fit for 55

Kyoto Protocol

Clean Air Interstate Rule

Cross-State Air Pollution Rule

The Regional Greenhouse Gas Initiative

cap-and-trade-program-step-by-step.pdf">California’s Cap-and-Trade Program

California Scoping Plan Documents

UK Emissions Trading Scheme

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