Carbon Credits 2025

Building Integrity, Innovation and Institutionalisation

11 September 2025

Half Day Event: 13.30 to 20.30 London Time

CMS London, Cannon Place, 78 Cannon Street, London EC4N 6AF

Event Concluded. Recap Available

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Moments from the Event

On 11 September 2025, Future of Finance hosted Carbon Credits 2025: Building Integrity, Innovation and Institutionalisation, bringing together market leaders, policymakers, and standard-setters to examine the future of the voluntary carbon market. Discussions centred on the rapid evolution of legal and compliance frameworks, the fragmented regulatory landscape, and the growing influence of Article 6 and the ICVCM. Speakers highlighted the political and structural barriers to harmonisation and stressed that coordinated governance and clearer standards are essential for scale, integrity, and investor confidence.

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About the Event

The voluntary carbon market is at a pivotal moment: legal and compliance structures are evolving rapidly, but fragmented regulations and political interests hinder standardisation. Key frameworks like Article 6 and ICVCM are beginning to shape best practices, yet challenges remain in harmonising rules across regions. Overcoming political and structural barriers will require multilateral coordination, incentives for alignment, and the development of trusted governance structures. Standardisation is essential for scale, integrity, and investor confidence, and will define the next phase of market maturity.

Order of the Day

13.30 to 14.00: Registration Opens with coffee and biscuits

14.00 to 14.15: Welcome Address: Future of Finance and CMS

14.15 to 14.30: Keynote Address

14.30 to 15.00: Panel 1 - How can we restore trust in carbon markets by addressing greenwashing, project validation, and post-trade efficiencies?

15.00 to 15.30: Panel 2 - What role do partnerships play in a Carbon Ecosystem? How do they reshape market transparency and efficiency? How can we best utilise AI and data-driven verification to improve the credibility of carbon offset projects?

15.30 to 16.30 Coffee Break and Networking

16.30 to 17.00: Panel 3 - What will it take for carbon credits to become a standardised asset class for institutional investors given current and potential future pricing and liquidity?

17.00 to 17.30: Panel 4 - What will the evolving legal and compliance landscape for voluntary markets look like? How best to overcome the political and structural barriers to standardisation?

17.45 to 20.30: Networking drinks and canapés

Audience

Sustainability leaders, investors, carbon traders, project developers, technologists, verifiers, regulators, legal experts, corporates, NGOs, exchanges, and digital infrastructure providers.

All tickets are subject to approval. If your purchase is not approved, you will receive a full refund with no deductions. Refund requests may be made up to seven days before the event date. By purchasing a ticket, you agree to these terms.

Chatham House Policy

All panels are held under the Chatham House Rule to encourage open and candid discussion. All participants are free to use the information shared, but neither the identity nor the affiliation of speakers or attendees may be revealed.

To maintain this environment, sessions are not officially recorded or filmed, and no official event recordings are provided. Following each event, we will share key takeaways on our website and social media.

Panels & Key Discussion Topics

Keynote Address

Michael Sheren

University of Cambridge

as Moderator

How can we restore trust in carbon markets by addressing greenwashing, project validation, and post-trade efficiencies?

Hirander Misra

GMEX Group and ZERO13

Dr Robert Barnes, Chartered FCSI (Hon)

Strategic Advisor

Jim Row

Entoro

Harriet Hunnable

University of Cambridge

1. How can greater transparency in corporate climate claims help reduce greenwashing and improve investor confidence? 2. Should regulators take a more active role in policing greenwashing, or can market-led initiatives be effective enough? 3. How can we improve the credibility and integrity of carbon credit projects, especially in terms of additionality and permanence? 4. What role should third-party verification bodies play in validating projects — and how can their independence be ensured? 5. Can emerging technologies (e.g., satellite monitoring, blockchain) help make project validation more robust and real-time? 6. What are the major pain points in the post-trade lifecycle of carbon credits — and how can digitisation address them? 7. How can better tracking, custody, and retirement systems reduce the risk of double-counting or fraud? 8. Could standardised registries and interoperable platforms improve efficiency and trust in the carbon credit settlement process?

PANEL 1

14.30 to 15.00

Keith Bear

as Moderator

What role do partnerships play in a Carbon Ecosystem? How do they reshape market transparency and efficiency? How can we best utilise AI and data-driven verification to improve the credibility of carbon offset projects?

Alistair Mullen

LACONIC Global

Rebecca Idell

UBS

Alison Barto

Carbonaires

Anthony Stevens

Northern Trust

1. How essential are cross-sector partnerships (e.g., between project developers, tech providers, and regulators) in building a robust carbon ecosystem? 2. What examples demonstrate the impact of strategic alliances on scaling high-integrity carbon markets? 3. How can partnerships between the Global South and developed markets support equitable climate finance and project development? 4. What governance or transparency challenges arise in multi-stakeholder carbon market partnerships — and how can they be addressed? 5. What are the most promising collaborative models for improving transparency across the carbon value chain? 6. Can standardized disclosure frameworks — supported by partnerships — drive market-wide efficiency? 7. How can interoperability between registries, platforms, and verifiers be achieved without compromising competition or innovation? 8. How can AI be applied to automate and improve the monitoring, reporting, and verification (MRV) of carbon offset projects? 9. What types of data (e.g., satellite imagery, IoT sensors, LIDAR) are proving most effective in validating project claims? 10. What are the limitations or risks of relying on AI for verification — and how can we ensure algorithmic accountability? 11. How do we balance the need for sophisticated tech with equitable access for small or indigenous project developers?

PANEL 2

15.00 to 15.30

Keith Bear

as Moderator

What will it take for carbon credits to become a standardised asset class for institutional investors given current and potential future pricing and liquidity?

Henry Waite

Kumo

Alex Wilkinson

Alternative Derivatives Exchange

Nick Andrews

Strata Global

Scott Eaton

Carbonplace

1. What are the main barriers preventing carbon credits from being treated as a standardized, investable asset class today? 2. What role should financial institutions, exchanges, and regulators play in establishing common benchmarks or standards for carbon credits? 3. How close are we to achieving credit “fungibility” — and what would it take to get there? 4. How can we improve price transparency and discovery across both compliance and voluntary markets? 5. What tools (e.g., futures, indices, spot markets) are needed to build confidence in carbon credit pricing for institutional strategies? 6. Is there a viable path toward central clearing or secondary market trading that could improve liquidity? 7. What kinds of custody, risk analytics, and valuation tools are required for institutional participation at scale? 8. How do volatility and the long-term nature of carbon projects affect portfolio integration for asset managers and pension funds? 9. Could rating agencies or third-party validators play a similar role to credit rating agencies in de-risking carbon assets?

PANEL 3

16.30 to 17.00

Keith Bear

as Moderator

What will the evolving legal and compliance landscape for voluntary markets look like? How best to overcome the political and structural barriers to standardisation?

Luke Baldwin

Nature Broking

Natalia Dorfman

Kita

Lisa McClory

CMS UK

1. How is the legal treatment of voluntary carbon credits changing across key jurisdictions (e.g., U.S., EU, Global South)? 2. To what extent should voluntary markets be brought under the same regulatory umbrella as compliance markets — and what are the risks? 3. How are initiatives like the Integrity Council for the Voluntary Carbon Market (ICVCM) and Article 6 shaping emerging legal norms? 4. What due diligence and legal liability considerations are becoming more important for buyers and intermediaries? 5. Why has global standardisation been so elusive in the voluntary market — and what structural interests are at play? 6. How can multilateral bodies or public-private partnerships bridge political divides and create globally accepted frameworks? 7. What incentives (e.g., tax, ESG scoring, capital treatment) could help align governments and markets toward standardisation? 8. Is regional standardisation a more realistic short-term goal — and can it scale to global alignment over time?

PANEL 4

17.00 to 17.30

Keith Bear

as Moderator