Episode 7: 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 guests3:25 - Highlight statistics related to ETS this year4:45 - ETS revenues6:00 - Carbon credit use in ETSs9:00 - Latest developments in Europe and Central Asia13:15 - Latest developments in Latin America and the Caribbean15:10 - Latest developments in North America19:00 - Latest developments in the Asia-Pacific22:30 - Cross-cutting themes: alignment with net-zero targets23:15 - Cross-cutting themes: emergence of diverse system designs24:30 - Cross-cutting themes: scope expansion25:30 - Cross-cutting themes: carbon border adjustment mechanisms26:45 - 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 resolution30:30 - Closing remarks