1

Voluntary 

Carbon 

Markets 

CFTC | 2 June 2022
2

What is the science behind net zero?

– Carbon budget

– Carbon cycle

Why do we need environmental markets 

and how do they work?

– Reconcile the science to the instruments

What role do project-based credits* 

play?

– Taxonomy and sell-side

– Buy-side 

Agenda and objectives
3 | CONFIDENTIAL

Macro theme - what is net zero?

Balancing the carbon budget
4 | CONFIDENTIAL

Macro theme - what is net zero?

Energy transition + carbon sinks (natural capital + technology removals)
5 | CONFIDENTIAL

Project based credits* 

Multiple standards & 

methodologies | no standardisation

Monitoring, reporting & verification 

(MRV) | precision

MRV bottlenecks | manufacturing a 

carbon credit

Standards and registries | market 

governance & cybersecurity

Buy-side | Who, How, What, When?

Reduction Removal

Nature based Technology based

ICE Nature Based Carbon 

Credit Future

Taxonomy
6 | CONFIDENTIAL

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