We kick off the 8th season of the All Things Sustainable podcast by diving into the outlook for carbon markets. For the first episode of the new season we sit down with several guests on the sidelines of the S&P Global Energy Global Carbon Markets Conference, which took place in Barcelona in December 2025. We hear how the latest regulatory developments are expected to boost demand in 2026. We learn about the impact of innovation and AI on the market's development. And we hear how carbon markets can act as a tool for companies in developing their decarbonization strategies. We speak to: Mandy Rambharos, the CEO of Verra, the world's largest issuer of carbon credits and a standard setter for voluntary credits. She explains how key rules and guidelines for international carbon trading under Article 6 of the Paris Agreement on climate change are affecting the market; Euan McDougall, the CEO of DelAgua, a Rwanda-based developer of carbon projects. He discusses other frameworks overseeing the issuance of carbon credits, including CORSIA, the Carbon Offsetting and Reduction Scheme for International Aviation; Tomas Thyblad, Vice President of Carbon and Sustainability Solutions at Nasdaq. He tells us how he expects innovation and AI to impact carbon markets; Juan Carlos Gómez, Principal Manager at ACCIONA Carbon Technologies, a division of Spanish infrastructure firm ACCIONA. He explains the role carbon markets play in ACCIONA's decarbonization strategy; Olivia Albrecht, CEO of carbon investment management firm Artemeter, which worked with football club FC Barcelona on a project using carbon offsets to reduce emissions related to a stadium rebuild; And Ingo Ramming, Head of Carbon Markets at Spanish bank BBVA. He explains how the EU's Carbon Border Adjustment Mechanism (CBAM) will impact carbon markets after becoming fully applicable Jan. 1. Listen to our previous coverage on carbon markets: What to expect from carbon markets in 2025 After COP29, what's next for carbon markets Exploring the role of carbon markets in reaching climate targets What's next for voluntary carbon markets Copyright ©2026 by S&P Global DISCLAIMER By accessing this Podcast, I acknowledge that S&P GLOBAL makes no warranty, guarantee, or representation as to the accuracy or sufficiency of the information featured in this Podcast. The information, opinions, and recommendations presented in this Podcast are for general information only and any reliance on the information provided in this Podcast is done at your own risk. Any unauthorized use, facilitation or encouragement of a third party's unauthorized use (including without limitation copy, distribution, transmission or modification, use as part of generative artificial intelligence or for training any artificial intelligence models) of this Podcast or any related information is not permitted without S&P Global's prior consent subject to appropriate licensing and shall be deemed an infringement, violation, breach or contravention of the rights of S&P Global or any applicable third-party (including any copyright, trademark, patent, rights of privacy or publicity or any other proprietary rights). This Podcast should not be considered professional advice. Unless specifically stated otherwise, S&P GLOBAL does not endorse, approve, recommend, or certify any information, product, process, service, or organization presented or mentioned in this Podcast, and information from this Podcast should not be referenced in any way to imply such approval or endorsement. The third party materials or content of any third party site referenced in this Podcast do not necessarily reflect the opinions, standards or policies of S&P GLOBAL. S&P GLOBAL assumes no responsibility or liability for the accuracy or completeness of the content contained in third party materials or on third party sites referenced in this Podcast or the compliance with applicable laws of such materials and/or links referenced herein. Moreover, S&P GLOBAL makes no warranty that this Podcast, or the server that makes it available, is free of viruses, worms, or other elements or codes that manifest contaminating or destructive properties. S&P GLOBAL EXPRESSLY DISCLAIMS ANY AND ALL LIABILITY OR RESPONSIBILITY FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL OR OTHER DAMAGES ARISING OUT OF ANY INDIVIDUAL'S USE OF, REFERENCE TO, RELIANCE ON, OR INABILITY TO USE, THIS PODCAST OR THE INFORMATION PRESENTED IN THIS PODCAST.