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PodcastColumbia Energy ExchangeOctober 6, 2026

Gautam Jain and Ned Shell on the Promise of Carbon Credit Markets

Carbon credit markets need coordinated supply-, demand-, and market-side regulation to scale, with the US notably absent from current global standard-setting efforts.

  • Three-pillar framework: CGEP research (funded by Bloomberg Philanthropies) argues project-based carbon credit markets need supply-side (generation integrity), demand-side (use/disclosure rules), and market-side (regulated exchanges) regulation simultaneously to scale, drawing parallels to the 1934 Securities Exchange Act and 1936 Commodity Exchange Act.
  • US policy gap: The US is largely absent from the G20 regulatory study and risks being a 'missed opportunity' in global standard-setting, even as China and the EU advance their own frameworks.

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