The Earthshot Podcast

In this episode, Troy Carter sits down with Anthony Stevens, who leads innovation across digital assets and financial markets at Northern Trust, to talk about the less-visible work that determines whether carbon markets can really grow up: the systems that make credits trackable, transferable, and trustworthy at institutional scale.Anthony brings a capital-markets perspective to a practical question: what has to be true for large financial institutions to participate with confidence?They explore:What “trust” looks like in practice: custody, controls, auditability, and clean dataWhere today’s carbon markets still create friction and riskHow registries, standards, and market participants can better alignWhat digital rails and tokenization can help with (and what they can’t)What it would take for carbon markets to become stable enough for long-term capitalIf you’re following the evolution of carbon markets, this one gets into the details that shape everything downstream.🔗 Anthony Stevens: https://linkedin.com/in/anthony-stevens-933147/?skipRedirect=true🌐 Northern Trust: https://www.northerntrust.com🎙️ Watch on YouTube: https://youtu.be/_NxN6lxB9A8

Diego's Linkedin: https://www.linkedin.com/in/diego-justiniano-aa92a09/In this episode, Troy Carter speaks with Diego Justiniano, CEO of Exomad Green, about how Bolivia is building one of the most ambitious climate operations on the planet — and what it means for a nation to lead from its forests, not its factories.Exomad Green transforms what was once forest waste into biochar — a stable form of carbon that locks CO₂ away for centuries while restoring soil health. But this conversation isn’t just about biochar. It’s about the rise of a new kind of industry — one that’s circular, restorative, and deeply local.Troy and Diego discuss:- How Exomad Green built one of the world’s largest carbon removal operations- Why Bolivia’s forests can anchor a new era of regenerative industry- The challenges of scaling climate infrastructure in the Global South- What partnership and trust really mean in high-integrity carbon markets- How climate action can create jobs, dignity, and resilience — not just offsetsThis is a story about transformation - where industrial power meets ecological wisdom.From the heart of South America, Diego offers a vision of what a truly regenerative economy could look like when it begins with community, courage, and the forest itself.🎙️ Listen on Spotify and YouTube: The Earthshot PodcastOverview of ExomadExomad Green specializes in biochar production, transforming sustainable forestry waste—otherwise incinerated by sawmills—into biochar, a valuable resource that supports a circular economy and reduces environmental impact. Our biochar production plays a crucial role in carbon removal by sequestering CO2, aligning with global climate goals. With the support of the CDR market, we are able to donate our biochar production to local farmers and communities, enhancing agricultural yields and driving extensive research to advance sustainable farming practices. Exomad Green is committed to environmental stewardship, fostering local economic growth, and creating lasting benefits for communities and ecosystems.Website - www.exomadgreen.com

Marcelo Behar on Brazil’s Bioeconomic Revolution Ahead of COP30A special pre-COP30 conversation.Marcelo's LinkedIn: https://www.linkedin.com/in/marcelo-behar-0b5b5744/As the world turns its attention to COP30 in Belém, this episode features Marcelo Behar - sociologist, lawyer, and Special Envoy for COP30, representing Brazil’s emerging bioeconomy movement.Marcelo joins Troy Carter to explore how Brazil is redefining climate leadership through bioeconomy, sociobioeconomy, and forest-based value creation. Together, they discuss the initiatives that could shift the global economy toward valuing standing forests and traditional knowledge - from the Tropical Forest Forever Facility (TFFF) to new models of carbon finance and circularity.This episode dives into:Why COP30 in the Amazon marks a historic turning point for climate diplomacy.How bioeconomic innovation is reshaping agriculture, finance, and energy.The role of traditional communities as stewards of biodiversity and cultural heritage.The design of the TFFF, a mechanism to channel lasting investment into tropical forests.The spirit of mutirão: Brazil’s idea of collective action - as the soul of regeneration.Marcelo reminds us that the answers to the climate crisis may not come from new technologies alone, but from reconnecting with the people and places that have always lived in balance with the Earth.🎙️ Listen now on Spotify and YouTube :https://youtu.be/BOadr879Rvo

Eron Bloomgarden: The Era of Free Emissions Is OverEron's Linkedin: https://www.linkedin.com/in/eron-bloomgarden-4406183/In this episode, Troy Carter sits down with Eron Bloomgarden, founder and CEO of Emergent—the organization behind the LEAF Coalition and one of the leading voices in global climate finance.Eron shares his journey from the early days of carbon markets to designing multi-billion-dollar initiatives that protect forests and accelerate corporate climate action. Together, they unpack how we can move beyond fragmented efforts and build a social movement around one simple truth:“Every ton should be paid for.”This conversation explores:The creation of the LEAF Coalition and its vision for large-scale forest protection.How carbon markets evolved—and what they must become next.Why climate finance needs cultural momentum, not just capital.The role of companies, governments, and investors in ending the era of free pollution.What it takes to turn climate conviction into real, coordinated demand.Eron’s message is both clear and urgent: to protect what remains and restore what’s been lost, pollution can no longer be free.

Luke's Linkedin: https://www.linkedin.com/in/luke-oliver-3054787/Description:What happens when carbon markets are treated like any other commodity?In this episode, Troy Carter speaks with Luke Oliver, Head of Climate Investments at KraneShares, about the evolution of carbon as an asset class—and what that means for climate action.Luke shares his journey from managing some of the world’s largest commodity ETFs to leading carbon market strategy at KraneShares. Together, they unpack:Why compliance carbon markets (Europe, California) are maturing into powerful price signals.The volatility and “dot-com bubble” moments of voluntary markets—and what might survive the shakeout.The convergence challenge: when and how voluntary credits could integrate into compliance systems.Why capital flows depend on predictable demand signals and clear standards.A vision for scaling climate finance so it becomes “boring”—stable, investable, and massive in scale.If you want to understand where finance meets carbon markets - and why liquidity and trust are the missing links—this is an episode not to miss.Chapters:00:00 Introduction to Climate Investments05:56 The Evolution of Carbon Markets12:02 Compliance vs. Voluntary Carbon Markets17:45 The Future of Carbon Pricing and Market Dynamics23:53 Understanding Market Dynamics in Carbon Trading26:02 Navigating Early Stage Project Investments27:39 The Role of Compliance in Carbon Markets30:41 The Future of Carbon Investment Strategies31:48 Envisioning a Sustainable Future36:24 Innovative Solutions for Climate Action39:38 The Economic Case for Ecological Restoration