Andrew Gilmour joins Christopher Lochhead on Follow Your Different to discuss the future of
carbon markets and why financial innovation is the missing key to unlocking their true potential. Despite the urgent need for scalable climate solutions, today’s carbon market remains inefficient and dramatically undersized. The voluntary carbon market saw only $3 billion in trade volume in 2024, a fraction of the estimated $4 to $5 trillion in annual demand. Without liquidity, transparency, and structured financial instruments, it cannot scale to meet the world’s needs.
In this episode, Andrew explains why traditional approaches to carbon trading have failed and how integrating carbon markets into the global financial system can change that. He believes that carbon assets must function like any other financial instrument, with clear ownership, pricing, and the ability to be traded on capital markets. This approach has already led to groundbreaking deals, including a $5 billion carbon asset transaction with Bolivia, demonstrating that sustainability and economic growth can go hand in hand.
Andrew also highlights the barriers preventing carbon markets from scaling. Many companies still treat carbon credits as a charitable expense rather than an investable asset. The absence of liquidity and standardized structures makes them difficult to buy, hold, or trade, limiting their financial appeal. By applying proven financial mechanisms, Andrew and Laconic are working to create a system where carbon credits are treated like any other commodity—allowing for investment, growth, and real economic impact.
As the world moves toward a net-zero future, the need for market-driven solutions has never been greater. In this conversation, Andrew challenges conventional thinking, showing how financial markets can be a powerful force for environmental change. His vision for carbon markets is bold, disruptive, and urgently needed.
Listen to the full episode to hear how financial innovation can unlock trillions in climate investment and reshape the future of sustainability.
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