At the recent Energy Disruptors Unite 2024 event in Calgary, Michael Berends, CEO and co-founder of ClearBlue Markets, spoke on a panel entitled, How Heavy Emitters Are Using The Carbon Markets To Meet Their Commitments, moderated by Gordon Evens, Head of Environmental Products Trading, RBC Capital Markets.
In conversation with fellow panellist, Stephanie Voysey, Head of Sustainability & Environment, Lafarge Canada, Berends affirmed the enduring role of carbon markets and pricing in Canada. He remarked, “Carbon markets and carbon pricing are here to stay,” reflecting a shift from past uncertainty about their future.
Berends emphasized that emitters prefer carbon pricing because it offers clarity, although there is a strong desire for long-term certainty. He commented on the potential political shift in Canada, suggesting that if Pierre Poilievre wins the next federal election, the “retail carbon price will go” while the industrial carbon price will likely remain. He noted that “emitters want certainty” to make long-term decisions, and these markets are critical for aligning with international carbon standards.
Discussing the voluntary carbon markets, Berends pushed back against the notion that companies are using carbon offsets as an excuse to avoid reducing emissions. He explained, “CEOs buy offsets because it’s very difficult to make changes that are significant at your own site anytime soon,” and emphasized that supporting projects through offsets encourages companies to reduce emissions sooner.
In an article published by DOB Energy, writer Josh Skapin followed the conversation, which highlighted the growing maturity of carbon markets, despite ongoing uncertainty about future pricing frameworks, particularly in light of political changes in Canada and the U.S.