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ICE’s Gordon Bennett on COP26 and Carbonomics

Financial markets stand to play a key role in a net zero future

2 min read

Modern Money

ICE's Gordon Bennett on COP26 and Carbonomics

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There’s no better way to gain an understanding of the types of conversations that took place at COP26 than to talk to someone who was there. Gordon Bennett, Managing Director of Utility Markets for ICE, was in Glasgow and he joins the show to talk about the role financial markets can play in achieving some of the goals that were laid out at the conference. And unlike so many of the concepts discussed in Glasgow, Gordon says the tools financial markets can offer already exist.

Net zero was a huge topic at the COP and Gordon explains why carbonomics and the pricing of externalities — both negative and positive externalities — are essential to the energy transition.

With carbon pricing being lauded in Glasgow by the likes of German Chancellor Angela Merkel and HRH Prince Charles, Gordon says global carbon trading markets — like those addressed in the final text of Article 6 at COP26 — are an example of ways markets and data can help companies and economies establish the necessary pricing mechanisms to accelerate the transition to a more sustainable future.

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Article 6 text on global carbon markets finalized at COP26

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