On this inaugural episode of Ropes & Gray’s podcast series, Carbon Talk, asset management partner Jeremy Liabo and associate Anne Fox provide listeners with an introduction to the global carbon markets. Throughout their discussion, Jeremy and Anne outline the chief differences between mandatory carbon markets, on the one hand, and voluntary carbon markets, on the other hand. As part of this overview, Jeremy and Anne address a variety of topics including the different types of carbon “credits” and how they are each generated or issued, purchased by primary market participants and traded on the secondary market.