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Diploma in Carbon Markets & Climate Finance
Module 1. Foundations of Carbon Markets and Climate Finance
Climate change economics and the case for carbon pricing
Market mechanisms: cap-and-trade vs. baseline-and-credit
Evolution of global carbon markets under the UNFCCC and Paris Agreement (Article 6 focus)
Introduction to climate finance: flows, instruments, and global needs
Ethics and controversies: additionality, leakage, and greenwashing
Quiz
Module 2. Compliance Carbon Markets I: Europe
Deep-dive into the EU’s pioneering schemes and their global spillovers
Carbon Border Adjustment Mechanism (CBAM): mechanics, reporting, and 2026 transition to payments
New Linking ETS with energy policy: Fit for 55, ETS2 for buildings and road transport
Case study: a shipping company’s compliance journey in 2025–2027
UK ETS reforms and divergence from the EU
Quiz
Module 3. Compliance Carbon Markets II: Global Perspectives
China’s ETS expansion to steel, cement, aluminium, and compliance structure
Korea ETS Phase 4 plan (2026–2035), price dynamics, and derivatives
Australia’s Safeguard Mechanism: baselines, credits, and cost containment
North America: California, Quebec (WCI), and Washington State cap-and-invest
Canada’s federal backstop and provincial carbon pricing
Quiz
Module 4. International Sectoral Schemes and Article 6
Article 6.2 and 6.4: bilateral transfers and the UN crediting mechanism
CORSIA for international aviation: obligations, eligible units, and supply risks
International maritime initiatives: IMO strategy and overlaps with ETS
Corresponding adjustments, double counting risks, and host country LoAs
Case study: Airline procurement strategy under CORSIA
Quiz
Module 5. Voluntary Carbon Markets and Integrity Standards
Evolution of the voluntary market: REDD+, renewable energy, cookstoves, and removals
ICVCM Core Carbon Principles: quality labels and implications
VCMI Claims Code v3.0: Scope 3 Action/Flexibility Claim and disclosure requirements
Corporate buyer perspectives: reputational risk, assurance, and greenwashing litigation
Practical lab: designing a credible voluntary carbon claim
Quiz
Module 6. Carbon Removals, Nature-Based Solutions, and Innovation
EU Carbon Removals Certification Framework (CRCF): scope, methodologies, and registry
Nature-based solutions: afforestation, soil carbon, blue carbon, and permanence risks
Technological removals: DACCS, BECCS, biochar, enhanced weathering
New Procurement models for removals: offtake agreements, advanced market commitments
Case study: Climeworks Mammoth and lessons for corporate buyers
Quiz
Module 7. Climate Finance Instruments and Carbon as an Asset Class
Green bonds, transition bonds, and sustainability-linked loans with carbon KPIs
Carbon credits as financial assets: derivatives, futures, and risk hedging
Climate funds, blended finance, and multilateral support for developing countries
Role of development banks and sovereign carbon finance strategies
Case study: carbon-linked financing for a renewable energy project
Quiz
Module 8. Governance, Disclosure, and Legal Risks
MRV (Measurement, Reporting, Verification) standards and digital registry innovations
Corporate disclosure requirements: ISSB, CSRD (under review), SEC climate rules
Litigation and liability: carbon claims, misrepresentation, and greenwashing
Internal governance: board responsibility, climate officers, and compliance programs
Building a corporate carbon risk register and audit trail
Quiz
Module 9. Capstone Project
Instructions
Final Test
Final Exam
Recommended Reading
Recommended Reading
Climate funds, blended finance, and multilateral support for developing countries
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