Traders of Environmental Progress
STX Group is a global environmental commodities trader offering physical and financial solutions across compliance and voluntary systems for energy, fuels, gas and carbon markets.
Transforming Climate Challenges into Business Progress
STRIVE is the consulting division of the STX group, helping companies achieve their climate goals through high-impact strategies and optimized decarbonization pathways.
Report
IETA’s The New Carbon Order Greenhouse Gas Report 2025 offers a timely assessment of how carbon markets are evolving from niche climate tools into core components of the global economic system. As carbon pricing expands across regions and sectors, the report highlights both the progress achieved so far and the structural work still required to ensure markets deliver real, scalable decarbonisation.
On the achievement side, carbon markets have proven their ability to mobilise capital efficiently, incentivise emissions reductions and support innovation across energy, industry and land-use sectors. Regulated systems are becoming more mature, while voluntary markets continue to evolve, supported by improvements in transparency, digital MRV solutions and growing international cooperation.
At the same time, significant challenges remain. Fragmentation across jurisdictions, uneven regulatory ambition and persistent concerns around integrity and credibility risk limiting the effectiveness of carbon markets. Ensuring trust, liquidity and meaningful price signals will be essential if markets are to scale at the pace required to meet global climate objectives.
Looking ahead, the report underscores the importance of clearly defined regulatory elements to consolidate carbon markets in the coming years. These include robust and harmonised MRV standards, consistent accounting rules, stronger governance frameworks, mechanisms to connect markets internationally, and policy certainty that supports long-term investment.r A balance between innovation and regulation will be critical to avoid fragmentation while enabling technological progress.
At Vertis Environmental Finance, we see The New Carbon Order as a key reference for understanding how carbon markets can mature into a credible, efficient and durable pillar of the global transition to a low-carbon economy, provided that regulation, integrity and cooperation remain firmly at the center of market design.
In this episode of Carbon Trading Chronicles, we explore how CBAM works in practice, with insights from Sarah Hay (Norsk Hydro) and Bjorn Bojessen (Vertis).
