Luke's Linkedin: https://www.linkedin.com/in/luke-oliver-3054787/
Description:
What happens when carbon markets are treated like any other commodity?
In this episode, Troy Carter speaks with Luke Oliver, Head of Climate Investments at KraneShares, about the evolution of carbon as an asset class—and what that means for climate action.
Luke shares his journey from managing some of the world’s largest commodity ETFs to leading carbon market strategy at KraneShares. Together, they unpack:
Why compliance carbon markets (Europe, California) are maturing into powerful price signals.
The volatility and “dot-com bubble” moments of voluntary markets—and what might survive the shakeout.
The convergence challenge: when and how voluntary credits could integrate into compliance systems.
Why capital flows depend on predictable demand signals and clear standards.
A vision for scaling climate finance so it becomes “boring”—stable, investable, and massive in scale.
If you want to understand where finance meets carbon markets - and why liquidity and trust are the missing links—this is an episode not to miss.
Chapters:
00:00 Introduction to Climate Investments
05:56 The Evolution of Carbon Markets
12:02 Compliance vs. Voluntary Carbon Markets
17:45 The Future of Carbon Pricing and Market Dynamics
23:53 Understanding Market Dynamics in Carbon Trading
26:02 Navigating Early Stage Project Investments
27:39 The Role of Compliance in Carbon Markets
30:41 The Future of Carbon Investment Strategies
31:48 Envisioning a Sustainable Future
36:24 Innovative Solutions for Climate Action
39:38 The Economic Case for Ecological Restoration