Wednesday, May 27, 2026
11:00 a.m. MT | 1:00 p.m. ET
With the signing on May 15, 2026 of the Implementation Agreement for last year’s Canada-Alberta MOU, carbon market rules for industrial emitters have been rewritten. The agreement on carbon pricing, part of a larger energy and competitiveness plan, will transform the Alberta TIER market, with ripple effects that extend far beyond provincial borders. Join us for a comprehensive 60-minute session as we break down the three pillars of the agreement and what they mean for the future of Canadian carbon policy.
Market View: Analysis of how the agreement aims to establish “carbon markets that work,” and address the credit overhang in the Alberta TIER program and promote “a credible, scalable national carbon credit market” with design features such as a headline carbon price reaching CAD 130 in 2035, a price floor starting in 2030 and an effective carbon price of CAD 130 in 2040.
Regulatory State-of-Play: Navigating the revised tightening stringency rates and compliance pathways for heavy emitters, plus the Direct Investment Program and Carbon Contracts for Difference (CfD).
The Federal Question: How this deal will translate through to other provinces as Canada will ensure the updated federal carbon pricing benchmark is consistent with the agreement.
Interactive Q&A: Direct access to our lead analysts to discuss specific implications for your sector.
The MOU implementation will dramatically change the current Canadian carbon market landscape, shaping carbon pricing for many years to come, with implications for industrial emitters, project developers, investors and other market stakeholders. The effects will be felt beyond Alberta’s borders.
CEO
ClearBlue Markets
Chief Executive Officer Michael Berends is a highly respected leader in the global carbon markets. With a decades-long career spanning North America and Europe, he has held senior positions in top energy and financial organizations, including Barclays Capital, Vattenfall Energy Trading, and ICL, in trading, origination, procurement, and sales.
Michael has successfully executed numerous global carbon product deals and devised pricing and risk management strategies for emitters in compliance and voluntary markets across more than 50 countries.
Under Michael's leadership, ClearBlue Markets has experienced remarkable growth, expanding sixfold, earning its place as a trusted partner for hundreds of corporations worldwide and launching the Vantage carbon intelligence platform. In 2023, ClearBlue Markets secured an investment of $8 million in financing led by the Royal Bank of Canada.
Michael holds a Master's degree in Conservation Biology from the University of Toronto and a Master's in Environmental Management from the University of Amsterdam.
Manager Market Analysis
ClearBlue Markets
Nicholas is a Manager at ClearBlue, where he leads the Market Intelligence service for the Canadian and Voluntary Carbon Markets. He conducts the firm’s Supply and Demand modeling, providing essential analysis of the Alberta TIER, B.C. OBPS, and Ontario EPS regulatory landscapes. In addition to his Canadian focus, Nicholas oversees coverage of the Voluntary Carbon Market, offering strategic insights into corporate demand trends, international policy, and global integrity standards such as Article 6, ICVCM, and VCMI.
Nicholas holds a Master’s Degree in Macroeconomic Policy and Financial Markets from the Barcelona School of Economics and has prior work experience in sustainability ratings for leveraged financed issuers and GHG inventory reporting.