The UK Carbon Markets Forum has appointed EY financial services partner Mike Zehetmayr as its new Chair, succeeding Dame Clara Furse after five years in the role…reports Asian Lite News Desk
The UK Carbon Markets Forum (CMF) has appointed Mike Zehetmayr, UK Financial Services Partner at EY, as its new Chair, marking a leadership transition as the organisation seeks to expand the role of carbon markets in supporting climate action and economic growth.
The CMF, a private sector initiative supported by the City of London Corporation, was established to help scale global carbon credit markets. Zehetmayr succeeds Dame Clara Furse, who has chaired the Forum since its launch in 2021.
The appointment comes as the Forum shifts its focus towards integrating climate considerations more deeply into business and financial decision-making while broadening its membership to include a wider range of participants from the finance, technology and sustainability sectors.
Zehetmayr brings more than 30 years of experience in financial markets and technology infrastructure. During his career, he has held senior positions at EY and IBM and has worked on projects aimed at modernising financial systems.
At EY, he led the firm’s advisory work on the Great British Tokenised Deposits project, a pilot initiative involving six of the UK’s largest banks to develop tokenised payment infrastructure. He also serves as a Board Trustee of Lincolnshire Wildlife Trust.
Commenting on his appointment, Zehetmayr said: “Carbon markets exist because the global climate problem is real and urgent, and altruism alone will not scale solutions. The City of London has the infrastructure, and the CMF has the legal frameworks, the trading mechanisms, and the data and assurance capabilities. It’s now time to accelerate decisions and act on them. It’s a privilege to build on the platform Dame Clara Furse established, and lead the Forum through this next chapter.”
According to a recent CMF report, the UK carbon credit economy currently generates £1.2 billion annually. The Forum also noted that the global carbon credit market could grow to as much as 190 times its present value by 2050.
Over the coming year, the organisation plans to focus on translating its objectives into practical measures to support the development of international carbon markets. This will include working with government departments and international partners on emerging policy frameworks, as well as developing market infrastructure to support increased cross-border activity.
The Forum said it would also seek to strengthen the commercial case for using carbon credits and encourage broader participation by businesses and financial institutions. These efforts are intended to support the development of carbon markets that are trusted, efficient and internationally competitive.
The City of London Corporation welcomed the appointment, highlighting the importance of maintaining the UK’s position within a growing global market.
Chris Hayward, Policy Chairman at the City of London Corporation, said: “The UK is the dominant force in global carbon markets – but this is a nascent sector, and we must provide the solutions if we are to continue to lead. Mike’s appointment will be crucial in achieving this. I look forward to working with him, driving forward the work of the Forum, as well as thanking Dame Clara for her work over the past five years.”
The appointment has also been welcomed by the Government, which views carbon markets as a mechanism for attracting investment to support the transition to a lower-carbon economy.
Rachel Blake, Economic Secretary to HM Treasury, said: “Carbon markets have a critical role to play in mobilising finance for the transition to net zero, and the UK is uniquely placed to build trust and growth in these markets. I welcome Mike Zehetmayr’s appointment as Chair of the UK Carbon Markets Forum at this important moment and the group’s continued focus will be key to accelerating progress, supporting the Government’s growth and clean energy missions.”
The leadership change comes at a time when policymakers, businesses and investors are increasingly examining the role of carbon markets in supporting emissions reduction efforts and financing climate-related projects. The CMF’s next phase will focus on strengthening market participation, improving infrastructure, and helping shape the sector’s future direction both in the UK and internationally.
