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With roots extending back to the birth of carbon markets Everpath’s proven success across project management, finance and advisory continues to strengthen its reputation in environmental markets.",[274,276],{"_key":258,"_type":191,"href":275},"https:\u002F\u002Fwww.bbenergy.com\u002F",{"_key":267,"_type":191,"href":277},"https:\u002F\u002Fwww.everpath.earth\u002F",{"_key":279,"_type":20,"children":280,"level":83,"listItem":200,"markDefs":294,"style":28},"5b23796bd3b1",[281,286,290],{"_key":282,"_type":24,"marks":283,"text":285},"0486d7d4ffef",[284,52],"46736bd2cdb3","HAMERKOP",{"_key":287,"_type":24,"marks":288,"text":289},"88c0a3053197",[52],".  ",{"_key":291,"_type":24,"marks":292,"text":293},"24ef2c174795",[],"Founded in 2018, HAMERKOP is an award-winning independent consultancy specialising in carbon finance, energy access and Nature-based Solutions. With offices in London and Singapore, the team has supported over 190 assignments in 50+ countries. With a special focus on Nature-based Solutions and clean cooking projects, HAMERKOP supports the certification, implementation, and impact monitoring of high-integrity projects around the world, enabling their access to the carbon market. HAMERKOP provides end-to-end carbon market expertise and has an extensive track record of providing consultancy services to governments, international NGOs and the private sector. The company’s overarching aim is to support mitigation projects in accessing carbon finance, thereby maximising their social and environmental impact.",[295],{"_key":284,"_type":191,"href":296},"https:\u002F\u002Fwww.hamerkop.co\u002F",{"_key":298,"_type":20,"children":299,"level":83,"listItem":200,"markDefs":309,"style":28},"9eff60acb44a",[300,305],{"_key":301,"_type":24,"marks":302,"text":304},"4bb34f259606",[303,52],"836b6e0f754d","FAIRVENTURES.",{"_key":306,"_type":24,"marks":307,"text":308},"24095d2b2fd1",[]," Fairventures Worldwide is a German non-profit organization founded in 2013. Focusing on reforestation projects and agroforestry, Fairventures and local partners work closely with smallholder farmers and offtakers of goods from agroforestry systems in Uganda and Indonesia. 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As public funding declines, these interconnected challenges are increasingly driving the need to mobilise private capital. In this context, carbon markets are emerging as one mechanism to support both emissions reductions and tangible social outcomes in vulnerable settings.",[],{"_key":553,"_type":20,"children":554,"markDefs":559,"style":28},"eb89390ab4d2",[555],{"_key":556,"_type":24,"marks":557,"text":558},"8ac56c0ee7dc",[],"This approach is reflected in projects developed under the UNHCR Refugee Environmental Protection (REP) Fund, where Everpath is part of the selected consortium delivering clean cooking and reforestation initiatives in refugee settings. This includes efficient cooking and ecosystem restoration in Bidibidi (Uganda), as well as an LPG clean cooking project in Kigeme (Rwanda).",[],{"_key":561,"_type":20,"children":562,"markDefs":567,"style":28},"58e70f8a1149",[563],{"_key":564,"_type":24,"marks":565,"text":566},"0d8e75eb7076",[],"A deeper focus was given to LPG in Kigeme due to its strong suitability for refugee contexts. The project aims to replace fuelwood with LPG, reducing cooking-related emissions by up to 60% while addressing deforestation and environmental degradation. 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Integration with compliance markets will be essential to unlock the scale of investment required.",[],{"_key":636,"_type":20,"children":637,"level":83,"listItem":200,"markDefs":646,"style":28},"de598426e5c0",[638,642],{"_key":639,"_type":24,"marks":640,"text":641},"5b523e0dd787",[52],"Projects require time and alignment",{"_key":643,"_type":24,"marks":644,"text":645},"ca56c641eac2",[],", meaningful engagement must occur across local communities, district authorities, national governments, and global stakeholders. Attempting to shortcut this process risks undermining long-term durability.",[],{"_key":648,"_type":20,"children":649,"level":83,"listItem":200,"markDefs":658,"style":28},"b83bcdbfb061",[650,654],{"_key":651,"_type":24,"marks":652,"text":653},"0f73bd99c3f2",[52],"Bridging adaptation and mitigation are critical",{"_key":655,"_type":24,"marks":656,"text":657},"d8e8f9fdb7a3",[],", projects like ours demonstrate how carbon finance can deliver both, addressing a gap that has historically limited the effectiveness of voluntary carbon markets.",[],"Key reflections from the panel ",{"reverse_content":68},{"_key":662,"_type":71,"image":663},"ea8638c6508e",{"_type":73,"alt":664,"asset":665},"Networking lunch sponsored by Evepath",{"_ref":666,"_type":77},"image-0afec5260a5d1fb0426b796606c4b8ab021057f7-2048x1365-jpg",{"_key":668,"_type":15,"content":669,"layout":839},"8fe2403b82db",{"text":670,"title":838},[671,679,687,695,703,711,727,735,751,759,767,775,799,807,815,823],{"_key":672,"_type":20,"children":673,"markDefs":678,"style":28},"22b594c33dc5",[674],{"_key":675,"_type":24,"marks":676,"text":677},"a5309df2b30f",[],"Beyond our own session, conversations across the three days reinforced themes that speak directly to Everpath's work and the broader direction of carbon markets.",[],{"_key":680,"_type":20,"children":681,"markDefs":686,"style":28},"12f46839ea62",[682],{"_key":683,"_type":24,"marks":684,"text":685},"bca0e0ac72f2",[52],"Carbon as a kicker, not the anchor",[],{"_key":688,"_type":20,"children":689,"markDefs":694,"style":28},"c53f16974d6d",[690],{"_key":691,"_type":24,"marks":692,"text":693},"c3eea1e61525",[],"Carbon revenue should enhance project economics rather than serve as the primary investment driver. Projects relying solely on carbon income are inherently fragile, whereas those with diversified revenue streams and strong development fundamentals are more resilient and attractive to investors.",[],{"_key":696,"_type":20,"children":697,"markDefs":702,"style":28},"38f43940c0b0",[698],{"_key":699,"_type":24,"marks":700,"text":701},"974f6aadcaff",[52],"CORSIA, the EU ETS, and shifting compliance demand",[],{"_key":704,"_type":20,"children":705,"markDefs":710,"style":28},"775569aa3969",[706],{"_key":707,"_type":24,"marks":708,"text":709},"4d8dfff7f0c1",[],"The EU’s decision to include both departing and incoming flights under the EU ETS is reshaping demand dynamics. EU\u002FEEA-based operators are seeing reduced CORSIA obligations on routes already covered by the ETS.",[],{"_key":712,"_type":20,"children":713,"markDefs":726,"style":28},"3cd75faf6502",[714,718,722],{"_key":715,"_type":24,"marks":716,"text":717},"e9077e49ffc2",[],"At the same time, CORSIA Phase 1 (2024–2026) has introduced real offsetting obligations, with the 2024 Sector Growth Factor set at ",{"_key":719,"_type":24,"marks":720,"text":721},"03020c371612",[52],"15.4%",{"_key":723,"_type":24,"marks":724,"text":725},"c8820f2f208d",[],". These signals growing aviation demand for high-integrity credits, with expectations of an even higher SGF for 2025.",[],{"_key":728,"_type":20,"children":729,"markDefs":734,"style":28},"6cee920ebcaa",[730],{"_key":731,"_type":24,"marks":732,"text":733},"ce7064897ae8",[52],"The LOA challenge and the role of local finance",[],{"_key":736,"_type":20,"children":737,"markDefs":750,"style":28},"3b807540c8dd",[738,742,746],{"_key":739,"_type":24,"marks":740,"text":741},"e59d5aa2bd5c",[],"Securing Letters of Authorisation (LOAs) from host governments required for Article 6 and CORSIA eligibility is emerging as a major bottleneck. A key takeaway was that ",{"_key":743,"_type":24,"marks":744,"text":745},"ca29c42bfec2",[52],"local financing mechanisms",{"_key":747,"_type":24,"marks":748,"text":749},"704cdaf868cd",[]," are often the most effective way to build government relationships, demonstrate economic value, and ultimately unlock LOAs, rather than relying solely on international capital.",[],{"_key":752,"_type":20,"children":753,"markDefs":758,"style":28},"e01e91c01c0f",[754],{"_key":755,"_type":24,"marks":756,"text":757},"4bd5e6337199",[52],"Corresponding Adjustments: a growing bottleneck",[],{"_key":760,"_type":20,"children":761,"markDefs":766,"style":28},"55c5337cfc6d",[762],{"_key":763,"_type":24,"marks":764,"text":765},"335dfbd2c23a",[],"Progress on corresponding adjustments remains slow, largely due to delays in governments establishing carbon budgets and defining both conditional and unconditional NDC targets. This is restricting the flow of high-quality supply into the market.",[],{"_key":768,"_type":20,"children":769,"markDefs":774,"style":28},"c53fed826359",[770],{"_key":771,"_type":24,"marks":772,"text":773},"86af28ff08ec",[52],"Pricing signals pushing diversification of revenue streams across developers",[],{"_key":776,"_type":20,"children":777,"markDefs":798,"style":28},"f32a863c3b43",[778,782,786,790,794],{"_key":779,"_type":24,"marks":780,"text":781},"4ef927519c45",[],"Signals from CORSIA and other compliance frameworks are encouraging developers to diversify revenue streams and pursue higher-integrity pathways, including alignment with ",{"_key":783,"_type":24,"marks":784,"text":785},"9d0658c6f35a",[52],"Article 6 mechanisms",{"_key":787,"_type":24,"marks":788,"text":789},"fe1aa01d2cba",[]," and the ",{"_key":791,"_type":24,"marks":792,"text":793},"941f024a6832",[52],"Core Carbon Principles (CCP)",{"_key":795,"_type":24,"marks":796,"text":797},"e08ea37d5c73",[]," label.",[],{"_key":800,"_type":20,"children":801,"markDefs":806,"style":28},"b327daa969cf",[802],{"_key":803,"_type":24,"marks":804,"text":805},"6f338914871b",[52],"Looking Ahead",[],{"_key":808,"_type":20,"children":809,"markDefs":814,"style":28},"cd70ba5c472d",[810],{"_key":811,"_type":24,"marks":812,"text":813},"21dc82421f81",[],"The infrastructure for high-integrity carbon finance is taking shape. However, as, humanitarian funding gaps widen, and government processes around carbon budgets and Corresponding Adjustments remain slow, the need for robust legal and market frameworks is becoming increasingly urgent.",[],{"_key":816,"_type":20,"children":817,"markDefs":822,"style":28},"995469adb5dc",[818],{"_key":819,"_type":24,"marks":820,"text":821},"a174122e24c6",[],"At Everpath, we believe the most durable projects sit at the intersection of climate, private capital, and social impact. Carbon finance, when structured with integrity and strong partnership, can be a powerful catalyst for long-term delivery.",[],{"_key":824,"_type":20,"children":825,"markDefs":835,"style":28},"c2c246d96559",[826,830],{"_key":827,"_type":24,"marks":828,"text":829},"4eb600c3184a",[],"To connect with our team: ",{"_key":831,"_type":24,"marks":832,"text":834},"247c72b976e9",[833],"cffaf627b4aa","environmental.projects@bbenergy.com",[836],{"_key":833,"_type":191,"href":837},"mailto:environmental.projects@bbenergy.com","What We Heard Across the Conference",{"reverse_content":68},[841],{"_key":842,"_type":20,"children":843,"markDefs":848,"style":28},"127cfa7dcdc7",[844],{"_key":845,"_type":24,"marks":846,"text":847},"9714482da5ed",[],"From the 11th – 13th of May, the Everpath team headed to Nice for the Argus Media Europe Carbon Conference. 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