- Mike Zehetmayr brings over 35 years of financial markets and technology experience to the role, including senior roles at EY & IBM
- The appointment signifies the UK CMF’s commitment to delivery as carbon credit markets professionalise
- The UK’s carbon credit economy already generates £1.2bn annually, with the global market projected to grow 190 times its current size by 2050
The UK Carbon Markets Forum (CMF) today announces the appointment of Mike Zehetmayr, UK Financial Services Partner at EY, as its new Chair. The CMF is a private sector initiative designed to scale global carbon credit markets, supported by the City of London Corporation.
This appointment marks a new chapter, as the Forum turns its focus to putting climate on the balance sheet, and broadening membership to a wider range of voices from across finance, technology and sustainability. Zehetmayr succeeds Dame Clara Furse, who led the CMF since its founding in 2021.
Zehetmayr brings over three decades of experience building and scaling financial markets infrastructure, including senior roles at EY and IBM. Within his current role at EY, he led EY’s advisory work on the Great British Tokenised Deposits project, a pilot bringing together six of the UK’s largest banks to develop next-generation tokenised payment infrastructure. He also serves as a Board Trustee of Lincolnshire Wildlife Trust.
Mike Zehetmayr, Chair of the UK Carbon Markets Forum, 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.”
A recent report by the CMF found that the UK carbon credit economy already generates £1.2bn annually, and the global market for carbon credits is projected to grow up to 190 times its current value by 2050.
Over the next 12 months, the CMF will focus on turning its ambitions into practical action to support the growth of global carbon markets. It will work closely with Government and international partners to help shape emerging policy frameworks, while advancing solutions to strengthen market infrastructure and enable greater cross-border activity.
Alongside this, the CMF will seek to build a stronger commercial case for carbon credit use, supported by targeted engagement to broaden participation across corporates and financial institutions. Together, these efforts will support the development of carbon markets that are trusted, efficient and globally competitive.
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.”
Rachel Blake, Economic Secretary to the 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.”
