The EU’s Carbon Border Adjustment Mechanism (CBAM) has triggered a significant uptick in the development of carbon markets around the world, as more countries seek to put a price on carbon emissions that may help their industries sidestep Europe’s new carbon tariffs. We will discuss the trends we see both in developed and developing markets, review carbon market policy and regulatory landscape, discuss efforts to decarbonize supply chains and the opportunities and challenges for emerging markets with CBAM.