Here we document a lecture by Renat Heuberger, co-founder of South Pole, author, and investor, which he gave on December 8, 2025, at a GES event in Ulm.
Renat Heuberger has years of experience with CO2markets, is familiar with the relevant certificates, and knows what this economic instrument can achieve. But he is also aware of the difficult conditions in practice. This is the subject of his book “The Carbon Paradox.” Renat Heuberger also points out ways in which climate certificates can be better utilized.




