A CLIMATE DECODE ORIGINAL · NEW EPISODE WEEKLY

Carbon markets, decoded. On video.

The Decode follows the money in carbon markets — one story a week, every number from a primary source. Hosted by Vaibhav Jain. Watch the episode, then read the full analysis with sources on the same page.

Hosted by Vaibhav Jain · Climate Decode · 10–13 minutes per episode

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The Decode Episode 2 — Who's really to blame for Canada's wildfires?
Episode 02 · July 19, 2026 · 13 min

Who’s really to blame for Canada’s wildfires? The $95 that isn’t $95.

Ontario burns while the headline price says $95. What emitters really pay in four provinces, the quiet $170→$115 revision — and the fire-management model Australia already runs inside its carbon market.

The Decode Episode 1 — Why did Microsoft's emissions jump 25% on purpose?
Episode 01 · July 15, 2026 · 10 min

Why did Microsoft’s emissions jump 25% — on purpose?

The highest total Microsoft has ever reported — and why a large slice of the jump is an accounting confession. Physics vs paperwork, the spot-REC exit, and what tightening additionality means for every buyer.

Episode 3 is in production.

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