Carbon Capital emerged from a vision. Barbara Ann Bernard, a trusted advisor in investment banking and asset management, believed that if carbon were a currency, she could apply the lessons she learned about financing companies to financing a country’s energy transition. For carbon to be a currency, it required transparency and digitization, prices needed to be market-based, it required liquidity, and the ability to settle globally, 24/7. For carbon to become currency for climate change, it needed an exchange.