About

A merchant house for environmental commodities.

Founder-led. Transaction-focused.
Built by market practitioners, for market practitioners.

The Firm

The missing commercial layer.

Most participants in carbon markets have the asset or the obligation — but not the desk. Compliance teams are stretched. Developers are builders, not marketers. The commercial layer — pricing judgment, counterparty networks, negotiation, execution — is missing.

Carbon Merchant is that layer. We come from the same rooms our clients sit in: compliance desks, project boards, fund structures. We built the firm we kept looking for and couldn't find — closer to a merchant house or trading boutique than a sustainability consultancy.

We engage where commercial outcomes are decided: post-FID, at validation, at issuance, and post-issuance. We don't sell feasibility studies — we sell execution.

Leadership

Who you're dealing with.

In a market built on discretion, you should know exactly who sits across the table.

Ana Avramovic, Founder of Carbon Merchant

Ana Avramovic

Founder

Ana founded Carbon Merchant after twenty years in energy and environmental markets. She began her career trading real-time WECC power at TransAlta, one of Canada's largest publicly traded power generators, then moved into a customer-facing role selling power, gas, and RECs to large industrial and commercial customers. She went on to bring demand response to Alberta's industrials, building a virtual power plant in the province, before moving into cross-commodity origination and structuring. From there she turned her focus to the commercial side of Canadian carbon and clean fuel markets: structuring credit transactions, advising obligated parties and project developers, and building fund infrastructure for emission-reduction investment. She works across Alberta TIER, BC OBPS, the federal OBPS, the federal Clean Fuel Regulations, BC LCFS, and the global voluntary market.

LinkedIn →

Behind the firm sits a working network of market operators, policy specialists, and transaction experts, engaged mandate by mandate, so every engagement gets a full bench without carrying one.

Selected Commentary

On the record.

Ana is a regular voice in the trade press on Canadian carbon and clean fuel markets — quoted on policy, pricing, and market structure by the publications this market actually reads.

Financial Post13 Jul 2026

Alberta to provide oilsands producers incentives to fill pipeline

"Canada and Alberta have a strong history of highly credible carbon markets, where credits have represented real reductions. That track record is why the world takes us seriously."
Read →
Quantum Commodity Intelligence10 Feb 2026

Canada's carbon-pricing patchwork at a 'crossroads'

"There are certain methodologies or project types that may have more consistency across the different markets. Those could be potentially fungible more quickly."
Read →
Carbon Pulse19 Jan 2026

On credit buybacks and market design

"Once government becomes a buyer of last resort, the system stops behaving like a market and starts behaving like an administered price band. The fix is not to ask taxpayers to clean up oversupply; the fix is to strengthen the rules of the game."
Read →
Quantum Commodity Intelligence9 Jan 2026

Alberta Tier market braces for a defining year ahead

"Tier has gone from being a fairly boring, bankable piece of the policy stack to a moving political target. That shows up immediately in risk premiums, board-level hesitation, and delayed final investment decisions."
Read →
Quantum Commodity Intelligence30 Dec 2025

2026 Preview: US, Canada markets hinge on rulemaking, politics

"Get it right, and Alberta can rebuild its reputation as a serious, investable climate-policy jurisdiction. Get it wrong, and it reinforces a narrative that will be hard to unwind."
Read →
Quantum Commodity Intelligence15 Aug 2025

Canada eyes CDR supremacy with provincial progress

"British Columbia's newly adopted Carbon Capture and Sequestration protocol aligns closely with Alberta's mature Tier CCS framework, positioning BC as a key leader in Canada's national carbon dioxide removal strategy."
Read →
Biogas TV · Season 4, Ep. 3Video

Canadian CFR Opportunities

A 30-minute conversation on opportunities in Canada for RNG offtake under the federal Clean Fuel Regulations — credit generation, counterparties, and where the market is clearing.
Watch →
Media & Commentary

For interviews, panels, and market commentary:

hello@carbonmerchant.ca →
Discretion Is the Product

Through price discovery and negotiation, the market sees Carbon Merchant — not you. Your name is disclosed only at confirmation, to the one counterparty you've chosen to contract with. Everyone you didn't trade with never learns you were in the market.

We engage where commercial outcomes are decided — post-FID, at validation, at issuance, and post-issuance — and we execute quietly. No client is named, referenced, or implied in our marketing, our conversations, or our content. Ever.
The First Conversation

A working session, not a pitch.

Thirty minutes. You bring the position — the obligation, the credits, or the deal. Here's what you leave with, whether or not we ever work together:

  1. A read on your market. Where your credit class or compliance segment is actually clearing, and what's moving it.
  2. A view on your structure. Whether agency or advisory economics fit your position — and why.
  3. One concrete next move. The single highest-leverage action for your book, named plainly.