Global Carbon Market Value Report

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The global voluntary carbon market, valued at US$2,004.85 million in 2021, is projected to reach 17.11 billion by 2027. The voluntary carbon market traded volume, which reached 298.15 MtCO2e in 2021, is expected to grow to 678.56 MtCO2e by 2027. This market enables carbon emitters to compensate for their unabated emissions by purchasing carbon credits produced by projects aimed at removing or reducing greenhouse gas (GHG) emissions from the atmosphere.

In recent years, there has been a surge in momentum among global corporates to accelerate climate actions. This is driven by increasing pressure from governments, society, and financial market players. Despite concerns around the practice of using carbon offsets as part of corporates’ environmental strategies, corporate pledges have resulted in explosive growth in demand for voluntary carbon credits. The global voluntary carbon market is set to grow at a CAGR of 42.91% over the forecasted period of 2022-2027. At the same time, the voluntary carbon market traded volume is expected to grow at a CAGR of 14.69%.

The report provides a detailed analysis of the market based on project category, type of projects, and region. It also discusses the growth drivers, challenges, trends, and the impact of COVID-19 on the market. The report further provides a competitive landscape of the global voluntary carbon market.

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The global voluntary carbon market, characterized by its high integrity, transparency, and credibility, was valued at US$2,004.85 million in 2021 and is expected to reach 17.11 billion by 2027. This market, which is a hub of innovation/change, enables carbon emitters to compensate for their unabated emissions by purchasing carbon credits produced by projects aimed at removing or reducing greenhouse gas (GHG) emissions from the atmosphere.

In recent years, there has been a surge in partnership and exchange among global corporates to accelerate climate actions. This is driven by increasing pressure from governments, society, and financial market players. Despite concerns around the practice of using carbon offsets as part of corporates’ environmental strategies, corporate pledges have resulted in ‘positively-disruptive’ growth in demand for voluntary carbon credits.

The global voluntary carbon market, which is constantly evolving and introducing different/new strategies, is set to grow at a CAGR of 42.91% over the forecasted period of 2022-2027. This data-driven market is also expected to see the voluntary carbon market traded volume grow at a CAGR of 14.69%.

The report provides a detailed analysis of the market based on project category, type of projects, and region. It also discusses the growth drivers, challenges, trends, and the impact of COVID-19 on the market. The report further provides a competitive landscape of the global voluntary carbon market, highlighting the importance of risk-mitigation and regulatory compliance in the industry.

In 2021, Verra held the highest share of the credit issued, followed by California Air Resources Board. In 2022, South Pole announced that the company joined new Forest Stewardship Council (FSC) Climate Coalition Initiative. FSC aims to ensure that Indigenous Peoples, smallholders, and forest stewards benefit from participating in certification and the growing carbon market. Whereas, 3Degrees announced the launch of new climate tech advisory services, which complement the company’s existing suite of climate advisory and implementation services.
Read the full report: https://www.reportlinker.com/p06370532/?utm_source=GNW

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