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North America Carbon Credit Market Trends

  • Report ID: GMI7243
  • Published Date: Oct 2023
  • Report Format: PDF

North America Carbon Credit Market Trends

The escalating demand for carbon offsets, driven by mounting pressure on both companies and governments to reduce their carbon emissions, is set to reshape the industry. This surge in demand empowers organizations to compensate for emissions that may be challenging to reduce internally, thus driving their sustainability goals forward. Notably, nature-based solutions, including reforestation, afforestation, and sustainable land management projects, have taken center stage. These initiatives not only effectively capture carbon but also deliver additional advantages such as the preservation of biodiversity and the restoration of ecosystems.
 

Advancements in technology, particularly in the fields of data analytics and blockchain, have brought about increased transparency and traceability in the carbon credit trading process. The utilization of blockchain technology is instrumental in creating immutable records of carbon credits, mitigating the risk of double-counting and fraudulent activities.

Authors: Ankit Gupta, Shashank Sisodia

Frequently Asked Questions (FAQ) :

The market valuation of North America carbon credit was surpassed USD 16.3 billion in 2023 and is set to exhibit over 15.5% CAGR from 2024 to 2032, owing to the increasing adoption of carbon pricing mechanisms and the rising need for corporate sustainability efforts.

North America compliance carbon credit market is set to expand at over 14.5% CAGR from 2023 to 2032, attributed to the rising regulatory changes, and the evolving sustainability goals.

The U.S. accounted for more than 52.2% share of the North America carbon credit market in 2022 and is expected to record robust growth through 2032, driven by the rising corporate demand coupled with expanding renewable energy credit (RECs).

Some of the top North America carbon credit firms are 3Degrees, VERRA, TerraPass, Anew Climate, LLC, The Nature Conservancy, Carbon Credit Capital, LLC., Silicon Valley Clean Energy, EcoAct, PwC, Sterling Planet Inc., Green Mountain Energy Company, and DUCKS UNLIMITED.

North America Carbon Credit Market Scope

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  • Base Year: 2023
  • Companies covered: 16
  • Tables & Figures: 126
  • Countries covered: 3
  • Pages: 140
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