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Voluntary Carbon Credit Market Trends

Report ID: GMI6937
Published Date: Oct 2023
Report Format: PDF

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Voluntary Carbon Credit Market Trends

Voluntary Carbon Credit Market Size, 2021 - 2032 (USD Billion)

The voluntary carbon credit industry is undergoing significant transformation, shaped by a range of dynamic trends. Corporations are making substantial sustainability commitments, driving increased demand for carbon credits to offset emissions. Nature-based solutions, including afforestation and reforestation, are gaining prominence, offering both carbon sequestration and ecological benefits. High-quality standards, such as the Verified Carbon Standard, are becoming essential, ensuring rigorous measurement and verification criteria.

Digitalization, particularly through blockchain technology, is enhancing transparency in the marketplace. Carbon credits are increasingly viewed as impact investments, attracting interest from environmentally-conscious investors. Financial institutions are integrating carbon credits into green finance and investment products.

Authors: Ankit Gupta, Shashank Sisodia

Frequently Asked Questions (FAQ) :

The market valuation of voluntary carbon credit was surpassed USD 2.4 billion in 2023 and is set to expand at over 27% CAGR from 2024 to 2032, driven by the expanding carbon pricing mechanism coupled with increasing demand for corporate sustainability initiatives backed by favorable government policies.

Voluntary carbon credit market size from the forestry and land-use end-use segment is poised to witness more than 27.9% growth rate between 2023 and 2032, owing to the ongoing afforestation and reforestation efforts.

Asia Pacific market for voluntary carbon credit will expand at over 31.5% CAGR from 2023 and 2032, attributed to the surging renewable energy investments, particularly in solar and wind projects.

Some of the top voluntary carbon credit industry players are Carbon Trust, Climate Impact Partners, South Pole, 3Degrees, VERRA, TerraPass, CarbonClear, Shell, Microsoft, PwC, EcoAct, ClimeCo LLC., Ecosecurities, ALLCOT, Atmosfair, and The Carbon Collective Company.