Global Carbon Credit Market Report 2023: Rising Carbon Emissions Drives Growth
Retrieved on:
Wednesday, April 19, 2023
Carbon, UK Emissions Trading Scheme, VCM, ETS, Policy, Segment, COVID-19, Aviation, Shock, Microsoft, Energy, GHG, European Union Emissions Trading System, Steel, Cooperative Mechanisms under Article 6 of the Paris Agreement, Government, NDC, Regional Greenhouse Gas Initiative, Amazon, Greenhouse gas emissions by the United Kingdom, Parity, Climate change, CCM, UK ETS, European Economic Area, EU ETS, RGGI, United Kingdom, Paris, Growth, Article, Renewable energy, Bank, Tourism, Tissue paper, EEA, EU, CORSIA
The global carbon credit market traded value was US$978.56 billion in 2022.
Key Points:
- The global carbon credit market traded value was US$978.56 billion in 2022.
- At present, the overall carbon market is mainly characterized by the degree of regulation, namely the regulated compliance carbon market (CCM) and the unregulated voluntary carbon market (VCM).
- The global carbon credit market has been growing over the past few years, due to factors such as the rising carbon emission, increasing corporate efforts in carbon offsetting, increase in adoption of net zero targets, increasing demand for natural climate solutions, establishment of CORSIA, etc.
- Since the lack of governance and unified standards make it difficult for market participants to verify the quality of a given carbon credit, it became a hurdle for market growth.