The carbon credit global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Carbon Credit Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The carbon credit market size has grown exponentially in recent years. It will grow from $398.4 billion in 2023 to $526.32 billion in 2024 at a compound annual growth rate (CAGR) of 32.1%. The growth in the historic period can be attributed to international climate agreements, corporate social responsibility (csr), renewable energy projects, forest conservation and reforestation, emission reduction projects..
The carbon credit market size is expected to see exponential growth in the next few years. It will grow to $1473.51 billion in 2028 at a compound annual growth rate (CAGR) of 29.4%. The growth in the forecast period can be attributed to climate finance investments, expansion of cap-and-trade systems, global carbon pricing initiatives, supply chain emission reduction.. Major trends in the forecast period include carbon credit offset programs, investment flows into carbon market projects, integration with corporate strategies, blockchain technology for transparency, nature-based solutions..
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Scope Of Carbon Credit Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Carbon Credit Market Overview
Market Drivers –
The growing need to reduce global carbon emissions is expected to propel the growth of the carbon credit market going forward. Carbon emissions are the release of carbon dioxide and other carbon-containing gases into the atmosphere, which trap the heat from the sun and cause the planet to warm. Carbon credits for carbon emissions create a monetary incentive for companies to reduce emissions, and they help the environment by removing carbon from the atmosphere, providing a clear framework for reducing emissions, and boosting economies by investing in sustainable activities. For Instance, in October 2022, the report by the United Nations Framework Convention on Climate Change, a US-based international entity, indicated that CO2 emissions needed to be cut by 45% by 2030 and that to limit global temperature rise to 1.5 degrees Celsius by the end of the century, the emissions reductions needed to be roughly ten times that amount, from 1 to 2 billion tons each year. Therefore, the growing need to reduce global carbon emissions is expected to propel the growth of the carbon credit market.
Market Trends –
Major companies operating in the carbon credit market focus on developing innovative solutions, such as blockchain-based solutions, to provide reliable customer service. A blockchain-based solution is a system that uses blockchain technology to solve a particular problem or improve an existing process. For instance, in May 2023, Ernst & Young Global Limited, a UK-based professional services provider, launched EY OpsChain ESG, a blockchain-based solution for emissions and carbon credit traceability through tokenization. The solution is developed on Ethereum, offering a verifiable view of CO2 emissions for enterprises struggling to accurately measure and track their carbon footprint. It provides transparency for consumers, business partners, and regulators, enabling better-informed decisions on environmental, social, and corporate governance (ESG). EY OpsChain ESG is built to InterWork Alliance for Carbon Emissions Tokens standards and enables enterprises to demonstrate the authenticity of carbon offsets used to reduce environmental impact. EY OpsChain ESG was created with the belief that blockchains may be used as a binding agent to connect corporate operations and global ecosystems across organizational boundaries.
The carbon credit market covered in this report is segmented –
1) By Type: Compliance, Voluntary
2) By Project Type: Avoidance Or Reduction Projects, Removal Or Sequestration Projects
3) By End-Use: Power, Energy, Aviation, Transportation, Buildings, Industrial, Other End-Uses
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Regional Insights –
North America was the largest region in the carbon credit market in 2023. The regions covered in the carbon credit market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the carbon credit market report are NRG Energy Inc., Atos SE, WGL Holdings Inc., Sterling Planet Inc., AltaGas Ltd., EKI Energy Services Limited, Aker Carbon Capture AS, South Pole Group AG, Base Carbon Inc., ClimatePartner Gmbh, Bluesource LLC, 3 Degrees Inc., Carbon Care Asia Limited, Sustainable Travel International Inc., Cool Effect Inc., NativeEnergy Inc., Carbonbetter Inc., ClimeCo Corporation, Tasman Environmental Markets Pty Ltd., Carbon Credit Capital LLC, Carbonfund.org Foundation Inc., Clearsky Climate Solutions LLC, Climate Impact Partners LLC, ClimateTrade Inc., Climetrek Ltd., Finite Carbon Corporation, Forest Carbon Ltd., Moss Earth LLC, NatureOffice Gmbh, Terrapass Inc.
Table of Contents
1. Executive Summary
2. Carbon Credit Market Report Structure
3. Carbon Credit Market Trends And Strategies
4. Carbon Credit Market – Macro Economic Scenario
5. Carbon Credit Market Size And Growth
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27. Carbon Credit Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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