Carbon Offset/Carbon Credit Market Anticipated to Hit $1602.7 Billion by 2028 | Finite Carbon, South Pole, NativeEnergy, 3Degrees, EKI Energy Services

The global Carbon Offset/Carbon Credit Market is expected to grow from an estimated USD 414.8 billion in 2023 to USD 1,602.7 billion by 2028, at a CAGR of 31.0% during the forecast period. The Carbon Offset/Carbon Credit Market growth has been attributed to rising global warming and the need to remove carbon from the atmosphere. The market is driven by factors such as growing compliance requirements and regulatory schemes across the regions.

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As the world moves toward net zero targets, companies are putting considerable effort and capital into decarbonization. Climate change usually requires a complete economic shift. The demand for carbon credits will significantly grow in the coming decades as the companies are focused on net zero targets and are working toward reducing carbon emissions. A carbon credit represents the right to emit greenhouse gases equivalent to one ton of carbon dioxide. Several businesses are now adopting this technique of partially using carbon credits, which is benefitting them significantly. They are getting involved in projects and activities that are helping them generate offsets. They use as many credits as they want according to the limit set for a project and if they have a few left, they are used later for another project. This not only helps them save a significant amount of money, which can aid them in investing in more such credits in the future when required. Hence, these factors help in driving the market for carbon offset/credits.

The demand for carbon credits will grow significantly in the coming decades. The voluntary offset market offers an opportunity to achieve global greenhouse emission reductions while addressing the development needs of developing countries. Involving developing nations in climate protection allows them to achieve carbon emission reduction and avoidance while earning revenues from selling their offsets. They can then use the revenues to finance development projects for the poor communities in their countries. Carbon projects are designed to maximize nature's contribution to the fight against climate change. By protecting and restoring forests, grasslands, and other ecosystems, the increased carbon storage can be measured and turned into carbon credits, which leading companies and individuals can buy to help them meet their climate goals. The goal is to develop bankable carbon initiatives to show they can deliver conservation, community, and financial returns, to encourage others to replicate the model, and together achieve large-scale wins for climate, biodiversity, and livelihood across Africa.

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Asia Pacific is expected to be the fastest growing region in the carbon offset/carbon credit market

Asia Pacific is expected to fastest growing region in the carbon offset/carbon credit market between 2023-2028, followed by the Europe. ETS could become a major climate policy tool to help China realize its Nationally Determined Contribution (NDC) to the Paris Agreement on climate change and its long-term low-carbon strategy. Hence, these factors are expected to fuel the growth of the market in the Asia Pacific region.

Europe is expected to be the largest region in the Carbon Offset/Carbon Credit Market

Europe is expected to be the largest Carbon Offset/Carbon Credit Market during the forecast period. The market growth in Europe can be attributed to the rising focus on decarbonization with the increased investments in green technologies in the region.

Key Market Players:

Some of the major players in the Carbon Offset/Carbon Credit Market are South Pole Group (Switzerland), 3Degrees (US), Finite Carbon (US), EKI Energy Services Ltd. (India), and NativeEnergy (US).

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