Carbon Credit Market Size, Share , Latest Trends, Key Players And Forecast To 2033

The Business Research Company recently released a comprehensive report on the Global Carbon Credit Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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Market Drivers and Trends:

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.

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.

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Major Key Players of the Market:

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.

Carbon Credit Market 2024 Key Insights:

• The carbon credit market is expected to grow to $1473.51 billion in 2028 at a compound annual growth rate (CAGR) of 29.4%.
• Growing Imperative To Curb Global Carbon Emissions Fuels Carbon Credit Market Growth
• Carbon Credit Market Leaders Harness Blockchain Technology For Enhanced Customer Service
• North America was the largest region in the carbon credit market in 2023

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