(MENAFN- EIN Presswire) InsightAce Analytic
International non-profit organizations are investing in the carbon credit market to support and promote scalable climate and environmental measures.
Carbon Credit Market size is valued at US$ 402.58 Billion in 2022, & it is expected to reach US$ 4433.81 Billion in 2031, recording a promising CAGR of 30.72% during the forecast period of 2023-2031” - InsightAce AnalyticJERSEY, NJ, US, June 6, 2023/einpresswire.com / -- A carbon offset also represents a legitimate reduction of CO2 in the atmosphere, leading to the creation of a carbon credit . The distinction is that the credit is earned through the completion of a defined project with a title, project documents, and a verification plan.
In the majority of cases, carbon offsets result in reductions outside of the organization and, more importantly, outside of any regulatory requirement. Environmental cap-and-trade regulations in certain countries, such as the European Union and California, require businesses to offset their carbon footprint. Cap-and-trade permits the Market to determine the most cost-effective strategy for reducing emissions while simultaneously stimulating technological innovation and economic growth.
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In addition, international non-profits are investing in the carbon credit market in order to support and promote scalable climate and environmental measures. For instance, the World Bank, an international financial institution, established the Climate Change Fund Management Unit in 2019 with the intention of developing new financial instruments for climate-resilient development, low-carbon, and intensified climate action.
Market Developments of Significance:
. ClimeCo announced the acquisition of 3GreenTree Ecosystem Service Ltd. (3GreenTree) in January 2023 in an effort to enhance the sustainable management of nature and provide environmental, social, and economic benefits. According to ClimeCo, a global sustainability consultancy with a symphony of industrial and nature-based carbon solutions that satisfy the various climate programme objectives of their clients, resilient systems depend on locally produced and market-based solutions.
. 3Degrees collaborated with Merge Electric Fleet Solutions in November 2022 to provide existing and new fleet customers with actionable analysis and decades of experience. In the fuel states (CA, OR, WA), Merger's charging will be monetized, and all EV charging will be offset with RECs.
Some of the Prominent Players in the Carbon Credit Market are:
.3 Degrees
.AltaGas
.Bluesource Llc
.Carbon Care Asia Limited
.Carbon Credit Capital
.Carbonbetter
.Carbonfund
.Clearsky Climate Solutions
.Climate Impact Partners
.Climate Trade
.Climatepartner Gmbh
.Climeco LLC
.Climetrek Ltd.
.Cool Effect, Inc.
.Degrees Group Inc.
.EcoAct
.Eki Energy Services Ltd.
.Enking International
.Finite Carbon
.Forest Carbon
.Green Mountain Energy
.Moss Earth
.Native Energy
.Natureoffice Gmbh
.South Pole Group
.Sterling Planet, Inc.
.Sustainable Travel International
.Tasman Environmental Markets
.Terrapass
.WGL Holdings, Inc.
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Market Behavior:
Drivers:
During the forecast period, the global carbon credit market is anticipated to expand significantly due to increased investment in the carbon credit industry. The carbon credit market is currently restricted to businesses coping with carbon emissions and regulations. The swiftly expanding global carbon credit market, on the other hand, is likely to attract funding from venture capitalists, banks, and other financial institutions.
Challenges:
Carbon credit prices will increase in the coming years as a result of the urgent need to keep global warming below 2 degrees Celsius, which is driving stricter emission limits and fewer supply permits. In addition, the participation of multinational corporations, financial institutions, speculative traders, and investors has fuelled global carbon credit trades. To achieve the global net-zero goal, businesses must reduce their emissions to the greatest extent feasible. However, reducing emissions with today's technologies is too costly for some businesses, despite the fact that the costs of these technologies may decline over time.
Regional Tendencies:
In the near future, the Asia-Pacific carbon offset/carbon credit market is anticipated to account for a sizable portion of the market's revenue and to grow at a rapid rate. Asia-Pacific is anticipated to develop rapidly. The establishment of a new and regulated carbon credits market permits India to experiment with the concept while it is still in its infancy internationally. It creates enormous opportunities for Indian organisations engaged in the creation of knowledge and the provision of consulting services to international clients to learn and assist in the creation and implementation of carbon markets globally, which could even be decentralised to meet the specific needs of diverse economies.
In addition, Europe's industrial expansion has been substantial, resulting in an increase in demand for carbon credit trading systems. Regional market expansion is driven by investments in clean electricity generation, electrification, and the replacement of ageing infrastructure.
Leading manufacturers in this industry prioritise providing clients with high-quality, customizable services. Additionally, partnerships, collaborations, mergers, and acquisitions assist market participants in expanding their enterprises.
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Market Segments:
Market Size (Value US$ Bn) & Forecasts and Trend Analyses, 2023 to 2031 based on Type
Voluntary Market
Forestry and Land Use
Renewable Energy
Chemical Processes/Industrial Manufacturing
Energy Efficiency/Fuel Switching
Compliance Market
EU ETS
California CAP and Trade
Others
Market Size (Value US$ Bn) & Forecasts and Trend Analyses, 2023 to 2031 based on Type of Project
Avoidance/Reduction Projects
Removal/Sequestration Projects
Nature-Based
Technology-Based
Market Size (Value US$ Bn) & Forecasts and Trend Analyses, 2023 to 2031 based on Application
Aviation
Building
Energy
Industrial
Power
Transportation
Others
Market Size (Value US$ Bn) & Forecasts and Trend Analyses, 2023 to 2031 based on Region
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
North America Carbon Credit market revenue (US$ Million) by Country, 2023 to 2031
U.S.
Canada
Europe Carbon Credit market revenue (US$ Million) by Country, 2023 to 2031
Germany
France
Italy
Spain
Russia
Rest of Europe
Asia Pacific Carbon Credit market revenue (US$ Million) by Country, 2023 to 2031
India
China
Japan
South Korea
Australia & New Zealand
Latin America Carbon Credit market revenue (US$ Million) by Country, 2023 to 2031
Brazil
Mexico
Rest of Latin America
Middle East & Africa Carbon Credit market revenue (US$ Million) by Country, 2023 to 2031
GCC Countries
South Africa
Rest of Middle East & Africa
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