Carbon Offset MarketSize and Trends
The Global Carbon Offset Market is estimated to be valued at US$ 414.80 billion in 2023 and is expected to reach US$ 1,800.62 billion by 2030, growing at a compound annual growth rate (CAGR) of 23.3% from 2023 to 2030.
Carbon Offset Market Trends:
- Corporate Emission Commitments: Increasing numbers of corporations are setting ambitious net-zero and carbon neutrality targets. This trend is driving higher demand for carbon offset projects to help bridge the gap between current emissions and the target goals.
- Voluntary vs. Regulatory Markets: Both voluntary and regulatory carbon offset markets are expanding. While regulatory markets are driven by government policies and compliance obligations, voluntary markets are witnessing growth due to corporate sustainability initiatives and consumer demands for environmentally responsible products and services.
- Technological Innovation: Technological advancements are enabling new and more efficient carbon offset solutions. Innovations in satellite imagery, remote sensing, blockchain, and data analytics enhance accuracy, transparency, and traceability in offset project development and verification.
- Nature-Based Solutions: Nature-based solutions, such as afforestation, reforestation, and soil carbon sequestration, are gaining prominence. These projects not only mitigate carbon emissions but also offer co-benefits like biodiversity conservation, habitat restoration, and sustainable land management. For instance, NativeEnergy is a company specializing in accounting software, carbon offsets, and renewable energy credits, launched a new product called "Forest Carbon Offsets" in March 2023. These offsets are designed to offset the emissions of businesses and individuals by funding projects that protect and restore forests.
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