Global Carbon Credit Market, By Sector (Energy, Transportation, Residential and Commercial Buildings, Industry, Agriculture, Forestry, and Water and Wastewater), By Region (North America, Latin America, Europe, Middle East & Africa, and Asia Pacific)

Published In : May 2023

Code : CMI4382

Pages :150

Formats :

Excel and PDF

Industry : Information and Communication Technology

Regional Analysis

Global Carbon Credit Market: Regional Insights

Europe held a dominant position in the global carbon credit market in 2022, accounting for 51.2% share in terms of value, followed by North America and Asia Pacific. Europe is expected to account for the largest market share during the forecast period. The developed countries in Europe such as the U.K, Germany, and other European countries are considered prominent buyers in the global carbon credit market. In order to become climate-neutral EU by 2050, the European Union launched EU Emissions Trading System (EU ETS) in 2005, an international emissions trading system. The EU Emissions Trading System (EU ETS) initiative is divided into four timely phased manner in which carbon emission is reduced in order to reduce greenhouse gas effects by at least 40% by 2030 compared to 1990 (as per Paris agreement, initiated in December 2015).

Asia Pacific is expected to exhibit significant growth during the forecast period. India is becoming one of the emerging players in the global carbon credit market. As India's greenhouse gas (GHG) emission is below the carbon cap limit, Indian companies are entitled to sell surplus credits to developed countries.