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Carbon Markets: Trends and Growth Opportunities

Carbon Pricing Operates as an Instrument to Tackle Emissions and Accelerate the Transition to Net Zero

INDUSTRY
Energy

RELEASE DATE
11-Mar-2024

REGION
Global

DELIVERABLE TYPE
Market Research

RESEARCH CODE
K99F-01-00-00-00

SKU
EG_2024_622

Carbon Markets: Trends and Growth Opportunities
Published on: 11-Mar-2024 | SKU: EG_2024_622

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Description

Carbon markets are trading systems that use greenhouse gas (GHG) emissions as a commodity, setting a price on them based on the value of the emitted carbon dioxide. Companies can purchase and sell carbon credits or carbon offsets to compensate for their GHG emissions. There are two main types of carbon pricing initiatives, mandatory and voluntary, resulting in two types of carbon markets, mandatory carbon markets (MCMs) and voluntary carbon markets (VCMs). Carbon markets are a cost-effective way to reduce GHG emissions and support sustainability drives. Evolving carbon pricing initiatives, both mandatory and voluntary, are expected to make a significant contribution to helping governments and corporations across the world achieve net-zero targets as the deadlines to meet them get closer. Estimated at $821 billion in 2023, the carbon market is set to reach $1750 billion by 2030. MCMs will expand in both size and sector coverage due to increasing demand and new government regulations.

This study delves into the mechanics of MCMs and VCMs, analyzing the factors that drive their expansion and the barriers that restrain their growth. The study identifies the growth opportunities emerging from the changes in this space and outlines key initiatives, prominent players, and noteworthy projects. It analyzes the prevailing trends reshaping the landscape (such as the convergence of MCMs and VCMs, the use of digital technologies, and the shift from nature-based to technology-based credits) and forecasts the trajectory of the market, projecting its evolution up to 2030.

Infographic

Table of Contents

Strategic Imperatives

Why is it Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top 3 Strategic Imperatives on Carbon Markets

Growth Opportunities Fuel the Growth Pipeline Engine™

Scope of Analysis

Segmentation

Key Predictions

Growth Environment: MCMs

MCM Instruments

Coverage Provided by Carbon Pricing Initiatives

Carbon Pricing Initiatives

Key MCMs: EU

Key MCMs: United States

Key MCMs: China

Key MCMs: United Kingdom

Key MCMs: South Korea

Key MCMs: Japan

Key MCMs: New Zealand

Key MCMs: Australia

Other Relevant MCMs

Other Relevant MCMs (continued)

Growth Environment: VCMs

Voluntary Carbon Instruments

Nature-based Solutions and Technology-based Solutions

VCM Locations

Key Certification Standards

VCM Structure

Key Carbon-offsetting Projects—2023

Buyers of Carbon Offsets

Growth Opportunity Analysis

Revenue Forecast: Carbon Markets

Revenue Forecast: MCMs

Revenue Forecast: VCMs

Growth Drivers

Growth Restraints

Key Trends in Carbon Markets

Trend 1—Convergence of VCMs and MCMs

Trend 2—Digital Technologies for Carbon Reporting, Monitoring, and Tracking

Trend 3—VCMs: Shift from Reduction and Avoidance to Removal

Trend 4—VCMs: Shift from Nature-based Credits to Technology-based Credits

Trend 5—Higher Standardization across Voluntary Carbon Credits

Growth Opportunity Universe

Growth Opportunity 1: Expansion of MCM Coverage to Smaller Emitters

Growth Opportunity 1: Expansion of MCM Coverage to Smaller Emitters (continued)

Growth Opportunity 2: Digital Technologies in VCMs

Growth Opportunity 2: Digital Technologies in VCMs (continued)

Growth Opportunity 3: Tailored Portfolio

Growth Opportunity 3: Tailored Portfolio (continued)

Appendix

Partial List of Acronyms

List of Mandatory Carbon Pricing Initiatives: ETS

List of Mandatory Carbon Pricing Initiatives: Carbon Taxes

List of Exhibits

Legal Disclaimer

List of Figures & Charts

List of Figures

Carbon Markets: Share of GHG Covered by Carbon Pricing Initiatives, Global, 2023
Carbon Markets: Offset Credits Issued by Standards, Global, 2023
Carbon Markets: Where Companies Buy Offsets From, Global, 2023
Carbon Markets: Revenue Forecast, Global, 2020–2030
MCMs: Revenue Forecast, Global, 2020–2030
VCMs: Revenue Forecast, Global, 2020–2030
Carbon Markets: Growth Drivers, Global, 2024–2030
Carbon Markets: Growth Restraints, Global, 2024–2030
Carbon Market: Current VCM Projects, Global, 2023

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