Global Carbon Credit Trading Platform Market Size to Reach USD 1,019.3 Million in 2032 | Emergen Research

Increasing interest of investors in Environmental, Social, and Governance (ESG) is a key factor driving market revenue growth

Vancouver, Aug. 22, 2023 (GLOBE NEWSWIRE) — The global market for carbon credit trading platforms recorded a size of USD 107.2 million in 2022 and is projected to maintain a steady compound annual growth rate (CAGR) of 25.5% throughout the forecast period, as per the most recent analysis conducted by Emergen Research. The significant surge in technological investments aimed at carbon capture and removal stands out as a primary catalyst propelling the upward trajectory of market revenues.

Carbon credits have garnered escalating popularity as both businesses and individuals seek avenues to curtail their contribution to climate change. This inclination has spurred the fossil fuel sector to enhance its operational efficiency. A carbon credit denotes the entitlement to emit either one metric ton of Carbon Dioxide (CO2) or an equivalent measure of other Greenhouse Gases (GHG). This entitlement takes the form of a transferable permit or certificate, known as a carbon credit. It is worth noting that the existing market for carbon offsets presents certain inefficiencies. At present, carbon credits are predominantly traded in bulk quantities to larger corporations, presenting a challenge for smaller entities or individuals desiring to procure offsets for mitigating their environmental impact.

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Member states possess the opportunity to secure funds from the Social Climate Fund for financing investments and structural enhancements. These endeavors encompass areas such as zero and low-emission transportation, encompassing public transit, as well as initiatives related to energy conservation, structure revitalization, clean heating and cooling solutions, and the integration of renewable energy sources. Additionally, member states have the discretion to allocate a portion of their budget to offer temporary direct income support. This measure is contingent upon the outcomes stemming from investments aimed at reducing emissions and minimizing energy expenses for socioeconomically disadvantaged groups.

However, a notable challenge arises in the form of extended lead times that suppliers encounter while assessing the effectiveness of new carbon credits. This evaluation is a pivotal stage in upholding the integrity of the market. Suppliers engaged in the sale of these credits contend with erratic demand patterns and infrequent access to equitable pricing. The market exhibits a prevailing lack of liquidity, limited financial backing, inadequate risk management services, and restricted availability of data. These combined factors have the potential to impede the growth of market revenue.

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Scope of Research

Major Companies and Competitive Landscape

The global carbon credit trading platform market is consolidated, with few companies accounting for majority market revenue. Major companies are deploying various strategies, entering mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective carbon credit trading platforms. Some major companies included in the global carbon credit trading platform market report are:

• Nasdaq Inc.
• EEX Group
• AirCarbon Exchange
• Carbon Trade Exchange
• IHS Markit
• CME Group
• Climate Impact X
• Carbonplace
• Likvidi
• BetaCarbon
• ClimateTrade
• Veridium
• ShiftCabon

Strategic Development

• On 28 March 2023, India’s power ministry produced a draught carbon credit trading scheme to create a national carbon credit market. The draught scheme suggests a framework for the Indian carbon credit market that will be governed by a governing board made up of secretary and joint ministers of the environment, nuclear power, energy from renewable sources, steel, coal, and oil ministries. This framework will be used for both voluntary trade and compliance.

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Some Key Highlights From the Report

• The Voluntary Carbon Market (VCM) segment accounted for largest revenue share in the global carbon credit trading platform market in 2022. This is because VCM is unregulated by the government and need for VCM has increased due to Paris Agreement’s strict business net zero goals. The VCM works on a voluntary basis, allowing organizations and people to go above and beyond mandated targets in their climate action. Participants in the VCM can purchase carbon credits from programs, such as renewable energy, forestry, or energy efficiency, that reduce or eliminate greenhouse gas emissions. Organizations as well as people can claim to have offset their own carbon emissions by buying these credits, aiding in efforts to mitigate global warming.
• The exchange platforms segment accounted for largest revenue share in 2022. This is because exchanges for carbon credits can be made secure, standardized, and in real time using blockchain technology. This contains all the data about carbon credit, which may be used including transaction records, auditing, third-party certification information, and project monitoring.
• The Asia Pacific market is expected to register fastest revenue growth rate in the global carbon credit trading platform market during the forecast period. This is because Asia Pacific market has many carbon exchanges, which are becoming more significant in the struggle against climate change. Singapore has instituted a required carbon tax since 2019 to incentivize businesses to cut their emissions, while South Korea became the first developing economy to establish a countrywide mandatory Emissions Trading System (ETS).
• On 13 September 2021, The Public Investment Fund of Saudi Arabia intends to set up a trading system for carbon offsets and credits throughout the Middle East and North Africa region, working with the Saudi Tadawul Group (Saudi Stock Exchange). Since current regulations permit the worldwide transfer of credits, both local and foreign carbon emitters can trade on this market.

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Emergen Research has segmented the global carbon credit trading platform market on the basis of type, system type, platform type, technology, end-use, and region:

• Type Outlook (Revenue, USD Million; 2019–2032)
  • Voluntary Carbon Market
  • Regulated Carbon market
• System Type Outlook (Revenue, USD Million; 2019–2032)
  • Cap and Trade
  • Baseline and Credit
• Platform Type Outlook (Revenue, USD Million; 2019–2032)
  • Exchange Platforms
  • Registry Platforms
• Technology Outlook (Revenue, USD Million; 2019–2032)
  • Blockchain-based Platforms
  • Others
• End-Use Outlook (Revenue, USD Million; 2019–2032)
  • Industrial
  • Energy & Utilities
  • Petrochemicals
  • Aviation
  • Others
• Regional Outlook (Revenue, USD Million; 2019–2030)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. France
    3. U.K.
    4. Italy
    5. Spain
    6. Benelux
    7. Rest of Europe
  • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. South Africa
    4. Turkey
    5. Rest of MEA

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