Carbon Credits in 2024: What to Expect in 2025 and Beyond ($250B by 2050)
In 2024, more climate commitments were reported. Over 2,700 companies set science-based climate targets, a 65% increase from 2023. As deadlines approach, many companies will need to rely on carbon credits to meet their goals.
The global carbon credit market in 2024 remained stagnant, valued at around US$1.4 billion, per MSCI report. Demand for carbon credits—measured by the number of credits “retired” or permanently used—did not grow significantly. Carbon prices, meanwhile, continued to fall.
However, the market is showing signs of potential growth. With more companies committing to ambitious climate goals and new policies emerging, experts believe the market could expand significantly.
- By 2030, the market is projected to reach between $7 billion and $35 billion, and by 2050, it could climb to $250 billion.
Carbon Credits in 2024: Key Numbers
Carbon credits allow businesses and governments to offset their greenhouse gas emissions. Each credit represents one ton of carbon dioxide either reduced or removed from the atmosphere. These credits come from a variety of p( article continues at CarbonCredits.com )