The Global Carbon Offset Market Growth Accelerated By Offset Demand For Carbon Reduction Goals

https://www.coherentmarketinsights.com/market-insight/carbon-offset-market-6177
Carbon Offset Market 


Carbon offsets are widely adopted as a cost-effective solution to achieve carbon reduction targets and meet voluntary as well as compliance obligations. Offsets enable organizations and individuals to invest in emission reduction projects in sectors like renewable energy, forestry, or waste management to compensate for emissions from activities that cannot be directly addressed, like air travel.

The global carbon offset market is estimated to be valued at US$ 414.8 Bn  in 2024  and is expected to exhibit a CAGR of 8.6%  over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
Increased adoption of net-zero targets by governments and organizations has accelerated the demand for carbon offsets as a means to achieve carbon neutrality. Over 75 nations and 125 cities have pledged to reach net-zero carbon emissions by 2050. Thousands of companies have also committed to net-zero targets, which is a key driver boosting the carbon offset market growth. By retiring carbon offsets, these entities can claim carbon neutrality while transitioning their operations, supply chains and investments away from fossil fuels and towards renewable energy sources over time.


Segment Analysis
The global carbon offset market is dominated by forestry projects, which accounted for 45% of carbon offsets issued globally in 2021. Forestry offset projects involve the planting and conservation of forests, which absorb carbon dioxide from the atmosphere as trees grow. This sub-segment has stayed dominant due to the large potential for carbon sequestration offered by forestry and land use projects.

Key Takeaways
The global  Carbon Offset Market Demand is expected to witness high growth over the forecast period 2023 to 2030. The global carbon offset market is estimated to be valued at US$ 414.8 Bn  in 2024  and is expected to exhibit a CAGR of 8.6%  over the forecast period 2023 to 2030.


The Asia Pacific region is expected to grow at the fastest pace in the carbon offset market during the forecast period. Countries such as China, India, and South Korea are ramping up clean energy investments and implementing climate policies such as carbon pricing which is likely to drive the demand for cost-effective offsets. North America currently dominates the carbon offset market and will continue to hold a significant share due to the presence of early adopters such as Microsoft aiming to meet carbon neutral goals.

Key players operating in the carbon offset market are Apta, Carbon Future, 3Degrees, Carbonfund, and South Pole. Apta aims to develop the most advanced carbon removal pipeline and recently completed the construction of a direct air capture plant. Carbon Future focuses on high-quality projects in the forestry, energy efficiency, and renewable energy segments. 3Degrees facilitates businesses in achieving their sustainability goals through portfolio optimization and transaction structuring. Carbonfund's portfolio includes forestry,cookstove, wind, and solar projects across multiple regions. South Pole is a leading provider of carbon offset solutions and project development services.

Explore more related article on this topic: https://www.pressreleasebulletin.com/carbon-offset-trading-fuels-the-transition-to-a-low-carbon/

 

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