“Maybe five years from now, the biggest volume is going to be coming from here,” Nicastro said in an interview in Singapore, referring to the Asia region. “We need to see how the dynamics evolve, but it’s very reasonable to think that.”
Demand for carbon offsets in Asia is likely to outpace much of the rest of the world in the coming years as the region’s major polluters aim to curb their environmental impact, according to StoneX Financial Inc.
Asia’s voluntary carbon markets are “behind right now” but will quickly expand as large and fast-growing economies chase ambitious climate goals, said Alfredo Nicastro, Miami-based senior vice president and head of carbon markets at StoneX, which trades credits. The region will likely account for as much as 30% of the US$1.5 billion ($2.04 billion) voluntary market in the coming years, up from an estimated 25% this year, he added.
