These credits represent emissions-reducing activities that can be generated through climate-action projects, such as tree planting or generating renewable energy.
As the drive to combat global warming gathers pace, voluntary carbon markets (VCMs) could see over a five-fold increase by 2030, with transacting carbon volumes on track to equal the annual emissions of the global aviation industry before the pandemic.
With an increasing number of private companies setting ambitious net-zero targets, demand for carbon offsets is expected to increase as these companies purchase the credits to cancel out their emissions elsewhere.
