The Voluntary Carbon Market Continues to Grow Rapidly in Size and Reach

The annual value of voluntary carbon market (VCM) is projected to reach nearly $2 billion this year. With both VER prices and traded volume increasing markedly year-on-year, recent reports have showed that the voluntary carbon market (VCM) will likely reach $2 billion in the year 2022.

This follows the surpassing of the $1 billion mark in 2021, which in itself was a more than doubling in value from 2020, fuelled largely by the approval of rules for carbon trading involving countries under Article 6 of the Paris Agreement, granted at COP26 in November 2021, and the rapid growth of interest in and action towards carbon neutrality, Net Zero and internal ESG standards on behalf of corporate institutions, SMEs and individuals alike.

While the growth of the market is in itself a promising sign of widening commitment to mitigating the climate crisis, it necessitates the strengthening and homogenisation of regulations upon the voluntary market, and an increasing prioritisation of best collaboration towards best practice. Offset projects with the greatest carbon sequestration/removal benefits, as well as the best-monitored biodiversity, social and economic co-benefits, must be selected and sold by every carbon offset provider and reseller.

With the VCM playing an ever-expanding role in international efforts towards limiting global temperature increase to 1.5 degrees above pre-industrial levels, the development of new and stricter methodologies, and continued research into how the VCM can best contribute to climate mitigation, is more important than ever, and Net Zero Group is doing its part to aid in this cause.

Net Zero Group and iOffset ensures that careful due diligence processes are in place to strengthen our insurance that the offsets we provide are impactful and achieve stated emissions reductions above the baseline scenario.

You can find details of the projects we support on the 'projects' page of this website.