The rise of voluntary carbon markets
26 Jan 2022
THE voluntary carbon markets (VCMs) are poised for explosive growth in 2022. At the conclusion of COP26 in Glasgow, 632 of the world's largest 2000 public companies by revenue had announced plans to achieve Net Zero greenhouse gas (GHG) emissions.
Although not all of these companies will use carbon credits to help achieve their decarbonization goals, many will. Over 40% of these firms plan to use offsetting as a strategy to achieve their Net Zero commitments, with few companies ruling out this possibility. According to the World Bank, this growth "in voluntary corporate commitments is the main driving force behind increased carbon credit demand".
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