The global carbon offset/carbon credit market is estimated to grow from USD 414.8 billion in 2023 to USD 1,602.7 billion by 2028, at a CAGR of 31.0% during the forecast period. Factors such as rising awareness for reducing carbon emissions and the urge of companies to reach their net zero targets is expected to fuel the market for carbon offsets.
The carbon offset/carbon credit market is served by local players with a strong domestic supply network. South Pole Group (Switzerland), 3Degrees (US), Finite Carbon (US), EKI Energy Services Ltd. (India), and NativeEnergy (US) are the market leaders in the global carbon offset market. Companies operating in this market also focus on product launches, agreements, and contracts to increase their market shares and expand their geographic presence.
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EKI Energy Services Ltd. (EKI) is a leading carbon credit developer & supplier across the world. It is 14+ years old and is a global market leader with deep expertise in the realm of climate change, carbon offset solutions, and carbon asset management. The company is currently present in 16+ countries and has 3000+ clients across 40+ countries worldwide. As of date, EKI has supplied over 180+ million offsets. The company has been passionately working toward rehabilitating the planet to a future of net-zero carbon emissions. It offers sustainable solutions for climate change and carbon offsets with global standards such as CDM, VCS, Gold Standard, GCC, IREC, TIGR, and others. The company also specializes in driving community-based projects such as green cooking for efficient cook stoves in rural homes and other nature-inspired solutions.
South Pole Group operates as a carbon finance consultancy. It covers project and technology finance, data analysis, and advisory on sustainability risks and opportunities, as well as the development of carbon and renewable energy credits. The company helps public and private sector organizations develop climate-proven policies and strategies. The company’s areas of expertise cover every key sustainability-related area of climate change, including but not limited to forests & land use, water quality and conservation, sustainable cities & buildings, as well as renewable energy and energy efficiency. South Pole has worked with over 1,000 clients and is expected to soon develop 800 offset projects across 30 offices globally. South Pole Group operates in North America, Europe, Asia Pacific, and South Africa.
3Degrees is a provider of comprehensive clean energy services intended to take urgent action on climate change. The company's services include PPAs (power purchase agreements), RECs (renewable energy certificates), and community solar and carbon offsets for organizations to meet their greenhouse gas emission reduction goals and help them incorporate clean energy into their business operations, enabling organizations and individuals to transition toward a low-carbon economy. 3Degrees has expertise in sustainability consulting, environmental markets, renewable energy and carbon project development, transportation decarbonization solutions, and utility renewable energy programs.
Carbon Offset/Carbon Credit Market by Type (Voluntary Market, Compliance Market), Project Type (Avoidance/Reduction Projects, Removal/Sequestration Projects (Nature-based, Technology-based)), End-User and Region - Global Forecast to 2028
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