Carbon Offset/Carbon Credit Trading Service Global Market 2021-27

A carbon credit represents the ownership equivalent to one metric ton of carbon dioxide which can be traded. If any organization is regulated under a cap-and-trade system, it is likely to have an allowance of credits and it can use towards the cap. If an organization produces a fewer tons of carbon emissions then it is allocated to the organization for trading in which they can sell or hold the remaining carbon credits. A carbon offset represents the real reduction of carbon dioxide in the atmosphere, and it results in the generation of carbon credit.

According to a market report published by Bizwit Research & Consulting, LLP, the global Carbon Offset/Carbon Credit Trading Service market is valued at approximately USD 216.6 billion in 2020 and is anticipated to grow with a healthy growth rate of nearly 19.62% over the forecast period 2021-2027.

Growing focus on greenhouse gas emissions reduction, supportive government policies, as well as growing investment in carbon credits, are some of the factors that are expected to significantly contribute to the growth of the global market during the forecast period. In addition, the growing adoption of advanced technology and increasing carbon pricing provides lucrative growth opportunities to the market. However, the scarcity of high-quality carbon credits is expected to hamper the growth of the global carbon offset/carbon credit trading service market during the forecast years.

A growing focus on greenhouse gas emissions reduction contributes to the growth of the market. According to world economic forum, there is a need to limit global warming to 1.5o C in line with the Paris agreement and the need to cut down greenhouse gas emission levels in half by 2030 and reduce them to net zero by 2050. This will lead to further growth for the market of carbon credit trading. It also states that Companies can also meet their climate targets by purchasing credits for their current emissions. Reducing greenhouse gas emissions will also help in implementing an emission trading scheme which will improve the carbon credit trading market.

Global Carbon Offset/Carbon Credit Trading Service Market Size study, by Type(Solid, Hollow), By Application (Textile, Home Furnishing, Automotive, Filtration, Construction, Others), and Regional Forecasts 2021-2027

The total market revenue is calculated on the basis of revenue generated through Sales and carbon credit services such as the purchase of carbon credits, availability check of Carbon credits, issuance of certificates, and more. Major companies covered under the report include Carbon Credit Capital, Terrapass, Sterling Planet Inc, 3Degrees, NativeEnergy, Green Trees, South Pole Group, Aera Group, Enking International, and Carbon Clear.

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Bizwit Research & Consulting LLP