carbon credit |
2021 was also a record year for the voluntary compensation market, with an unprecedented number of projects registered and more than $2 billion worth of credits purchased by companies. In 2022, significantly fewer new projects have been registered due to the recessionary sentiment and rising interest rate environment, which could lead to a tighter supply side and higher prices in the future. Thus, carbon credit trading is expected to become an important segment of the economy. The Taskforce on Scaling Voluntary Carbon Markets (TSVCM), with the technical support of McKinsey, estimates that demand for carbon credits could increase at least 15-fold by 2030 and up to 100-fold by 2050. Overall, the carbon credit market could reach $50 billion by 2030. The demand for the carbon credits we generate is huge and is likely to remain so for many years to come. Therefore, this pillar will also be a secure source of income for WPF Ecosystema. |
