The carbon offsets market more than tripled in size in 2021 to $US 1 billion, and forestry-based credits have roughly quadrupled in price, from $4 to almost $15 per tonne, a record-setting gain compared to most commodity prices. World-leading experts in sustainability and carbon credit markets will brief media online on the enormous potential and risks of current activities and where they see these markets going in the year ahead on Thursday, 10 February, 11 a.m. US EST / 4 pm GMT.
With almost two-thirds of global GDP now subject to net-zero commitments, but with a clear path to complete emissions cutting yet to emerge, demand for carbon offsets has been soaring.
In 2021, the market of carbon offsets more than tripled in size, hitting $US 1 billion. Prices of forestry-based credits have jumped from $4 to almost $15 per tonne, a record-setting gain compared to most commodity prices.
This is the backdrop against which green project developers, banks, businesses and governments find themselves today — and most believe this is just the beginning.