Forestry & Land Use, by Project Types acquired the largest market revenue share in the Global Carbon Credit market– 6Wresearch.
By Project Types, Forestry & Land Use is expected to register robust growth during the forecast period owing to the increase in forestry & land use projects in Asia and Africa region due to expansion of REDD+ based projects along with significant co-benefit of forestry. Whereas renewable energy would also continue to grow at a significant rate on account of the adoption of green energy in regions like India, China, Indonesia and others.
According to 6Wresearch, Global Carbon Credit market size is projected to grow at a CAGR of 36.6% during 2022-2028. Increasing consumer awareness on the carbon footprint and environmental impact of major corporations has led to widespread initiative across the corporate world to commit towards reducing emissions. Furthermore, increasing investment by corporates to achieve the net zero target by 2050 to meet the goal of Paris Agreement 2015 offers lucrative growth opportunities for Global Carbon Credit Market
According to Akash Sharma Assistant Manager, 6Wresearch,” With more countries and sectors adopting emission trading system and growing popularity of across border adjustment mechanism to curb emission levels, the global compliance carbon credit market is expected to show strong growth over coming years. Moreover, European Union (EU), California, New Zealand, and the Republic of Korea, among other markets, witnessed record ETS prices, while several carbon tax saw prices reach new highs. Surging prices are indicating a positive demand momentum towards reaching the Paris Agreement's temperature targets.”
According to Abhishek Mishra, Research Associate, 6Wresearch, “By region, Asia Pacific is expected to register robust growth, owing to the presence of high carbon emitting nations such as China and India that would witness significant increase in their share in global carbon credit market due to evolving government mandates and regulations to fulfill carbon commitment in accord with Paris Agreement. Furthermore, developing, and under-developing nations in Asia and Africa region accounts for more than two-third of the total carbon offset projects owing to their low investment cost along with significant socio-economic co-benefits.”
“Global Carbon Credit market (2022-28)” report provides an in-depth analysis with 25 figures and 12 tables, covered in 90 pages. The report comprehensively covers the market by types, sectors, and regions .Global Carbon Credit market report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas, market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
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