2024 could be a make-or-break year for voluntary carbon market
“If buyers can’t trust the quality of the credits they’re buying and risk greenwashing accusations, then the market will never reach its potential."
In the long term, stronger demand could bring carbon credit prices past the US$200/tonne threshold – but in 2024, the focus needs to be on restoring trust in the carbon market, according to a new report.
BloombergNEF’s latest Long-Term Carbon Offsets Outlook shows great promise for the future of the carbon market, with prices rising rapidly post-2030 to reach US$238 a tonne in 2050. In the firm’s ‘high-quality scenario’, the market would be valued at US$1.1 trillion annually by mid-century.
