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Europe Compliance Carbon Credit Market Trends

Report ID: GMI8962
Published Date: Apr 2024
Report Format: PDF

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Europe Compliance Carbon Credit Market Trends

The market is experiencing a transformation owing to the rising need for effective climate action and sustainable development. Advancements in carbon trading platforms and technologies facilitate easier access to carbon credits, thereby driving market efficiency and transparency. Collaborative initiatives between governments, businesses, and environmental organizations foster innovation and investment in carbon reduction projects, further propelling market growth.

For instance, in February 2024, European Commission's proposal to certify carbon removals generated within Europe, aiming to encourage development of high-quality carbon removal projects and establish a robust market for carbon removal credits. By providing a certification system, it seeks to ensure integrity of compliance carbon market and support the region's climate goals playing an essential role in shaping the compliance carbon credit industry.

Authors: Ankit Gupta, Shashank Sisodia

Frequently Asked Questions (FAQ) :

The market size for compliance carbon credit in Europe reached USD 80.7 billion in 2023 and is set to witness 14.1% CAGR from 2024 to 2032, owing to need to reduce greenhouse gas emissions and combat climate change in the region.

The renewable energy segment is expected to register over 14% CAGR through 2032, due to its carbon sequestration potential, policy support, and technological advancements.

UK market is poised to cross USD 30 billion by 2032, attributed to strong climate policy, including commitment to achieve net-zero emissions by 2050 in the country.

ALLCOT, Atmosfair, BP p.l.c., Bluesource, CarbonClear, CDP, Climate Impact Partners, Climate Neutral Group, 3 Degrees, EcoAct, Ecosecurities, PwC, Shell, South Pole, The Carbon Trust, TotalEnergies, are some of the major compliance carbon credit companies in Europe.