We consider the outlook for the global biochar market, highlighting the increased demand for biochar carbon credits. What are biochar’s potential benefits and challenges in carbon removal, economic implications and role in global markets? 

Recent climate talks fell short of agreement on the international trading of carbon reductions that are seen as key to funding the global energy transition. We explain what has hampered progress and why voluntary carbon markets are leading the way. 

A newly launched methodology by Verra addresses many of the concerns regarding carbon credits from avoided deforestation projects (REDD+), and includes the introduction of jurisdictional baselines and a deforestation risk tool.

We analyze the impact of allowing firms to use carbon credits to help meet their science-based emissions targets, modeling how many carbon credits would be needed to close the gap to meet corporate emissions targets today and in 2030, and how many additional firms might sign up to science-based targets if such use of carbon credits were permitted.

The upcoming climate negotiations at COP28 could be a turning point for the affluent Gulf states. While these countries built their wealth from fossil fuels, they now face pressure to use that wealth to combat climate change. 

If eligibility for the Core Carbon Principles becomes a new benchmark for ‘acceptable’ quality, understanding the proportion of total credits today that are likely to gain CCP status is vital for projecting how the market might evolve. 

Although USD 18 billion was raised for carbon credit projects in the last two and a half years alone, the current rate of investment is only one-third of the level needed to deliver the volume of credits required by 2030 under the agreed upon 1.5°C goal.

Trove's new VCM Country Opportunity and Risk Index allows stakeholders to evaluate country-level risks for developing and investing in voluntary carbon projects, based on climate policies, regulations and political risk.

Host governments for carbon-credit projects are trying to ensure as much revenue as possible stays in the country and benefits the local communities. But the way they are going about it risks having the opposite effect.

To date, the voluntary carbon market (VCM) has lacked a common benchmark for carbon credit quality. The Integrity Council for the Voluntary Carbon Market’s Core Carbon Principles (CCPs) are a step toward building greater confidence in the market. 

The rapid growth in interest in bioenergy with carbon capture and storage (BECCS) has been evidenced by a flurry of recent commercial deals, but BECCS face challenges with scalability and cost effectiveness.

The Voluntary Carbon Market Integrity Initiative’s Claims Code of Practice clarifies some aspects of how corporations can make high-integrity claims regarding their voluntary use of carbon credits, but more-controversial issues remain. 

This report assesses the costs and benefits of reduction and removal projects, using detailed carbon-project cost models developed by Trove Research. Our analysis suggests that there are significant cost and scale advantages to reduction projects, although removal projects also have an important role to play.

Our analysis of the emissions performance of over 4,000 global companies and the link with the use of carbon credits found that companies that use material quantities of carbon credits are, on average, decarbonizing at twice the rate of companies that do not use them at all. 

Despite negative news about voluntary corporate climate action, evidence suggests the health of the voluntary carbon market is relatively robust. There has been an uptick in corporations setting net-zero targets and the market for carbon credits is holding steady, despite the tough economic climate and media criticism. 

A planned relaunch of China’s emissions-reduction credit system could revive the country’s carbon market. We detail what’s known and what’s still to be decided about the system, and the likely implications for the market.  

New insurance products aim to reduce the risk of investments in, or purchases of, carbon credits. We examine the risks that the new offerings try to mitigate and identify what’s not covered. 

Trove Research introduces a new project classification to provide a comprehensive and more-granular picture of the entire voluntary carbon market and reviews the current market structure across all registered projects. 

The REDD.plus initiative has raised concerns due to its potential to flood the voluntary carbon market with carbon credits. The lack of methodological rigor, independent verification and permanence safeguards represent additional red flags.

EasyJet Plc’s decision to stop buying carbon credits has raised concerns about airlines’ participation in the voluntary carbon market. We examine whether the worry is warranted.  

We estimate the capacity of tropical forest countries to meet forecasted corporate demand for forest-based credits under three scenarios over 2021-2030 and 2021-2050. We also assess the willingness and readiness of these countries to implement corresponding adjustments.

The Voluntary Carbon Market Integrity Initiative has introduced its Provisional Claims Code of Practice, guiding companies on using carbon credits credibly. We report the details of this milestone on the path to a high-integrity carbon market. 

In 1Q 2022, there was a significant drop in the number of shipments claiming carbon-neutral status. The Ukraine war and an increase in carbon-credit prices in 2H 2021 may have deterred some fuel suppliers from using carbon offsets.

Voluntary-carbon-credit prices have experienced a significant correction since Russia invaded Ukraine, with the most liquidly traded exchange-based contracts falling by 20-30%, although Trove Research’s weighted OTC/Exchange indexes have shown more resilience. 

Trove Research’s quarterly update on the voluntary carbon market (VCM), covering summary charts for 2021 and our forecasts for 2022.

This report summarizes the key elements of the climate negotiations at COP26 in Glasgow and assesses the implications for corporate climate commitments and the use of carbon credits. 

We examine the Taskforce on Scaling Voluntary Carbon Markets’ estimates for the future size of the voluntary carbon market, comparing them to our own, much smaller, forecast of a market size of USD 10-40 billion in 2030. 

Our analysis of the long-term demand, supply and prices of carbon credits in the voluntary carbon market finds that considerably higher prices are needed to incentivize a large-scale change in land use away from agriculture towards preserving and restoring forests and to invest in capturing and storing CO2 in the atmosphere. 

We look at the likely future demand for carbon credits to 2050 and how thousands of companies seeking to offset their emissions risk being undermined by a surplus of older credits still in the system. We also discuss mechanisms for how this issue could be managed going forward. 

This discussion paper sets out a potential framework for assessing the contentious issues on the use of Corresponding Adjustments for voluntary carbon-credit transfers and suggests a potential solution space.