Abatable, a carbon intelligence and procurement platform, has recently released a report highlighting the critical state of the world’s voluntary carbon market (VCM). The report, titled ‘Abatable Voluntary Carbon Market Developer Overview | 2023-2024’, emphasizes that the VCM is currently undergoing a pivotal transition, paving the way for a new era of investment and project growth.

In 2023, the VCM experienced significant shifts, with a surge in investment and projects, as well as a decline in credits issued by the leading developers. The report underscores the dominance of REDD+ projects in the nature-based sector of the VCM, despite the challenges they continue to face.

Moreover, 2023 witnessed unprecedented activity in the demand side of the market, with a notable increase in the number of new buyers purchasing and retiring credits. Additionally, the release of the Core Carbon Principles (CCPs) marked a significant milestone, setting new quality standards for the market.

Abatable’s report sheds light on the evolving landscape of the voluntary carbon market, indicating a promising outlook for the future. As the market continues to adapt to new dynamics and standards, it is poised for further growth and development in the coming years.