A Comprehensive Study Exploring Carbon Credit Market | Key Players Profiles: ClearSky Climate Solutions, WGL Holdings, Inc., Green Mountain Energy

A carbon credit is a permit or certificate that allows the holder to emit one ton of carbon dioxide or an equivalent of another greenhouse gas. It serves as an offset for producers of such gases, with the primary goal of reducing emissions from industrial activities and mitigating the effects of global warming. Carbon credits help minimize greenhouse gas emissions, with governments or regulatory authorities setting caps on these emissions. For some companies, immediate reduction of emissions is not economically feasible, and they can purchase carbon credits to comply with the emission cap. Carbon credits can be exchanged in the over-the-counter or voluntary market for Voluntary Emissions Reductions (VER), or created through a regulatory framework for Certified Emissions Reductions (CER), which are regulated by a third-party certifying body.

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Major players operating in the global carbon credit market include WGL Holdings, Inc., Enking International, Green Mountain Energy, Native Energy, Cool Effect, Inc., ClearSky Climate Solutions, Sustainable Travel International, 3 Degrees, terrapass, and Sterling Planet, Inc.

International adoption of carbon credits is a significant trend in the global carbon credit market, with the Kyoto mechanism being widely adopted by various countries and state government bodies. The European Union, for example, launched the European Union Emission Trading Scheme (EU ETS) in 2015, which employs a basic cap-and-trade model for EU companies and countries. Despite the government of the U.S. not signing the Kyoto Protocol, many companies and state government bodies are adopting voluntary commitments to reduce carbon emissions. California's Cap-and-Trade Program is an initiative taken by the state of California, which started its own cap-and-trade program in 2013. The rule applies to electric power plants, industrial plants, and fuel distributors. In conclusion, the adoption of carbon credits by local government bodies and companies is a major trend in the global carbon credit market.

global carbon credit market was valued at US$ 211.5 Bn in 2019 and is expected to reach US$ 2,407.8 Bn by 2027 at a CAGR of 30.7% between 2020 and 2027

Detailed Segmentation

Global Carbon Credit Market, By Sector:

◘ Energy
◘ Transportation
◘ Residential and Commercial Buildings
◘ Industry
◘ Agriculture
◘ Forestry
◘ Water and Wastewater

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