CO-CALYX-GLOBAL
An analysis of the state of quality in the voluntary carbon market gives early indications that the market is moving towards higher integrity. The report, by carbon credit ratings platform Calyx Global, integrates data on market trends with Calyx Global’s 500+ ratings to provide unique insights on how efforts to improve market integrity are faring.
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Source includes data from Calyx Global’s ratings of over 500 carbon projects. In addition, data was used from the UC Berkeley database (Barbara K. Haya, Aline Abayo, Ivy S. So., Micah Elias. (2024, May). Voluntary Registry Offsets Database v11, Berkeley Carbon Trading Project, University of California, Berkeley), which includes the four major registries – ACR, CAR, Gold Standard and VCS. (Graphic: Business Wire)
After widespread pressure and scrutiny from the media and academia, many market actors have moved to address issues with the quality of carbon credits. This report tracks the effectiveness of those efforts.
“We wanted to start tracking quality, recognizing that the voluntary carbon market is starting to mature,” said Calyx Global Co-founder Donna Lee. She added, “The quicker we improve carbon credit quality and restore confidence, the more effective companies can be at addressing climate change.”
Key findings from the report include:
- The issuance of lowest-grade credits has dropped nearly 50% as a proportion of total issued credits to date in 2024.
- Quality updates related to improving the rules and requirements for credit generation have not yet made their way onto the active market.
- While benefits “beyond carbon” are attractive to buyers, it is a search for higher GHG integrity that is driving trends in the market today.
To learn about these trends and more, download “The State of Quality in the Voluntary Carbon Market” report or register for the June 26, 2024 webinar.
About the company
Calyx Global is a carbon credit ratings platform that helps organizations find carbon credits with confidence. Rigorous ratings and analysis ensure that carbon buyers can do good for people and the planet. From nature-based solutions to emerging technologies, Calyx Global leads the market with over 500 rated projects (and counting). To learn more, visit www.calyxglobal.com.
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