![]() CATEGORYīest Project Developer, Energy Efficiencyīest Project Developer, Forestry and Land-Use The winners also involved names that are stalwarts of the voluntary carbon market, and have won numerous awards in these market rankings in previous years, such as South Pole, which this year was again voted Best Project Developer in numerous categories Verra, which won Best Registry Provider and Numerco which was named Best Broker.Īlso reflective of the market's growth was the number of completed responses from the market participants, which rose from some 1,500 last year to more than 2,000 this year. Environmental Finance hailed winners in new categories this year, including Best Monitoring/Impact Report (won by BioCarbon Partners) Best Carbon Exchange (ACX (AirCarbon Exchange)) and Best Innovation (The CBL Global Emissions The ongoing evolution of the market is reflected in the winners' table (see opposite). While the growing demand for offsets is a sign of the market's growing maturity, teething problems remain – such as clarifying market guidance and standardising credit issuance documents. The surge in demand was welcomed by experts as a signal of a transitional growth period for the voluntary carbon market.Yet some warn that carbon prices still aren't at the levels needed to meet the goals of the Paris agreement, and that prices should continue to rise to between $30-$100 per tonne of carbon, compared to current prices which are often around $3-6. With demand outweighing supply, Vaughan Lindsay, CEO at ClimateCare and Natural Capital Partners, winner of Best Project Developer in Public Health, said it had been a "fantastic year". The surge in demand was driven by corporates setting net-zero targets, amid mounting consumer awareness of climate change. But the general trend has been a sharp rise in recent months. While some prices have more than doubled over the past year, others have more than quadrupled, market observers said. ![]() This transformation in the level of demand inevitably impacted the pricing of offsets.The range of different types of credits on offer in the market can make pricing trends complicated to summarise. ![]() That was how the market was summed up by the winners of this year's Voluntary Carbon Market Rankings – Environmental Finance's annual poll of the market, in which market participants vote for the leading companies and initiatives that exhibit best practice and innovation. It has been a "watershed year" for the growth of the voluntary carbon market, according to market experts.ĭemand for carbon offsets has sky-rocketed, and what has historically been a buyer's market is now in control of the seller. Surging demand has transformed a buyer's market into a seller's market, reports Madeleine Jenkins ![]()
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