The $1 Trillion VCM Market
January 28, 2023 The $1 Trillion VCM Market A report says that the value of the carbon credits market can be worth $1 trillion in 2037. The UK government considers a climate bailout of a steelmaker worth $372 million. A global PC maker pledges to hit net zero emissions by 2050 while an e-commerce giant gets a go signal to trade renewable energy in India. Let’s dive in! The Trillion Dollar Question A lot of projections were made about how much the carbon credit market will be worth in the future. Some say it can be $50 billion or more, but under BloombergNEF estimates, the market’s annual value could hit a Trillion Dollars - as early as 2037. The research analyst based its projection on a removal-only scenario. It means carbon credits from projects that actually remove CO2 from the air only count; avoided deforestation and clean energy projects are out of the equation. Rescuing a Giant Once a giant steel manufacturer in the UK, British Steel has seen its worst day...