Shell Expects Rapid Growth in Carbon Credit Markets by 2030
- Voluntary market is seen expanding fivefold from $2 billion
- Demand for some credits may outstrip supply before 2024
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The value of the voluntary carbon market that allows polluters to buy credits to offset emissions is set to grow fivefold by 2030, after expanding at a record pace over the past two years, according to Shell Plc.
The global voluntary market is expected to increase from an estimated value of $2 billion in 2021, Shell said in a statement, citing a joint report released with Boston Consulting Group. The compliance market surged to about $850 billion in 2021, more than double the value in the previous year, the report said.