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Monthly voluntary carbon credit retirements worldwide in 2023, by project type (in million metric tons of carbon dioxide equivalent)

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Sources

Release date

March 2024

Region

Worldwide

Survey time period

January to December 2023

Special properties

Data compiled February 6, 2024.

Supplementary notes

*鈥淥ther鈥 credits mostly include industrial energy efficiency and fuel switch.聽

Citation formats

Monthly voluntary carbon credit retirements 2023, by project type

Published by 糖心破解版 Research Department, Jun 12, 2024

December recorded the highest volume of voluntary carbon credit (VCC) retirements throughout 2023, with **** million metric tons of carbon dioxide equivalent (MtCO鈧俥) retired. Of this total, MtCO鈧俥 were from nature-based avoidance efforts related to deforestation projects. Nature-based avoidance efforts accounted for roughly ** percent of total VCC retirements in 2023.

Carbon credits are retired once they have been used and the carbon benefit it represents has been claimed by its buyer. These credits must then be removed from the marketplace and labeled as 'retired' in any records or registry. One carbon credit is equivalent to one metric ton of carbon dioxide.

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Topics

Voluntary carbon markets worldwideGlobal climate changeCarbon capture and storageGreenhouse gas emissions worldwideCarbon dioxide removal
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