Roughly 123 million tonnes of carbon credits flowed through the voluntary markets last year, with a combined value of $705m. That compares with 65 million tonnes at $331m in 2007.
The average price for voluntary offset credits spiked 20% to $7.34 per emitted tonne of CO2 equivalent, according to a report co-published by New Carbon Finance and Ecosystem Marketplace.
“With cap-and-trade expanding globally, the voluntary markets are starting to play a crucial role in project development and capacity building as companies start to prepare for emission caps,” says Milo Sjardin, New Carbon Finance’s North American chief.
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