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Global carbon credits trading platforms market research reports
The Global carbon credits trading platforms market size is valued at 110.2 million in 2022 and is predicted to reach 812.7 million by the year 2031 at a 25,05% CAGR during the forecast period for 2023-2031
The global market for carbon credit trading platforms makes buying an selling carbon credits possible, providing businesses and organizations with a platform to reduce greenhouse gas emissions. Its main goal is to combat climate change and reduce greenhouse gas emissions. By allowing the trading of carbon credits, these platforms encourage investment in emission reduction projects and support international sustainability initiatives.
The need for enterprises to reduce their carbon footprints, more vital environmental rules, and growing awareness of climate change have all contributed to the market for carbon credit trading platform experiencing significant development in recent years. However prospective emissions reductions targets and the overall demand for carbon credits could impact the market´s stability.
Moreover, participants in the market may experience difficulties as the market expands due to the need for more regularity and uniformity in the methods used to trade carbon credits.
Producers must reduce and reverse their carbon emissions by putting money into renewable energy, finding new markets for CO2, implementing carbon capture technologies, and deploying carbon offsets and credits. Additionally, the increase in the exchange and selling of these carbon credits will drive the market for trading platform for carbon credits
Key Developments
-In Sept 2022, AirCarbon Pte ltd, a Singapore-based corporations facilitating carbon credit trading, is considering developing a presence in India. AirCarbon demands a presence in India because it anticipates India to participate significantly in the global carbon market. Carbon markets involve purchasing and selling carbon credits (or carbon offsets). Carbon credits are awarded to businesses (or even individuals) for actions that reduce carbon dioxide emissions or absorb carbon dioxide from the atmosphere.
-In June 2022, Zerocap has partnered with ANZ Bank and carbon credits platform Beta Carbon to enable the successful trading of tokenized Australian carbon credits (BCAU) using the ANZ Bank-issued A$DC stable coin on its platform. Innovative transaction executed for Zerocap client Victor Smorgon Group to promote frictionless and secure digital transacting for carbon abatement instruments and climate control assets.
Market Segmentation
The carbon credits platform market is segmented based on products, system type and end users. Based on type, the carbon credit trading platform market is segmented as voluntary carbon market and regulated carbon. The carbon credit trading platform market is segmented by system type into cap, trade, baseline, and credit systems. End users segment the market into industrial, utilities, energy, petrochemical, aviation, etc.
Based on System type, the cap & trade category is accounted as a tremendous contributor to the carbon credit trading platform market
The cap & trade category will hold a major share of the global Carbon Credits Trading Platformmarket in 2022. The cap and trade system regulates carbon emissions and limits overall emissions while allowing for flexible usage by different types of enterprises. Additionally, it generates a strong financial incentive for spending money on cleaner, more effective technologies that propel the market. The word "trade" provides businesses flexibility. This sector's expansion is also attributable ti rising investments in clean energy projects and decarbonization ambitions.
The Utility Segment Witnessed Growth at a rapid rate
The utility segment is projected to grow rapidly in the global market. The utilities are committed to decarbonization programs to combat climate change, fueling demand for carbon credit trading systems. Utility companies must reduce carbon footprints and slow climate change because they are major greenhouse gas emitters. Utility companies can use carbon credits trading systems to purchase carbon credits from other companies that have lowered their emissions to offset their emissions.
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