The global carbon credit market in 2024 remained stagnant, valued at around US$1.4 billion, per MSCI report. Demand for carbon credits—measured by the number of credits “retired” or permanently used—did not grow significantly. Carbon prices, meanwhile, continued to fall.
However, the market is showing signs of potential growth. With more companies committing to ambitious climate goals and new policies emerging, experts believe the market could expand significantly.
- By 2030, the market is projected to reach between $7 billion and $35 billion, and by 2050, it could climb to $250 billion.
Carbon Credits in 2024: Key Numbers
Carbon credits allow businesses and governments to offset their greenhouse gas emissions. Each credit represents one ton of carbon dioxide either reduced or removed from the atmosphere. These credits come from a variety of projects, including:
- Nature-Based Solutions: Reforestation, forest conservation, and soil carbon storage.
- Renewable Energy: Projects like wind and solar farms that replace fossil fuel-based energy.
- Carbon Capture Technologies: Direct air capture or storing carbon in the soil through biochar.
When companies buy and retire these credits, they use them to meet their climate targets, like achieving net-zero emissions.
By the end of 2024, the carbon credit market had grown in some areas, even if overall demand remained flat. The MSCI report shows the following achievements last year:
- Projects: Over 6,200 carbon credit projects were registered worldwide.
- Issuance: These projects issued 305 million tons of credits (MtCO2e) in 2024 alone, bringing the total to over 2.1 billion credits since the 2016 Paris Agreement.
- Retirements: Only 180 million credits were retired in 2024, roughly the same as in 2023.
Of the credits retired in 2024:
- 91% came from projects that reduce emissions (e.g., renewable energy or forest protection).
- 9% came from projects that remove carbon from the atmosphere, such as reforestation.

Falling Prices
Despite the growing number of carbon credits issued, their prices have dropped. In 2024, the average price of a carbon credit fell to just $4.8 per ton, a 20% decline compared to 2023.
Prices vary depending on the type of credit:
- Nature-Based Projects: These often fetch higher prices because they are seen as more reliable and long-lasting.
- Technology-Based Projects: Carbon capture and other engineered solutions command even higher premiums due to their permanence and innovation.
Why the Market Is Stuck But Shows Signs of Growth
Even with more companies announcing climate goals, the carbon credit market has struggled. Several factors have contributed to this stagnation.
One is the concern about quality. Questions about the reliability and impact of some projects have undermined trust. Another is the lack of urgency as many companies have climate targets set far into the future, reducing the immediate need to buy credits.
Lastly, negative publicity also impacted carbon credit markets heavily. Reports of fraud and overestimated project impacts have hurt the market’s credibility. As a result, demand (retired credits in the chart) has remained steady but unimpressive, and prices continue to drop.

Despite these challenges, there are promising signs that the carbon credit market could soon expand.
In 2024, more climate commitments were reported. Over 2,700 companies set science-based climate targets, a 65% increase from 2023. As deadlines approach, many companies will need to rely on carbon credits to meet their goals.
Additionally, policy improvements and new standards like the Core Carbon Principles (CCPs) aim to improve the quality and integrity of carbon projects. These alleviated trust in the market.
These factors could boost demand for high-quality credits and push the market out of its current stagnation. So, what does this year look like for carbon credits?
2025: A Year of Transition
The year 2025 and beyond hold immense potential for growth and impact. It marks a pivotal moment for the carbon market as it transitions toward greater maturity and alignment with global climate goals.
Demand for carbon credits could rise steadily, driven by companies ramping up efforts to meet their 2030 emissions reduction targets. As more organizations integrate carbon offsets into their climate strategies, the emphasis will shift toward high-quality carbon removal credits (CDR), which are increasingly considered essential for achieving net-zero emissions.
According to the Deloitte report, robust CDR credit sales and high prices highlight market confidence in carbon dioxide removal methods for achieving tangible removals. Elevated pricing offers a potential revenue stream. This enables emerging renewable energy providers to collaborate with CDR projects and secure a share of the generated credits.

This growing demand is likely to push prices higher, especially for credits that meet stringent integrity and additionality standards.
The aviation sector is anticipated to emerge as a significant player in the carbon market. The Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) will enter its first mandatory phase in 2027, but airlines could begin preparing earlier by purchasing credits to offset their emissions. This development will further bolster demand and drive innovation within the voluntary carbon market.
Policy advancements will also play a crucial role in shaping the market in 2025. The continued implementation of Article 6 of the Paris Agreement, alongside national regulations like the EU’s Green Claims Directive and the U.S. transparency laws, will provide clearer guidelines for credit use and enhance market credibility.
However, challenges persist, including addressing fragmented market standards and ensuring robust monitoring and verification systems.
As the carbon market evolves, 2025 will serve as a year of progress and adjustment. This year will lay the groundwork for a more transparent, efficient, and impactful mechanism to combat climate change.
Beyond 2025: Projections for 2030 and 2050

By 2030, the carbon credit market could grow significantly, reaching between $7 billion and $35 billion, according to the MSCI analysis shown above. Several trends are driving this potential growth:
- Rising Demand for Carbon Removal Credits: These tend to be more expensive but are considered more credible.
- Corporate Climate Goals: Companies with ambitious targets for 2030 will likely rely more on carbon credits to bridge the gap between their emissions and goals.
- Higher-Quality Credits: Buyers are increasingly choosing credits from projects with higher standards and transparency, which boosts trust in the market.
MSCI’s long-term outlook for carbon credits is even more optimistic. By 2050, the market could be worth between $45 billion and $250 billion, driven by:
- Urgent Corporate Demand: Many companies will be nearing their net-zero deadlines by 2050, increasing the need for offsets.
- Shift to Removal Credits: Around two-thirds of the market value by 2050 could come from credits that actively remove carbon.
- Engineered Solutions: Technologies like direct air capture could become key players, with their market value potentially reaching $42 billion.
A Market Worth Watching
The carbon credit market may be stuck for now, but the outlook is promising. With stricter standards, growing corporate commitments, and innovative solutions, the market is poised for growth. As 2030 approaches, the demand for high-quality credits is likely to rise, thawing the frozen market and creating new opportunities for businesses and investors alike.
- READ MORE: Is the Voluntary Carbon Market Dead?
The post Carbon Credits in 2024: What to Expect in 2025 and Beyond ($250B by 2050) appeared first on Carbon Credits.
Carbon Footprint
Radisson Hotel Group Ramps Up Net Zero Push by 2030: How Does it Compare with Marriott and Accor?
Radisson Hotel Group has raised its climate ambition in the hospitality sector. The group now targets 100 verified net-zero hotels by 2030 across its global portfolio. This move builds on its existing science-based net zero commitment by 2050, approved under the Science Based Targets initiative (SBTi).
Radisson defines verified net-zero hotels as properties that cut operational emissions completely. This is done through energy transition and efficiency upgrades. while using limited offsets only for any remaining emissions.
The company has already launched early examples of this model in Manchester (UK) and Oslo (Norway). These hotels were upgraded through full operational redesigns instead of new construction. The goal is to scale this approach across multiple regions and hotel types.
Radisson Hotel Group CEO Federico J. González Tejera remarked during the release:
“At Radisson Hotel Group, sustainability ultimately starts with people. It is about delivering for our guests, creating value for our owners, and supporting the communities where we operate. Verified Net Zero Hotels are an important step in our net zero transformation, setting a new standard for how hospitality can reduce its environmental impact while continuing to support people, destinations, and economic activity.”
How Net Zero Hotels Work in Practice
Radisson’s net zero model follows a structured decarbonization system developed with industry partners. It is designed to measure, reduce, and gradually eliminate emissions across hotel operations.
The process involves several steps:
- measuring carbon fully,
- switching to renewable electricity,
- electrifying heating and cooking, and
- upgrading efficiency in water, waste, and energy use.
Over time, the goal is to reduce reliance on carbon offsets and focus on real emissions cuts.
The Manchester and Oslo hotels show how this works in practice. Both properties switched to renewable electricity, removed fossil fuel systems, and added low-carbon changes. These include electrified kitchens and waste reduction programs.

Radisson says these pilot hotels cut emissions by about 60%. This shows that significant reductions are possible in existing buildings.
Big Targets, Real Progress: Radisson’s Carbon Cuts
Radisson has set measurable climate targets aligned with global climate frameworks. The company aims to reduce Scope 1 and Scope 2 emissions by 46% by 2030, compared with a 2019 baseline. It also targets a 28% reduction in Scope 3 emissions by 2030, which includes supply chain and outsourced activities.
The group has already made measurable progress. By 2023, Radisson achieved a 35% reduction in carbon footprint per square metre compared to 2019 levels. Over the past decade, it has also improved energy and water efficiency by around 30% across operations.
The company works in over 100 countries and manages more than 1,500 hotels. This makes its decarbonization effort one of the biggest in the global hospitality sector.
Industry Shift: Hotels Move Toward Low-Carbon Operations
The hotel industry is increasingly under pressure to reduce emissions. Hospitality is energy-intensive because of heating, cooling, laundry, food services, and continuous building operations.

Hospitality accounts for ~1% of global carbon emissions and ~7.8% of water use worldwide. The sector’s energy intensity averages 200-800 kBtu/sq ft annually, with heating/cooling consuming 50-60% of total energy.
Emissions breakdown by source:
- Building energy: 60-70% (HVAC, lighting, hot water)
- Food/beverage supply chains: 20-25%
- Waste management: 10-15%
Hotels are now focusing on electrification and using renewable energy. They are also upgrading efficiency to cut their carbon footprint and journey toward net positive hospitality.
Radisson is joining a trend toward verified net-zero hotels. These hotels need to cut emissions and get third-party checks. This approach reduces uncertainty in sustainability claims and improves transparency for investors and customers.
Independent verification systems are now widely used to confirm emissions reductions. They help make sure that net zero claims are credible and comparable across the industry.
The standard third-party verification:
- Green Key/SGS: Verify WTTC Hotel Sustainability Basics (12 criteria)
- TÜV Rheinland: Certifies Radisson’s net zero hotels
- Cornell Hotel Sustainability Index: Benchmarks 1,307 global markets
The Net Zero Race in Hospitality: Radisson vs Marriott vs Accor
Radisson Hotel Group, Marriott International, and Accor Hotels all follow long-term net-zero goals. However, their timelines and strategies differ.
-
Radisson Hotel Group
Radisson Hotel Group aims for net zero across Scope 1, 2, and 3 emissions by 2050. It has a near-term target to cut Scope 1 and 2 emissions by 46.2% by 2030 (2019 base year) and reduce Scope 3 emissions by 27.5%.
Radisson has also launched “Verified Net Zero” hotels powered by 100% renewable electricity and low-waste operations. It is adding energy-saving upgrades. This includes LED lighting, smart heating and cooling systems, and building retrofits throughout its portfolio. It also pushes waste reduction programs, including food waste tracking and recycling systems in many hotels.
-
Marriott International
Marriott International also targets net zero across its value chain by 2050, with science-based approval. It plans to reduce Scope 1 and 2 emissions by 46.2% and Scope 3 emissions by 27.5% by 2030 (2019 baseline). It is investing in large-scale renewable electricity procurement through long-term power purchase agreements.
Marriott is also improving building efficiency with smart energy management systems across thousands of properties. Marriott is also promoting low-carbon supply chains. They are working with suppliers to reduce packaging and use more sustainable materials.
-
Accor
Accor also targets net zero by 2050, with a strong focus on operational efficiency and procurement reform. It is upgrading hotels with energy-efficient systems and expanding renewable electricity use across its brands.
Accor is also reducing food-related emissions by increasing plant-based menu options and cutting food waste. However, it provides less detailed interim emission reduction percentages than Radisson and Marriott. It focuses more on operational efficiency and engaging suppliers to make progress.

Overall, all three groups are moving toward net zero, but Radisson and Marriott show more defined short-term emissions targets. In contrast, Accor focuses more on operational changes and supply chain improvements.
ESG and Sustainable Hospitality: Green Travel Is No Longer Optional
Sustainability is becoming a stronger factor in travel decisions. More guests now prefer hotels that show clear environmental performance and use verified sustainability systems.
Corporate travel buyers are also adding ESG requirements to hotel contracts. This includes emissions reporting, renewable energy use, and waste reduction commitments. As a result, sustainability is becoming a competitive factor in hotel selection.
The global hospitality sector is adopting structured plans for decarbonization. This includes energy efficiency upgrades and using renewable electricity. Digital tracking of emissions is also becoming more common, especially for large hotel groups.
Radisson’s net-zero hotels are part of this shift. Sustainability-focused hotels can boost guest engagement and enhance brand positioning. This is backed by industry case studies. These strategies help hotels stand out in competitive markets.
The Hard Truth About Scaling Net Zero Hotels
Scaling net-zero hotels globally is complex. One major challenge is the cost of retrofitting existing buildings. Many hotels require major upgrades to heating, cooling, and kitchen systems to reduce emissions.
Another challenge is uneven access to renewable electricity across regions. Some markets still rely heavily on fossil fuels. This limits emissions reductions, even when hotels switch to cleaner operations.
Supply chain emissions also remain difficult to control. These include food sourcing, construction materials, and outsourced services. Tracking and reducing Scope 3 emissions requires coordination across many suppliers.
Finally, implementation varies by country due to differences in regulation, infrastructure, and energy systems. This creates uneven progress across global hotel portfolios.
Can Net Zero Become the New Hotel Standard?
Radisson’s plan to reach 100 net-zero hotels by 2030 marks a significant step in hospitality decarbonization. If achieved, it would create one of the largest verified net-zero hotel networks globally.
The strategy also supports its long-term goal of achieving net zero emissions across its entire value chain by 2050, aligned with global climate targets.
Future progress relies on quicker electrification of hotel operations, broader access to renewable energy, better ESG reporting, and ongoing investment in low-carbon technologies.
If done right, net-zero hotels could be the norm in global hospitality within the decade. This would change how hotels run and compete in international travel.
- READ MORE: The Net Zero Game: Are Hotels and Restaurants Truly Committed to Reducing Carbon Emissions?
The post Radisson Hotel Group Ramps Up Net Zero Push by 2030: How Does it Compare with Marriott and Accor? appeared first on Carbon Credits.
Carbon Footprint
Philippines Taps Blue Carbon and Biodiversity Credits to Protect Coasts and Climate
The Philippines is stepping up efforts to protect its coastal ecosystems. The government recently advanced its National Blue Carbon Action Partnership (NBCAP) Roadmap. This plan aims to conserve and restore mangroves, seagrass beds, and tidal marshes. It also explores biodiversity credits — a new market linked to nature conservation.
Blue carbon refers to the carbon stored in coastal and marine ecosystems. These habitats can hold large amounts of carbon in plants and soil. Mangroves, for example, store carbon at much higher rates than many land forests. Protecting them reduces greenhouse gases in the atmosphere.
Biodiversity credits are a related concept. They reward actions that protect or restore species and ecosystems. They work alongside carbon credits but focus more on ecosystem health and species diversity. Markets for biodiversity credits are being discussed globally as a complement to carbon markets.
Why the Philippines Is Targeting Blue Carbon
The Philippines is rich in coastal ecosystems. It has more than 327,000 hectares of mangroves along its shores. These areas protect coastlines from storms, support fisheries, and store carbon.
Mangroves and seagrasses also support high levels of biodiversity. Many fish, birds, and marine species depend on these habitats. Restoring these ecosystems helps conserve species and supports local food systems.
The NBCAP Roadmap was handed over to the Department of Environment and Natural Resources (DENR) during the Philippine Mangrove Conference 2026. The roadmap is a strategy to protect blue carbon ecosystems while linking them to climate goals and local livelihoods.
DENR Undersecretary, Atty. Analiza Rebuelta-Teh, remarked during the turnover:
“This Roadmap reflects the Philippines’ strong commitment to advancing blue carbon accounting and delivering tangible impact for coastal communities.”
Edwina Garchitorena, country director of ZSL Philippines, which will oversee its implementation, also commented:
“The handover of the NBCAP Roadmap to the DENR represents a turning point in advancing blue carbon action and strengthening the Philippines’ leadership in coastal conservation in the region.”
The plan highlights four main pillars:
- Science, technology, and innovation.
- Policy and governance.
- Communication and community engagement.
- Finance and sustainable livelihoods.
These pillars aim to strengthen coastal resilience, support community well‑being, and align blue carbon action with national climate commitments.
What Blue Carbon Credits Could Mean for Markets
Globally, blue carbon markets are growing. These markets allow coastal restoration projects to sell carbon credits. Projects that preserve or restore mangroves, seagrass meadows, and tidal marshes can generate credits. Buyers pay for these credits to offset emissions.
According to Grand View Research, the global blue carbon market was valued at US$2.42 million in 2025. It is projected to reach US$14.79 million by 2033, growing at a compound annual growth rate (CAGR) of almost 25%.

The Asia Pacific region led the market in 2025, with 39% of global revenue, due to its extensive coastal ecosystems and government support. Within the market, mangroves accounted for 68% of revenue, reflecting their high carbon storage capacity.
Blue carbon credits belong to the voluntary carbon market. Companies purchase these credits to offset emissions they can’t eliminate right now. Buyers are often motivated by sustainability goals and environmental, social, and corporate governance (ESG) standards.
Experts at the UN Environment Programme say these blue habitats can capture carbon 4x faster than forests:

Why Biodiversity Credits Matter: Rewarding Species, Strengthening Ecosystems
Carbon credits aim to cut greenhouse gases. In contrast, biodiversity credits focus on saving species and habitats. These credits reward projects that improve ecosystem health and may be used alongside carbon markets to attract finance for nature.
Biodiversity credits are particularly relevant in the Philippines, one of 17 megadiverse countries. The nation is home to thousands of unique plant and animal species. Supporting biodiversity through market mechanisms can strengthen conservation efforts while also supporting local communities.
Globally, biodiversity credit markets are still developing. Organizations such as the Biodiversity Credit Alliance are creating standards to ensure transparency, equity, and measurable outcomes. They want to link private investment to good environmental outcomes. They also respect the rights of local communities and indigenous peoples.
These markets complement carbon markets. They can support conservation efforts. This boosts ecosystem resilience and protects species while also capturing carbon.
Together with blue carbon credits, they form part of a broader nature-based solution to climate change and biodiversity loss. A report by the Ecosystem Marketplace estimates the potential carbon abatement for every type of blue carbon solution by 2050.

Science, Policy, and Funding: The Roadblocks Ahead
Building blue carbon and biodiversity credit markets is not easy. There are several challenges ahead for the Philippines.
One key challenge is measurement and verification. To sell carbon or biodiversity credits, projects must prove they deliver real and measurable benefits. This requires science‑based methods and monitoring systems.
Another challenge is finance. Case studies reveal that creating a blue carbon action roadmap in the Philippines may need around US$1 million. This funding will help set up essential systems and support initial actions.
Policy frameworks are also needed. Laws and rules must support credit issuance, protect local rights, and ensure fair sharing of benefits. Coordination across government agencies, local communities, and investors will be important.
Stakeholder engagement is key. The NBCAP Roadmap and related forums involve scientists, policymakers, civil society, and private sector partners. This teamwork approach makes sure actions are based on science, inclusive, and fair in the long run.
Looking Ahead: Coastal Conservation as Climate Strategy
Blue carbon and biodiversity credits could provide multiple benefits for the Philippines. Protecting and restoring coastal habitats reduces greenhouse gases, conserves species, and supports local economies. Coastal ecosystems also provide natural defenses against storms and rising seas.
If blue carbon and biodiversity credit markets grow, they could fund coastal conservation at scale while supporting global climate targets. Biodiversity credits could further enhance ecosystem protection by linking nature’s intrinsic value to market mechanisms.
The market also involves climate finance and corporate buyers looking for quality credits. Additionally, international development partners focused on coastal resilience may join in.
For the Philippines, the next few years will be critical. Implementing the NBCAP roadmap, establishing credit systems, and strengthening governance could unlock new opportunities for climate action, sustainable development, and regional leadership in blue carbon finance.
The post Philippines Taps Blue Carbon and Biodiversity Credits to Protect Coasts and Climate appeared first on Carbon Credits.
Carbon Footprint
Global EV Sales Set to Hit 50% by 2030 Amid Oil Shock While CATL Leads Batteries
The global electric vehicle (EV) market is gaining speed again. A sharp rise in oil prices, triggered by the recent U.S.–Iran conflict in early 2026, has changed how consumers think about fuel and mobility. What looked like a slow market just months ago is now showing strong signs of recovery.
According to SNE Research’s latest report, this sudden shift in energy markets is pushing EV adoption faster than expected. Rising gasoline costs and uncertainty about future oil supply are driving buyers toward electric cars. As a result, the EV transition is no longer gradual—it is accelerating.
Oil Price Shock Changes Consumer Behavior
The conflict in the Middle East sent oil markets into turmoil. Gasoline prices jumped quickly, rising from around 1,600–1,700 KRW per liter to as high as 2,200 KRW. This sudden spike acted as a wake-up call for many drivers.
Consumers who once hesitated to switch to EVs are now rethinking their choices. High and unstable fuel prices have made traditional gasoline vehicles less attractive. At the same time, EVs now look more cost-effective and reliable over the long term.
SNE Research noted that even if oil prices stabilize later, the fear of future spikes will remain. This uncertainty is a key driver behind early EV adoption. People no longer want to depend on volatile fuel markets.
EV Growth Forecasts Get a Major Boost
SNE Research has revised its global EV outlook. The firm now expects faster adoption across the decade.
- EV market penetration is projected to reach 29% in 2026, up from an earlier estimate of 27%.
- By 2027, the share could jump to 35%, instead of the previously expected 30%.
- Most importantly, EVs are now expected to cross 50% of new car sales by 2030, earlier than prior forecasts.
The post Global EV Sales Set to Hit 50% by 2030 Amid Oil Shock While CATL Leads Batteries appeared first on Carbon Credits.
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