Burlingame, Aug. 02, 2023 (GLOBE NEWSWIRE) — Coherent Market Insights published a report, “ Climate And Carbon Finance Market, By Market Type (Voluntary Market, Compliance Market), By Project Type (Renewable Energy Projects, Energy Efficiency Projects, Forest Carbon Projects, Methane Capture and Utilization Projects, Waste Management Projects, Agriculture and Land Use Projects, Others), By Buyer Type (Corporates, Governments, Financial Institutions, Non-Governmental Organizations (NGOs), Individuals), By Carbon Market Mechanism (Cap and Trade (Emissions Trading System), Carbon Offsetting (Voluntary Carbon Credits), Carbon Pricing (Carbon Tax or Fee)), By Sector Focus (Energy and Utilities, Transportation, Manufacturing and Industrial Processes, Agriculture and Forestry, Buildings and Construction, Waste Management, Others), By Transaction Type (Spot Market, Forward Market, Futures Market), By Market Participants (Carbon Project Developers, Carbon Market Intermediaries (Brokers, Consultants), Carbon Credit Verifiers and Validators, Exchange Platforms), Size, Share, Outlook, and Opportunity Analysis, 2023 – 2030,” According to the report, the global climate and carbon finance market is estimated to be valued at US$ 355.44 billion in 2022 and is expected to exhibit a CAGR of 29.3% during the forecast period.
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Analysts’ Views on Global Climate and Carbon Finance Market
Climate finance refers to local, national, or international financing that seeks to support mitigation and adaptation actions that will address climate change. Carbon finance is the general term applied to financing the purchase of reductions in greenhouse gas emissions to offset emissions in OECD countries. Climate finance refers to the funds required for addressing the climate change whereas a carbon finance is the revenue realized by projects through sale of carbon credits earned. Climate finance aims to reduce emissions and increase sinks of greenhouse gases. Carbon finance also help reduce greenhouse gas emissions, mitigate climate change, and promote sustainable development. Climate and carbon finance is a subset of environmental (green) finance.
Key Trends and Analysis of the Global Climate and Carbon Finance Market:
Increasing adoption of carbon pricing is one of the key trends expected to propel the growth of the global climate and carbon finance market. For instance, carbon pricing (CO 2 pricing) is a method or an approach used to address climate change. Its overarching goal is to protect the environment, discourage the use of carbon dioxide-emitting fossil fuels, and address the causes of climate change to meet national or international climate agreements. Japan, the world’s 5th-biggest carbon emitter, raised its climate goal in April 2021, pledging to trim emissions by 46% from 2013 levels by 2030 instead of its previous target of 26%. If this is achieved, 2030 emissions will be 0.76 billion tons. The scheme is launched to curb emissions and achieve its goal of carbon neutrality by 2050.
Global Climate and Carbon Finance Market – Drivers
Increasing carbon emissions to augment the market growth
With the rapid growth in carbon emissions (also referred to as greenhouse gas or GHG emissions) across the globe, the use or adoption of climate and carbon finance is also increasing with a rapid pace. According to the International Energy Agency (IEA), global carbon dioxide (CO2) emissions from energy combustion and industrial processes grew 0.9% or 321 Mt in 2022 to a new all-time high of 36.8 Gt. Global energy-related carbon dioxide emissions rose by 6% in 2021 to 36.3 billion tons, their highest ever level, as the world economy rebounded strongly from the COVID-19 crisis and relied heavily on coal to power that growth.
Climate And Carbon Finance Market Report Coverage
| Report Coverage | Details | |||
| Base Year: | 2022 | Market Size in 2022: | US$ 355.44 Bn | |
| Historical Data for: | 2017 to 2021 | Forecast Period: | 2023 – 2030 | |
| Forecast Period 2023 to 2030 CAGR: | 29.3% | 2030 Value Projection: | US$ 2,776.82 Bn | |
| Geographies covered: |
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| Companies covered: | Climate Finance Partners (United States), Carbon Credit Capital (United States), ClimateCare (United Kingdom), South Pole Group (Switzerland), Climate Trust Capital (United States), Carbon Clear (United Kingdom), EcoAct (France), First Climate (Germany), ClimatePartner (Germany), Ecosphere+ (United Kingdom), Verra (United States), Gold Standard (Switzerland), Natural Capital Partners (United Kingdom), Climate Friendly (Australia), Forest Carbon (United Kingdom) | |||
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| Restraints & Challenges: |
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Government initiatives or support to propel market growth
Many governments around the world have adopted norms to curb emissions and achieve their goal of carbon neutrality. In June 2023, Government of India took a step towards reducing greenhouse gas emissions and promoting sustainability by launching the Carbon Credit Trading Scheme 2023. The Indian government has green-lighted the creation of a national carbon market that will be key to decarbonizing heavy industry and helping shape international carbon trading, getting the country on track to meet its net-zero greenhouse gas emissions goal by the promised date of 2070. This in turn is expected to augment the growth of the market.
Global Climate and Carbon Finance Market – Restrain
Uncertainty in regulations to hamper market growth
One of the key factors expected to hamper growth of the global climate and carbon finance market is the uncertainty in climate policies and regulations. For instance, uncertainty in climate policies and regulations can pose challenges for investors and market participants. Lack of harmonization across jurisdictions, shift in climate policies, and changes in government priorities can hamper the long-term planning and investment decision-making in the climate and carbon finance market. The volatility can affect the financial viability of carbon projects and introduce uncertainties for market participants, especially in developing countries with limited resources and capacity.
Global Climate and Carbon Finance Market – Opportunities
Increasing demand for carbon offsets and credits is expected to offer lucrative growth opportunities for players in the global climate and carbon finance market. For instance, carbon offset schemes allow companies and/or individuals to invest in environmental projects to balance out their carbon footprints. In November 2021, Government of India announced that India will reach its net zero carbon emission target by 2070 with the country’s climate action plan. India will reduce one billion tonne of the total projected carbon emission between now and 2030. By 2030, India will reduce its economy’s carbon intensity to less than 45% and India will achieve the target of net zero emissions by 2070. This in turn is expected to propel the market growth.
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Global Climate and Carbon Finance Market – Key Developments
In June 2023, the World Bank approved US$ 1.5 billion in financing to help India promote low-carbon energy by scaling up renewable energy, developing green hydrogen, & stimulating climate finance for low-carbon energy investments.
In November 2022, the United States announced the launch of the Net-Zero Government Initiative to achieve net-zero emissions by no later than 2050.
In August 2022, Intellecap announced the launch of a National Carbon Finance Platform that will help Indian smallholder farmers leverage climate/ carbon finance for sustainable agro-forestry, climate smart agriculture and other activities that can result in carbon sequestration and mitigation.
Key Market Takeaways:
Global climate and carbon finance market is expected to exhibit a CAGR of XXX% over the forecast period. The global climate and carbon finance market is growing rapidly in response to the increasing focus on nature-based solutions and high demand for climate risk assessment and management services around the world.
On the basis of Market Type: Voluntary Market Segment is expected to dominate the market during the forecast period and this is attributed to the increasing demand or adoption of climate and carbon financing across the globe.
On the basis of Project Type: Renewable Energy Projects Segment is expected to dominate the market during the forecast period and this is attributed to the increase in use of renewable sources to curb/reduce greenhouse gas emissions.
On the basis of Buyer Type: Governments Segment is expected to dominate the market during the forecast period and this is attributed to the rapid growth of the favorable government initiatives or support to reach net zero carbon emission targets.
On the basis of Carbon Market Mechanism: Carbon Pricing (Carbon Tax or Fee) Segment is expected to dominate the market during the forecast period and this is attributed to the rising adoption of carbon pricing to curb/reduce greenhouse gas emissions.
On the basis of Sector Focus: Energy and Utilities Segment is expected to dominate the market over the forecast period and this is attributed to the increase in use of renewable sources to curb/reduce greenhouse gas emissions.
On the basis of Transaction Type: Spot Market Segment is expected to dominate the market during the forecast period and this is attributed to the increasing demand for carbon offsets and credits across the world.
On the basis of Market Participants: Carbon Project Developers Segment is expected to dominate the market over the forecast period and this is attributed to the rapid growth in carbon emissions (also referred to as GHG or greenhouse gas emissions).
On the basis of Geography, Asia Pacific is expected to hold a dominant position during the forecast period owing to rising carbon emissions, favorable government initiatives or support, increasing adoption of carbon pricing, and high demand for carbon offsets/credits in the region.
Competitive Landscape:
Key players operating in the global climate and carbon finance market include Climate Finance Partners, Carbon Credit Capital, ClimateCare, South Pole Group, Carbon Clear, EcoAct, First Climate, ClimatePartner, Ecosphere+, Verra, Gold Standard, Natural Capital Partners, Climate Friendly, Forest Carbon, and Climate Trust Capital, among others.
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Detailed Segmentation:
- Global Climate And Carbon Finance Market, By Market Type:
- Voluntary Market
- Compliance Market
- Global Climate And Carbon Finance Market, By Project Type:
- Renewable Energy Projects
- Energy Efficiency Projects
- Forest Carbon Projects
- Methane Capture and Utilization Projects
- Waste Management Projects
- Agriculture and Land Use Projects
- Others
- Global Climate And Carbon Finance Market, By Buyer Type:
- Corporates
- Governments
- Financial Institutions
- Non-Governmental Organizations (NGOs)
- Individuals
- Global Climate And Carbon Finance Market, By Carbon Market Mechanism:
- Cap and Trade (Emissions Trading System)
- Carbon Offsetting (Voluntary Carbon Credits)
- Carbon Pricing (Carbon Tax or Fee)
- Global Climate And Carbon Finance Market, By Sector Focus:
- Energy and Utilities
- Transportation
- Manufacturing and Industrial Processes
- Agriculture and Forestry
- Buildings and Construction
- Waste Management
- Others
- Global Climate And Carbon Finance Market, By Transaction Type:
- Spot Market
- Forward Market
- Futures Market
- Global Climate And Carbon Finance Market, By Market Participants:
- Carbon Project Developers
- Carbon Market Intermediaries (Brokers, Consultants)
- Carbon Credit Verifiers and Validators
- Exchange Platforms
- Global Climate And Carbon Finance Market, By Geographic Scope:
- North America
- Latin America
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country:
- Europe
- By Country:
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- By Country:
- Asia Pacific
- By Country
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Country
- Middle East
- By Country:
- GCC Countries
- Israel
- Rest of Middle East
- By Country:
- Africa
- By Country/Region:
- South Africa
- Central Africa
- North Africa
- By Country/Region:
Related Market Intelligence Reports:
Emissions Trading Market, By Emission Trading Scheme (ETS) Type (Cap-and-Trade, Emissions Reduction Credit (ERC) Trading, Offset and Credit Trading), By Geographical Coverage (Regional Emissions Trading Schemes, National Emissions Trading Schemes, International Emissions Trading Mechanisms), By Covered Sectors (Energy and Power Generation, Industrial Processes, Transportation, Agriculture and Land Use), By Tradable Emission Units (Carbon Allowances, Carbon Offsets, Emission Reduction Units (ERUs), Certified Emission Reductions (CERs)), By Compliance vs. Voluntary Markets (Compliance Markets, Voluntary Markets), By Time Frame and Phases (Phases of Emission Trading Schemes, Carbon Budgets), By Technology Type (Carbon Capture and Storage (CCS), Renewable Energy Projects), And By Geography (North America, Europe, Asia Pacific, Latin America)- Size, Share, Outlook, and Opportunity Analysis, 2023 – 2030
Green Bond Market, By Type of Issuer (Sovereign Green Bonds, Corporate Green Bonds, Municipal Green Bonds), By Project Types Funded (Renewable Energy, Energy Efficiency, Sustainable Transportation, Green Buildings, Climate Change Adaptation, Biodiversity and Conservation), By Use of Proceeds (Use of Proceeds-Labelled Green Bonds, Use of Proceeds-Unlabelled Green Bonds), By Currency (USD (United States Dollar), EUR (Euro), JPY (Japanese Yen), CNY (Chinese Yuan), Other currencies), By Certification (Climate Bonds Certified, Other Certified Green Bonds), By Tenor (Short-term Green Bonds, Medium-term Green Bonds, Long-term Green Bonds), And By Geography (North America, Europe, Asia Pacific, Latin America)- Size, Share, Outlook, and Opportunity Analysis, 2023 – 2030
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