Global Carbon Market Size is expected to grow at a significant pace during the forecast period...

Yahoo Finance - SPHERICAL INSIGHTS LLP

Published: November 9th, 2023

The Global Carbon Market Size is to grow from insignificant in 2022 to significant Share by 2032, at a Compound Annual Growth Rate (CAGR) of Fastest CAGR during the projected period. Demand for organizations to reduce greenhouse gas emissions, stricter environmental regulations, and increased awareness of the effects of climate change are all expected to drive significant growth in the worldwide carbon market throughout the forecast period.

The global carbon market, also known as the carbon trading market or the emissions trading market, is a project to reduce greenhouse gas emissions and mitigate climate change. It works on the principle of putting a monetary value on carbon emissions in order to encourage businesses and governments to reduce their carbon footprint. Additionally, most countries around the world are taking proactive steps to reduce carbon emissions, such as the deployment of low-carbon technologies such as EVs, abatement subsidies for fossil fuels, a carbon pricing system, and the purchase and manufacture of green energy and EE products. Regulatory measures, voluntary corporate actions, growing carbon prices, and technological advancements are critical driving forces in the growth and development of the global carbon market. Furthermore, factors such as the stringency of caps or targets, monitoring and verification systems, and market integration across many regions determine the efficacy and overall impact of carbon markets in lowering emissions. The market's purpose in instituting a carbon price is to absorb the environmental costs of emitting greenhouse gases while encouraging investments in clean and sustainable industries.

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