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Market Coverage - Carbon Offsets
Full Market Coverage
InSight Primer Coverage
InScope Coverage
VCM

$0.50 – $2000

Annual Emissions

153.25 MMT (Credits Retired)

Market Value

$2 Billion

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WCI CCOs

$28.35 (Golden DEB)

Annual Emissions

15 MMT

Market Value

$350m

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VCM

Price per Ton
$0.50 - $2000
Annual Emissions
153.25 MMT (Credits Retired)
Market Value
$2 Billion
Program Start Date
c. 2012 (Modern VCM)
Legislated Until
No State Legislation, Targets typically 2030 and 2045/50
Number of Participants
~1500
Member States
Global Corporates

The Voluntary Carbon Market for carbon credits

cCarbon’s initial VCM coverage was driven out of the urgent need for price transparency, fulfilled through our VCM Pricing Window – built on aggregated average pricing from real transactions of data partners.
As the market has matured, pricing is still opaque but the real challenge and most valuable insight lies in forecasting what the market will look like in 2030 and 2050. Including determining which credit types will still be widely accepted and used, also what scale the market will be operating at – single, tens, or hundreds of billions. Nationalized projects and usage towards NDC contributions may have a vital say in this, as will the myriad of compliance markets that are likely to dip into and interact with the VCM, its offsets acting as the connective tissue of the carbon world.

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Our Forecasts

Forecast Target Variable Horizon Resolution Updated Since & Track Record
VCM Supply-Demand Forecast Sub-market Issuances and Retirements Until 2030 Annually Biennially Since 2022; we were comparatively pessimistic on VCM demand - borne out by 2023
A highly complex, multi-faceted market, with market definitions still in flux - making in-depth analysis and forecasting all the more essential.
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WCI CCOs

Price per Ton
$18-$27 (DEBs vs Non-DEBs)
Annual Emissions
15 MMT
Market Value
$350m
Program Start Date
2012, DEBs specification from 2020 onwards
Legislated Until
2030
Number of Participants
420
Member States
California & Quebec

California Carbon Offsets within the Western Climate Initiative Cap-and-Trade Program

cCarbon’s coverage had a ground-breaking effect on the CCO market. We were the first firm to provide pricing (broker averages) and reflect this back to the market, these marks were widely-used as forward contract prices from 2015 onwards. With the advent of major influence of the Environmental Justice community, offsets are now split by state of origin – creating two sub-markets: DEBs and Non-DEBs. Furthermore, CCOs are seeing increasing voluntary demand as the credits are perceived as high-quality and locally attractive offsets. The resulting interplay will prove a prototype for voluntary-compliance market interdynamics in offsets.

Our Regular Content

Our Data Dashboards

Our Forecasts

Forecast Target Variable Horizon Resolution Updated Since & Track Record
CCO Fundamental Forecast Issuances & Retirements (split by DEBs) 2030 Quarterly Biennially Since 2015; initial accurate projections of project type balance, in 2020 market-first forecast delineating by DEBs
CCO Price Forecast CCO price 2030 Quarterly Biennially Since 2017, accurately predicted DEBs spread emerging in 2021, borne out by pricing since
We've been the most in-depth researcher and forecaster of this market for a decade, and we still are.
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