Carbon markets: 5 things to look for in 2024 Report

Insight 19 January 2024

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Report summary

Carbon markets experienced both development and challenges in 2023. While compliance regimes faced demand weakness amid slower economic growth, they proved resilient amid volatile environments. The voluntary carbon market was under criticism for over-crediting certain project types and suffered disappointment when the Article 6 negotiation failed at COP28. We expect compliance carbon pricing to continue to expand impacts in 2024, while different players in the voluntary carbon market work constructively to bring more transparency and guidance to the market in the year.

1. More countries to tax carbon at the border
2. Compliance carbon markets will continue to grow
3. Carbon offset market to rely on independent organisations as Article 6 progress stalls
4. Will integrity initiatives impact the market as much as needed?
5. New methodologies for carbon offset projects