The Global Carbon Credit Market is estimated to be valued at US$ 25.35 Bn in 2023 and is expected to exhibit a CAGR of 24.4% over the forecast period from 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
The Global Carbon Credit Market Size driven by the increasing adoption of sustainable practices across various industries. Carbon credits are a key component of emissions trading schemes, which aim to reduce greenhouse gas emissions. These credits represent a reduction of one metric ton of carbon dioxide or its equivalent gases. They can be bought and sold in the international carbon market and are used by companies to offset their own emissions. The major players in the market include WGL Holdings, Inc., Enking International, Green Mountain Energy, Native Energy, Cool Effect, Inc., Clear Sky Climate Solutions, Sustainable Travel International, 3 Degrees, terrapass, and Sterling Planet, Inc.

Market Dynamics:
The Global Carbon Credit Market is driven by two main factors. Firstly, there is a growing awareness among businesses and individuals about the impact of carbon emissions on the environment. Companies are taking proactive measures to reduce their carbon footprint and offset their emissions through the purchase of carbon credits. This is driving the demand for carbon credits in the market.

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