The State of the Voluntary Carbon Markets, 2021

Aaron Foyer
The States of Voluntary Carbon Markets in 2023

Voluntary carbon markets allow carbon emitters to offset their unavoidable emissions. Each credit represents one metric ton of CO2 reduced, avoided or removed from the atmosphere.

Overview of the market in 2021

Volume (MtCO2e)Price (USD/tonne)
Forestry and Land Use227.7$5.80
Household / Community Devices8$5.36
Waste Disposal11.4$3.62
Chemical Processes / Industrial Manufacturing17.3$3.12
Renewable Enegy211.4$2.26
Energy Efficiency / Fuel Switching10.9$1.99
Source: Ecosystem Marketplace

About 90% of the voluntary market was forest, land use and renewable energy. The average voluntary carbon market price in 2021 was $4.00 per tonne.

The voluntary carbon market size was nearly $2 billion in 2021 and grew 280% last year.