HomeCarbon CreditsThe Institute of International Finance Predicts Voluntary Carbon Credit Market to $100...

The Institute of International Finance Predicts Voluntary Carbon Credit Market to $100 Billion a year by 2050

Governments and corporate leaders are under increasing pressure to deliver on pledges made as part of the historic Paris Agreement ahead of the COP26, which will take place in Glasgow, Scotland in early November.

Earlier this week, the Taskforce on Scaling Voluntary Carbon Markets released the second part of its strategy for establishing a large-scale, transparent carbon credit trading market.

The private-sector-led initiative, which was launched last year by former Bank of England governor Mark Carney, believes that a broad-based carbon market is “critical” for limiting global warming to 1.5 degrees Celsius above pre-industrial levels — a critical global goal outlined in the Paris Agreement.

This will enable more enterprises to put their net-zero promises into action by investing in emissions abatement projects, which will have the greatest impact.

SourceCNBC
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