The voluntary carbon market is set for rapid growth
Voluntary market set to embrace removals
Carbon-removal technologies to gain market share as companies fret over quality of credits generated by avoidance projects, according to Shell and BCG
Voluntary carbon markets are set to undergo a fundamental shift over the next few years, with offsets generated by removal technologies such as direct air capture (DAC) gaining market share from emissions avoidance projects such as renewables, according to a report from Shell and management consultancy Boston Consulting Group (BCG). Carbon removal credits—most of which are produced by nature-based solutions—are expected to account for 35pc of the voluntary market in 2030, up from a share of less than 20pc in recent years. Emerging technologies such as DAC and bioenergy with CCS (Beccs) will gain traction as they scale up and become more affordable, the report says. $10–40bn – Potential
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