The Voluntary Carbon Offset market is booming | 2 key reasons why
Updated: Jun 4, 2021
Customer sentiment leads the way
There has been a marked evolution in the way modern customers think about consuming. Whereas before people used to only think about value as something monetary, now the trends seen in the global economy seem to show us that people are more interested in a holistic definition of value that considers sustainable development.
Modern customers want their products to be price-competitive without compromising on quality or its environmental impact. Nowadays, consumers have a wide range of businesses to choose from that have made strides to adapt their processes in order to reduce their negative impact on the environment.
Hoping the customer will choose to be unconcerned about such deeply concerning issues isn’t just wishful thinking anymore—it is a bad business decision.
Voluntary carbon offsetting offers companies as well as individuals the opportunity to buy carbon credits, which represent the mitigation of one ton of CO2. These credits allow both companies and individuals to mitigate their emissions, and by picking the right credit, the opportunity to achieve an impact beyond carbon capture.
There are many reasons why the carbon credits market is broadening, and as the world becomes increasingly aware of the impact our activities have on the environment, this trend is only expected to continue.
Looking for credits? Offset your emissions directly through the Nicaforest offsetting platform!
Below, we list 2 key reasons why the Voluntary Carbon Offset market is booming:
1. Consumer knowledge guides green innovation
A recent public opinion research study shows that a majority of people have a strong desire to change their lifestyles in ways that benefit the environment.
Climate change and its various detrimental effects on the planet have become increasingly visible, which in turn has led to rising concern amongst customers worldwide.
As the impact our activities have on our climate, forests, and communities becomes ever more apparent, the market for carbon credits is expected to continue to expand and encompass an impact beyond mitigating emissions.
The problem is that it can be difficult for businesses and individuals to discern what constitutes a good, high-quality carbon credit.
While there is no one-size-fits-all definition for a high-impact credit, the majority of them are characterized by one thing… Impact beyond carbon sequestration.
For example, a high-impact sustainable project should bring with it bold, multi-layered action that aims to not just capture emissions but to foster a more overreaching view of sustainable development.
It is this difference that sets a project apart in the carbon market; their impact in their communities, the reach of the project’s influence, combined with tangible results that are certified by experts and third parties.
Programs such as these are the direct result of the sale of carbon credits, and as more people and companies become interested in this modality of environmentalism, the prevalence of high-impact initiatives will continue to rise. Projects that are designed not just for the capture of carbon, but with the more ample scope of the Sustainable Development Goals in mind.
2. Competition breeds excellence
The rising trend of environmental consciousness has prompted the modern marketplaces to become more competitive in not just pricing and quality, but in developing new ways to entice the customer with responsible, sustainable practices that add more value to their service.
This means that as more businesses become aware of the huge potential for added value in being perceived as an environmentally conscious brand, the demand for these high-impact carbon credits will continue to grow.
More businesses will buy more carbon credits, which will in turn result in more projects with grander ambition, scope, and scale. Supporting these high-impact credits fosters the future development of similar projects, which tie carbon sequestration with a positive impact on community and environment.
This development of the market will in turn give ambitious sustainability projects the opportunity to invest further in areas of the world that are bountiful in biodiversity but lacking the means to harness it into a force for good. The competition of companies and the development of more sustainable strategies will surely mean some outdated businesses fall by the wayside, but one side of this equation that will undoubtedly benefit from this is the environment! There are no losers in the pursuit of safe, sustainable value chains.
A bright future for voluntary offsetting
The market for carbon credits isn’t expanding solely out of necessity to meet requirements, and it isn’t simply a trend either--it’s the natural reaction of society towards an increasingly more alarming situation.
Nowadays, learning high-impact carbon sequestration projects and supporting them through the purchase of carbon credits is easier than ever before. In turn, this offers individuals and businesses alike the opportunity to ensure their climate investment achieves an impact beyond carbon sequestration.
Looking for carbon credits? Offset your emissions directly through the Nicaforest offsetting platform!
Check out the Nicaforest page at Gold Standard to learn more about how the impact of the right carbon credit can stretch far beyond climate
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