On August this year, Ecosystem Marketplace recorded the growth of the best year so far in the Voluntary Carbon Market (VCM) and claimed the market as a whole was on track to break record and hit $1 billion in value by the end of 2021. This was based on collected data, demonstrating that the value was already at $748 million. The report is based on data from a global network of respondents, who report on projects from over 80 countries and included 14 carbon standards’ registries as well.

Based on the same respondents and their reported trades since September, Ecosystem Marketplace confirmed that the VCM exceeded the $1 billion breakthrough in November. This marks an incredible achievement for the VCM in an already unprecedented year.

The reported transactions show that both Forestry and Land Use, and Renewable Energy, continue to account for the majority of volumes traded, with 61% and 38% respectively – following this year’s trends. They also noted that projects with co-benefits scored a higher average price than the ones without; more than double.