Carbon Credits Market Share
By Region, the Carbon Credits Market is segmented into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
Carbon markets in North America are quite active, particularly in the United States and Canada, and are mostly driven by regional initiatives such as California's Cap-and-Trade Program and carbon pricing legislation in all Canadian provinces. Hundreds of renewable energy and forestry initiatives in the region provide carbon credits. Both compliance and voluntary markets in which parties participate reflect not just corporate social responsibility, but also regulatory requirements.
Europe is the hub of the carbon credit market. The EU ETS was one of the first compliance markets to emerge, and it is one of the largest in the world. In general, Europe has a solid basis for renewable energy and energy efficiency projects. European-based corporations are more likely to participate in the compliance market, and they are frequently found selling into both this and the voluntary markets to boost their green credentials and satisfy very stringent emission reduction objectives.