Voluntary carbon credits market could reach US$50 billion by 2030

The World Bank yesterday collaborated with the Ho Chi Minh City Department of Natural Resources and Environment to host the seminar named “Focus on carbon financial market’s strength to invest on competitiveness enhancement measures”.

At the seminar, Lead Urban Specialist of World Bank Barjor Mehta said that the voluntary carbon market (VCM) had grown rapidly in recent years.

The traded voluntary carbon offset market scale increased 80 percent from 2019 to 2020 and in 2021, the trading market exceeded US$1 billion.

It is predicted that the demand for the trading of voluntary carbon credits could reach US$50 billion by 2030.