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How do carbon credit buyers and sellers meet?
The 3 most common ways carbon credit suppliers and buyers meet: The voluntary carbon market trades on relationships. That perhaps isn’t surprising in a small market, but it does make…
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3 trends from >220 companies using internal carbon fees
A few years ago, I began keeping a private spreadsheet of companies that have internal carbon fees. Carbon fees are an elegant and logical way to create a budget for…
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Do project ratings matter in compliance carbon pricing schemes?
Roughly 1-in-4 carbon credits retired in 2024 were used toward a compliance carbon pricing obligation. The California/Québec cap-and-trade system is the largest compliance-driven source of demand for carbon credits from…
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Inquiry-to-deal conversion rates
On average, just 6% of carbon credit purchase inquiries end in deals. That’s according to a new report from Ecosystem Marketplace about forward-looking demand indicators for the voluntary carbon market.…
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Do carbon offtake agreements really unlock debt?
Are offtake agreements unlocking lower-cost capital for carbon projects? I ran a survey with 74 nature-based carbon project developers. Respondents said cost of capital was one of the biggest barriers…
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New buyers’ project preferences
What kind of carbon credits do new buyers purchase? In 2025, first-time carbon buyers based in Asia and Europe accounted for the largest purchase volumes among new buyers. These new…
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Nature-Based Carbon Project Finance Benchmark Report – 2025
This report dives into how nature-based carbon project developers around the globe are funding their projects, structuring offtake agreements, and where they’re running into the biggest hurdles accessing project finance.…
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Inside Mirova’s $30M soil carbon prepurchase – its largest investment to date
This month, Mirova announced a $30M carbon prepurchase from the Kheti soil carbon and regenerative agriculture project in northwest India. Mirova is a sustainable investment asset manager dedicated to improving…
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SBTi releases new net zero draft with stronger incentives for ongoing emissions
Here’s what SBTi’s new net zero draft says about mitigating ongoing emissions (and carbon credits): SBTi’s net zero standard (v1) has had no requirement for companies to take responsibility for…
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3 charts show growing price premium for high-quality NBS credits
Three charts showing the growing price premium for high-quality NBS carbon credits. 1. $10/ton growth in 2025 for highly-rated ARR credits Average prices for afforestation and reforestation (ARR) credits rated…
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Singapore’s carbon tax now accepts VM0047 credits from Ghana
Some ARR credits may now count towards Singapore’s carbon tax. For now, this may only be VM0047 projects in Ghana. But, the pool of eligible reforestation projects could grow in…
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Ideal Investor for Early-Stage NBS Carbon Project
Who is the ideal investor for an early-stage NBS carbon project? Many nature-based carbon project developers bootstrap the first $500-$1M in project costs to get through a feasibility study, or…
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100M carbon credits secured via offtake in H1 2025
>100M carbon credits were secured via offtake from Jan-June 2025. Around 50% were for NBS removals. That’s based on recent data from AlliedOffsets (Carbon Buyers Report, July 2025). Three additional…
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Louis Dreyfus Company funds major regenerative ag project in India
In August, 2025, Louis Dreyfus Company (LDC) funded a regenerative-agriculture project in Uttar Pradesh, India — among the first of its kind in the Global South. This is an insetting…
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Could philanthropic capital bridge the early-stage funding gap for carbon removal?
Could philanthropic capital help bridge the early-stage funding gap for durable carbon removal? Terraset thinks so. The non-profit recently launched a revolving fund. The fund uses philanthropic capital to make…
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CORSIA may face a carbon credit supply shortfall for Phase 1
CORSIA may face a supply shortfall of 40M to 90M credits to meet Phase 1 demand. ICAO predicts airlines will need between 100 and 150M credits by Jan 2028 to…
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1 in 4 credits retired in 2024 were for compliance markets
Nearly 1 in 4 carbon credits retired in 2024 were used to satisfy a compliance carbon pricing obligation. That’s up from 9% in 2023. 2024 may have seen an unusual…
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Microsoft & Climate Impact Partners Sign ARR Offtake
In May, 2025, Microsoft announced its first carbon offtake agreement from a project in India; its largest in the Asia-Pacific region to date. A few notes on the deal: Read…
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How Google and an Indian startup struck the largest biochar carbon removal deal ever
In January 2025, Google announced a 100,000 tons carbon offtake agreement from a biochar project in Gujarat, India. A few notes on the deal: Read my full deep dive on…
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Inside Microsoft’s Panama tropical forest carbon offtake deal
In May of 2024, Microsoft signed a 15 year offtake agreement with project developer Ponterra for approximately 1.6 million carbon credits from a reforestation project in Panama. A few notes…
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How Workday uses carbon offtake agreements to scale climate impact
In early 2024, Workday signed three multi-year carbon-credit offtake agreements, committing to buy over 300,000 credits from three different project developers over a 6 year period. The offtakes were with…
