In the MSCI Net-Zero Tracker Periodic Report (a periodic analysis of global listed companies’ progress in mitigating climate risk), an overview of key indicators of the voluntary carbon market is provided: 1) carbon credit emissions by project type, 2) carbon credit retirements (i.e., market purchase), and 3) carbon credit prices (as of 1/31/2024).
With respect to emissions, the first quarter of 2024 was in line with the first quarter of 2023, showing stability in the voluntary carbon market. With respect to the number of carbon credits purchased during the first quarter, MSCI ESG Research reported an increase of 14.6 % compared to the same quarter 2023 generated largely by demand for nature-based projects (REDD+ and Nature Restoration credit retirements increased by 27 percent and 103 percent, respectively). With respect to average monthly carbon credit prices for all project types, MSCI denoted that these fell to $4.7 per ton of CO2e in Q1 2024.