January 2024 reveals voluntary surprises in the carbon credit market

January 2024 saw more retirements compared to the same month last year and is expected to surpass 2022 retirements, according to a report by Viridios AI, a voluntary carbon credit market pricing and data provider.

Viridios is a climate technology platform that provides carbon credit prices , assessments and project data to increase voluntary carbon market transparency. 

Overall, trading was at voluntary carbon market (VCM) relatively weak in the past week. 

Renewable Energy Credits (RECs) , especially from India, saw price increases, leading to a shift in demand from Chinese to Indian credits. Activity in the native species removal market is slow, but projects in this category are starting to pay off.

However, the REDD+ segment faces minimal activity, either on the market or over the counter, indicating muted interest in this nature-based category. (Jennifer L)