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2025: The global carbon credit market in review

  • Joel Gould
    Markets & Policy Lead
  • Isobel Sizer
    Policy Associate
  • Markets and Policy
A data-led review of the global carbon credit market in 2025, through the lens of BeZero Carbon Ratings.

Contents

  • Executive Summary

  • Overall credit issuance and retirements (Figures 1-3)

  • BeZero Carbon-rated retirements (Figures 4-6)

  • Credit surplus (Figures 7 - 9)

  • Disclosed corporate retirements (Figures 10 - 12)

  • Market ‘labels’ - CCPs, CORSIA & PACM (Figures 13 - 17)

  • Price-rating relationship (Figures 18 - 25)

  • Data notes

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