Demand trends in the VCM: Moving towards quality
Here are some key takeaways
Growth in demand has returned to the VCM; December 2023 and January 2024 are first and sixth (respectively) in the list of the top months for retirements in market history.
If recent growth is maintained, our projection suggests that 2024 could top 250 million retirements for the first time, which would shatter the existing record for VCM retirements.
There is growing demand for credits with higher BeZero Carbon Ratings, and this demand is driving price dynamics.
December 2023 and January 2024 have been record-breaking months for VCM demand
Year-on-year growth in retirements has returned in recent months
If recent trends are maintained, 2024 could be a record-breaking year for the VCM
The proportion BeZero-rated credit retirements with higher ratings has grown considerably
The growing demand for higher-rated credits is driving price dynamics