UK Carbon Credit Market Valued at $1.6B with Future Challenges
The UK's carbon credit economy generates £1.2 billion annually and employs over 11,000 individuals. However, future growth is contingent upon proactive government measures to maintain competitive advantage in a rapidly evolving global market.
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The UK carbon credit market is valued at £1.2 billion (over $1.6 billion) and supports 11,000 jobs, according to the City of London Corporation's report. It highlights the need for government action to sustain this market advantage.
The global carbon credit market is projected to grow significantly, from $1.4 billion to between $15.8 billion and $267.9 billion by 2050, driven by factors such as AI, aviation compliance, and corporate net zero commitments. The UK leads in carbon insurance and ranks second in engineered carbon removal investment, attracting $2.5 billion from 2023 to 2025. To secure its position, the report recommends defining quality thresholds and developing a greenhouse gas removals strategy.
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