Greenhouse Gas Market Report 2025: The New Carbon Order

IETA’s report provides a detailed overview of compliance and voluntary carbon markets in 2025. It reviews Article 6 readiness, ETS growth, CORSIA’s first operational phase, evolving VCM demand signals and the rise of high-integrity credits. The report analyses governance gaps, data and registry interoperability, legal clarity and digital MRV as critical enablers of scale. It highlights how emerging policy frameworks and corporate demand are driving a new phase of integration across global carbon markets.

Carbon market integrity: How to move beyond the limitations and uncertainties?

Published by AFD, this briefing examines the structural complexity of carbon credits and the institutional factors shaping carbon market integrity. It details technical risks, additionality, permanence, over-crediting, leakage and double counting, and how information asymmetry affects credit quality. The paper reviews ICVCM, VCMI, Article 6 and registry reforms, arguing that alignment with NDCs, legal clarity and transparent infrastructure are essential for a high-integrity VCM.

High-integrity carbon projects in the Brazilian Amazon

Published by VCMI and partners, this guide sets out practical steps for developing high-integrity carbon projects in the Brazilian Amazon. It explains Brazil’s federal and state rules, clarifies land tenure and carbon rights, and details requirements on FPIC, benefit sharing, safeguards, MRV and contracting so projects align with national law and international integrity standards.

Shared principles for growing high-integrity use of carbon credits by companies and other buyers

This guidance by the Coalition to Grow Carbon Markets outlines voluntary principles for increasing high-integrity corporate demand for carbon credits. It sets expectations for decarbonisation-first strategies, procurement of high-quality reductions and removals, fair pricing, co-benefits, transparent disclosure and substantiated claims. The principles draw on PACM, ICVCM and CORSIA standards, and encourage government alignment to improve market consistency, legal clarity and recognition of credible buyers.

Voluntary Biodiversity Credits: A Guide for Business

Developed by IMD and UNIL, this practical guide explains how voluntary biodiversity credits (VBCs) can finance conservation and restoration while supporting business biodiversity goals. It contrasts VBCs with carbon credits, sets integrity criteria, and offers a step-by-step buyer checklist. Emphasises outcome-based biodiversity measurement, credible MRV, Indigenous participation, and transparency as foundations of a high-quality VBC market.

A confident carbon market: Business perspectives

This VCMI – Accenture study explores the key concerns and opportunities shaping corporate engagement in voluntary carbon markets based on input from 65+ companies and 60 market reports. While carbon markets remain essential to climate ambition, risks currently outweigh perceived benefits. Businesses call for clarity on how and when to use credits. Framework alignment, credit quality assurance, and clearer financial value cases are seen as critical to increasing corporate investment and restoring momentum.

Corporate buyers in the voluntary carbon market (July 2025)

This AlliedOffsets report analyses voluntary carbon market activity by corporate buyers, revealing that demand remains highly concentrated, with Microsoft and Meta leading. Financial services and tech dominate volumes, but new entrants across sectors are emerging. It explores buyer motivations, retirement trends, and offsetting behavior, including how different sectors approach Scope 3. Regional and company-level insights show growing attention to integrity, price signals, and permanence. The report includes a leaderboard, strategy breakdowns, and trends in project types and geographies.

CDR: State of the market (July 2025)

This AlliedOffsets market overview tracks the surge in carbon dioxide removal (CDR) activity in H1 2025. While Microsoft continues to dominate demand, biochar and biomass-based methods lead in issuance. The report unpacks buyer trends, price shifts, and early diversification into DAC, ERW, and mineralization.