This graphic shows the indicative flow of project-based carbon credits to various end-use sources of demand. In the past, most credits were used by companies for corporate offsetting in the voluntary carbon market (VCM), with some use in national/regional compliance carbon markets. This picture is beginning to shift to include new sources of demand for credits in the emerging compliance carbon markets, both national and under the UN.
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12 October 2026
A term used to describe actions by organisations intended to create the impression of reducing emissions or improving sustainability credentials, but which lack verifiable environmental benefits.
24 September 2026
Refers to the period – usually a calendar year – in which an emissions reduction, avoidance or removal takes place. Carbon credits are often listed as being of a particular vintage.
24 September 2026
Voluntary Emission Reductions or Verified Emission Reductions. A general term used to describe project-based carbon credits.
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