Full definition
Voluntary market (companies) and compliance market (ETS). Main standards: Verra (VCS), Gold Standard and Label Bas-Carbone in France. The voluntary market faces a crisis of confidence: $535M in reported transactions in 2024 (-29 %), average price of $6.34/t, but enormous variation by quality (removal credits sell for almost 5 times the price of avoidance credits). Article 6.4 of the Paris Agreement issued its first UN credits (PACM) in February 2026, a first step towards a regulated international market. SBTi’s rule is unchanged: credits never count towards reduction targets, only towards contribution beyond the pathway.
Key figures
- $6.34/taverage price of a voluntary credit in 2024, market down 29 % (Ecosystem Marketplace, 2025)
- February 2026issuance of the first UN PACM credits under Article 6.4 of the Paris Agreement
- less than 16 %share of studied credits representing real reductions according to the reference meta-analysis (Nature Communications, 2024)
Questions and answers
Does buying carbon credits reduce my carbon inventory?
No. Credits are never deducted from the GHG inventory: a BEGES or CSRD report presents gross emissions. Credits are a voluntary contribution, in addition to (never instead of) a reduction pathway. This is ADEME’s and SBTi’s consistent position.
How can you distinguish a good carbon credit from a bad one?
The criteria determining price and credibility: demonstrated additionality, permanence (geological removal is worth more than avoidance), independent verification and a transparent registry. Academic research estimates that less than 16 % of studied credits represent real reductions: selectivity is the rule, rather than an option.