Carbon credits face critical test, projected to hit $238/Ton by 2050: BloombergNEF Report

2024 will be a year of challenges and opportunities for the carbon offset market, notes the BloombergNEF’s (BNEF’s) Long-Term Carbon Offsets Outlook 2024 report.

The market’s success could propel annual carbon credit purchases to billions, driving prices beyond $200 per ton and nurturing a market valued at over $1.1 trillion by 2050. On the other hand, a failure may lead to the market’s demise.