Carbon verification refers to independent third party attestation and validation of greenhouse gas (GHG) emissions data reported by an organization. It ensures the accuracy and integrity of emissions data reported to comply with regulatory obligations and voluntary climate programs. The process involves verification of organizational and operational boundaries, collection and reporting of activity data, selection and application of emission factors, and calculations performed to determine total emissions. With stringent regulations and commitments to reduce carbon footprint, carbon verification plays a crucial role in validating emissions reduction efforts of companies.

The global Carbon Verification Market is estimated to be valued at US$ 12.73 Bn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
Increasing carbon pricing mechanisms and trade of carbon credits have further boosted the carbon verification market. Many countries and regions have either implemented or scheduled carbon pricing through carbon taxes or emission trading programs. This provides monetary value to each ton of CO2 reduced or sequestered, thereby, incentivizing reduction activities among emitters. Carbon market participants require independent verification to issue, trade and retire carbon credits in compliance markets as well as in voluntary carbon markets.

SWOT Analysis
Strength: Carbon verification provides assurance to companies on measuring and reducing carbon footprint. This helps in getting customer trust and competitive advantage.
Weakness: Maintaining carbon databases and getting accurate data from different sources is challenging. Also, verification process involves costs.
Opportunity: Increasing demand for ESG compliant products and services is opening opportunities. Also, government policies on climate change are supporting market growth.
Threats: Alternative technologies for measuring carbon may emerge. Delays in setting global standards can impact market growth.

Key Takeaways

The Global Carbon Verification Market Demand is expected to witness high growth. The global Carbon Verification Market is estimated to be valued at US$ 12.73 Bn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030.

Europe dominates the market currently due to stringent regulations. Asia Pacific is fastest growing region due to rising industries and investments in reducing carbon footprint.

Key players operating in the Carbon Verification are Audi AG Aktiengesellschaft, Lotus Care Ltd, SGS SA, Bureau Veritas, Carbon Trust, EPA, DNV GL, TÜV NORD GROUP, TÜV Rheinland Group. Audi AG Aktiengesellschaft leads with verified carbon neutral vehicles. SGS SA, Bureau Veritas are pioneers in third party verification services. EPA, DNV GL are actively engaged in setting standards and policies.

For more details on the report, Read- https://www.ukwebwire.com/carbon-verification-market-demand-share-analysis/