Summary

The global carbon credit validation, verification, certification market is on a trajectory to reach USD 884 million by 2030, a notable increase from the estimated USD 226 million in 2024, with a steady CAGR of 25.5% spanning the period from 2024 to 2030. The future prospects of the global carbon credit validation, verification, and certification market are highly promising, driven by escalating regulatory demands and heightened corporate and public awareness of climate change. As governments worldwide continue to implement stringent carbon reduction mandates and more companies adopt net-zero strategies, the demand for validated and certified carbon credits is expected to rise substantially. This increasing demand will spur technological advancements and innovations, particularly in remote sensing, GIS, and blockchain technologies, enhancing the efficiency and transparency of the validation and verification processes. Moreover, the expansion of carbon markets, including compliance and voluntary markets, will further fuel the growth of the validation, verification, and certification industry. With new revenue opportunities emerging from sectors such as agriculture, forestry, and industrial manufacturing, and growing investments in sustainable projects, the market is poised for significant growth. As a result, businesses engaged in these processes will play a critical role in ensuring the integrity and reliability of carbon credits, thus supporting global efforts to mitigate climate change. “Water & wastewater segment, by Sector, to hold forth-largest market share from 2024 to 2030.” Water and wastewater management hold the fourth largest market share in the global carbon credit validation, verification, and certification market due to the sector's substantial potential for greenhouse gas emission reductions. Through the implementation of advanced technologies and sustainable practices, water and wastewater facilities can significantly lower their carbon footprint. Projects such as methane capture from wastewater treatment plants and the energy-efficient operation of water distribution systems contribute to the generation of carbon credits. As regulatory pressures increase and the emphasis on sustainable water management grows, the sector's involvement in carbon credit markets is expected to expand, driving further demand for validation, verification, and certification services. “Compliance segment, by type, to be the second-largest market from 2024 to 2030.” The compliance market holds the second largest market share in the global carbon credit validation, verification, and certification sector due to stringent regulatory frameworks and government mandates that require industries to adhere to emission reduction targets. Compliance markets, such as the European Union Emissions Trading System (EU ETS) and California's Cap-and-Trade Program, create a substantial demand for verified carbon credits to meet legal obligations. This drives continuous investment in the validation, verification, and certification processes to ensure that credits are credible and meet regulatory standards, thereby supporting the growth and stability of the compliance carbon credit market. Breakdown of Primaries: In-depth interviews with key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, were conducted to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The primary interviews were distributed as follows: By Company Type: Tier 1-30%, Tier 2-55%, and Tier 3-15% By Designation: C-Level-30%, D-Level-20%, and Others-50% By Region: North America–18%, Europe–8%, Asia Pacific–60%, South America–4% and Middle East & Africa–10%. Note: “Others” include sales managers, engineers, and regional managers The tiers of the companies are defined based on their total revenue as of 2021: Tier 1: >USD 1 billion, Tier 2: USD 500 million–1 billion, and Tier 3:

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Table of Contents

1 INTRODUCTION 21
1.1 STUDY OBJECTIVES 21
1.2 MARKET DEFINITION 22
1.3 STUDY SCOPE 22
1.3.1 MARKETS COVERED 22
1.3.2 YEARS CONSIDERED 23
1.3.3 INCLUSIONS AND EXCLUSIONS 23
1.4 CURRENCY CONSIDERED 24
1.5 UNITS CONSIDERED 24
1.6 LIMITATIONS 24
1.7 STAKEHOLDERS 24
1.8 IMPACT OF RECESSION ON CARBON CREDIT VALIDATION, VERIFICATION, AND CERTIFICATION MARKET 25
2 RESEARCH METHODOLOGY 26
2.1 RESEARCH DATA 26
2.1.1 SECONDARY DATA 27
2.1.1.1 List of major secondary sources 27
2.1.1.2 Key data from secondary sources 27
2.1.2 PRIMARY DATA 28
2.1.2.1 Key participants in primary interviews 28
2.1.2.2 Key industry insights 28
2.1.2.3 Key data from primary sources 29
2.1.2.4 Breakdown of primaries 29
2.2 MARKET SIZE ESTIMATION METHODOLOGY 31
2.2.1 BOTTOM-UP APPROACH 31
2.2.1.1 Approach to arrive at market size using bottom-up analysis
(demand side) 32
2.2.1.1.1 Regional analysis 32
2.2.1.1.2 Country-level analysis 33
2.2.1.1.3 Demand-side assumptions 33
2.2.1.1.4 Demand-side calculations 33
2.2.2 TOP-DOWN APPROACH 34
2.2.2.1 Approach to arrive at market size using top-down analysis
(supply side) 35
2.2.2.1.1 Supply-side assumptions 36
2.2.2.1.2 Supply-side calculations 36
2.3 FORECAST 36
2.4 MARKET BREAKDOWN AND DATA TRIANGULATION 37
2.5 RESEARCH ASSUMPTIONS 38
2.6 RISK ANALYSIS 38
2.7 RECESSION IMPACT 38
2.8 RESEARCH LIMITATIONS 38
3 EXECUTIVE SUMMARY 39
4 PREMIUM INSIGHTS 43
4.1 ATTRACTIVE OPPORTUNITIES IN CARBON CREDIT VALIDATION, VERIFICATION, AND CERTIFICATION MARKET 43
4.2 CARBON CREDIT VALIDATION, VERIFICATION, AND CERTIFICATION MARKET, BY REGION 44
4.3 CARBON CREDIT VALIDATION, VERIFICATION, AND CERTIFICATION MARKET IN ASIA PACIFIC, BY TYPE AND APPLICATION 45
4.4 CARBON CREDIT VALIDATION, VERIFICATION, AND CERTIFICATION MARKET, BY TYPE 45
4.5 CARBON CREDIT VALIDATION, VERIFICATION, AND CERTIFICATION MARKET,
BY APPLICATION 46
5 MARKET OVERVIEW 47
5.1 INTRODUCTION 47
5.2 MARKET DYNAMICS 48
5.2.1 DRIVERS 48
5.2.1.1 Enforcement of regulations pushing CO2 emission reduction and encouraging use of carbon credits 48
5.2.1.2 Growing focus of corporate companies on sustainability commitments 50
5.2.1.3 Technological advancements in carbon credit mechanisms 51
5.2.2 RESTRAINTS 53
5.2.2.1 Fluctuations and unpredictability in carbon credit market 53
5.2.2.2 Higher cost of carbon credit verification services 54
5.2.3 OPPORTUNITIES 55
5.2.3.1 Expansion of carbon market in developing nations 55
5.2.3.2 Integration of carbon credits into financial instruments 56
5.2.3.3 Rising use of nature-based solutions to mitigate environmental challenges 57
5.2.4 CHALLENGES 58
5.2.4.1 Ensuring integrity and transparency of carbon credit transactions 58
5.2.4.2 Inconsistent regulatory frameworks across different regions 59
5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS 60
5.4 ECOSYSTEM ANALYSIS 61
5.5 INVESTMENT AND FUNDING SCENARIO 63
5.6 SUPPLY CHAIN ANALYSIS 63
 
5.7 TECHNOLOGY ANALYSIS 65
5.7.1 KEY TECHNOLOGIES 65
5.7.1.1 Blockchain technology 65
5.7.2 COMPLEMENTARY TECHNOLOGIES 66
5.7.2.1 Remote sensing and geographic information systems 66
5.7.3 PRICING ANALYSIS 67
5.8 KEY CONFERENCES AND EVENTS, 2024–2025 68
5.9 REGULATORY LANDSCAPE 69
5.9.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 69
5.9.2 CODES AND REGULATIONS RELATED TO CARBON OFFSET MARKET 72
5.9.3 STANDARDS RELATED TO CARBON OFFSETS 73
5.10 PATENT ANALYSIS 75
5.11 PORTER’S FIVE FORCES ANALYSIS 76
5.11.1 THREAT OF SUBSTITUTES 77
5.11.2 BARGAINING POWER OF SUPPLIERS 78
5.11.3 BARGAINING POWER OF BUYERS 78
5.11.4 THREAT OF NEW ENTRANTS 79
5.11.5 INTENSITY OF COMPETITIVE RIVALRY 80
5.12 KEY STAKEHOLDERS AND BUYING CRITERIA 81
5.12.1 KEY STAKEHOLDERS IN BUYING PROCESS 81
5.12.2 BUYING CRITERIA 81
5.13 CASE STUDY ANALYSIS 82
5.13.1 VERRA AND FCPF COLLABORATE VERRA TO GENERATE HIGH-QUALITY CARBON CREDITS FOR NATIONAL REDD+ PROGRAMS 82
5.13.2 GOLD STANDARD HELPS REDUCE EMISSIONS AND ENHANCE SUSTAINABILITY THROUGH DECENTRALIZED ORGANIC WASTE PROCESSING AND CARBON CREDIT GENERATION 82
5.13.3 ACR GREENTREES REFORESTATION PROJECT ENSURES BIODIVERSITY CONSERVATION AND HIGH-QUALITY CARBON CREDIT GENERATION THROUGH REFORESTATION IN MISSISSIPPI ALLUVIAL VALLEY 83
5.13.4 SCS GLOBAL SERVICES PROVIDES CERTIFICATION FOR CARBON-NEUTRAL PINEAPPLE PRODUCTION WITH CUTTING-EDGE SUSTAINABILITY PRACTICES 83
6 CARBON CREDIT VALIDATION, VERIFICATION, CERTIFICATION SERVICES 84
6.1 INTRODUCTION 85
6.2 VALIDATION 85
6.3 VERIFICATION 86
6.4 CERTIFICATION 86
7 CARBON CREDIT VALIDATION, VERIFICATION, AND CERTIFICATION MARKET, BY TYPE 88
7.1 INTRODUCTION 89
 
7.2 VOLUNTARY 90
7.2.1 INCREASING AWARENESS OF POTENTIAL IMPACT OF CLIMATE CHANGE TO ACCELERATE SEGMENTAL GROWTH 90
7.3 COMPLIANCE 92
7.3.1 RISING INVESTMENT IN CLEAN DEVELOPMENT MECHANISM PROJECTS TO STIMULATE SEGMENTAL GROWTH 92
8 CARBON CREDIT VALIDATION, VERIFICATION, CERTIFICATION MARKET, BY APPLICATION 95
8.1 INTRODUCTION 96
8.2 ENERGY & UTILITIES 97
8.2.1 EMPHASIS ON RENEWABLE ENERGY ADOPTION TO DRIVE SEGMENTAL GROWTH 97
8.3 TRANSPORTATION 98
8.3.1 SHIFT TOWARD ELECTRIC VEHICLES AND BIOFUELS TO ACCELERATE DEMAND 98
8.4 AGRICULTURE & FORESTRY 99
8.4.1 ADOPTION OF SUSTAINABLE AGRICULTURE PRACTICES TO FUEL MARKET GROWTH 99
8.5 WATER & WASTEWATER MANAGEMENT 101
8.5.1 GROWING IMPORTANCE OF WATER MANAGEMENT AND CONSERVATION TO BOOST DEMAND 101
8.6 INDUSTRIAL 102
8.6.1 IMPLEMENTATION OF CLEANER TECHNOLOGIES AND ENERGY EFFICIENCY IMPROVEMENTS TO DRIVE MARKET 102
8.7 OTHERS 103
9 CARBON CREDIT VALIDATION, VERIFICATION, AND CERTIFICATION MARKET, BY REGION 105
9.1 INTRODUCTION 106
9.2 EUROPE 108
9.2.1 RECESSION IMPACT ON MARKET IN EUROPE 109
9.2.2 GERMANY 111
9.2.2.1 Effective climate policies and initiatives to reduce GHG emissions to drive market 111
9.2.3 UK 112
9.2.3.1 Adoption of renewable energy projects to create lucrative opportunities 112
9.2.4 REST OF EUROPE 113
9.3 NORTH AMERICA 115
9.3.1 RECESSION IMPACT ON MARKET IN NORTH AMERICA 116
9.3.2 US 119
9.3.2.1 Increasing investment in carbon offset projects to boost demand 119
 
9.3.3 CANADA 120
9.3.3.1 Corporate sustainability initiatives aiming for carbon neutrality to drive market 120
9.3.4 MEXICO 121
9.3.4.1 Forest conservation and reforestation projects to support market growth 121
9.4 ROW 123
9.4.1 RECESSION IMPACT ON MARKET IN ROW 123
9.4.2 SOUTH AMERICA 126
9.4.2.1 Rising use of carbon credit mechanisms to mitigate climate change impacts to foster market growth 126
9.4.3 MIDDLE EAST &AFRICA 127
9.4.3.1 Rapid urbanization and population growth to drive market 127
9.5 ASIA PACIFIC 128
9.5.1 RECESSION IMPACT ON MARKET IN ASIA PACIFIC 129
9.5.2 CHINA 132
9.5.2.1 Ambitious climate goals and transition toward low-carbon economy to drive market 132
9.5.3 INDIA 133
9.5.3.1 Stringent emission regulations and renewable energy initiatives to fuel market growth 133
9.5.4 REST OF ASIA PACIFIC 134
10 COMPETITIVE LANDSCAPE 136
10.1 OVERVIEW 136
10.2 KEY PLAYER STRATEGIES/RIGHT TO WIN, 2020–2024 136
10.3 MARKET SHARE ANALYSIS, 2023 138
10.4 REVENUE ANALYSIS, 2019–2023 139
10.5 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023 140
10.5.1 STARS 140
10.5.2 EMERGING LEADERS 140
10.5.3 PERVASIVE PLAYERS 140
10.5.4 PARTICIPANTS 140
10.5.5 COMPANY FOOTPRINT: KEY PLAYERS, 2023 142
10.5.5.1 Company footprint 142
10.5.5.2 Type footprint 143
10.5.5.3 Application footprint 144
10.5.5.4 Region footprint 145
10.6 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023 146
10.6.1 PROGRESSIVE COMPANIES 146
10.6.2 RESPONSIVE COMPANIES 146
10.6.3 DYNAMIC COMPANIES 146
10.6.4 STARTING BLOCKS 146
 
10.6.5 COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2023 148
10.6.5.1 Details list of startups/SMEs 148
10.6.5.2 Competitive benchmarking of key startups/SMEs 148
10.7 COMPANY VALUATION AND FINANCIAL METRICS 149
10.8 BRAND/PRODUCT COMPARISON 150
10.9 COMPETITIVE SCENARIO AND TRENDS 151
10.9.1 PRODUCT LAUNCHES 151
10.9.2 DEALS 152
10.9.3 EXPANSIONS 155
10.9.4 OTHERS 157
11 COMPANY PROFILES 158
11.1 KEY PLAYERS 158
11.1.1 VERRA 158
11.1.1.1 Business overview 158
11.1.1.2 Products/Solutions/Services offered 159
11.1.1.3 Recent developments 160
11.1.1.3.1 Product launches 160
11.1.1.3.2 Deals 160
11.1.1.4 MnM view 161
11.1.1.4.1 Key strengths/Right to win 161
11.1.1.4.2 Strategic choices 161
11.1.1.4.3 Weaknesses/Competitive threats 161
11.1.2 GOLD STANDARD 162
11.1.2.1 Business overview 162
11.1.2.2 Products/Solutions/Services offered. 162
11.1.2.3 Recent developments 163
11.1.2.3.1 Product launches 163
11.1.2.3.2 Deals 163
11.1.2.3.3 Others 164
11.1.2.4 MnM view 165
11.1.2.4.1 Key strengths/Right to win 165
11.1.2.4.2 Strategic choices 165
11.1.2.4.3 Weaknesses/Competitive threats 165
11.1.3 CLIMATE ACTION RESERVE 166
11.1.3.1 Business overview 166
11.1.3.2 Products/Solutions/Services offered 166
11.1.3.3 Recent developments 167
11.1.3.3.1 Deals 167
11.1.3.3.2 Expansions 167
 
11.1.3.4 MnM view 167
11.1.3.4.1 Key strengths/Right to win 167
11.1.3.4.2 Strategic choices 168
11.1.3.4.3 Weaknesses/Competitive threats 168
11.1.4 TÜV SÜD 169
11.1.4.1 Business overview 169
11.1.4.2 Products/Solutions/Services offered 170
11.1.4.3 Recent developments 171
11.1.4.3.1 Deals 171
11.1.4.4 MnM view 171
11.1.4.4.1 Key strengths/Right to win 171
11.1.4.4.2 Strategic choices 171
11.1.4.4.3 Weaknesses/Competitive threats 171
11.1.5 SGS SOCIÉTÉ GÉNÉRALE DE SURVEILLANCE SA 172
11.1.5.1 Business overview 172
11.1.5.2 Products/Solutions/Services offered 173
11.1.5.3 Recent developments 174
11.1.5.3.1 Deals 174
11.1.5.3.2 Expansions 174
11.1.5.3.3 Others 174
11.1.5.4 MnM view 175
11.1.5.4.1 Key strengths/Right to win 175
11.1.5.4.2 Strategic choices 175
11.1.5.4.3 Weaknesses/Competitive threats 175
11.1.6 ACR 176
11.1.6.1 Business overview 176
11.1.6.2 Products/Solutions/Services offered 176
11.1.6.3 Recent developments 177
11.1.6.3.1 Deals 177
11.1.6.3.2 Expansions 177
11.1.6.4 MnM view 177
11.1.6.4.1 Key strengths/Right to win 177
11.1.6.4.2 Strategic choices 177
11.1.6.4.3 Weaknesses/Competitive threats 178
11.1.7 DNV GL 179
11.1.7.1 Business overview 179
11.1.7.2 Products/Solutions/Services offered 179
11.1.7.3 Recent developments 180
11.1.7.3.1 Expansions 180
 
11.1.8 INTERTEK GROUP PLC 181
11.1.8.1 Business overview 181
11.1.8.2 Products/Solutions/Services offered 182
11.1.8.3 Recent developments 183
11.1.8.3.1 Deals 183
11.1.9 BUREAU VERITAS 184
11.1.9.1 Business overview 184
11.1.9.2 Products/Solutions/Services offered 185
11.1.9.3 Recent developments 186
11.1.9.3.1 Expansions 186
11.1.10 THE ERM INTERNATIONAL GROUP LIMITED 187
11.1.10.1 Business overview 187
11.1.10.2 Products/Solutions/Services offered 187
11.1.10.3 Recent developments 188
11.1.10.3.1 Deals 188
11.1.10.3.2 Expansions 189
11.1.11 SCS GLOBAL SERVICES 190
11.1.11.1 Business overview 190
11.1.11.2 Products/Solutions/Services offered 190
11.1.11.3 Recent developments 191
11.1.11.3.1 Product launches 191
11.1.12 CLIMATE IMPACT PARTNERS 192
11.1.12.1 Business overview 192
11.1.12.2 Products/Solutions/Services offered 192
11.1.12.3 Recent developments 193
11.1.12.3.1 Deals 193
11.1.13 RINA S.P.A. 194
11.1.13.1 Business overview 194
11.1.13.2 Products/Solutions/Services offered 194
11.1.13.3 Recent developments 195
11.1.13.3.1 Others 195
11.1.14 AENOR 196
11.1.14.1 Business overview 196
11.1.14.2 Products/Solutions/Services offered. 196
11.1.15 SUSTAINCERT 197
11.1.15.1 Business overview 197
11.1.15.2 Products/Solutions/Services offered 197
11.1.15.3 Recent developments 198
11.1.15.3.1 Product launches 198
11.1.15.3.2 Deals 198
 
11.1.16 ASTER GLOBAL ENVIRONMENTAL SOLUTIONS 199
11.1.16.1 Business overview 199
11.1.16.2 Products/Solutions/Services offered 199
11.1.17 CARBONCHECK 200
11.1.17.1 Business overview 200
11.1.17.2 Products/Solutions/Services offered 200
11.1.17.3 Recent developments 201
11.1.17.3.1 Expansions 201
11.1.17.3.2 Others 201
11.1.18 ANEW CLIMATE, LLC 202
11.1.18.1 Business overview 202
11.1.18.2 Products/Solutions/Services offered 202
11.1.18.3 Recent developments 203
11.1.18.3.1 Deals 203
11.1.19 THE CARBON TRUST 204
11.1.19.1 Business overview 204
11.1.19.2 Products/Solutions/Services offered 204
11.1.20 FIRST ENVIRONMENT INC. 205
11.1.20.1 Business overview 205
11.1.20.2 Products/Solutions/Services offered 205
11.2 OTHER PLAYERS 206
11.2.1 CENTER FOR RESOURCE SOLUTIONS 206
11.2.2 COTECNA 207
11.2.3 OUROFFSET NONPROFIT LLC 208
11.2.4 CARBON CREDIT CAPITAL, LLC 209
11.2.5 CONTROL UNION 210
12 APPENDIX 211
12.1 INSIGHTS FROM INDUSTRY EXPERTS 211
12.2 DISCUSSION GUIDE 212
12.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 215
12.4 CUSTOMIZATION OPTIONS 217
12.5 RELATED REPORTS 217
12.6 AUTHOR DETAILS 218