Report
2026 State of the Voluntary Carbon Market
The voluntary carbon market risks stagnation. Download our 2026 analysis of demand, supply, and what buyers must do now.
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Carbon Removal Growth Gap: 2% Actual vs. 30% Needed
2025 was a year of hesitation.
2026 must be different, or the market will fail to deliver the gigatonne-scale CDR that climate goals require.
7%
Decrease: Credit retirements in the overall voluntary carbon market fell 7% in 2025 despite a 227% surge in climate commitments.
>80%
At risk: Most planned high-durability CDR capacity won't come online without additional offtake and financing commitments.
70%
Concentration: Microsoft accounts for 70% of all CDR offtakes announced to date. The market desperately needs diversification.
What's Inside
- Supply risk analysis: Why over 80% of high-durability CDR capacity is at risk of not being realized without additional offtake
- Demand forecasting: Three scenarios for what the market looks like by 2030
- Offtake strategies: Best practices for structuring bankable contracts
- Market data: Analysis of 288 million tonnes of credits across five major registries
- Capital gaps: Where the $18 billion financing shortage exists across CDR pathways
Why Relae
Relae is the trusted advisor in energy and climate, delivering scientifically rigorous, technically advanced, and commercially grounded solutions. Our scientists, engineers, and policy experts pair systems-level knowledge with project-level understanding to help clients achieve their energy and climate goals.
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Companies supported by Relae, including Microsoft, Mitsubishi, and JPMorganChase
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36 pages | 13 data visualizations | 288 million tonnes analyzed



