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.

By continuing, you are agreeing to the Relae Terms of Service and Privacy Policy. You will also join our mailing list for marketing updates.

Oops! Something went wrong while submitting the form.

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.

150
+
Companies supported by Relae, including Microsoft, Mitsubishi, and JPMorganChase
Authors
Nicole Egna
Climate Strategy Associate
As a Climate Strategy Associate, Nicole works with Relae’s clients to shape high-quality carbon removal strategies, blending deep environmental-science knowledge with data-driven carbon-market insight.
David Lluis Madrid
Climate Science and Markets Manager
David works with clients to advise them on carbon reduction and removal strategies that best meet their needs.
Read now

Get the Report

36 pages | 13 data visualizations | 288 million tonnes analyzed

‍