BeZero Carbon Projects $100B Global Carbon Market In The Next Decade

BeZero Carbon Projects $100B Global Carbon Market In The Next Decade - Carbon Herald

New research from BeZero Carbon, a global carbon ratings agency, outlines the significant benefits of a $100 billion carbon market expected to emerge within the next decade.

This market could protect 150 million hectares (370 million acres) of land, an area comparable to Peru, and create or sustain 17 million jobs in sectors such as forestry and carbon removal, alongside supporting industries like insurance.

BeZero Carbon’s report, “$100bn for Planet and People,” highlights the environmental and economic impact of this burgeoning market, according to a company statement Tuesday.

It estimates that a $100bn carbon market could prevent or remove 1.2 billion tons of carbon dioxide equivalent (CO2e) from the atmosphere annually.

This would contribute 20% of the carbon removals needed to meet the 1.5°C climate target outlined in the Paris Agreement.

The market would also allocate substantial funds to protect and restore 150 million hectares of critical natural landscapes, bolstering biodiversity and safeguarding at-risk ecosystems.

Moreover, it would create or sustain 17 million jobs worldwide, a figure comparable to the projected growth of AI jobs by 2030.

Jobs would be generated in areas such as engineering, forestry, farming, and other burgeoning sectors, including carbon removal and adjacent industries like law, data science, and trading.

Relevant: BeZero Carbon Launches Innovative Regenerative Agriculture Credit System

BeZero estimates that the majority of these jobs—around 12.4 million—would be in forestry sectors like Reducing Emissions from Deforestation and forest Degradation (REDD+) and reforestation, with nearly 3 million in agriculture, 310,000 in renewables, and 50,000 in related industries.

The report suggests that the market could reach $100 billion sooner than anticipated, potentially by the mid-2030s, driven by increased demand and favorable regulatory changes.

To accelerate this growth, BeZero recommends integrating voluntary carbon credits into compliance schemes, setting internal carbon prices for businesses, and ensuring projects seek independent ratings for credibility.

According to Tommy Ricketts, CEO of BeZero Carbon, a project-based carbon market worth $100 billion is set to deliver immense benefits both for the planet and people, supporting more jobs than the oil and gas sector worldwide, while reducing the global carbon footprint.

Read more: Biden Administration Rolls Out Guidelines For Carbon Markets And Credits

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