Transactions of major voluntary carbon market contracts were collectively worth about USD 25 million in 2025, down 75% from USD 101 million in 2024. The average price of contracts tanked, but those of credits potentially eligible for compliance with an aviation sector emission reduction program rose over 2025. The number of credits taken out of circulation declined overall from previous years, although rates of retirements from certain registries and project types increased. Credit issuance also decreased by 8% from 2024, with 270 million credits issued primarily to projects related to forestry and land use.
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