Latin America Carbon Trading Market Size 2024-2030: EcoAct, ClimeCo, Climetrek, Terrapas, 3 Dgree
Latin America Carbon Trading Market Size 2024-2030: EcoAct, ClimeCo, Climetrek, Terrapas, 3 Dgree
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According to MarkNtel Advisors study the Latin America Carbon Trading Market is estimated to grow at a substantial CAGR during the forecast period, i.e., 2024-30.
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Key Findings of the Study: Latin America Carbon Trading market
Latin America Carbon Trading Market Driver
Regulatory Initiatives Driving Growth in the Latin American Carbon Trading Market – Regulatory initiatives are playing a pivotal role in shaping the Latin America Carbon Trading Market. Governments across the region are increasingly recognizing the urgent need to address climate change and reduce greenhouse gas emissions.
Due to this, they are implementing and strengthening regulations aimed at limiting emissions from various sectors, including energy, industry, and transportation. These regulations are creating a framework for emissions reduction and provide incentives for businesses & industries to actively participate in carbon trading. For instance:
- In 2023, the Rio de Janeiro city council introduced a fiscal incentive program aimed at drawing companies involved in the carbon credit industry to the city. This initiative offers substantial tax rebates of up to USD 12.3 million per year to companies that offset their emissions by utilizing carbon credits.
By setting emission reduction targets and incorporating carbon pricing mechanisms, governments are encouraging market players to adopt cleaner technologies and invest in emissions reduction projects. Due to this, companies are driven by both regulatory compliance & the financial benefits of trading carbon credits, which bodes well for the region's efforts to mitigate climate change while promoting sustainable economic growth.
Latin America Carbon Trading Market Challenge
Encounters of Offset Leakage in Forestry & Offset Projects to Hinder the Market – Forestry projects are susceptible to a phenomenon known as offset leakage, which presents challenges in accurately measuring and quantifying this phenomenon in both forestry and other offset projects. The quantification of leakage varies across different protocols, contributing to a lack of consensus on the validity of these projects. As a consequence, these projects have often resulted in a mere relocation of emissions, failing to achieve a net reduction in carbon emissions, thus impeding the Latin America Carbon Trading Market.
For more detailed information about the Latin America Carbon Trading market report, click here – https://www.marknteladvisors.com/research-library/latin-america-carbon-trading-market.html
Scope of the Report and Latin America Carbon Trading Market Segmentation:
By Source
- Forest
- Agriculture
- Carbon Capture and Storage
- Others
By Platform
- Compliance
- Voluntary
By System
- Cap & Trade
- Baseline & Credit
By End-User
- Oil & Gas
- Energy
- Utility
- Chemical
- Automotive
- Others
The Energy sector typically exhibits the highest demand for carbon trading.
Geographical Analysis:
By Country
- Brazil
- Argentina
- Mexico
- Rest of Latin America
Brazil’s vast and diverse economy encompasses agriculture, manufacturing, energy, and transportation, all of which contribute substantially to greenhouse gas emissions.
Note: If you require specific information not covered in the current report, we can provide it through customized option
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