Can Carbon Markets Finally Grow and Make a Difference?

Carbon markets have had a rough few years. Scandals in 2022 and 2023 shook people's trust, and the market has been struggling ever since. But there's hope that COP30 could be a turning point. New rules and oversight are being put in place to make carbon credits more reliable. The Integrity Council and stricter guidelines are trying to restore confidence. But these changes have a downside. Some projects, like forest conservation schemes, are now issuing 90% fewer credits per hectare. This makes it harder for them to be financially viable. Carbon credits are also severely underpriced. In the first quarter of 2025, they were selling for just $5. 30 per tonne. That's a big drop from previous years. Despite these challenges, there are signs of progress. Regulated carbon markets exist in 40 countries, and the aviation industry's CORSIA scheme is set to roll out by 2027. This could create a huge demand for carbon credits. But will these changes be enough? Some experts argue that carbon markets need to do more to address climate change. They say that protecting forests and other natural carbon sinks should be a priority. After all, if the forest is gone, it will take thousands of years to restore it. The future of carbon markets is uncertain. But with COP30 on the horizon, there's a chance to make them work better. The question is, will it be enough to make a real difference in the fight against climate change?