Introduction

The urgency of addressing climate change has led to the proliferation of carbon credit exchanges worldwide. These exchanges and wholesalers provide a platform for buying and selling carbon credits, enabling businesses and governments to offset their carbon emissions by investing in sustainable projects. In this article, we'll take a closer look at several key carbon credit exchanges around the world, providing information on their domains and the current price per tonne of CO2 offset.

The Top Carbon Credit & Offset Exchanges and Wholesalers

1. European Union Emissions Trading System (EU ETS)

Domain: https://ec.europa.eu/clima/policies/ets_en

Price per tonne: the price per tonne of CO2 in the EU ETS fluctuates but is around €40-80.

Purchase methodology: regular auctions

EU ETS covers more than just carbon credits, it includes the following greenhouse gases from specific activities, focusing on emissions that can be measured, reported and verified with a high level of accuracy: carbon dioxide (CO2), nitrous oxide (N2O) and perfluorocarbons (PFCs). Participation in the EU ETS is mandatory for companies in some sectors, only operators above a certain size are included - certain small installations may be excluded if governments put in alternative measures to cut their emissions.

28 countries EEA auction their allowances on a common auction platform, the European Energy Exchange (EEX) (see later) in Leipzig. Germany and Poland have opted-out of the common auctioning platform.

2. California Cap-and-Trade Program

Domain: https://ww2.arb.ca.gov/our-work/programs/cap-and-trade-program

Price per tonne: In California, carbon credit prices varied, but they are in the range of $16 to $20 per tonne of CO2 offset. Prices can fluctuate based on market conditions, demand and regulatory changes.

Purchase methodology: available through regular auctions

The Cap-and-Trade Program is a key element of California’s strategy to reduce greenhouse gas emissions. As part of California’s Cap-and-Trade Program and the Québec Cap-and-Trade System, the California Air Resources Board (CARB) and the Québec Ministère de l'Environnement, de la Lutte contre les changements climatiques, de la Faune et des Parcs (MELCCFP) hold joint GHG allowance auctions to allow market participants to acquire GHG allowances.

3. Regional Greenhouse Gas Initiative (RGGI)

Domain: https://www.rggi.org/

Price per tonne: RGGI states have seen carbon credit prices increase over the years. As of 2022, prices ranged from $6 to $8 per tonne, but they were expected to rise with the program's stricter emissions reduction targets.

Purchase methodology: quarterly, regional CO2 allowance auctions.

The Regional Greenhouse Gas Initiative (RGGI) is a cooperative, market-based effort among the states of Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, Vermont, and Virginia to cap and reduce CO2 emissions from the power sector. It represents the first cap-and-invest regional initiative implemented in the United States.

4. The Gold Standard

Domain: https://www.goldstandard.org/

Price per tonne: The Gold Standard operates a global platform for carbon credit projects. Prices vary widely depending on the project, its location, and the specific nature of the offset. Some projects have credits available for as low as $10 per tonne, with most between $20-50 per tonne or more.

Purchase methodology: available to buy online.

Gold Standard sets requirements to design projects for maximum positive impact in climate and development, and to measure and report outcomes in the most credible and efficient way. They sell carbon credits from projects they help to create and/or verify.

5. United Nations Framework Convention on Climate Change (UNFCCC) - Clean Development Mechanism (CDM)

Domain: https://cdm.unfccc.int/

Price per tonne: The CDM, under the UNFCCC, operates globally and provides carbon credits from projects in developing countries. Prices for CDM credits have varied over the years, ranging from a few dollars to upwards of $10 per tonne.

6. ACX

Domain: https://acx.net/

Prince per tonne: £varies

ACX Provides A Wide Range Of Environmental Products. ACX offers carbon and other environmental credits as tradable assets. Credits are held in a trust and for every credit deposited into the trust, a corresponding one tonne (aka a digital receipt), resides on the exchange.

ACX operates an exchange in Abu Dhabi and one in Singapore.

7. Carbon Trade Exchange (CTX)

Domain: https://ctxglobal.com/

Price per tonne: £varies. Plus, Annual membership starts at $595 for small companies, with a joining fee of £655; large companies $995 per annum with a joining fee of $1,000.

Carbon Trade eXchange (CTX) claims to be the world’s first digital carbon offsetting exchange for spot price, voluntary carbon credit trading.

8. Xpansive CBL

Domain: https://xpansiv.com/cbl/

Price per tonne: £varies

CBL is a global exchange platform for transacting energy and environmental commodity products such as carbon, renewable energy, water, and natural gas.

9. The European Energy Exchange (EEX) and Nodal Exchange in the US

Domain: European Energy Exchange (EEX) (US: Nodal Exchange)

Price per tonne: the price per tonne of CO2 in the EU ETS fluctuates but it is currently around €80 (see up to date carbon credit pricing at EEX).

Carbon Credits: Mandatory and Voluntary

The European Energy Exchange hosts the auctions for the mandatory EU Emissions Trading System (see above), as well as for Voluntary Carbon Credits and other environmental and commodity trading. The Voluntary Carbon Markets are listed at EEX Group’s US-based Nodal Exchange.

10. The Voluntary Climate Marketplace

Domain: https://www.thevcm.com/

Price per tonne: tbc

Carbon Credits: Mandatory and Voluntary

The Voluntary Climate Marketplace (TVCM) is an open, independent, trading venue for project developers, brokers, corporate and institutional buyers. TVCM is operated by IncubEx, who built the exchange-listed environmental products with Nodal Exchange and its parent EEX.

11. Woodland Carbon Code

Domain: https://woodlandcarboncode.org.uk/buy-carbon/how-to-buy

Price per tonne: £400 to join registry and then £10-20/tonne for Pending Issuance Units (PIUs)

The Woodland Carbon Code issues carbon units which represent measurable amounts of carbon dioxide (CO2) removed from the atmosphere by trees as they grow – one unit is 1 tonne of carbon dioxide equivalent removed from the atmosphere. As trees take a while to grow and sequester carbon dioxide, we have two types of unit available to purchase.  Companies can compensate for their UK-based emissions using carbon units from WCC projects, but not for their emissions overseas or emissions from international aviation or shipping.

12. Toucan Protocol

Domain: https://toucan.earth/

Price per tonne: tbc

This list wouldn’t be complete without at least one blockchain-based (distributed ledger technology) platform. We’ve selected Toucan Protocol - they enable the trading of tokenized environmental credits, aiming to grow the voluntary carbon market in a transparent and high-integrity way.

Conclusion

Carbon credit exchanges are a vital tool in the global effort to combat climate change. These platforms offer opportunities for companies and individuals to invest in carbon offset projects and reduce their carbon footprint. The prices per tonne of CO2 offset can fluctuate due to various factors, including market demand, regulatory changes, and the nature of the offset project.

Staying informed about these prices and participating in carbon credit trading can help accelerate the transition to a more sustainable and environmentally responsible future.

Please note that the prices mentioned here were correct as at Q4 2023 and they are subject to change over time. By including a registry on this list we are not promoting any of these exchanges or verifying the quality of the carbon credits that may be available to purchase through them. You must do your own research.

Last updated: 7 November 2023