The industry is powered by by the mushrooming GHG emissions, increasing count of corporations announcing net-zero commitments, and supplementing count of carbon offset programs.

The cap-and-trade category had the larger share of over 66% in 2023. It is a system that creates a "cap" on maximum emissions to decrease aggregate emissions from a group of emitters. 

Furthermore, it is mentioned to be a market-based method to lower total pollutant emissions and endorse corporate investment in fossil fuel alternates and energy competence.

A characteristic program starts by setting a "cap" on the whole amount of contaminants that can be released. The government grants the authority to produce contaminants through emissions documents by founding a supreme limit on emissions. An emissions allowance is a license to release pollutants; the cap limits the overall count of allowances. 

Browse detailed report - Carbon Credit Trading Platform Market Analysis and Demand Forecast Report

Europe led held the industry with a share, of 34%, in 2023. The ETS is a pillar of the EU's climate change strategy and its main strategy for lowering GHG emissions in an effective and lucrative manner. It was the first substantial carbon market in the world and will remain the largest in the future as well.

The growing GHG emissions all over the world have a lot to do with the increasing carbon credit platform demand. And, this trend will also continue in the years to come as well.