Several important developments have been observed in voluntary carbon markets over the past 5 years and there is potential for future important changes. Demand has shifted from compliance with the Kyoto protocol and carbon credits generated through industry, waste and renewable energy projects to carbon credits from nature-based solutions demanded by unregulated companies and individuals. There is a chance that these trends will continue in the future, with air travel companies planning to offset their additional emissions and big companies making zero-carbon pledges. This additional demand might decrease the oversupply of credits and finally raise offset prices, making more expensive projects viable. Yet, such a positive outcome is far from certain, given the possible longer-term impacts of the current Covid-19 crisis and the structural need for further standardization in carbon crediting methodologies and accounting. 

Read the full report by RaboResearch to look at the development of voluntary carbon markets in recent years and gives an outlook with respect to their future development.