Global Revenue for Environmental Certificate Market Estimated to Grow to Over $102 Billion by 2032
Market drivers include policy adoption and legislative obligations, stakeholder pressure, and advances in renewable energy technology
A new report from Guidehouse Insights explores the trends, drivers, and barriers that characterize the environmental certificate market, with a focus on the two main market segments—carbon certificates and energy attribute certificates (EACs)—and the different processes of procuring and selling them.
As concerns about the impact of global pollution grow, demand is increasing for organizations to demonstrate their commitment to sustainability. One way to do this is by obtaining environmental certificates, which are third-party-verified credentials that attest to an organization’s adherence to specific environmental standards. According to a new report from Guidehouse Insights, revenue attributed to environmental certificates is expected to increase from $37.8 billion in 2023 to $102.3 billion in 2032, at a compound annual growth rate (CAGR) of 11.7%.
“These certificates can cover a range of environmental issues, from energy and water efficiency to waste reduction and biodiversity preservation,” says David Gonzalez, research analyst with Guidehouse Insights. “In addition, issuance of these certificates can sometimes encourage growth in renewable energy development and support for projects that reduce greenhouse gas (GHG) emissions or remove carbon from the atmosphere.”
Overall, several drivers have contributed to the growth of the environmental certificate market in the last few years and are likely to continue to drive its expansion throughout the next decade. One key factor is increased awareness of the threat posed by GHG emissions and the need for organizations to take responsibility for their carbon footprint. Consumers and investors are becoming more environmentally conscious and are demanding that companies demonstrate their commitment to sustainability. In addition, many governments around the world have implemented regulations and incentives to encourage businesses to reduce their environmental impact, which has led to a rise in the adoption of environmental certification, according to the report.
The report, Environmental Certificates, explores the trends, drivers, and barriers that characterize the environmental certificate market, with a focus on the two main market segments—carbon certificates and energy attribute certificates (EACs)—and the different processes of procuring and selling them. An executive summary of the report is available for free download on the Guidehouse Insights website.
*The information contained in this press release concerning the report, Environmental Certificates, is a summary and reflects the current expectations of Guidehouse Insights based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Guidehouse Insights nor Guidehouse undertakes any obligation to update any of the information contained in this press release or the report.