New Data Shows Carbon Credit Quality is Rising and Prices Are Beginning to Reflect It
The voluntary carbon market (VCM) has faced intense scrutiny, but is it leading to real change? New data from carbon credit ratings agency Calyx Global and carbon markets consultancy ClearBlue Markets suggests the answer is yes.
Their newly released State of Quality and Pricing in the VCM report reveals how carbon credit integrity and pricing have evolved, using first-of-their-kind indices that provide a standardized view of market quality. These indices mark a critical step toward transparency, helping stakeholders track quality improvements and understand how the market values integrity.
New Indices Track Quality and Price Over Time
Calyx Carbon Integrity Index™ – Uses the most extensive dataset of project-level greenhouse gas integrity ratings to track the quality of issuances and retirements in the VCM.
Calyx-ClearBlue Carbon Price-Integrity Index™ – Aggregates 2,000 pricing data points from ClearBlue Markets and 800 integrity ratings from Calyx Global to show how credit pricing aligns with quality.
Key Findings
✅ Quality is improving. The Integrity Index for Issuances reached new highs in 2024, indicating a shift toward higher-quality credits. Retirements, a lagging indicator, have shown gradual improvement.
✅ High-quality credits now carry a premium. Until mid-2023, the highest-tier GHG-rated credits were undervalued. By Q3 2024, they began commanding a price premium, signalling that buyers
increasingly prioritize integrity over volume.
✅ Market transparency is evolving. These indices provide a standardized way to measure quality and price trends, giving buyers and project developers the tools to confidently navigate the market.
