Ecosystem Marketplace is pleased to publish this 2023 report, All In On Climate: The Role of Carbon Credits in Corporate Climate Strategies, which serves as the first major update since 2016 to its landmark “Taking Stock” report series. When initially launched in 2015, the report illuminated for the first time the realities of how companies are (and are not) using carbon credits to address their climate liabilities and to contribute to their comprehensive climate action and management strategies. We’ve revisited this analysis because our global network of carbon markets stakeholders have lately reported to EM an increase in “greenhushing.” Whether in response to media coverage, environmental group criticism, or the challenges of navigating government policies (or all three), companies are publicly dialing back, delaying, or scrapping their carbon credit buying plans.
This report is designed to look specifically at the climate-related behavior of companies that are involved in the voluntary carbon market (VCM) versus those who are not. It should be noted that although we analyzed the data and wrote this report in in mid-2023, it has a retrospective lens and an eye on the future, as the CDP data used is from the 2022 Climate Change dataset, which mostly covers corporate activities in 2021.