Research and Insights – download reports

Q3 2021 review of Voluntary Carbon Market transactions (October 2021)

In our Q3 2021 review of Voluntary Carbon Market (VCM) transactions we deliver key insights into the growth of the VCM and fundamental drivers. We consider the causes of the increasing surplus of VCM credits, and comment on the potential impact on prices.

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Q2 2021 review of Voluntary Carbon Market transactions (July 2021)

In our Q2 2021 review of Voluntary Carbon Market (VCM) transactions we deliver key insights into the growth of the VCM and fundamental drivers. We consider the causes of the increasing surplus of VCM credits, and comment on the potential impact on prices.

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Carbon Credit Demand, Supply and Prices – (June 2021)

This land-mark study, conducted in collaboration with UCL, produces the first analysis of the long term demand, supply and prices of carbon credits (carbon offsets) in the Voluntary Carbon Market.  The analysis models future demand for carbon credits from over 5000 companies using a range of forecasting approaches.  Future carbon credit supply uses satellite imagery, together with detailed spatial and economic modelling, to project the future costs of meeting this demand.  The analysis concludes that considerably higher prices are needed to incentivise a large-scale change in land-use away from agriculture towards preserving and restoring forests, and to invest in capturing and storing CO2 in the atmosphere.

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Q1 2021 review of Voluntary Carbon Market transactions (April 2021)

In our Q1 2021 review of Voluntary Carbon Market (VCM) transactions we deliver key insights into the growth rate of the VCM, its fundamental drivers, and what regions this growth is coming from. We consider the causes of the increasing surplus of VCM credits, and provide analysis on the expected short-term impact.

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Energy market scenarios of oil and gas companies – an analysis of the climate strategies and long-term scenarios of 14 international oil and gas companies – Main Report (April 2021)

This detailed report, conducted on behalf of the Swedish National Pension Fund, AP7, assesses the climate strategies of 14 International Oil Companies (IOCs), and analyses their long-term energy scenarios. The report recommends a consistent framework which IOCs can use to report to investors their views…

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Energy market scenarios of oil and gas companies – an analysis of the climate strategies and long-term scenarios of 14 international oil and gas companies – Non-technical summary (APRIL 2021)

This non-technical summary distilled from the main report, conducted on behalf of the Swedish National Pension Fund, AP7, assesses the climate strategies of 14 International Oil Companies (IOCs), and analyses their long-term energy scenarios. The report recommends a consistent framework which IOCs can use to…

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The Voluntary Carbon Market and Climate Ambition (March 2021)

This is the final report summarising the consultation process convened by Trove Research on the interaction between the Voluntary Carbon Market and national commitments under the Paris Agreement. The report follows the publication of an initial consultation document in December 2020, and three consultation workshops in Jan and Feb 2021. The document summarises opinions, analysis and provides suggestions for future work.

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Discussion paper on the use of Corresponding Adjustments for voluntary carbon credit transfers (Jan 2021)

This discussion document sets out a potential framework for assessing the contentious issues on the use of Corresponding Adjustments for voluntary carbon market transfers, and suggests a potential solution space. This document formed the basis of three global workshops on Corresponding Adjustments held by Trove Research in Q1 2021

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The Global Voluntary Carbon Market – Dealing with the problem of historic credits (Updated Jan 2021)

This report presents the most comprehensive analysis yet on the quality and quantity of credits currently available in the voluntary carbon market. The research highlights the problem of a large supply of poor quality older credits, and proposes three ways for managing the transition to a cleaner, higher quality market.

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High Ambition Markets Accelerator – HAMA (Dec 2020)

This report summarises the outcome of two global workshops held on December 9th and 10th 2020 with Civil Society and Corporate actors. The aim of the workshops was to understand whether a “High Ambition Demand Accelerator” initiative could fill the gap in driving high corporate ambition in the context of Net Zero commitments.  The workshops helped form a subsequent project, the “High Ambition Demand Accelerator” supported by BEIS and the Children’s Investment Fund Foundation. 

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Why Investors in Oil & Gas Should Not Fear a Pivot to Renewables – Comparison of Investment Returns (April 2020).

Investors worried about falling returns when oil companies commit to moving away from fossil fuels into renewable energy should fret less. The oil and gas industry is actually not that profitable and investors should gain by the switch to renewables.

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Sustainable Investing – Mind the Gap (Dec 2016)

This work by Trove Research presents one of the most comprehensive and detailed analyses of sustainable investing undertaken to date, covering multiple asset classes including listed equities, private equity, fixed income and direct investing in infrastructure.

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