Trove has upgraded its projection model, and this quarter’s forecast now includes all valid projects across all registries tracked by Trove. Driven by a large increase in pipeline capacity in Q4 of 2022, forecasted peak issuances have increased by ~40% since the 3Q22 report to 900 MtCO2e/yr. By 2050, within recrediting and performance restrictions, total supply could stand at ~19,000 MtCO2e.
This report provides a quarterly update of corporate carbon credit demand, as well as future carbon credit demand forecasts based on corporate commitments and different demand drivers. Key takeaways: Both SBTi and self-declared net zero pillars have been updated to include new companies committing to SBTi’s standards and 29 major oil and gas companies that have made a net zero commitment (up from 11) in the last quarter. Offset usage for these two pillars has been adjusted to include an assumption that only a percentage of any firm’s Scope 3 emissions will be offset. Assumptions on hedged demand has ratcheted back from three…
This report presents Trove Research’s 4Q22 update on the use of carbon credits for fossil fuel product claims. Subscribers can analyse the identified transactions in more detail via our Trove Intelligence carbon neutral fuels interactive dashboard. The data and analysis behind this report are derived from company reports, public news sources, and our Trove Intelligence platform, which covers corporate climate commitments and the use of carbon credits.
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