💶 👉 Market for consumer purchases of #carbonoffsets set to reach a staggering $115 billion by 2030

In the battle against #climatechange, consumers are increasingly wielding their purchasing power as an impactful tool for change.

A recent article from Deloitte provides fascinating insights on where we could be heading:

🇺🇸 Deloitte's analysis reveals that carbon-offset purchases could become ubiquitous in consumer decisions. 40% of US consumer spending on goods and services could incorporate an option to purchase carbon offsets. This surge in demand could lead to Americans spending around $21.3 billion annually on carbon offsets by 2030.

🌏 The potential impact is not limited to the US alone. If other developed economies mirror these consumer habits, the collective spending on carbon offsets could reach $115 billion, ushering in a new era of consumer-driven climate action.

➡ So how are various industries reacting to this?

🛩 The travel and tourism industry, airlines, hotels, and retail sectors are leading the way, embedding carbon offset options into their products and services.

👩‍💻 Using application programming interfaces (#APIs), businesses are quickly integrating carbon offset crediting into their web and mobile platforms, providing consumers with easy-to-use tools and calculate and off-set their purchase.

💵 Consumer awareness and new tools could bring new, much needed funding to carbon dioxide removal (#CDR) and climate projects more broadly that will help bridge the financial gap for net-zero.

I am a strong believer in the power of individuals to collectively finance the climate transition (alongside governments of course) and have written about it before (see here & here).

The numbers by Deloitte are massive and promising. I am particularly excited about the innovation of startups in the space who are trying to make the experience as seamless and fun as possible.

What do you think? Will we see this massive surge in individual offsetting? #climatetransition #offsetting Link to Deloitte article here.

Thanks Ricardo Martinez, Val Srinivas, and Jill Gregorie for the excellent analysis.

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