ClearBlue Markets：2026年自愿碳市场（VCM）质量与定价现状报告（英文版）（15页）.pdf

1、The State ofQuality and Pricingin the VCM:2026JANUARY 2026ContentsExecutive summary.3Good news:2025 was a breakout year for price discovery.4There is growing price differentiation between high and low quality credits.4Price discovery is progressing differently by project type.4Bad news:2025 was not

2、a breakout year for high credit integrity.7A slowly improving market,weighed down by“junk”credits.7Avoidance vs.removals:The misperception around quality continues.8ICVCM CCPs:A decent indicator of quality.9Looking forward:Building a market to last.11Calyx Globals 2026 roadmap:Top 5 things to improv

3、e market integrity.11Bringing back market confidence:No excuses.13Appendix.15About Calyx Global.15About ClearBlue Markets.15Copyright 2026 Calyx Global and ClearBlue Markets-2Executive summaryCalyx Global and ClearBlue Markets annual State of the Voluntary Carbon Market report tracks trends in carbo

4、n credit quality and pricing and makes recommendations to improve the market.In this years report,we found that the voluntary carbon market continues to steadily improve,but remains weighed down by a dark underbelly of junk credits.Crucially,we found that with a few small tweaks,market actors can dr

5、amatically improve the overall quality of the market.In other words,were still in the doldrums.But we dont have to be.Our report finds:1.The highest quality credits are now valued nearly 50%more than the lowest ones,up from 30%a year ago.This suggests buyers increasingly value quality.2.The average

6、quality of carbon credit retirements and issuances remains low,despite slight improvement this year.The average score of carbon credit issuances was 4.1/10 on the Calyx Carbon Integrity Index,up from 3.8/10 last year.The average score for carbon credit retirements this year was 3.3/10 on our index,u