At the start of the year, ClearBlue Markets joined with Calyx Global to launch two new indices that provide a benchmark for quality and quality-price trends in the voluntary carbon market. Our findings and analysis to-date form a new mid-year report that we are pleased to share with you. Download: 5 VCM quality and pricing insights from the first half of 2025.
What have we learned so far this year?
Our findings indicate a promising direction for the VCM.
Key Insights from the report:
🔹 Stabilized Pricing Reflects GHG Integrity: VCM credit prices in June remained relatively steady. Tier 1 (T1) and Tier 2 (T2) credits saw modest declines (1.5% and 4.2% respectively), while Tier 3 (T3) credits experienced a slight uptick (1.3%). This suggests a consistent reflection of GHG integrity risk in pricing.
🔹 Substantial T1 Premium: The price premium for T1 credits remained significant, averaging 65% above T3 prices. This premium was supported by strong pricing for select afforestation and reforestation projects.
🔹 T2 Strength from Key Projects: T2 credits continued to price midway between T1 and T3, with strength driven in part by premiums for notable orphan well plugging projects.
🔹 Nature-based Solutions (NbS) Credit Premiums: T1 NbS credits have traded at a substantial premium to both T2 and T3 NbS credits, suggesting a growing alignment between market pricing and underlying credit quality.
Download our mid-year report to gain deeper insights from the Calyx Global & ClearBlue Markets Carbon Indices and inform your carbon credit strategy for the remainder of 2025. Explore the indices and access the original report, here.
Contact us if you have any questions about the data, or about ClearBlue's market intelligence services supporting VCM stakeholders and participants.