The European Carbon Market: 2024 status overview EN

Since the start of this year, we have been talking to more than 300 sustainability managers, consultants and software providers on the state of the carbon accounting market. Our discussions addressed various topics related to carbon accounting, from the regulatory landscape to the prospects of AI. Those conversations form the basis for this report.

The goal of this report is to provide an overview of the European carbon accounting market in 2024. The report is aimed at sustainability managers, sustainability consultants and regulators.

The report focuses on corporate carbon accounting, i.e., quantifying the full carbon footprint of an organization for a given time period. Although some insights are applicable to sustainability reporting in general, no statements are made beyond carbon accounting. Carbon offsets and/or carbon mitigation measures are not addressed in this report. The geographical focus is the European Union. However, the majority of the insights are also applicable to the United Kingdom.

The report is structured along 7 insights. Each insight is backed up by data and visuals.

The EU carbon accounting market is growing, but the hockey stick growth still to come over the next 2 to 4 years.

• The EU carbon accounting market is growing from €1,4B in 2024 to €4,9B in 2028.
• Regulation (i.e., CSRD) is the main driver for (very) large enterprises, trickle-down-effect for SMEs.
• The carbon accounting sector needs to double capacity and double efficiency to follow market demand.

Companies, consultancies, software providers and auditors are preparing for the hockey stick growth in carbon accounting

• We distinguish 3 type of companies based on their carbon accounting needs: large caps, mid caps and small caps
• The number of carbon consultancies is growing with 17% per year and still relying on a classical consultancy business model
• Boom in carbon software providers in 2019-2022, today we see the first signs of consolidation but no clear winners yet
• We see a shift from green claims labels to third party assurance

Click this link to find the full report: Carbon+Alt+Delete – Status of the carbon accounting market 2024

About Carbon+Alt+Delete

We provide carbon accounting software for sustainability consultants and consultancies that guide companies towards net zero.

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