New Ecosystem Marketplace Price Transparency for UK Voluntary Carbon Market
2023 October 11 | Ecosystem Marketplace has today for the first time released voluntary carbon market prices for the United Kingdom’s domestic carbon units of Woodland Carbon Code and Peatland Code projects covering transactions in 2021, 2022, and in the partial year 2023.
The average price of woodland units has increased from £15 in 2021 to £25 in the first half of 2023. Peatland units were £24 in 2022.
Ecosystem Marketplace collated transaction data from project developers and resellers through our Global Carbon Markets Hub. In total, EM received over 680 recent (2021-2023) transactions, representing over 0.5 Million carbon credits, from project developers and retail aggregators.
We are grateful to market participants who have reported their sales to date and encourage all players to keep reporting sales prices through the Ecosystem Marketplace Global Carbon Markets Hub – interested market participants should contact EM directly to enroll ([email protected]) as well as Woodland Carbon Code: [email protected] and Peatland Code: [email protected].
We will publish updates to this data in 2024 and hope to be able to show any differences in price by type of project, location, co-benefits, type of unit, or first vs onward sales.
Ecosystem Marketplace’s UK Carbon Price Index
Woodland Carbon Code Unit Prices – Volume and Value
| 2021 | 2022 | 2023 ** Part Year | |
| Volume | 233,022 | 212,275 | 60,355 |
| Spread Price (Difference between highest and lowest reported price) | £27.76 | £33.20 | £37.50 |
| Volume Weighted Average Price per PIU – Nominal Terms (ie reported each year) | £14.93 | £19.13 | £25.36 |
| Volume Weighted Average Price per PIU – Real Terms (ie adjusted by inflation to 2022 prices) | £15.74 | £19.13 | £24.15 |
** Over 99% of units transacted were Pending Issuance Units. Spread Price is max minus min price. Volume Weighted Average is the ratio of the value of credits traded to the total volume traded during a given timeframe ([price x volume summed over all transactions] / total volume). Assumed 5% inflation from 2022 to 2023 based on Bank of England Base Rate in June 2023.
Peatland Code Unit Prices – Volume and Value
| 2021 | 2022 | 2023 ** Part Year | |
| Volume | — | 11,416 | — |
| Spread Price (Difference between highest and lowest reported price) | — | £25.00 | — |
| Volume Weighted Average Price per PIU – Nominal Terms (ie reported each year) | — | £23.95 | — |
| Volume Weighted Average Price per PIU – Real Terms (ie adjusted by inflation to 2022 prices) | — | £23.95 | — |
** 100% of Peatland Units transacted were Pending Issuance Units. Spread Price is max minus min price. Volume Weighted Average is the ratio of the value of credits traded to the total volume traded during a given timeframe ([price x volume summed over all transactions] / total volume). Insufficient data reported in 2021 and 2023 to date.
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This work was funded by the ‘Nature-based Solutions for Climate Change at Landscape Scale’ programme, sponsored by Defra and DESNZ.
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