The global carbon registry market was valued at USD 500 million in 2025. This market is expected to reach USD 3.7 billion by 2036, growing from USD 600 million in 2026, at a CAGR of 20.0% from 2026 to 2036.

Key Highlights – Carbon Registry Market

• The global carbon registry market is expected to reach USD 3.7 billion by 2036, at a CAGR of 20.0% from 2026 to 2036.
• North America accounts for the largest share of the global carbon registry market in 2026, holding around 35% of total revenue, driven by leading voluntary registries and compliance market infrastructure.
• Voluntary carbon registries account for the majority of market revenue in 2026, reflecting the scale of the voluntary carbon market and the dominance of a small number of programs.
• Registry services, including issuance, account management, transaction, and retirement, represent the largest offering segment, while registry technology and platforms are growing rapidly.
• The operationalization of Article 6 of the Paris Agreement, including the Paris Agreement Crediting Mechanism registry, is expanding demand for registry infrastructure among governments.
• Market integrity and interoperability initiatives, including the Climate Action Data Trust, are connecting registries to prevent double counting and improve transparency.
• The integration of digital MRV and the emergence of durable carbon removal and nature credits are expanding the scope and value of registry infrastructure.
• Registry revenue is generated through issuance and registration fees, account and holding fees, transaction and retirement fees, and levies.
• Asia-Pacific is projected to be the fastest-growing region, driven by new compliance markets and Article 6 participation.

Global Carbon Registry Market: Market Integrity, Article 6, and Digital Registry Infrastructure Drive Market Growth

The carbon registry market comprises the registries and registry technology that issue, serialize, track, transfer, and retire carbon credits, providing the system of record for carbon markets. It spans voluntary carbon registries operated by crediting programs, compliance and regulatory registries operated by governments and market bodies, and the registry technology and platforms that underpin them, generating revenue through issuance and registration fees, account and holding fees, transaction and retirement fees, and levies. Historically, registries were straightforward databases maintained by individual crediting programs and governments, with limited connectivity between systems. Today, concerns about market integrity and double counting, the operationalization of Article 6 of the Paris Agreement, and the integration of digital MRV are driving investment in more sophisticated, interconnected, and technology-enabled registry infrastructure. As the foundational layer that establishes the existence, ownership, and status of every credit, registries are becoming increasingly critical to the credibility and functioning of carbon markets.

Registries Form the Core System of Record for Carbon Markets

Registries are the essential infrastructure that establishes the integrity of carbon credits by issuing unique serial numbers, tracking ownership, and recording retirement to prevent double counting. Every credit transacted in voluntary or compliance markets is issued, held, transferred, and ultimately retired in a registry, making these systems the definitive record of market activity. The scale of this function is substantial: according to Verra, more than 1.3 billion credits have been issued under the Verified Carbon Standard, of which over 776 million have been retired. Registries generate revenue by charging issuance and registration fees, account and holding fees, and transaction and retirement fees, meaning that registry income grows with the volume of credits issued and transacted, tying registry economics directly to the expansion of carbon markets.

Article 6 Operationalization Expands the Registry Landscape

The operationalization of Article 6 of the Paris Agreement is creating a new layer of registry infrastructure and demand among governments. At COP29 in 2024, parties approved the standards needed to operationalize the Article 6.4 mechanism, now the Paris Agreement Crediting Mechanism, and the UNFCCC secretariat is developing its mechanism registry, with an interim registry intended to hold Article 6.4 emission reductions. Under Article 6.2, participating countries are establishing national registries capable of tracking internationally transferred mitigation outcomes and applying corresponding adjustments. This is driving demand for new government and international registries, connectivity between national and international systems, and registry technology, expanding the market beyond established voluntary programs to sovereign participants.

Market Integrity and Interoperability Drive Registry Infrastructure Investment

Concerns about double counting and transparency are driving investment in interoperability and connected registry infrastructure. Because credits are issued across multiple independent registries, the risk of the same reduction being counted more than once is a central integrity concern, and initiatives are emerging to connect registry data. The Climate Action Data Trust, a World Bank, IETA, and Singapore initiative, links major carbon registry data through a decentralized metadata platform, and as of 2025 had connected around a dozen registries covering an estimated 90% of global credit issuances. Alongside integrity frameworks such as the Core Carbon Principles, these initiatives are driving demand for standardized data, connectivity, and transparency infrastructure, creating opportunities for registry operators and technology providers.

Digital MRV Integration and Registry Modernization

The integration of digital MRV and the modernization of registry technology are transforming registries from static databases into dynamic, data-connected platforms. Registries are increasingly linked to digital measurement, reporting, and verification systems that support faster and more automated issuance, and some are adopting real-time data connections and application programming interfaces. Digital registry providers, including those using distributed ledger technology such as Toucan, Regen Network, and Riverse, are building programmable registry infrastructure, while established registries modernize their platforms. This modernization improves efficiency, transparency, and auditability, and expands the technology component of the market, creating demand for registry software and platform services alongside traditional registry operations.

New Credit Classes Broaden Registry Scope and Value

The emergence of durable carbon removals and nature credits is broadening the scope and value of registry infrastructure. Dedicated registries for engineered and durable carbon dioxide removal, including Isometric, Puro.earth, and Riverse, have developed specialized issuance and tracking systems for high-value removal credits, while biodiversity and nature credits are creating demand for new registry capabilities. These higher-value credit classes command premium issuance and require rigorous tracking, increasing the value of registry services per credit. As carbon markets diversify beyond avoidance credits toward removals and nature outcomes, registries that can support new credit types and methodologies are positioned to capture growing revenue.

Fee Models, Levies, and Registry Economics Shape Competition

Registry economics and fee structures are shaping competition and market growth. Registries earn revenue through issuance levies charged per credit, registration fees, account and holding fees, and transaction and retirement fees, while Article 6 introduces a share of proceeds and an adaptation levy on international transfers. As credit volumes grow and new credit classes command higher fees, registry revenue is expanding, attracting new entrants and driving competition among established programs, national registries, and technology providers. Consolidation, the entry of financial infrastructure providers, and the development of national registries are reshaping the competitive landscape, while the essential, trusted nature of registries supports durable, recurring revenue.

Market by Geography

North America Carbon Registry Market

North America is the largest regional market, accounting for approximately 35% of the global carbon registry market in 2026. The region hosts several of the world's leading voluntary carbon registries, including Verra, the American Carbon Registry, and the Climate Action Reserve, as well as compliance market infrastructure such as the tracking systems used by the Western Climate Initiative and California's cap-and-trade program. A large and active voluntary carbon market, a growing pipeline of removal and nature projects, and the presence of registry technology providers reinforce North America's position as the commercial core of the market. Continued growth in credit issuance and the development of new credit classes sustain demand for registry services and infrastructure.

Europe Carbon Registry Market

Europe accounts for around 27% of global carbon registry market revenue in 2026. The region hosts Gold Standard, one of the leading voluntary registries, and operates the European Union Emissions Trading System through the Union Registry, one of the world's largest compliance registries. The United Kingdom operates its own emissions trading registry, and European governments are participating actively in Article 6. Strong policy support for carbon market integrity and transparency, together with the presence of standards bodies and technology providers, drives demand for registry services and interoperability infrastructure across the region.

Asia-Pacific Carbon Registry Market

Asia-Pacific is projected to be the fastest-growing regional market during the forecast period, driven by the expansion of compliance carbon markets and Article 6 participation. China operates the world's largest emissions trading system by covered emissions, supported by national registry infrastructure, while India's Carbon Credit Trading Scheme, and emerging markets in Indonesia, Japan, and Southeast Asia, are establishing registries and trading systems. Many countries in the region are prominent hosts of Article 6 projects and are developing national registries to track internationally transferred mitigation outcomes. Rising credit issuance and government investment in registry infrastructure are expected to drive strong regional growth.

Latin America and Middle East & Africa Carbon Registry Market

Latin America is an important and growing region for carbon registries, hosting programs such as Cercarbono, BioCarbon Registry, and EcoRegistry, which have expanded rapidly alongside the region's large supply of nature-based and REDD+ projects. The Middle East & Africa region hosts the Global Carbon Council and is developing national registries and carbon market infrastructure, supported by Article 6 activity and growing project development. Both regions are increasingly significant sources of credit issuance and registry activity, attracting registry operators and technology providers seeking to support high-integrity carbon markets.

Competitive Landscape

The global carbon registry market is concentrated among a small number of leading voluntary registries and government-operated compliance registries, complemented by an expanding set of specialized and technology-enabled entrants. Competition spans established voluntary crediting programs, national and regional compliance registries, durable removal and nature registries, and registry technology providers. Participants compete on credibility and trust, methodology and credit coverage, transparency and interoperability, technology and automation, and fee structures. The essential, trusted role of registries creates significant incumbency advantages, while integrity concerns and new credit classes are opening opportunities for specialized and technology-driven entrants.

A key competitive trend is the modernization of registry infrastructure through digital MRV integration, interoperability initiatives, and distributed ledger technology, alongside the emergence of dedicated registries for durable removals and nature credits. Established registries are investing in technology and transparency, while new entrants compete on specialization and programmability. Interoperability initiatives such as the Climate Action Data Trust and the operationalization of Article 6 are reshaping the landscape, and partnerships among registries, standards bodies, governments, and technology providers are accelerating the development of connected registry infrastructure.

Key Players

The key companies operating in the global carbon registry market include:

• Verra
• Gold Standard
• American Carbon Registry (Winrock International)
• Climate Action Reserve
• Plan Vivo Foundation
• Cercarbono
• BioCarbon Registry
• EcoRegistry
• Global Carbon Council
• Puro.earth
• Isometric
• Riverse
• SocialCarbon
• Xpansiv (APX)
• S&P Global Commodity Insights
• Toucan Protocol
• Regen Network
• Flowcarbon
• Climate Action Data Trust
• European Commission (Union Registry)
• Western Climate Initiative, Inc.
• UNFCCC Article 6.4 Mechanism Registry