Carbon credit futures fall 90% as major buyer shun the market

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Due to doubts about the effectiveness of forest carbon offset, major carbon buyers such as airlines are beginning to avoid the trading market. This has led to a 90% collapse in carbon futures from their 2021 peak to the present, potentially hindering global carbon reduction efforts.

According to Nikkei Asia, the carbon futures on the Chicago Mercantile Exchange have plummeted due to anticipated weak demand for carbon credits with offset futures that cover airlines' emissions hitting a historical post-listing low in November.