Carbon credit prices in the voluntary market vary by an order of magnitude across project types, standards and vintages. A cookstove credit from 2019 may trade at £3-5/t. A Puro.earth biochar credit from 2025 may command £80-120/t. Modelling project revenue without understanding what drives this range leads to plans that work only under optimistic assumptions.
The five pricing drivers
1. Project type and permanence
Carbon dioxide removal credits (biochar, enhanced weathering, BECCS) command the highest prices because they represent actual atmospheric drawdown with long-term permanence. Avoidance credits (cookstoves, solar, forestry protection) are priced lower because they prevent future emissions rather than removing existing ones. Within each category, permanence evidence matters: biochar with H/Corg below 0.4 commands a premium over Class 3 material.
2. Standard and certification
Puro.earth credits trade at a significant premium to Verra VCS credits for the same project type, reflecting buyer confidence in the methodology and the CDR-focused buyer base. Gold Standard commands a premium over Verra for avoidance credits, particularly where SDG co-benefits are well documented. Plan Vivo credits trade at a discount due to lower buyer liquidity.
3. Vintage
Older credits (pre-2020) typically trade at a discount to current vintages. The market has become more quality-focused as corporate buyers face increasing scrutiny over their claims, and older credits from projects that have since been questioned carry reputational risk for buyers. The premium for current vintage has increased materially since 2022.
4. Co-benefits
Credits from projects with verified social, biodiversity or water co-benefits consistently trade at a premium over bare carbon credits. CCBS (Climate, Community and Biodiversity Standards) gold or platinum level certification can add £2-8/t depending on buyer appetite.
5. Volume and liquidity
Buyers purchasing large blocks (10,000+ credits) typically negotiate a discount to spot prices. Small-volume sales on secondary markets often achieve prices above the indicative range due to scarcity. Forward contracts for future vintages are typically priced below current spot.
Try the pricing tool
Use the full tool in The Carbon Workbench to save your model and connect into the project feasibility and verification cost tools.
Open full Credit Pricing ToolIndicative 2026 price ranges by project type
| Project type | Conservative | Base case | Premium |
|---|---|---|---|
| Biochar (Puro.earth) | £45/t | £70/t | £110/t |
| Biochar (Verra VM0044) | £18/t | £30/t | £50/t |
| Forestry ARR (Verra) | £8/t | £14/t | £22/t |
| Cookstoves (Gold Standard) | £4/t | £10/t | £18/t |
| Solar PV (Gold Standard) | £3/t | £7/t | £12/t |
| Safe water (Gold Standard) | £5/t | £12/t | £20/t |