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For five years, Forest Trends’ Ecosystem Marketplace and Bloomberg New Energy Finance have published the State of the Voluntary Carbon Markets Reports to shed light on trading volumes, credit prices, project types, locations, and the motivations of buyers in this market. Every year’s marketplace seems more complex than the one before, as actors continually refine their programs, businesses, and investments in search of a more perfect future – for their projects and the planet.

REDD accounted for 29% of all emissions reductions documented, thanks in part to new REDD methodologies published by the Verified Carbon Standard (VCS), which provided project guidance for creating a full third of all credits documented in 2010.