Carbon credit demand needs clearer demand-side rules and market infrastructure, says Columbia roundtable

A Columbia CGEP roundtable held during New York Climate Week 2026 looked at why project-based carbon credit demand has stalled even as supply-side integrity standards improve. Annual credit issuance in 2025 was about 40 percent below its 2021 peak. Buyers still face unclear rules on how credits can be used, what claims are allowed, and how credits are classified legally. The group said demand-side regulation and stronger market infrastructure are the missing pieces. Participants argued that voluntary corporate buying alone will not scale the market. More durable demand needs compliance schemes, Article 6 mechanisms, and clearer incentives for credit purchases. They also discussed regulated exchanges, cross-border trading, and the idea of treating carbon credits as regulated financial instruments. The full summary is available as a PDF from CGEP.