Research

Carbon-market integrity, in the data

We rate every project in the voluntary carbon market on a transparent, CCP-aligned scale. These reports are what the ratings reveal.

September 25, 2026 · 5 min read

Show Your Work

We went looking for the paperwork behind the market's biggest projects. Correction: the headline availability figure has been withdrawn; our automated search could not see the registries' own document records. The method, the correction and the re-run are set out here.

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September 11, 2026 · 6 min read

The Red Flags

We scanned every rated project for named integrity failures. Most of the market's risk is systemic, but a tail of projects carries specific, avoidable red flags.

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August 24, 2026 · 5 min read

The Phantom Market

A large share of rated projects have never issued a credit. The voluntary carbon market's pipeline is a major part of its universe, and it skews to the categories where integrity is hardest to establish.

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July 15, 2026 · 6 min read

The Registry Illusion

Buyers treat the certification logo as a quality signal. Across rated projects it isn't: average integrity varies widely by registry, and the ordering is not the one the market assumes.

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