Colombia sets the voluntary carbon standard

Andean country has become a leading destination for voluntary carbon credit investment, but challenges remain

Boasting rich natural resources, extensive conservation experience and strong potential to capture emissions across a wide range of forestry, agriculture and energy initiatives, Colombia today leads the global voluntary carbon market. According to research from the Latin American and Caribbean Carbon Market Initiative (ILACC), Latin America generated 28.3% of all carbon credits in 2024, the second highest of any region. By comparison, Colombia comprised 28.5% of the entire region and 8.1% of the global total. The nearest rival was Brazil, with a 25.6% share of carbon credits generated in Latin America and 7.2% globally. “According to ASOCARBONO, a key player in Colombia’s carbon market invol