New Feature: Tracking Forward Forest Carbon Agreements

A common request that we receive at CDR.fyi is to bring the same level of transparency and clarity to nature-based solutions (NbS) that we provide to durable carbon removal.

To address that interest, we are launching an alpha version of nbs.CDR.fyi–the first public record tracking forward contracts and commitments for forest-based carbon credits. It includes over 59 million contracted tonnes and announced commitments for an additional 68.5 million tonnes since 2021, together valued at approximately $2.4 billion*.

The new platform sheds light on a rapidly expanding market that has remained largely invisible. While the voluntary carbon markets have been declining since 2021 according to Ecosystem Marketplace, forward commitments for forest-based carbon have been rapidly increasing.

Mirroring its dominant position in the durable carbon removal market, Microsoft leads corporate buyers with contracts for 29.4 million tonnes of forest carbon and announced commitments for an additional 21.8 million tonnes. The software giant joins a select group of Fortune 500 companies making multi-year, multi-million-dollar commitments to forest carbon restoration.

Although not directly comparable, available data suggests that the market for durable carbon removal is the highest value of the three separate voluntary carbon markets:

• Traditional VCM: 84 million credits transacted in 2024, valued at $535 million (few forward contracts are made for traditional credits, only in-year transaction data is available).
• Forest Carbon Credits: 34 million tonnes contracted, additional 67 million tonnes in announced commitments, since January 2024, in total valued at approximately $2 billion*.
• Durable CDR: future agreements of 22,5 million tonnes since 2024 valued at $4.8 billion.

nbs.cdr.fyi tracks two headline numbers: (1) contracted tonnes, which are binding offtakes for forest carbon credits, and (2) announced commitments, which are publicly disclosed maximum volumes in framework agreements and advance-market commitments **.

The publication of nbs.cdr.fyi maintains CDR.fyi's commitment to market clarity by distinguishing nature-based restoration from permanent carbon removal technologies. The nbs.cdr.fyi dataset exclusively tracks agreements that create new carbon storage in forests, excluding Improved Forest Management (IFM), due to their mixed carbon sequestration and avoidance characteristics, REDD+, and other avoided/reduced emissions credits.

Alex Rink, co-founder & CEO of CDR.fyi: "Until today, the forest carbon forward market has been a black box. Companies announce major deals, but the aggregate scale and trends have not been publicly tracked. We're bringing transparency to a market that's already much larger than many realize."

CDR.fyi co-founder, Robert Höglund: "Durable carbon removal remains the only proven solution for neutralizing ongoing fossil emissions long-term. This separate platform ensures stakeholders can distinguish between nature-based restoration with a risk of reversal and permanent removal technologies."

The database is in an alpha version, covering large publicly announced deals. CDR.fyi will update and maintain the record, and invite the wider climate community to submit deals to celebrate progress and increase market transparency.

* Using the average cost of $19.50 per tonne of afforestation credits as reported by Ecosystem Marketplace, although prices can differ significantly between project types, from $5 to 70/t.

** Announced commitments for example include Microsoft's 18m Rubicon framework agreement, the ProFloresta+ initiative expected to restore 15 million tonnes in Brazil, the 20m tonne Symbiosis coalition purchase target, and Apple’s 8.5m tonne Project Alpha.