DGB Group published its DGB Annual Report for 2022, showing the significant progress DGB made in 2022 with its high-quality carbon and biodiversity projects and DGB’s commitment towards a greener, more sustainable future. Read the message from our CEO below.
CEO Selwyn Duijvestijn and team, Sawa Afforestation Project, Cameroon, DGB.
I am thrilled to present the DGB Annual Report for 2022. It was a year that saw significant growth and transformation in the carbon market, particularly in the voluntary carbon market (VCM). It was an exciting year for DGB, and we made significant progress towards our mission of developing and operating high-quality, large-scale carbon and biodiversity projects.
The year 2022 was remarkable for the carbon project developer ecosystem, with increasing appreciation from corporate buyers and investors for the work of carbon project developers. We witnessed a record year for the number of funding announcements in verified carbon reduction projects, resulting in over $10 billion worth of investments across more than 65 deals, up from $7 billion in 2021. This +42% growth in funding for carbon credit generation will unlock the market's potential to scale the supply of credits.
I am optimistic about the future of carbon markets and believe that the market can overcome its current challenges. At DGB, we are committed to developing and operating high-quality, large-scale carbon and biodiversity projects accredited by leading verification standards, focusing on nature conservation and helping biodiversity flourish. We believe that by working together, we can create a more sustainable and resilient world for generations to come.
In 2022, developers and investors sent a clear message: If the projected demand for voluntary carbon offsets is to be met, the time to accelerate funding for carbon credit generation is now. This resulted in a higher level of competition for access to developers participating in the earlier stages of project development.
We saw many new local players enter the market and witnessed a wider movement of players from country-specific into global operators. Many new players entered the market, including aggregators using digital solutions to develop diversified carbon portfolios and more than 180 new developers expected to result in an estimated 100 million new carbon credits in annual issuances.
Nature-based solutions are essential to net-zero emissions strategies. Corporations worldwide are investing in protecting and restoring natural ecosystems to restore the natural world’s rich biodiversity and offer a medium-term solution for balancing emissions that cannot be immediately abated.
Where previous projections had shown a demand for credits starting to outstrip supply in 2024, data shows this may happen even earlier for some classes of credits. As the market continues to grow at an accelerated pace, it is increasingly necessary to grow transparently through high-quality credit grading. With our high-quality afforestation and reforestation carbon removal projects, DGB is perfectly positioned for significant growth in the carbon market.
As we move into 2023, we see the broader availability of financing options allowing experienced developers like ourselves to upsize their ambitions and execute expansion plans into new project types and adjacent regions. I am very optimistic about the future of the carbon market and DGB’s role therein.
I would like to thank our team at DGB, our investors, and all our stakeholders for their continued support and commitment to our mission. We look forward to a prosperous year ahead, where we can continue to make a positive impact on the planet and help biodiversity flourish.
— S A M Duijvestijn, CEO.
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