About This Article
Welcome to our monthly update on the voluntary carbon market. This month, we delve into the world of carbon credit retirements, highlighting significant activities and noteworthy trends we've observed in April 2025.
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Retirement Records For This Month
Let’s dive into records for this month!
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Please note that:
The dataset only includes records from the following voluntary carbon credit registries, which are publicly available on their website: American Carbon Registry (ACR), ART TREES (ART), Climate Action Reserve (CAR), Gold Standard (GLD), and Verra (VCS).
We have only included records where the retirement quantity is equal to or greater than 1,000 tonnes of CO2e.
The company assigned to each retirement record was determined based on the information present in each individual note.
Sector information is categorized in reference to the Global Industry Classification Standard (GICS) to align each entry with the most likely respective industry.
Key Takeaways
April 2025 saw continued robust activity in the voluntary carbon market, with several major players making significant retirements. Here are some highlights:
Netflix's Ongoing Commitment: The streaming giant, Netflix, Inc., was highly active again, retiring substantial volumes across multiple transactions. Notable retirements include over 250,000 tonnes from the VCS1408 Chyulu Hills REDD+ Project (Kenya, Vintages 2017 & 2019) and over 100,000 tonnes from the VCS1389 Acapa - Bajo Mira Y Frontera REDD+ Project (Colombia, Vintage 2019). They also retired nearly 80,000 tonnes from the VCS2250 Delta Blue Carbon – 1 project (Pakistan, Vintages 2019-2021). All retirements were noted as "Retired for the sole benefit of Netflix, Inc."
Lenovo's Client-Driven CO2 Offset Service: Tech company Lenovo made numerous large-scale retirements, totaling well over 300,000 tonnes, primarily from the CAR1480 Phlogiston Phase I project (US, GHG Management, Vintage 2022). The retirement notes consistently state, "On behalf of Lenovo Clients... Program Managed by Lenovo," indicating a significant carbon offset service offered to their customers.
4AIR Dominates Aviation Offsetting: 4AIR, a sustainability company focused on aviation, was exceptionally busy, retiring hundreds of thousands of credits on behalf of its clients. These retirements spanned a diverse range of projects and registries, including:
Over 170,000 tonnes from CAR1480 Phlogiston Phase I (US, GHG Management).
Over 100,000 tonnes from VCS1742 Hydroelectric Project in Himachal Pradesh (India, Vintage 2021).
Over 80,000 tonnes from VCS1851 Renewable Solar Power Project by ReNew Solar (India, Vintage 2023).
Significant volumes from VCS740 PrairieWinds ND1 (US Wind), VCS1753 Bundled Solar Photovoltaic Project by ACME (India), VCS1644 Larimar Wind Farm (Dominican Republic), and VCS1815 Renewable Solar Power Project by Adani (India).
This showcases a strong demand for carbon offsetting within the private and commercial aviation sectors facilitated by specialized providers.
Major Utilities and Corporations Drive Retirements:
NW Natural (US Utilities): Retired a massive 217,123 tonnes from the CAR400 South Jordan Landfill Gas Destruction Project (US, Vintage 2023) for its "Smart Energy program participants."
EnergyAustralia Pty Ltd (Australian Utilities): Made two very large retirements totaling 640,320 tonnes from the VCS2738 Reducing Gas Leakages project in Bangladesh (Vintages 2021 & 2022) to support its "Climate Active Carbon Neutral Standard CY2024."
"The Estee Lauder Companies, Inc." (US Consumer Staples): Retired 39,000 tonnes from the CAR1739 Restauración Forestal X-pichil project (Mexico, Vintage 2023) for their "Corporate Scope 1& 2 Emissions FY24."
Salesforce, Inc. (US Tech): Retired over 70,000 tonnes from the VCS2250 Delta Blue Carbon – 1 project (Pakistan, Vintage 2021) "on behalf of Salesforce, Inc."
Fleetcor (US & EU Financials): Continued its "Clean Advantage Customers Fleet Fuel Usage (Q1 2025)" program, retiring tens of thousands of credits from projects like VCS786 (Hyundai Steel, South Korea) and VCS934 (The Mai Ndombe REDD+, DR Congo).
Qantas Airways Ltd. (Australian Industrials): Retired over 25,000 tonnes from projects like VCS1122 (April Salumei REDD+, Papua New Guinea) and GLD11148 (Energy Efficient Stoves, Ethiopia) to meet obligations under the Climate Active Neutral Standard.
Climate Active Program Driving Australian Retirements: Many Australian companies, including Intrepid Group Limited, Loop Organics Pty Ltd, Hub Australia Pty Ltd, Western Sydney University (WSU), and Swinburne University of Technology, retired credits from various global projects specifically mentioning "Climate Active Certification" or "NCOS Programme" requirements. This highlights the influence of national carbon neutral standards.
Summary charts on amounts retired sorted by sector and country are below:
Amount retired in Apr. 2025 by sector and country
If you are a subscriber, you can find a complete list of retirement records with the project information for this month, as well as a chart of the top companies that retired the most credits, in the Google Spreadsheet at the bottom of this article.
Downloading and copy-pasting are disabled even for subscribers. If you want to download the file, please purchase Excel file from the link below:
The dataset includes:
General company information
Company Name (who most likely retired the credit based on the retirement note)
Country of the company
URL
Sector (GICS Code base)
Industry Group (GICS Code base)
Company Description
Retirement record
Project ID
Quantity
Retirement Account (CAR, ACR, ART) / Retirement Beneficiary (VCS, GLD)
Retirement Note
Retirement Reason
Transaction Date
Transaction Type
Vintage
Project information about the retired credit
Project Category
Project Country
Project's First Issuance
Project's First Retirement
Total Amount Issued
Project Name
Project URL
Project Proponent
Project protocol
Total Amount Retired
Status
Below is a link to the dataset for subscribers and top companies that retired credits.
Amount retired in Apr. 2025 by company
Stay Informed
The world of carbon credits is constantly evolving, so we'll continue to provide regular updates, insights and analysis as it happens.
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Disclaimer
The information provided in this carbon credit retirement database is intended for informational purposes only. While we strive to ensure the accuracy of the data, we cannot guarantee its completeness or correctness. The data is compiled from publicly available sources and may be subject to errors, omissions, or updates not yet reflected in our records.
No Warranty: The information provided is "as is" without any warranties, express or implied, including but not limited to the warranties of merchantability, fitness for a particular purpose, or non-infringement.
Reliance: Any reliance you place on the information provided is strictly at your own risk. We recommend that you verify the data from other reliable sources before making any decisions based on the content of this database.
Independent Judgment: Users should exercise their own independent judgment when interpreting and using the information in this database. We are not responsible for any actions, consequences, or losses that may result from your use of this data.
Interpretation of Data: The analysis presented in the newsletter is based on our independent assessment of available information, and may not align with the viewpoints of other parties.
Registry Scope: Note that the dataset is limited to the following voluntary carbon credit registries: American Carbon Registry (ACR), ART TREES (ART), Climate Action Reserve (CAR), Gold Standard (GLD), and Verra (VCS). Retirements from other registries are not included in this analysis.
Data Aggregation: The aggregation of data, including identification of retiring companies and classification of sector information, is based on our interpretation of available notes and alignment with GICS codes. These interpretations are based on our own discretion and may be subject to varying perspectives.
Limitation of Liability: In no event will we, our employees, or partners be liable for any direct, indirect, incidental, special, consequential, or punitive damages, including but not limited to, loss of profits, data, use, goodwill, or other intangible losses, resulting from your use or inability to use the data, even if we have been advised of the possibility of such damages.
Changes: The database and newsletter may be subject to updates, modifications, or removal at any time without prior notice. We will do our best to ensure accurate representation of current retirement data, but assume no obligation to update data after each publication.
By accessing or using the provided database and information, you agree to the terms of this disclaimer.