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Bank of America: The carbon offset market will grow 50 times to meet 2050 net-zero emissions goals

The carbon offset market may grow by as much as 50 times if companies are going to meet their 2050 net zero greenhouse gas emissions goals, according to a new report from Bank of America.

In 2020, offsets issued in 2020 were equivalent to 210 million metric tons of carbon dioxide emissions to 0.4% of total global emissions, according to Bank of America.

Achieving net zero energy emissions by 2050 will demand approximately 7.6 gigatons of carbon dioxide offsets or removal, Bank of America said.

The carbon offset market may grow by as much as 50 times if companies are going to meet their 2050 net zero greenhouse gas emissions goals.

That's according to a new report from Bank of America, released to clients on Friday and more broadly on Monday, titled "Carbon offsets: volunteer hero for net zero."