1、The Next Frontier in Carbon Credits:ConsumersMarch 2023By Courtney Dong,Vikas Taneja,Lauren Taylor,Pascal Enohnyaket,Keeton Ross,Jenny Roy,and Brennan Spellacy2 THE NEXT FRONTIER IN CARBON CREDITS:CONSUMERSThe Next Frontier in Carbon Credits:ConsumersYet,achieving this goal will be no small feat.A c

2、ritical enabler will be going beyond the reduction of carbon emissions to the removal of existing carbon from the atmosphere.In line with the Science Based Targets initiative(SBTi)s Net-Zero Corporate Standard created to combat greenwashing,while companies need to take rapid action to achieve long-t

3、erm deep emissions cuts of 90%to 95%,they also need to neutralize any limited residual emissions that are not possible to cutthe final 5%to 10%through carbon removal.While carbon removal activity has been low historically,this needs to change.According to the latest report from the United Nations In

4、tergovernmental Panel on Climate Change(IPCC),there is now only a 40%to 60%chance of limiting the global temperature rise to 1.5C above pre-industrial levels by 2030.In addition to immediate and deep emissions cuts across all sectors,carbon removal at scale is essential in order to contain the likel

5、y overshoot and gradually bring emissions back down to 1.5C by 2100.And the contribution of carbon removal initiatives across both engineered and nature-based solutions must increase to 10 gigatonnes of CO2 removed per year by 2050.To finance carbon removal and avoidance,a growing number of companie

6、s are purchasing carbon credits in the voluntary carbon market(VCM).Organizations and individuals are able to purchase these credits via select growth-tech plat-forms to pay for“carbon offsetting”the act of applying the credits against an internal accounting of carbon dioxide equivalent(CO2e)emissio

7、ns to compensate for those emissions with the removal or avoidance of other CO2e emissions through activities such as reforestation,the reduction of methane emissions,and avoided deforestation.Some companies purchase carbon credits through the VCM but do not use them to offset emissions,instead usin

8、g these purchases as a way to make a broader contribution to climate change mitigation.(See“What Are Carbon Credits?”)Given the magnitude of change that must happen for the world to get back to 1.5C by 2100,all climate efforts are important right now.While governments and industry must take bold act

9、ion,consumers must also act.Al-though what consumers have been doing to date,such as recycling,purchasing energy-efficient appliances,and reducing air travel,is helpful,it is not enough.Consumer adoption of carbon credits is a significant opportunity,and we are already starting to see seeds of momen

10、tum in the market.A recent survey by BCG found that once carbon credits were explained,38%of a representative sample of US consumers were interested in purchasing credits in the near future.Early Consumer Adoption Is Beginning but Greater Transparency Is NeededTo delve into the motivations and minds

11、ets surrounding US consumers purchase of carbon credits,BCG worked with the climate technology company Patch to survey a full panel of 1,320 consumers.This group included a representative sample of the US population,current buyers of carbon credits,and potential buyers of carbon credits.(See“Our Met

12、hodology.”)Its no secret that climate change is a tremendous threat to the future of the planet.The world needs to reach net-zero emissions by 2050 to meet the global temperature reductions outlined in the Paris Agreement.Happily,some progress is being made toward net zero on the business side,with

13、about 33%of the worlds largest companies(and more than 50%of its countries)pledging to reach net zero between 2030 and 2050,and many more stating a clear desire to decrease their carbon footprint.One carbon credit represents one ton of carbon dioxide equivalent(CO2e)removed or avoided.When businesse

14、s or individuals voluntarily purchase carbon credits to apply toward a measured,specific carbon emissions footprint,also referred to as“carbon offsetting,”a project developer will use that money to remove or avoid CO2e emissions through activities such as reforestation,avoided deforestation,the redu

15、ction of methane emissions,or catalyzing engineered carbon removal directly from the atmosphere.Although avoidance credits(for external projects that avoid emissions production)currently account for about 80%of supply,our analysis projects that removal credits(for proj-ects that lower existing emiss

16、ions)will reach 35%by 2030.When individual consumers purchase credits,they are likely to go through a technology partner owing to the lack of direct consumer access to carbon credit projects,capabili-ties,and resources.It is critical that these credits support high-quality climate projects,with each

17、 credit being equiva-lent to the impact of one additional ton of CO2e being per-manently removed or mitigated from the atmosphere.Given the importance of trust and transparency in the market,all projects should also be scientifically reviewed by third par-ties,audited(with verified impact),and have

18、a registry or tracking system for credits generated.In addition,there should be third-party assessments to verify factors such as permanence(how long the CO2 remains stored),leakage(when a company with strict regulations moves production to a company with more lenient regulations),and risk of revers

19、al(re-release of stored carbon).Examples of third parties that have created standards(such as guidance on measurement,reporting,and verification to assess the integrity and quality of carbon credits in the voluntary carbon market)include Gold Standard and Verra.Further,there are multistakeholder gov

20、ernance bodies,such as the Voluntary Carbon Markets Integrity Initiative(VCMI)and the Taskforce on Scaling Voluntary Carbon Markets(TSVCM),that were created to drive credible,net-zero-aligned participation in the voluntary carbon market.Note that CO2e is a metric used for different types of greenhou

21、se gas(GHG)emissions that allows us to com-pare them in terms of their impact on the climate.Meth-ane,for example,has 25 to 80 times more impact on global warming than CO2 and thus generates 25 to 80 times the emissions that CO2 generates.When we discuss carbon in this publication,we are broadly ref

22、erring to CO2e.What Are Carbon Credits?AwareConsiderPurchaseFrequently purchase34%19%3%2%Were familiar with carbon offset credits1Consumers who:Were open to purchasing carbon offset credits in the near future2Had purchased carbon offset creditsPurchased carbon offset credits on a regular basis Exhib

23、it 1-There Are Tremendous Opportunities to Increase Awareness of and Education About Carbon CreditsSources:2022 BCG-Patch Survey of US Consumers;BCG analysis.Note:Responses from a sample of 503 US consumers controlled to ensure that demographics were proportionate to the US population.1Consumers who

24、 ranked 4 or 5 on a 1-to-5 familiarity scale.2Consumers who ranked 7 on a 1-to-7 likelihood scale.4 THE NEXT FRONTIER IN CARBON CREDITS:CONSUMERSWe found that 34%of respondents in the representative sample were familiar with carbon credits,19%were open to purchasing credits within the next two years

25、,3%had purchased credits in the past,and 2%purchase credits on a regular basis.These findings suggest there is substantial room for growth in the voluntary market for carbon credits through increased consumer awareness.(See Exhibit 1.)Relatively low adoption rates thus far could have a wide variety

26、of causes.These include low consumer awareness of carbon credits,the perceived complexity of climate solutions,a poor understanding of the magnitude of action required to mitigate climate changeand the role of car-bon credits in this effortand a fear by businesses of disrupting existing consumer-pur

27、chasing flows.In addition,many consumers want more information.They are interested in learning about the carbon footprint of their everyday purchases,seeing evidence that carbon credits are an effective tool to mitigate these emissions,and obtaining details about the specific projects they would be

28、supporting.In fact,with incidents of greenwashing and increasing scrutiny of the voluntary carbon credit market,it is more essential than ever that consumers have access to information regarding the projects they supportincluding the quality of these projects,often measured by their permanence;their

29、 traceability;and the prevention of emissions“leakage,”meaning any associated rise in emissions.Ultimately,factors such as transparency regarding the emissions impact of purchased items and related carbon projects would support greater consumer adoption of carbon credits.(See Exhibit 2.)In contrast

30、to the low adoption rates,consumer sentiment toward offsetting was significantly positive in our survey.Of respondents who were somewhat familiar with carbon credits(250 of those in our representative sample),58%believed that carbon credits can encourage more sustainable behavior.The Spectrum of Pot

31、ential Purchasers Extends Beyond Early AdoptersTo develop a deeper understanding of consumer perception and adoption of carbon credits,we disaggregated our survey population into five distinct segments:early adopters,potential early purchasers,potential late purchasers,remaining potential purchasers

32、,and those unlikely to purchase.(See Exhibit 3.)Sources:2022 BCG-Patch Survey of US Consumers;BCG analysis.1N=386(those familiar to some extent with carbon offset credits)of a representative sample of 503 US consumers.The sample was controlled to ensure that the demographics were proportionate to th

33、e US population as a whole.Exhibit 2-Transparency Is Key to Consumer Adoption of Carbon Footprint OffsettingIf I had more transparency on the amount of carbon emissions that the product I purchased generated172220Respondents1(%)171922If I saw more proof that offsetting my carbon footprint through th

34、e purchase of carbon offset credits would make a real difference in reversing climate changeIf I had more transparency on the specific carbon credit projects that I would be contributing to151720If I saw that offsetting my carbon footprint was a commonaction by other customers or my friends and fami

35、ly 81112Question:Which of the following is most likely to increase the likelihood that you will offset your carbon footprint in the next two years?Rank 1Rank 2Rank 3If the price to offset my carbon footprint were lower221415If the offsetting process were easy and seamless211811BOSTON CONSULTING GROU

36、P +PATCH 5We surveyed approximately 1,320 people aged 16 to 64the“full panel”across the US during August and Sep-tember 2022 about a variety of topics,including their awareness,adoption,and perception of carbon credits;intent to purchase credits and any barriers to purchasing;willingness to pay;pote

37、ntial motivators;perception of the carbon intensity of different industries;and factors that would make them more likely to purchase carbon credits.This full panel included a representative sample of 503 US consumers,some of whom were actual or potential pur-chasers of carbon credits,and a second gr

38、oup of 817,surveyed to add more actual and potential purchasers of carbon credits to the study.The final survey total com-prised 239 purchasers of carbon credits at some point in the past,1,001 potential purchasers,and 80 people who had not purchased and said they had no plans to purchase.We further

39、 segmented the group of potential purchasers into three subsegments:116“potential early purchasers,”188“potential late purchasers,”and another 697 who might buy credits someday.Our MethodologySources:2022 BCG-Patch Survey of US Consumers;BCG analysis.1All groups here are shown as a percentage of the

40、 representative sample of 503 US consumers,controlled to ensure that the demographics were proportionate to the US population as a whole.2The segment in question skewed toward a particular characteristic.Exhibit 3-A Quarter of the Respondents Were Extremely or Very Interested in Purchasing CreditsSe

41、gment definitionEarly adopters(3%)Potential earlypurchasers(10%)Potential latepurchasers(15%)Remaining potentialpurchasers(56%)Unlikely purchasers(16%)Reported paying more to promote sustainability and had purchased carbon offset credits in the past two years 30s,40s$125150K annual income College,gr

42、aduate,or professional degree Majority maleReported paying more to promote sustainability;OR were extremely interested in buying credits,very aware of their carbon footprint,and engaged in some form of carbon offsetting(e.g.,paid extra for ecofriendly shipping)Reported paying more to promote sustain

43、ability;OR were very interested in buying credits,somewhat aware of their carbon footprint,and engaged in some form of carbon offsetting(e.g.,paid extra for ecofriendly shipping)Reported paying more to promote sustainability or participated in sustainabili-ty initiatives;OR interested in buying cred

44、its;OR at least sometimes engaged in at least two sustainabili-ty initiatives in the past(e.g.,recycling,reducing plastic use)30s$100200K annual income Graduate or professional degree Majority male 20s,30s College graduate Majority femaleReported no interest in sustainable options and did not engage

45、 in any sustainability initiatives,making its members unlikely to purchase credits in the near futurePurchasers(3%)1Potential purchasers(81%)Profile over-index26 THE NEXT FRONTIER IN CARBON CREDITS:CONSUMERSEarly Adopters(3%of the Representative Sample).We defined early adopters as US consumers who

46、have bought carbon credits in the past two years.As a group,they said that they were willing to pay more for sustainable options,were familiar with different carbon projects,and would change their shopping behavior significantlysuch as by switching to a new,similar brandif they were offered the opti

47、on of purchasing carbon credits to offset their purchase.Members of this group were largely urban,millennial,well-educated,tech-savvy males with higher incomes and greater awareness of their carbon footprint compared with other survey segments.Note that once individuals have purchased credits,they t

48、end to do so again,so many in this group were repeat purchasers.Potential Early Purchasers(10%).This segment com-prised consumers who had not yet purchased carbon credits but seemed likely to do so in the next two years.These respondents said they were willing to pay more for sustain-able options,ex

49、tremely interested in buying credits,and very aware of their carbon footprint.This group was demographi-cally similar to the early-adopter segment.While a lack of knowledge was the main barrier to purchasing for consumers in other segments,that was not generally the case for this group:76%were aware

50、 that they could offset their carbon footprint,but almost half believed that compa-nies,not consumers,should be responsible for decarbonizing.In addition,close to 40%of these respondents thought that companies should absorb the full cost of their carbon emis-sions.These findings indicate that creati

51、ng transparency regarding corporate climate efforts already underway might persuade these consumers to take part as well.Furthermore,potential early purchasers ranked transparen-cy very highly,with a majority saying they would be more likely to buy credits if they had increased transparency regardin

52、g the specific carbon credit projects that they would be contributing to,greater transparency on the amount of carbon emissions generated by the product they purchased,or more proof that offsetting their carbon footprint through the purchase of carbon credits would make a real difference.Potential L

53、ater Purchasers(15%).The members of this group were those who,while they had not yet purchased credits,said they were interested in buying credits and were willing to pay more for sustainable options.But they were generally less aware of their carbon footprint and the type of carbon credit projects

54、available than the earlier two groups wereand less enthusiastic about purchasing credits.In terms of demographics,they were split 50/50 male and female,were 52%urban,and 56%had an advanced degree.While 79%of potential later purchasers understood how carbon offsetting works,a smaller percentage(66%)w

55、ere aware that they could offset their carbon footprint,with 58%ranking“more transparency on the specific carbon credit projects”in the top three ways to increase the likelihood that they would buy credits.Educating this segment could play a powerful rolemore so than in the earlier,already well-info

56、rmed groups.Remaining Potential Purchasers(56%).The members of this segment indicated they were willing to pay more for sustainable options,had shown some interest in buying credits,or had acted on two sustainability initiatives,such as recycling.Only 20%of the remaining potential purchas-ers were f

57、amiliar with carbon credits,but 49%were inter-ested in them;when asked to identify the main barriers to purchasing them,42%cited a lack of understanding of the credits and 30%indicated a lack of transparency on the impact of the credits.In terms of demographics,many were in their early 40s,females s

58、lightly outnumbered males,and most held college degrees.Educating these remaining potential purchasers about carbon credits could go a long way to increasing adoption among this segment.Unlikely Purchasers(16%).The final group of respon-dents had not shown any interest in sustainable options or prac

59、ticed sustainability initiatives,making the members unlikely to purchase credits.For the purposes of this re-port,we have not closely analyzed this group.Consumers Are Open to Switching Brands if Offsetting Is AvailableWhen asked to estimate the carbon intensity of different industries,many responde

60、nts(20%)said they consider airlines to be the most carbon intensive,while 16%pointed to car travel and 15%to power and utilities.In contrast,the fewest consumers(8%)ranked streaming and enter-tainment as the most carbon-intensive industry.Regardless of whether these perceptions are correct,our surve

61、y found that these rankings were somewhat correlat-ed to what consumers said about their willingness to switch brands if it meant they could offset their purchase.For example,once carbon credits were explained to them,69%of the representative sample and 71%of the potential early-purchaser segment sa

62、id that they would be likely or very likely to switch train operators if it meant they could offset their carbon emissions.Air travel and household goods were the other top categories in which consumers were willing to switch brands.BOSTON CONSULTING GROUP +PATCH 7But we also note a general receptiv

63、eness to switching brands across nearly every category if consumers can offset their carbon emissions,particularly among respon-dents in the early-adopter and potential early-purchaser groups of the full panel.(See Exhibit 4.)The Amount Consumers Are Willing to Pay Is Correlated More with Price Than

64、 Offset CostWithin our survey,we conducted a Van Westendorp price-sensitivity analysis,a price-testing approach that measures how sensitive consumers are to price and derives the accept-able price range for a particular product by asking them to evaluate four price points.(See the slideshow.)With th

65、e full survey panel,our analysis looked at consumer-pricing preferences for three different productsan every-day fashion item($50 jeans),luxury item($250 jeans),and travel service($250 flight).We also provided respondents with the estimated cost to offset the carbon generated by each of the products

66、 with high-quality credits.We used the following assumptions regarding the price per ton of carbon credits:$50 for the inexpensive jeans,$100 for the expen-sive jeans,and$50 for the flight.Sources:2022 BCG-Patch Survey of US Consumers;BCG analysis.Note:N=503 US consumers.The sample was controlled to

67、 ensure that the demographics were proportionate to the US population as a whole.1Includes remaining potential purchasers and unlikely purchasers.Exhibit 4-Consumers Stated a Stronger Willingness to Switch Brands in Some Categories Than in Others if Carbon Offsetting Were Available Question:If a sel

68、ler of equal convenience,price,and quality offered an ability to offset your carbon footprint,how likely would you be to switchto this new brand from your preferred brand?Decreasing overall statedwillingness to switch brandsRepresentativesampleEarlyadoptersPotential earlypurchasersPotential latepurc

69、hasersRemainingpopulation1Train travelAir travelHousehold goodsFashion and luxury itemsInvestment accountsRideshare serviceInsuranceLodgingFood and beveragesCredit cards and debit cardsHealth care productsBank accountsLower stated willingness to switchHigher stated willingness to switchCryptocurrenc

70、iesTransparency is key to increasing consumer adoption of carbon credits.BOSTON CONSULTING GROUP +PATCH 9In the process,we discovered that consumer willingness to pay was not consistently driven by the actual cost to offset a given products carbon emissions.Across all price points and categories tes

71、ted,the willingness to pay for carbon credits hovered around$1 to$7 for the average US consumer,showing a general threshold above which consumers seemed unwilling to contribute,irrespective of the purchase.When we looked at the representative sample of 503 respondents,for instance,we saw that the av

72、erage stated willingness to pay for carbon credits was largely proportion-ate to the actual cost to offset emissions for the jeans(up to 4%of the total cost).But for an airline flight,which had a much higher proportionate cost to offset its emissions(about 12%of the total product price),the stated c

73、onsumer willingness to payalthough higher than for the jeanswas still well below the cost to offset.Clearly,some categories present more promising opportunities for consumer offsetting than others.Perhaps unsurprisingly,we also found that the most engaged groupsearly adopters and potential early pur

74、chasersstated a considerably higher willingness to pay across products and product price points,sometimes as high as ten times that of the representative sample.While their interest in sustainability was clearly a factor,demographics(including more free income)may have helped as well.In viewing the

75、findings from a generational perspective,we note that millennials stated a considerably higher willingness than other generational segments to pay for carbon credits when purchasing everyday apparel,luxury apparel,and airfare.Companies Must Bridge the Gap to Consumer ActionTo accelerate consumer act

76、ion with carbon offsetting,the carbon credit market needs the support of consumer-facing businesses.Even when consumers have the intention to help address climate change through carbon credits,they may not always act.This gap between intention and action is a well-known challenge in the climate sect

77、or.Businesses can help by offering low-friction ways for consumers to access reputable credits in the purchasing journey.For example,companies can partner with third parties to provide an option to buy credits during or after the core purchasing journey.They should also enable consumers to choose wh

78、ich climate project to support from a specified list.We found in our study that this choice increased the likelihood that the consumer would buy credits by 23%.Offering choice will be fundamental to boosting adoption overall,particularly among potential later purchasers and remaining potential purch

79、asers.Further,we found that giving consumers a choice of projects had an added benefit:for 73%of the respondents in our representative panel,the ability to select the carbon credit project at checkout had a positive impact on the perceived trustworthiness of the company providing the option.Business

80、es could create even more seamless ways for consumers to contribute to climate action by offering an auto-payment option;in fact,70%to 80%of purchasers and potential early purchasers in our study said they would agree to having an auto-payment setting to offset carbon at checkout.Companies should al

81、so provide education and transparency.They must be as clear as possible about the nature of the projects being supported,the process for supporting them,and the amount of carbon mitigatedfor example,by showing each purchases carbon footprint at checkoutbecause this can be a meaningful step toward tu

82、rning consumers into carbon credit purchasers.Furthermore,giving consumers information about the geographic area of impact may help tip the scales in favor of purchasing;our study found that consumers were more likely to say they were willing to purchase credits when they learned that the project wa

83、s in close proximity to their community.As these businesses enable consumer climate action,it is also critical that they employ science-based strategies to mitigate greenwashing and other risks.There are already high-profile examples of companies being criticized,and sometimes sued,over inaccurate c

84、laims that overstated climate impact.If companies do not employ high-integrity strategies,there is a second-order risk of creating a“moral hazard”whereby consumers do not believe they have impact and therefore take no action to mitigate emissions.Businesses will need to address this and other import

85、ant questions,such as how to educate consumers sufficiently about the impact and integrity of carbon projects,whether to predetermine project selection in order to ensure the integrity of carbon credits,and if a business should offer consumers an opportunity to contribute to climate action projects

86、without an associated“offset”in the companys carbon accounting.Finally,organizations should act as role models and give consumers the confidence that their businesses are walking the walk,not just talking the talk.Companies need to contribute to climate action alongside their customers,particularly

87、given that so many potential early purchasers believe that companies should be the party responsible for absorbing the full cost of their carbon emissions.Such actions will bolster organizations trustworthiness and increase the likelihood that their consumers will purchase credits.10 THE NEXT FRONTI

88、ER IN CARBON CREDITS:CONSUMERSSlideshow 1-The Amount Consumers Are Willing to Pay Is Correlated More with Item Cost Than Item FootprintSources:2022 BCG-Patch Survey of US Consumers(N=452);BCG analysis.Note:The assumed price per ton of carbon offset credits is$50 for inexpensive jeans and a flight;th

89、e assumed price per ton is$100 for luxury jeans.The“price point of marginal cheapness”is the price at which,if an item is priced lower,it will be perceived as too cheap or of low quality.Conversely,the“price point of marginal expensiveness”is the price at which,if an item is priced higher,it will be

90、 perceived as“too expensive.”The“indifference price point”is the price at which the same percentage of respondents feel that the product is getting expensive as those who feel it is a bargain.The“optimal price point”is the price at which the same percentage of respondents feel that the product is to

91、o expensive as those who feel it is too cheap.BWillingness to payWillingness to payWillingness to payPrice point of marginal cheapnessAPrice point of marginal expensivenessBIndifference price pointCOptimal price pointDQuestion:Assume you are buying this item and are given the option to purchase a ca

92、rbon offset credit to compensate for your carbon footprintfrom this purchase;at what price do you find the product or service(a)so low that you start to question its quality,(b)a bargain,(c)expensivebut acceptable,and(d)too expensive to buy?(Assumes$50$100 price per ton of carbon credit.)$2|0.04 ton

93、s CO2e$4|0.04 tons CO2e$30|0.6 tons CO2e$250 jeans$50 jeans$250 flightActual cost to offsetActual cost to offsetActual cost to offset$12 or 2.04.0%of item price$35 or 1.22.0%of item price$47 or 1.62.8%of item priceACDBACDBACDBOSTON CONSULTING GROUP +PATCH 11Slideshow 2-Consumers Are Willing to Spend

94、 from$1 to$2 on Carbon Credits for$50 JeansSlideshow 3-Consumers Are Willing to Spend from$3 to$5 on Carbon Credits for$250 JeansSources:2022 BCG-Patch Survey of US Consumers(N=452);BCG analysis.Note:The assumed price per ton of carbon offset credits is$50 for inexpensive jeans.The“price point of ma

95、rginal cheapness”is the price at which,if an item is priced lower,it will be perceived as too cheap or of low quality.Conversely,the“price point of marginal expensiveness”is the price at which,if an item is priced higher,it will be perceived as“too expensive.”The“indifference price point”is the pric

96、e at which the same percentage of respondents feel that the product is getting expensive as those who feel it is a bargain.The“optimal price point”is the price at which the same percentage of respondents feel that the product is too expensive as those who feel it is too cheap.Question:Assume you are

97、 buying a$50 pair of jeans and you are provided with the option to purchase a carbon offset credit to compensate for your carbon footprintfrom this purchase;how much are you willing to pay?Acceptableprice range$1.0$2.0Actual costto offset($2.0)ACBD01020304050607080901000123456789101112%1314151617181

98、9202122232425Price point of marginal cheapness($1.0)AOptimal price point($1.5)DPrice point of marginal expensiveness($2.0)BIndifference price point($1.5)CPrice point($)Too cheapCheapExpensiveToo expensiveQuestion:Assume you are buying a$250 pair of jeans and you are provided with the option to purch

99、ase a carbon offset credit to compensate for your carbon footprintfrom this purchase;how much are you willing to pay?The actual cost for a high-end product is within the acceptableprice range,leaving some room to charge above cost0102030405060708090100Price point of marginal cheapness($3.0)AOptimal

100、price point($3.5)DPrice point of marginal expensiveness($5.0)BIndifference price point($4.0)C0123456789101112Price point($)%13141516171819202122232425Acceptableprice range$5.0$3.0Actualcost tooffset($4.0)ADBCToo cheapCheapExpensiveToo expensiveSources:2022 BCG-Patch Survey of US Consumers(N=452);BCG

101、 analysis.Note:The assumed price per ton of carbon offset credits is$100 for luxury jeans.The“price point of marginal cheapness”is the price at which,if an item is priced lower,it will be perceived as too cheap or of low quality.Conversely,the“price point of marginal expensiveness”is the price at wh

102、ich,if an item is priced higher,it will be perceived as“too expensive.”The“indifference price point”is the price at which the same percentage of respondents feel that the product is getting expensive as those who feel it is a bargain.The“optimal price point”is the price at which the same percentage

103、of respondents feel that the product is too expensive as those who feel it is too cheap.12 THE NEXT FRONTIER IN CARBON CREDITS:CONSUMERSSlideshow 4-Consumers Are Willing to Spend from$4 to$7 on Carbon Credits for a$250 FlightAs the global effort to mitigate climate change accelerates,both companies

104、and consumers have a responsibility to act.An essential tool that sits at the intersection of corporate and consumer action is the carbon credit.Although gaining individual consumer engagement on any topic is tricky,the positive consumer sentiment seen in our survey,the broad interest in purchasing

105、credits once they are understood,and the myriad ways in which companies can support and sustain this growing market all indicate high potential to accelerate consumer adoption of carbon credits in the future.Its time for consumers to not only learn more about climate change and the role of carbon cr

106、edits but also take action through carbon offsetting.Similarly,businesses have a responsibility to enable ways for consumers to offset purchase emissions seamlessly and provide transparency regarding the carbon footprints created and proof of carbon project impact.Once consumer adoption has been ful

107、ly catalyzed,carbon credits will be primed to join other key mitigation efforts in putting the world on track to net zero.Sources:2022 BCG-Patch Survey of US Consumers(N=452);BCG analysis.Note:The assumed price per ton of carbon offset credits is$50 for the flight.The“price point of marginal cheapne

108、ss”is the price at which,if an item is priced lower,it will be perceived as too cheap or of low quality.Conversely,the“price point of marginal expensiveness”is the price at which,if an item is priced higher,it will be perceived as“too expensive.”The“indifference price point”is the price at which the

109、 same percentage of respondents feel that the product is getting expensive as those who feel it is a bargain.The“optimal price point”is the price at which the same percentage of respondents feel that the product is too expensive as those who feel it is too cheap.1Anchor point effect=By displaying th

110、e actual cost to offset the carbon emissions generated,e.g.,$30,we created the possibility that some respondents would“anchor”to this number.Actual costto offset($30.0)When compared with the$250 jeans,the anchor point effect1 was limited,increasing the acceptable price point by only 16%Question:Assu

111、me you are buying a$250 plane ticket and you are provided with the option to purchase a carbon offset credit to compensate for your carbon footprintfrom this purchase,how much are you willing to pay?0102030405060708090100Too cheapCheapExpensiveToo expensiveAcceptableprice range$4.0$7.001234567891011

112、12Price point($)%13141516171819202122232425Price point of marginal cheapness($4.0)AOptimal price point($5.0)DPrice point of marginal expensiveness($7.0)BIndifference price point($6.0)CADCBAs the global effort to mitigate climate change accelerates,carbon credits are a crucial tool to help put us on

113、a path to rebalancing the planet.14 THE NEXT FRONTIER IN CARBON CREDITS:CONSUMERSAbout the AuthorsCourtney Dong is a partner in the San Francisco Bay Area office of Boston Consulting Group.Vikas Taneja is a managing director and senior partner in BCGs Boston office.Lauren Taylor is a managing direct

114、or and partner in the firms Dallas office.Pascal Enohnyaket is an associate director in BCGs Minneapolis office.Keeton Ross was responsible for special projects at Patch through the authorship of this publication.Jenny Roy is the VP of marketing at Patch.Brennan Spellacy is the co-founder and CEO of

115、 Patch.AcknowledgmentsThe authors thank their colleagues Joe Vasquez,Amir Goldberg,and Kevin Zhang for their invaluable contri-butions to the research,analysis,and writing of this article.Boston Consulting Group 2023.All rights reserved.3/23 For information or permission to reprint,please contact BC

116、G at .To find the latest BCG content and register to receive e-alerts on this topic or others,please visit .Follow Boston Consulting Group on Facebook and Twitter.Boston Consulting GroupBoston Consulting Group partners with leaders in business and society to tackle their most important challenges an

117、d capture their greatest opportunities.BCG was the pioneer in business strategy when it was founded in 1963.Today,we work closely with clients to embrace a transformational approach aimed at benefiting all stakeholdersempowering organizations to grow,build sustainable competitive advantage,and drive

118、 positive societal impact.Our diverse,global teams bring deep industry and functional expertise and a range of perspectives that question the status quo and spark change.BCG delivers solutions through leading-edge management consulting,technology and design,and corporate and digital ventures.We work

119、 in a uniquely collaborative model across the firm and throughout all levels of the client organization,fueled by the goal of helping our clients thrive and enabling them to make the world a better place.PatchPatch is the platform scaling unified climate action,empowering companies of any size to he

120、lp rebalance the planet while advancing their business initiatives.Patch provides democratized access to a broad selection of carbon credits through product integrations,direct purchases,and multi-year offtake agreementsall of which enable climate project developers to scale their solutions.Patch do

121、es so by combining leading technology with thoughtful project vetting.In turn,brands as wide ranging as Credit Suisse,Route,and Afterpay enable climate action and drive deeper customer relationships.Patchs partners have the information they need to feel confident in their climate impact and the transparency they want into each and every transaction.Learn more at https:/www.patch.io/.