Q3 2026 broke the "less volume, more value" pattern that has defined the carbon market since 2024. Issuance recovered from a weak Q2, but the average value of an issued credit fell both year-over-year and quarter-over-quarter, and retirements dropped sharply in both volume and value.

One segment moved the other way. CCP-labeled retirement value rose 6.9% year-over-year despite a 17.7% drop in volume, and CCP-labeled issuances now carry a roughly 48% premium over the broader pool, up from 5% a year ago. The quality premium hasn't disappeared. It has narrowed onto credits with a recognized integrity label, while the commodity end of the market keeps cooling.

Removals followed their own pattern. A single Google and Terradot Enhanced Rock Weathering deal reshuffled the pathway leaderboard, more than 60 buyers transacted for the first time, and the gap between contracted and delivered CDR volumes kept widening.

CEEZER's Carbon Market Quarterly for Q3 2026 breaks down:

• Why the aggregate quality premium paused, and why the CCP-labeled segment shows the opposite trend
• Key removal deals, the 60+ new buyers, and which pathways gained and lost ground
• Where CRCF and the EU ETS review stand, including a new European Parliament draft on the ETS and the Buyers' Club's first offtake window
• Where Article 6.4 and CORSIA stand today
• What the contracted-vs-delivered gap and CEEZER's demand modeling imply for removal availability and price through 2050
• Actionable recommendations for buyers, and why procurement now beats waiting

Download the full report to see what Q3 means for your 2027 procurement strategy.