05:37 PM EDT, 05/29/2024 (MT Newswires) -- Carbon offsets issued by four major credit registries declined in the third week of May, analysis provided by research company ClearBlue Markets has shown.

About 3.4 million carbon offsets were issued by the registries from May 13 to May 19. The weekly count is ClearBlue Markets' aggregate of all the credits issued by the American Carbon Registry, Climate Action Reserve, Gold Standard and Verra -- four of the largest registries of carbon offsets in the world.

The total represents a decline of 26.2% compared with the previous week and a jump of 47.5% versus the corresponding period of the prior year.

The carbon credit issuances went to a mixture of projects in diverse geographical regions, including Mexico, India and Colombia.

An issued carbon offset credit represents one tonne of removed or reduced carbon dioxide emissions that has been approved by a registry to enter the market.

Source material provided by ClearBlue Markets (www.clearbluemarkets.com)