Verity New Zealand Project Pipeline Addressing stakeholder certainty on global supply/demand influences driving long term pipeline pricing

Verity New Zealand Project Pipeline Addressing stakeholder certainty on global supply/demand influences driving long term pipeline pricing.

VCM High Quality Credit (HQ) Supply-Demand Influences.

VCM High Quality (HQ) Supply-Demand Influences. DEFINITION: A-AAA Grade independently rated HQ VCM standards. Stand alone HQ VCM demand milestones 2025=175 Mt; 2030=1.4 Gt; 2050=5.9 Gt. Stand alone HQ VCM supply remains significantly < demand. Persistent widening gap; scarcity premiums driving prices higher, converging upward trajectory with CMM market..

Least Cost Credit Integrity (LCCI) Supply-Demand Influences.

Compliance Markets (CMM) Supply-Demand Influences.

Total VCM LCCI and CMM Supply-Demand Influences. DEFINITION: Combined LCCI and CMM demand/supply. Forecast to reach a supply deficit of ~4000 MtCO2e by 2050..

References. McKinsey & Company “Matching durable carbon removal supply and demand by 2030” 11 July 2024 https://www.mckinsey.com/capabilities/sustainability/our-insights/sustainability-blog/matching-durable-carbon-removals-supply-and-demand-by-2030 AlliedOffsets “Forecasting the Voluntary Carbon Market” Feb 2025 https://alliedoffsets.com/wp-content/uploads/2025/02/AlliedOffsets-Forecast-Report-March-2025.pdf Abatable. “CORSIA demand expected to outstrip supply by 2030” 14 May 2024 https://abatable.com/blog/corsia-carbon-credit-demand-expected-to-outstrip-supply-by-2030/ Carbon Herald ”Navigating the Evolving Landscape of Carbon Markets in 2025” 9 Jan 2025 https://carbonherald.com/navigating-the-evolving-landscape-of-carbon-markets-in-2025/ Sylvera “The State of Carbon Markets Report 2025” https://www.sylvera.com/resources/state-of-carbon-markets-report-2025 Kita Earth “Carbon insurance 101: What it is and why it matters” 17 October 2023 https://www.kita.earth/post/carbon-insurance-101-what-it-is-and-why-it-matters Carbon Herald “Bullish Projections in the Carbon Market” 6 Feb 2025 https://carbonherald.com/bullish-projections-in-the-carbon-market/ S&P Global “ COP29: Industry players highlight synergy of Article 6 with voluntary, compliance carbon markets” 13 Nov 2024 https://www.spglobal.com/commodity-insights/en/news-research/latest-news/energy-transition/111324-cop29-industry-players-highlight-synergy-of-article-6-with-voluntary-compliance-carbon-markets Net Zero Investor “Could the voluntary and compliance carbon credit markets converge?” 17 Jan 2025 https://www.netzeroinvestor.net/news-and-views/why-the-voluntary-and-compliance-carbon-credits-markets-may-soon-converge BloombergNEF “Carbon Credits Face Biggest Test Yet, Could Reach $238/Ton in 2050” 6 Feb 2024 https://about.bnef.com/insights/commodities/carbon-credits-face-biggest-test-yet-could-reach-238-ton-in-2050-according-to-bloombergnef-report/ Verra https://verra.org Xpansiv https://xpansiv.com/cbl/ ICAP “Emissions Trading Worldwide: ICAP Status Report 2025” 8 April 2025 https://icapcarbonaction.com/en/status-report Abatable “CORSIA carbon credit demand expected to outstrip supply by 2030” 14 May 2024 https://abatable.com/blog/corsia-carbon-credit-demand-expected-to-outstrip-supply-by-2030/?utm_source=chatgpt.com.

References. Morgan Stanley. "Where the Carbon Offset Market Is Poised to Surge." 11 April 2023. https://www.morganstanley.com/ideas/carbon-offset-market-growth McKinsey & Company. "Matching durable carbon removal supply and demand by 2030." 11 July 2024. https://www.mckinsey.com/capabilities/sustainability/our-insights/sustainability-blog/matching-durable-carbon-removals-supply-and-demand-by-2030 BloombergNEF. "Long-Term Carbon Credit Supply Outlook 2025.” 26 August 2025. https://about.bnef.com/insights/commodities/long-term-carbon-credit-supply-outlook-2025/ BloombergNEF. “Mega Boost for Carbon Offsets Market Seen from SBTi Easing” 16 April 2024 https://about.bnef.com/insights/commodities/mega-boost-for-carbon-offsets-market-seen-from-sbti-easing/?utm_source=chatgpt.com Carbon Knowledge Hub. "Data Tracker." https://www.carbonknowledgehub.com/data-tracker Thallo. "Convergence of voluntary and compliance carbon markets: a positive path forward." 14 Nov. 2024. https://www.thallo.io/convergence-of-voluntary-and-compliance-carbon-markets-a-positive-path-forward-with-considered-cautions/ BloombergNEF. "Europe's New Emissions Trading System Expected to Have World's Highest Carbon Price in 2030 at €149” 6 March 2025. https://about.bnef.com/insights/commodities/europes-new-emissions-trading-system-expected-to-have-worlds-highest-carbon-price-in-2030-at-e149-bloombergnef-forecast-reveals/ Net Zero Investor. "Could the voluntary and compliance carbon credit markets converge?" 27 Jan. 2025. https://www.netzeroinvestor.net/news/could-voluntary-and-compliance-carbon-credit-markets-converge OECD “Working Paper #244” 12 July 2024 https://www.oecd.org/content/dam/oecd/en/publications/reports/2024/07/the-interplay-between-voluntary-and-compliance-carbon-markets_a2bc1649/500198e1-en.pdf Precedence Research ”Carbon Credit Market Size to Surpass USD 16,379.53 Bn by 2034” 10 July 2025 https://www.precedenceresearch.com/carbon-credit-market Carbon Direct https://www.carbon-direct.com Sylvera https://www.sylvera.com BeZero https://bezerocarbon.com/research S&P Global https://www.spglobal.com/commodity-insights/en/commodity/energy-transition/carbon.