Analysis indicates VCM could deliver up to 300 million additional tonnes of carbon stored in forests—if players prioritize integrity 

CONTACT: Nicole Goodman, Director of Communications, media@forestfoundation.org

WASHINGTON, D.C. (May 6, 2025) – The American Forest Foundation (AFF) and Boston Consulting Group (BCG) released a report today outlining the integral role forest carbon projects play in strengthening and scaling the potential of the voluntary carbon market (VCM) to deliver meaningful climate impact. 

The report, Revitalizing Carbon Markets from the Roots Up, predicts that prioritizing and investing in high-integrity projects could enable forests to sequester up to 300 million additional tonnes of carbon by 2030, unlocking even more supply for a demand-heavy market, while also delivering economic opportunities and conservation benefits. This becomes even more significant in a landscape where corporations are increasingly seeking solutions to mitigate climate-related risks in their operations and reach their own net zero goals.  

“Forests are our planet’s most effective carbon capture technology—but to fully maximize their potential, we need a voluntary carbon market that embraces and incentivizes integrity,” said Rita Hite, president & CEO of the American Forest Foundation. “This report makes clear the opportunity we have in front of us to harness forests as a nature-based solution through this market, but we must do it right. All market stakeholders play a critical role in strengthening this market’s success in delivering the climate, conservation, and economic impact we all need.” 

The VCM has historically faced a lack of trust among its stakeholders, driving prices down and eroding market confidence. But even amidst this, some projects have succeeded, showing the true potential of a high-functioning market when integrity is built into the design of nature-based solutions.  

AFF’s Family Forest Carbon Program (FFCP), named an exemplar of high integrity, places quality at the core of its design, equipping small forest landowners with the support they need to grow healthy and productive woodlands that produce a meaningful and measurable climate impact. However, scaling high-integrity forest carbon projects like FFCP for the entire market requires a shift in the approach that market leaders take.  

The report analyzes the potential of forest carbon projects and provides recommendations to supply-side stakeholders that will create enabling conditions for a high-integrity, high-functioning VCM. Recommendations include viewing forests as assets rather than credit banks, investing in quality, and diversifying revenue streams.  

“Forest carbon credits are a powerful, underused climate tool,” said Torsten Kurth, Managing Director and Senior Partner of Boston Consulting Group. “With the right management, they not only cut CO₂ but boost local economies. Projects that invest with integrity and a long-term view won’t just support the carbon market—they’ll lead the future of sustainable growth.” 

In addition to increased climate mitigation, the report also finds that forest carbon projects can benefit traditional markets as well. The report finds that timber harvesting combined with certain forest-based NBS projects can increase a forest’s 30-year net present value by up to 50%. This complementary land use approach is not only beneficial but also necessary for these projects’ success in the VCM. 

To read the full report, visit: https://www.bcg.com/publications/2025/how-forests-can-revitalize-carbon-markets 

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About The American Forest Foundation 

The American Forest Foundation is a national organization that empowers family forest owners to deliver meaningful conservation impact. The organization’s flagship program, the Family Forest Carbon Program, helps landowners implement forest management practices to care for the health and productivity of their woodlands. To learn more about the American Forest Foundation and the Family Forest Carbon Program, visit www.forestfoundation.org.   

About Boston Consulting Group 

Boston Consulting Group partners with leaders in business and society to tackle their most important challenges and 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 stakeholders—empowering organizations to grow, build sustainable competitive advantage, and drive 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 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.