In the global race to mitigate climate change, carbon markets have emerged as a pivotal, if complex, economic tool. They create a framework for buying and selling credits that represent measurable reductions or removals of greenhouse gas (GHG) emissions. These markets are broadly split into two distinct streams: Voluntary Carbon Markets (VCMs), driven by corporate sustainability goals and private initiatives, and Compliance Carbon Markets (CCMs), which are legally mandated by governments to enforce emission reduction targets on major polluters.