--- title: "AlliedOffsets Corporate Buyers Spotlight: October" description: Explore how Eni and EY approach the voluntary carbon market, highlighting their diverse strategies in carbon credit retirement and sustainability commitments. image: https://blog.alliedoffsets.com/hubfs/hunter-newton-TWrKDYt-vVM-unsplash%20(1)-1.jpg --- [![AlliedOffsets logo](https://blog.alliedoffsets.com/hubfs/AlliedOffsets_July2026/images/AlliedOffsets-logo.svg "AlliedOffsets logo")](http://alliedoffsets.com) [![logo](https://blog.alliedoffsets.com/hubfs/AlliedOffsets_July2026/images/logo%20(2).svg "logo")](https://staging-wp.alliedoffsets.com/) - About - [About](https://staging-wp.alliedoffsets.com/about/) - [Clients & Partners](https://staging-wp.alliedoffsets.com/clients-partners/) - [Team & Careers](https://staging-wp.alliedoffsets.com/team-careers/) - Products - [API: Data Integration](https://staging-wp.alliedoffsets.com/api/) - [Dashboard: Carbon Data](https://staging-wp.alliedoffsets.com/dashboard/) - [Consulting and Bespoke Offerings](https://staging-wp.alliedoffsets.com/consulting-and-bespoke-offerings/) - [Portfolio Monitoring](https://staging-wp.alliedoffsets.com/portfolio-monitoring/) - Carbon Data - [Carbon Pricing](https://staging-wp.alliedoffsets.com/pricing/) - [Carbon Market Forecasting](https://staging-wp.alliedoffsets.com/forecasting/) - [Carbon Policy](https://staging-wp.alliedoffsets.com/policy/) - [CDR Data](https://staging-wp.alliedoffsets.com/cdr/) - [Buyers](https://staging-wp.alliedoffsets.com/buyers/) - Solutions - [Investing in projects](https://staging-wp.alliedoffsets.com/investing-in-projects/) - [Developing projects](https://staging-wp.alliedoffsets.com/developing-projects/) - [Sourcing projects](https://staging-wp.alliedoffsets.com/sourcing-projects/) - [Selling credits](https://staging-wp.alliedoffsets.com/selling-credits/) - [Trading credits](https://staging-wp.alliedoffsets.com/trading-credits/) - [Market Trends](https://staging-wp.alliedoffsets.com/market-trends/) - Insights & Resources - [Reports, webinars & events](https://staging-wp.alliedoffsets.com/reports/) - [Newsletter](https://staging-wp.alliedoffsets.com/newsletter/) - [Media & Citations](https://staging-wp.alliedoffsets.com/media-citations/) - [Contact](https://staging-wp.alliedoffsets.com/contact/) - About - [About](https://staging-wp.alliedoffsets.com/about/) - [Clients & Partners](https://staging-wp.alliedoffsets.com/clients-partners/) - [Team & Careers](https://staging-wp.alliedoffsets.com/team-careers/) - Products - [API: Data Integration](https://staging-wp.alliedoffsets.com/api/) - [Dashboard: Carbon Data](https://staging-wp.alliedoffsets.com/dashboard/) - [Consulting and Bespoke Offerings](https://staging-wp.alliedoffsets.com/consulting-and-bespoke-offerings/) - [Portfolio Monitoring](https://staging-wp.alliedoffsets.com/portfolio-monitoring/) - Carbon Data - [Carbon Pricing](https://staging-wp.alliedoffsets.com/pricing/) - [Carbon Market Forecasting](https://staging-wp.alliedoffsets.com/forecasting/) - [Carbon Policy](https://staging-wp.alliedoffsets.com/policy/) - [CDR Data](https://staging-wp.alliedoffsets.com/cdr/) - [Buyers](https://staging-wp.alliedoffsets.com/buyers/) - Solutions - [Investing in projects](https://staging-wp.alliedoffsets.com/investing-in-projects/) - [Developing projects](https://staging-wp.alliedoffsets.com/developing-projects/) - [Sourcing projects](https://staging-wp.alliedoffsets.com/sourcing-projects/) - [Selling credits](https://staging-wp.alliedoffsets.com/selling-credits/) - [Trading credits](https://staging-wp.alliedoffsets.com/trading-credits/) - [Market Trends](https://staging-wp.alliedoffsets.com/market-trends/) - Insights & Resources - [Reports, webinars & events](https://staging-wp.alliedoffsets.com/reports/) - [Newsletter](https://staging-wp.alliedoffsets.com/newsletter/) - [Media & Citations](https://staging-wp.alliedoffsets.com/media-citations/) - [Contact](https://staging-wp.alliedoffsets.com/contact/) ![hunter-newton-TWrKDYt-vVM-unsplash (1)-1](https://blog.alliedoffsets.com/hubfs/hunter-newton-TWrKDYt-vVM-unsplash%20(1)-1.jpg) # AlliedOffsets Corporate Buyers Spotlight: October - Home - [AlliedOffsets](https://blog.alliedoffsets.com) - AlliedOffsets Corporate Buyers Spotlight: October [Max Denniff](https://blog.alliedoffsets.com/author/max-denniff) 11/12/2026 [AlliedOffsets Data Updates](https://blog.alliedoffsets.com/tag/alliedoffsets-data-updates) [0 Comments](https://blog.alliedoffsets.com/alliedoffsets-corporate-buyers-spotlight-october#postComment) 2 Minutes This month, we take a closer look at Eni and EY, two contrasting buyers whose approaches to the voluntary carbon market show how differently companies can spread their demand, from an Italian energy major retiring at scale and concentrated on nature-based avoidance credits it helps to develop, to a global professional services firm with a smaller but more diversified portfolio that includes a growing share of removals. Combining AlliedOffsets data with wider research, we explore how their VCM activity, credit preferences, and decarbonization strategies have developed over time. Buyer Spotlight ![Eni](https://blog.alliedoffsets.com/hs-fs/hubfs/Eni.png?width=4088&height=554&name=Eni.png) Eni is one of the largest corporate buyers on the AlliedOffsets platform, with 33,820,967 credits retired across 75 projects and an estimated transaction value of $203 million. Its activity goes back to 2014, but most of it has come in the last three years, with monthly retirements regularly passing 5 million credits since 2024 and reaching close to 9 million at their peak in late 2025. That volume reflects how Eni approaches the market. Rather than buying mainly on the open market, the Italian energy company [develops and invests in Natural Climate Solutions projects](https://www.eni.com/en-IT/sustainability/decarbonization/carbon-offset-solutions.html) to offset the residual emissions it can’t yet abate, and plans for carbon credits to make up around 5% of its total emissions reductions by 2050. That strategy shows up clearly in its portfolio. Forestry and land use make up 81.62% of Eni’s retirements, with REDD+ accounting for the large majority of that, and household devices, mainly clean cookstoves, follow at 9.94%. Most of its projects are in sub-Saharan Africa, with smaller clusters in South America and Southeast Asia. Avoidance and reduction credits account for 94.66% of its offset mix. At a weighted average of $6.01 per credit, Eni’s lifetime price sits below EY’s, although its October retirements came in at a higher $13.07. AlliedOffsets rates Eni A- as a buyer and A within the energy sector, and it holds a Net Zero Transition commitment. Its average normalised retirement quality score is 0.2, and 60.2% of its credits are classed as at risk under AlliedOffsets’ reputational risk framework, which flags methodologies such as cookstoves and certain REDD+ credits regardless of the individual project. For a buyer whose strategy is built around nature-based avoidance at scale, that classification follows closely from the project types it has chosen. ![Group 4532](https://blog.alliedoffsets.com/hs-fs/hubfs/Group%204532.png?width=4464&height=526&name=Group%204532.png) EY has retired 5,978,883 credits, about a sixth of Eni’s volume, yet it has spread them across 70 projects, almost as many as Eni’s 75. Its project map covers the Americas, Africa, South Asia and Southeast Asia, and no single region dominates. The professional services firm has been buying since 2019, with activity building from 2023 onwards and monthly retirements reaching around 1.1 million credits in 2025. Its weighted average price of $9.26 per credit puts its estimated transaction value at $55.5 million. October’s retirements, at $18.02, were the highest-priced in this month’s top five. The portfolio is more mixed than Eni’s. Forestry and land use make up 56.14%, followed by renewable energy (20.84%), chemical processes (10.75%), waste disposal (6.64%) and agriculture (3.51%). Removals account for 19.2% of its offset mix, compared with very little for Eni, and Climeworks appears among the brokers EY has bought through. EY has [described its approach](https://trellis.net/article/ey-williams-college-created-credit-portfolios/) as pairing super-pollutant credits, which deliver high-confidence emissions reductions, with nature-based credits for their biodiversity and community benefits. That mix underpins its rating. AlliedOffsets rates EY A as a buyer and A within its sector, and it holds both SBTi and Net Zero Transition commitments, as well as RE100 membership. Its average normalized retirement quality score of 0.4 is double Eni’s. A majority of its credits (62.53%) are still classed as at risk under AlliedOffsets’ framework, a reminder that the classification is driven by methodology. With removals making up a fifth of its offset mix, EY is one of the few large buyers in professional services whose portfolio reaches beyond avoidance credits. --- #### Tag: [AlliedOffsets Data Updates](https://blog.alliedoffsets.com/tag/alliedoffsets-data-updates) #### Share: - [Follow us on Facebook](http://www.facebook.com/share.php?u=https://blog.alliedoffsets.com/alliedoffsets-corporate-buyers-spotlight-october) - [Follow us on X](https://twitter.com/intent/tweet?url=https://blog.alliedoffsets.com/alliedoffsets-corporate-buyers-spotlight-october&text=AlliedOffsets%20Corporate%20Buyers%20Spotlight:%20October) - [Follow us on Linkedin](http://www.linkedin.com/shareArticle?mini=true&url=https://blog.alliedoffsets.com/alliedoffsets-corporate-buyers-spotlight-october) - [Follow us on Pinterest](http://pinterest.com/pin/create/button/?url=https://blog.alliedoffsets.com/alliedoffsets-corporate-buyers-spotlight-october&text=AlliedOffsets%20Corporate%20Buyers%20Spotlight:%20Octoberdescription=This%20month,%20we%20take%20a%20closer%20look%20at%20Eni%20and%20EY,%20two%20contrasting%20buyers%20whose%20approaches%20to%20the%20voluntary%20carbon%20market%20show%20how%20differently%20companies%20can[...]&media=https://25967738.fs1.hubspotusercontent-eu1.net/hubfs/25967738/hunter-newton-TWrKDYt-vVM-unsplash%20%281%29-1.jpg) --- #### [Webinar recording - Behind the data: AlliedOffsets in conversation with Carbon Pulse Previous Post](https://blog.alliedoffsets.com/webinar-recording-behind-the-data-alliedoffsets-in-conversation-with-carbon-pulse) ### Leave a Reply --- ## Related Posts [AlliedOffsets Data Updates](https://blog.alliedoffsets.com/tag/alliedoffsets-data-updates), [Policy](https://blog.alliedoffsets.com/tag/policy) [Max Denniff](https://blog.alliedoffsets.com/author/max-denniff) 28 September, 2026 #### [What is Article 6.4, and how does it affect voluntary carbon credits?](https://blog.alliedoffsets.com/what-is-article-6.4-and-how-does-it-affect-voluntary-carbon-credits) Article 6.4 is the section of the Paris Agreement that created the Paris Agreement Crediting... 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