Citation
(2008), "New report confirms strong growth in CO2 trade", Management of Environmental Quality, Vol. 19 No. 5. https://doi.org/10.1108/meq.2008.08319eab.004
Publisher
:Emerald Group Publishing Limited
Copyright © 2008, Emerald Group Publishing Limited
New report confirms strong growth in CO2 trade
Article Type: News From: Management of Environmental Quality: An International Journal, Volume 19, Issue 5
The global carbon market more than doubled in value to €47 billion in 2007, according to the World Bank’s latest annual report on the state of the market. The World Bank confirms market trends highlighted in a report published by analyst Point Carbon earlier this year but the figures are slightly different. Total traded volume increased sharply to 2.9 billion tonnes, the report shows. The EU’s emission trading scheme continues to dominate the market. Trades were worth $50 billion (€32 billion), nearly double their 2006 value.
But transactions made through the UN’s clean development mechanism (CDM) seem to be losing momentum, according to the report. Trade in the primary market for CDM credits “levelled off”, increasing by only 2.5 per cent to 551 million tonnes. “Market momentum may be at a crossroads for many developing countries”, the World Bank warns.