14.10.2008 - Carbon markets to break the $100bln barrier in 2008
The latest analysis by New Carbon Finance indicates that the world’s carbon markets grew by 81% over the first nine months of this year to reach $87bn by the end of Q3. By the end of 2008 the market will have broken the $100bln mark to reach $116bln. This growth is expected to continue to 2012 by when it should reach $550bln. If the US introduces a federal cap and trade scheme we expect the market to turn over $3 trillion per year by 2020. According to New Carbon Finance, the total volume of carbon emissions transacted is expected to grow by 31% from 3.0Gt in 2007 to 3.9Gt in 2008. However, the total value of carbon emissions transacted is projected to increase by 80% from $64lbn in 2007 to $116bln in 2008, as a result of consistently high prices of European Union Allowances (EUAs) and CDM credits or Certified Emission Reductions (CERs) achieved during 2008 compared to 2007. EUAs averaged around $34/t in the first three quarters of 2008......Full Press Release: Source