Carbon market volumes booming

The global carbon market could be worth US$30 billion in 2006, according to the World Bank. Carbon contracts worth US$7.5 billion changed hands to the end of April, compared with a total of almost $11 billion in 2005.
This follows a 40-times increase in volumes of carbon dioxide (CO2) allowances traded in 2005 compared to 2004.
"We have a working market that has grown faster than expected," said Andrei Marcu, president of the International Emissions Trading Association.