Saturday, July 15, 2006
Carbon market booming (too bad we're not in it)
The global carbon market could be worth US$25 to US$30 billion in 2006, based on the first four months of trading, according to the World Bank. CLose to $7.5 billion in carbon contracts were exchanged in 4 months, compared with close to $11 billion in 12 months of 2005. The volumes of carbon dioxide (CO2) allowances traded in 2005 grew 4000% compared to 2004. The number of contracts grew by 300% in the same period. "We have a working market that has grown faster than expected," said Andrei Marcu, president of the International Emissions Trading Association.
Posted by Michael Kiely at 6:23 PM