February 27, 2008
Carbon Market Could Jump 56% To $92 Billion In 2008
The global carbon market will see 4.2 billion tons carbon emissions transacted during 2008, up 56 percent from last year, according to research from Point Carbon. At today’s prices, that would make the market worth $92 billion.
The figures, published in a Point Carbon report “Carbon Market Analyst: Outlook for 2008,” see continued growth in the European Union Emissions Trading Scheme, which Point Carbon speculates will be worth some $68 billion in 2008. Options and auctions contribute to the increased volume in the EU scheme this year.
“We anticipate growth for several reasons,” said Kjetil Røine, Manager of Point Carbon’s Carbon Market Research team. “Primarily, the tightness of the Phase 2 cap will increase the traded volume compared to 2007 simply because more players are short of allowances. The proposed EU climate and energy package of January 23 of this year further strengthens this tightness.”
Point Carbon’s figures also show that developing countries continue to deliver reductions. The Clean Development Mechanism saw transactions of 947 metric tons in the primary and secondary markets in 2007, producing a combined value of $17 billion. While Point Carbon expects the primary CDM market to shrink in 2008, it believes that secondary transactions will continue to grow strongly. The forecast total volume of the CDM market in 2008 would be 1.2 billion tons CO2e, worth $22 billion at current prices.
Point Carbon also presents volume forecasts for a number of new markets, including the US ten-state Regional Greenhouse Gas Initiative, Kyoto country emission allowances and offset trades for future federal cap-and-trade schemes in the US, Australia and Canada. In total, carbon markets outside the EU ETS and CDM are predicted to see transactions worth $2.1 billion in 2008.
Advertisers
Pew Center Conference: Corporate Energy Efficiency
Reduce energy consumption, lower emissions and save money. >>
Recent Daily News [ see all ]
- 02/09/2010
- 02/08/2010
- 02/05/2010
- Caterpillar Puts Weight Behind $1.5B FutureGen CCS Project
- WR Grace Targets 20% Energy Intensity Cuts
- As UK Cap and Trade Falters, Government May Prop Up Carbon Prices
- Federal Government Proposes Climate Change Office
- University of Florida Football Complex Uses 25% Less Energy Than Similar Buildings
- 34% of Execs Cite Economy As Impediment to Adopting Sustainability
- Energy Storage Project Aims to Extend Utility of Solar Power
- Ford to Debut Electric Commercial Van
- SF OKs $150M in Property Tax Financing for Energy Efficiency, Renewables
- BNSF Signs Deal for Measuring Energy Efficiency
- Roundup: GE, IBM, Audi ‘Green Police,’ EU Carbon
- Accidental to Purposeful Sustainability: Using What You Already Have to Grow Sustainability
- Holiday Inn Express, Bardessono Boast Energy Efficiency, Renewables
- Massachusetts Adds $20M in Solar to 12 Wastewater Plants
- Novo Nordisk Cuts CO2 Emissions by 32%, Water Use by 20%
- Roundup: Dr. Suess Cease-and-Desist, Philips, EPA, Melting Drywall
- Canadian Environment Minister Denounces Quebec Vehicle Emissions Regs
- Energy-Efficient Lighting Saves Canadian Tire $6M in 2009
- Pixar Data Center Saves Money Via Cold Aisle Containment
- HVAC Software Helps University of Texas Save $500K a Year
- Data Centers Can Apply for Energy Star Rating in June
- Rytec’s Fast Cold Storage Door Helps Save Energy
- Burt’s Bees Decreases Waste to Landfill by 51.5% in 2009
- National RES Would Benefit Southeastern, Manufacturing States
- TBR Evaluates Sustainability Strategies at Dell, CSC, Cisco
- CEO Report Envisions $6 Trillion in Sustainable New Business Opportunities
- IBM ‘Cloud Computing’ Data Center Saves 15% in Energy Costs
- Bipartisan Senatorial Effort Seeks Cap and Trade for non-CO2 Emissions
- Collapsible Ocean Shipping Container May Help Reduce Emissions
- To Ensure Future Compliance, Utility Asks for CO2 Limits
- Analyzing Energy-Efficiency Metrics Can Reduce Energy Use in Data Centers
- Goose Island Touts Low-Carbon Brew
Charts [ see all ]
Popular Topics
Energy Efficiency
Data Center
Emissions
Facilities
Electricity
Sustainability
Water
Supply Chain
Efficiency
Green Marketing
Strategy & Leadership
Research
Fleets & Transportation
Carbon Finance
Conventional Energy
Clean Energy
Waste & Recycling
Paper & Packaging
Policy & Law
Utilities
Construction
Comments and Discussions
John Bergdoll on Accidental to Purposeful Sustainability: Using What You Already Have to Grow Sustainability
"I was following the logic your article..."
Liz Amason on Clorox Comes Clean With Chemical Content on Web Site
"But look at their ingredients listings. For example, their regular liquid bleach..."
Rigidflexibility on Companies Going Green Should Ignore Green Consumer
"I was about to market a metal working fluid that is 98>% Soybean oil and..."
Stuart on Canadian Environment Minister Denounces Quebec Vehicle Emissions Regs
"Canadians have been waiting for the feds to act on climate change for..."
Steve Wolford on Sports Teams Embrace Sustainability
"Hello Environmental Leader, We just returned from the National Sport Forum in Baltimore. Team and..."
Mauibrad on Bipartisan Senatorial Effort Seeks Cap and Trade for non-CO2 Emissions
"Finally some enlightened ideas out of Congress!"
Cameron Green on Data Centers Can Apply for Energy Star Rating in June
"I did a blog post about this. Essentially PUE doesn’t give you very much..."





Join the Discussion