China, India Top List Of Carbon Credit Sellers
A report from the World Bank says India is the second largest seller of carbon credits in the world with a 6% share in 2007, while China tops the list with a 73% share, domain-b.com reports.
Regulation constraining carbon emissions has spawned an emerging carbon market valued at $64 billion in 2007, according to World Bank’s “State and trends of the carbon market 2008” (PDF) report.
India and Brazil, at 6% market share each, transacted the highest volumes after China in 2007.
China remained the world leader in the supply of Certified Emission Reductions for the third consecutive year, with a 73% market share in terms of volumes last year against 54 percent in 2006.
The report cites the attractiveness of China for buyers of carbon credits, due mainly to “the large size, economies of scale in origination, and its favorable investment climate.”
While U.S. business and political leaders eye legislation authorizing the trading of carbon credits, some believe the approach shouldn’t take the place of reducing carbon emissions and does nothing to help people in developing countries cope with climate change.
Energy Manager News
- Tesla’s Battery Storage Device Put to Use. Time to Exhale?
- Variable Speed Drives are a Powerful Efficiency Tool
- Veolia Checks Into the UK’s Tallest Hotel
- Massachusetts Aims for Critical Care Resiliency
- State of Michigan and MISO Propose Retail Capacity Charge
- Breaking the Ice with Thermal Energy Storage
- Ameresco to Upgrade Federal Prison in Butner, NC
- Alpen Introduces Window Package Rated at R10 Insulation