April 15, 2009
Study: Global Carbon Market May Approach $700B by 2013
While the total value of the global market is expected to drop in 2009 due to lower carbon prices because of decreased manufacturing and general economic prospects, the increasing adoption of cap-and-trade programs by the United States and other nations is expected to push the market to $669 billion in 2013.
According to “Carbon Emissions Trading Markets Worldwide,” a report by SBI Reports, the global market is expected to be $84 billion in 2009, down from SBI’s 2008 calculation of $118 billion. A study from Point Carbon put the 2008 global market at $125 billion.
SBI states that the global carbon market ballooned at a 256 percent compounded annual growth rate since 2004.
A compliance-based system in the United States alone could create a carbon market worth $117 billion by 2013.
After 2009, the global market is expected to grow an average 68 percent annually, according to the report.
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