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Monday, 14 June 2010

World Bank releases Annual Report on Trends of the Carbon Market

The World Bank released its annual State and Trends of the Carbon Market report at Carbon Expo in Cologne, Germany, on 26 May. The report indicates that the value of the global carbon market grew six percent, to US$144 billion, in 2009 despite being its most challenging year to date. The Report indicates that, on the supply side, the reduction in access to capital made it difficult for many greenhouse gas emissions reduction project developers to lock in financing, causing project origination to grind to a halt. In addition, the global economic crisis also is reported to have negatively impacted the demand side because, as industrial output plummeted, the demand for carbon assets fell. The Report analyzes data from the trading of European Union Allowances (EUAs) and secondary Kyoto offsets under the European Union Emissions Trading Scheme (EU ETS). It also evaluates transactions under the Kyoto markets: Certified Emission Reductions (CERs), Emission Reduction Units (ERUs), and Assigned Amount Units (AAUs), as well as data from voluntary markets.

Source: The World Bank