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World Bank Releases Report on State and Trends of the Carbon Market 2009

© CFB2 June 2009: Despite the turmoil in the financial world, during 2008 the global carbon market doubled to US$126 billion, according to the World Bank's report titled “State and Trends of the Carbon Market 2009.”

The report, based on data from the trading of EU Allowances (EUAs) under the EU Emissions Trading Scheme (EU ETS), from transactions completed under the Kyoto Protocol's flexible mechanisms (the Clean Development Mechanism (CDM) and Joint Implementation (JI)), as well as data from voluntary markets, also finds that the value of transactions from CDM projects in developing countries declined by 12% to an estimated US$6.5 billion in 2008, with an average price of US$16.8. [The Report]