global-carbon-market-to-grow-by-33-in-2010

Global carbon market to grow by 33% in 2010

Despite the failure to reach a global consensus on extending the Kyoto Protocol, 2010 is likely to be a year of growth and stability in the world's established carbon markets, a new report suggests.

The global carbon market will be worth $170 billion in 2010, up 33% on last year, according to a recent report by Point Carbon, the leading independent provider of market intelligence, news, analysis, forecasting and advisory services for the energy and environment markets.

The report, titled Outlook for 2010 and Beyond, also predicts that trading volumes will increase by only 5% versus 2009, to a total of 8.4 billion metric tonnes of carbon dioxide equivalent CO2e. One billion metric tonnes is commonly referred to as 1 gigaton or 1 Gt.

The Kyoto Protocol on climate change, which came into force in February 2005, resulted in the launch of the European...

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