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Carbon market surges 84% in 2008 mongabay.com February 12, 2009 Data from the market research firm shows that transaction volume for carbon dioxide emissions allowances reached four billion tons for the year, an increase of 42 percent over 2007. The average price across all transactions rose to $29 per ton of CO2 from $23. New Carbon Finance says it expects the market to reach $150 billion in 2009, despite falling carbon prices amid the global economic slowdown.
The next round of climate talks in Copenhagen, Demark will weigh the inclusion of forestry offsets that could be generated through reforestation, avoided deforestation, and the reducing emissions emissions from deforestation and degradation (REDD) mechanism. Presently such credits are limited to voluntary markets, which grew to $499 million in 2008 from $265 million in 2007.
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