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State and Trends of the Carbon Market 2012 High Res

State and Trends of the Carbon Market 2012 High Res

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Published by Alexandre Kossoy
The total value of the carbon market grew by 11 percent in 2011, to $176 billion, and transaction volumes reached a new high of 10.3 billion tons of carbon dioxide equivalent (CO2e). This growth took place in the face of economic turbulence, growing long-term oversupply in the EU Emissions Trading Scheme (EU ETS) and plummeting carbon prices. By far, the largest segment of the carbon market was that of EU Allowances (EUAs), valued at $148 billion.

With the end of the first commitment period of the Kyoto Protocol in 2012, the value of the pre-2013 primary CER, ERU and AAU markets declined in 2011. At the same time, the post-2012 primary CDM market increased by a robust 63%, to US$2 billion, despite depressed prices and limited long-term-visibility.

Against this backdrop, several new domestic and regional carbon market initiatives gained traction in both developed and developing economies in 2011. Five new jurisdictions (i.e., Australia, California, Québec, Republic of Korea, and Mexico) passed legislations laying the foundation for cap-and-trade schemes. Together, these initiatives will drive substantial resources towards low-carbon investments and they have the potential to unleash a truly transformational carbon market, in support of a global solution to the climate challenge.
The total value of the carbon market grew by 11 percent in 2011, to $176 billion, and transaction volumes reached a new high of 10.3 billion tons of carbon dioxide equivalent (CO2e). This growth took place in the face of economic turbulence, growing long-term oversupply in the EU Emissions Trading Scheme (EU ETS) and plummeting carbon prices. By far, the largest segment of the carbon market was that of EU Allowances (EUAs), valued at $148 billion.

With the end of the first commitment period of the Kyoto Protocol in 2012, the value of the pre-2013 primary CER, ERU and AAU markets declined in 2011. At the same time, the post-2012 primary CDM market increased by a robust 63%, to US$2 billion, despite depressed prices and limited long-term-visibility.

Against this backdrop, several new domestic and regional carbon market initiatives gained traction in both developed and developing economies in 2011. Five new jurisdictions (i.e., Australia, California, Québec, Republic of Korea, and Mexico) passed legislations laying the foundation for cap-and-trade schemes. Together, these initiatives will drive substantial resources towards low-carbon investments and they have the potential to unleash a truly transformational carbon market, in support of a global solution to the climate challenge.

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Categories:Types, Research, Science
Published by: Alexandre Kossoy on Jun 11, 2012
Copyright:Attribution Non-commercial

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01/18/2014

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state and trends of the
2012
Washington DC, May 2012
 
Lead authors
 Alx
Kossoy 
,
 
eam leader
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Guigon
Tis World Bank report beneted greatly romcontributions o Bianca Ingrid Sylvester.Other insightul perspectives were provided by Martina Bosi, Klaus Oppermann, and Felicity Spors.
state and trends othe
01
Washington DC, May 2012
 
The findings and opinions expressed in this report are the sole responsibility of the authors and should not be citedwithout permission. They do not necessarily reflect the views of the World Bank group, its Executive Directors, thecountries they represent, or of any of the participants in the carbon funds or facilities managed by the World Bank.The World Bank does not guarantee the accuracy of the data included in this work and accepts no responsibilitywhatsoever for any consequence of their use. This report is not intended to form the basis of an investment decision.The boundaries, colors, denominations, and other information shown on any map in this work do not imply any judgmenton the part of The World Bank concerning the legal status of any territory or the endorsement or acceptance of suchboundaries.The State and Trends of the Carbon Market 2012 received financial support from the CF-Assist Program, managed bythe World Bank Institute (WBI).Photo credits: page 72 flickr/longhorndave, all others: istockphoto.comEditing: Steigman CommunicationsDesign: Studio GrafikPrinting: Westland Printers

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