New statistics have revealed that the global carbon market contracted 38% in 2013 as prices and volumes dropped. There is, however, strong growth in the North American emission markets.
The Chinese pilot trading schemes show substantial progress with Europe continuing to decline – but still dominates the global market.
Global carbon markets traded a total €38.4 bn worth of allowances and credits during 2013, a 38% decrease from the €62bn the previous year, in a continuation of the decline that started after the market peaked at €96bn in 2011. Since then, the key European reference price of emissions has fallen from €18 to €5 per tonne of carbon dioxide.
Last year also saw a decrease in terms of volumes – from 10.7 billion to 9.2 billion emission units – the first drop in traded volumes since 2010, according to analysis published today by Thomson Reuters Point Carbon.
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