The volume of carbon dioxide (CO2) traded globally this year will increase by 20%, but the global carbon market’s value will drop by 32%.
According to Reuters, which has gained information from research group Point Carbon, 5.9bn metric tons of CO2 will be traded in 2009, compared to 4.9bn in 2008.
However, due to falling prices of carbon emissions, the global carbon market, which stood at €92bn last year, is expected to drop to €62.6bn.
The price of carbon permits, known as European Allowances, have lost over two thirds of their value since July 2008, and have almost halved in price since 1st January 2009, as participants have monetised assets in the economic downturn.
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