Carbon Markets Gain Momentum, Despite Challenges

Chafe, Zoë
May 2008
World Watch;May/Jun2008, Vol. 21 Issue 3, p30
The article focuses on the expansion of the global carbon market. Carbon markets are designed to combat climate change by putting a price on carbon dioxide (CO[sub 2]) and other greenhouse gases, and then allowing companies and other entities to trade the right to emit these gases through permits, credits, or allowances. The market has expanded, quickly over the past two years, reaching an estimated total value of US$59.2 billion in 2007, up 80 percent over 2006. Carbon markets can be either mandatory (created by national or regional legislation) or voluntary. The world's largest carbon trading platform, the European Union Emissions Trading Scheme (EU-ETS), is a mandatory program launched by the EU to help it meet Kyoto Protocol-mandated emissions targets.


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