Carbon Trends May 2007
Released by the World Bank at CarbonExpo, the Carbon Trends report announces a tripling of offset markets over the past year.
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Carbon Market Value has Tripled in 2006, Voluntary Market Needs Standards Development, Says World Bank Report
3rd May 2007
A report released by the World Bank yesterday at CarbonExpo in Germany announced that the global carbon offset market has tripled over the past year to $30bn. The EU Emissions Trading Scheme accounted for $25bn of this total.
It also highlighted the growth of the retail carbon market with more than 50 companies offering offsets. While this growth in the voluntary market signals the mainstreaming of climate change responses in the business community, the report also points out that
‘This high-potential voluntary segment, however, lacks a generally acceptable standard, which remains a significant reputation risk not only to its own prospects, but also to the rest of the market, including the segments of regulated emissions trading and project offsets.’
