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Carbon Market Recession Proof

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  • Carbon Market Recession Proof


    Carbon market to shrug off downturn and top US$150bn this year
    Source: BusinessGreen
    Published Jan. 13, 2009


    The global carbon market will remained shielded against the worst effects of the economic slowdown and grow by more than 27 per cent this year to US $150bn, according to the latest projections from analyst New Carbon Finance. The company's latest report said that the value of the carbon market soared by 82 per cent last year to US $118bn and predicted that while the global economic downturn would result in a slower rate of growth throughout 2009, the market would continue to expand. Speaking to BusinessGreen.com, Guy Turner, director of New Carbon Finance, said that the bulk of the growth during 2009 would be driven by the market for certified emission reductions (CERs), the carbon credits that form the currency within the UN's Clean Development Mechanism (CDM).

    'We don't expect to see a great deal of change in the EU emissions trading scheme (ETS) market, there will be a small increase in volume, but the price of credits is likely to stay fairly stable,' he predicted. 'Where we expect to see increases in both volume and prices is in the CDM market.'

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