Carbon trade expected to grow
From Times Wire Services
Global trade in carbon dioxide emissions could reach 4.2 billion tons this year, a 56% increase from 2007, according to a report from Point Carbon, an Oslo-based research firm.
The report includes a survey of the carbon market in which more than 70% of respondents predict a global climate agreement by 2012.
The global carbon market was worth $60 billion in 2007, an 80% increase over 2006, according to the report. At today’s carbon emissions price, the 2008 market could be worth $92 billion.