CARBON MARKET
- Carbon market Boom. EU facts and figures. | Investors jolt EU carbon trading levels
The value of the European Union carbon emissions trading more than doubled last year to $50bn (€32bn), amid heightened investor appetite and improved market infrastructure.
The market grew from $24.4bn at the end of 2006 to $50.1bn, according to a report by the World Bank.
Trading is up more than sixfold since 2005, when permits worth just $7.9bn changed hands.
- The Boom should continue. Nice high level overview of world carbon market. | Global carbon market takes flight
Until now, most of the action has been based on European regulations, but U.S. project developers and Wall Street are gearing up for the arrival of greenhouse gas legislation in the United States – both at state and federal levels – that could create a carbon market several times larger than the European one.
UNITED STATES
- Harvard Prof Greg Mankiw’s blog | McCain vs Obama: Carbon Auctions
Any cap-and-trade system for carbon creates a valuable resource: the right to produce carbon. A key question in the design of the system is how those carbon allowances are allocated.
INDIA
- MCX ropes in global co for carbon mkt
…did not stop the Multi Commodity Exchange of India (MCX) from trying to induce vibrancy in its carbon credit trading platform. MCX has roped in IDEAcarbon as its global strategic advisor on climate change policy.
The objective behind the tie-up is to develop the carbon market in India and internationally.
UK
- Defra: Personal carbon trading ‘ahead of its time’
The report said: “While personal carbon trading remains a potentially important way to engage individuals, and there are no insurmountable technical obstacles to its introduction, it would nonetheless seem that it is an idea currently ahead of its time in terms of its public acceptability and the technology to bring down the costs.”
Speaking at the Think 08 conference in London on the same day the research was published, current Environment Secretary Hilary Benn said the UK public was not ready for such a scheme.
CANADA
- Hints on our brave new climate initiative aren’t coming from the liberals
JAPAN AND RUSSIA
- SMBC, Russian Bank to Cooperate in Emissions Trading
Japan’s Sumitomo Mitsui Banking Corp. has agreed to tie up with Russia’s Bank for Development and Foreign Economic Affairs in greenhouse gas emissions credit trading.
The core unit of Sumitomo Mitsui Financial Group Inc. <8316> and the Russian state-run bank, known as Vnesheconombank, signed a memorandum here on Monday.
The tie-up will focus on information exchanges for the time being. The two sides hope to expand the collaboration to include the sale of emissions credits in Russia to Japanese companies.
ALTERNATIVE ENERGY INVESTMENTS
- Credit crunch might not be climate crunch
Investors will scrutinise far more closely where they put their money, meaning some of the more distant clean energy and climate projects might be shelved temporarily in favour of those with quicker results and therefore dividends.
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