Posted by
Robert Holmes on
URL: http://friam.383.s1.nabble.com/bigger-plans-bigger-little-mistakes-tp523782p523833.html
>From today's FT. Clearly the problem isn't getting China to play along, it's
getting the US to play along.
Robert
Carbon credits market triples to $30bn
By Fiona Harvey in Cologne
Published: May 3 2007 03:00 | Last updated: May 3 2007 03:00
The market in carbon credits grew faster than expected last year, tripling
to $30bn from $10bn in 2005, the World Bank said yesterday.
But the fledgling carbon credit industry is struggling to keep up with
demand, the Financial Times has found, as there is now a shortage of skilled
technicians to monitor carbon reduction projects and verify the claimed
emissions cuts are taking place.
Nearly $25bn (?13bn) came from transactions under the European Union's
emissions trading scheme, while $5bn was from the sale of carbon credits by
developing countries.
China was the biggest beneficiary, selling 61 per cent of last year's carbon
credits, while India took 12 per cent and Brazil 4 per cent. Credits
normally sell for between $5 and $10. The UK was the biggest purchaser of
credits, buying 50 per cent of supply.
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