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The Low Carbon Economy Ltd

05 Nov 2007 04:11:36

Carbon emissions trading set to boom

Carbon emissions trading could double in value to at least $60 billion (£28.8 billion) by the end of 2007, as investors and polluters look to profit from reducing greenhouse gas emissions, the head of an industry body has claimed.

According to Reuters, Andrei Marcu, president of the International Emissions Trading Association (IETA), told reporters this week that he expected the market for carbon emissions trading to display revenue in that "ballpark".

There are a wide variety of emissions markets around the world, with companies in all industries stand to earn credits for cutting emissions, which they can then sell on to individuals, businesses and governments that want to offset their impact on the environment.

The certified emissions reduction (CER) credit, for example, is awarded for the reduction of one tone of carbon dioxide emissions under certified schemes, and is currently traded at around 17 euros (£11.80) per tonne.

Last month (October), a coalition of European countries, US states, Canadian provinces and New Zealand partnered to launch the International Carbon Action Partnership (ICAP), which will allow for different governments and public authorities implementing carbon markets to work together and embark upon joint research activities.ADNFCR-1235-ID-18343257-ADNFCR

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