From Environmental Leader , Published 09 January 2014
Global carbon markets’ value will rise 15 percent this year to 46 billion euros ($63 billion), Bloomberg New Energy Finance forecasts.
The analysts attribute the increase to the European Union’s plan to postpone sales of emissions permits. This may boost European carbon prices to 7.5 euros ($10) a metric ton — a more than 50 percent rise from today’s price of less than 5 euros ($7).
The value of North American carbon markets is also expected to increase in 2014, New Energy says.
The only carbon markets to grow in volume and price over 2013 were those in North America, according to analysts at Thomson Reuters Point Carbon.
While global carbon markets’ value dropped 38 percent to 38.4 billion euros ($52.9 billion) last year, the market spanning California and Quebec now has the highest permit prices in the world, at $10.71 per metric ton.
DOWNLOAD THE LATEST WHITEPAPER Effectiveness of Local Agency Sustainability Plans
Subscribe to Greenwatch Newsletter Check out the latest issues
READ OUR LATEST CASE STUDY Assisting City of Dublin with CEQA Review for Major Kaiser Permanente Medical Facility