The global carbon market has grown into a $22 billion industry, according to the World Bank. The value is double that in 2005. “All the data show that the carbon market is becoming a powerful financial force supporting clean development,” Karan Capoor, who co-wrote a new World Bank report on emissions trading, said. Asia accounts for 84 percent of the CDM market volume, with China and India hosting 75 percent of the projects. “Clean energy is clearly benefiting from the carbon market,” Joelle Chassard, who heads the bank’s carbon finance unit, stated. “But its true potential for sustainable development can only be realized if there is a strong policy signal for its continuation into the longer term,” Chassard added.
Source: Global carbon market hits 22 billion dollars: World Bank (Agence France-Presse)
