Featured Research

from universities, journals, and other organizations

Voluntary Carbon Markets Double In Size And Value In 2008

Date:
May 21, 2009
Source:
Earthscan
Summary:
123 million tons of carbon credits valued at US$705 million were transacted in the voluntary carbon markets in 2008. The average price for voluntary offset credits increased 20% to $7.34/tCO2e.

The voluntary carbon markets doubled in both transaction volume and value in 2008 according to the report Fortifying the Foundation: State of the Voluntary Carbon Markets 2009, released May 20. Consistent with the trend in 2007, this represents more than twice the aggregate 2008 growth rate of the regulated carbon markets across the globe.

“Over the past three years, we have witnessed this market grow rapidly in volume and maturity. The 2008 markets saw further establishment of offset standards and the initial integration of registries, while continuing to serve as an incubation space for project types not currently accepted in the Kyoto markets,” said Katherine Hamilton, Managing Director of Ecosystem Marketplace, coauthor of the report and editor of Voluntary Carbon Markets.

The volume in the CCX market tripled to 69.2 million tonnes of carbon credits, whereas volume in the OTC market only increased by 26% to 54 million tonnes in 2008. CCX market value quadrupled in 2008, from $72 million in 2007 to $307 million in 2008, while OTC market value grew an estimated 52%, from $262 million in 2007 to $397 million in 2008.

Credits originating from projects in the E.U. & Eastern Europe declined sharply from 13% in 2007 to 1% in 2008. The U.S., however, remained the largest source of voluntary carbon credits of any country, supplying 28% of the OTC market, as well as the largest source of demand, at 39%.

Corporate social responsibility and public relations benefits remained the most popular customer motivations for buying voluntary offsets, according to credit sellers, and the most popular sources of carbon offsets were renewable energy projects, supplying more than 50% of the total volume of credits transacted in 2008.

The revised and updated second edition of Voluntary Carbon Markets is edited by Ricardo Bayon (a co-founder of EKO Asset Management Partners), Amanda Hawn (a Manager of Advisory services at New Forests) and Katherine Hamilton (Managing Director of Ecosystem Marketplace).


Story Source:

The above story is based on materials provided by Earthscan. Note: Materials may be edited for content and length.


Cite This Page:

Earthscan. "Voluntary Carbon Markets Double In Size And Value In 2008." ScienceDaily. ScienceDaily, 21 May 2009. <www.sciencedaily.com/releases/2009/05/090521144206.htm>.
Earthscan. (2009, May 21). Voluntary Carbon Markets Double In Size And Value In 2008. ScienceDaily. Retrieved August 21, 2014 from www.sciencedaily.com/releases/2009/05/090521144206.htm
Earthscan. "Voluntary Carbon Markets Double In Size And Value In 2008." ScienceDaily. www.sciencedaily.com/releases/2009/05/090521144206.htm (accessed August 21, 2014).

Share This




More Earth & Climate News

Thursday, August 21, 2014

Featured Research

from universities, journals, and other organizations


Featured Videos

from AP, Reuters, AFP, and other news services

California Drought Stings Honeybees, Beekeepers

California Drought Stings Honeybees, Beekeepers

AP (Aug. 21, 2014) — California's record drought is hurting honey supplies and raising prices for consumers. The lack of rainfall means fewer crops and wildflowers that provide the nectar bees need to make honey. (Aug. 21) Video provided by AP
Powered by NewsLook.com
Thousands Of Species Found In Lake Under Antarctic Ice

Thousands Of Species Found In Lake Under Antarctic Ice

Newsy (Aug. 20, 2014) — A U.S. team found nearly 4,000 species in a subglacial lake that hasn't seen sunlight in millennia, showing life can thrive even under the ice. Video provided by Newsy
Powered by NewsLook.com
Unsustainable Elephant Poaching Killed 100K In 3 Years

Unsustainable Elephant Poaching Killed 100K In 3 Years

Newsy (Aug. 20, 2014) — Poachers have killed 100,000 elephants between 2010 and 2012, as the booming ivory trade takes its toll on the animals in Africa. Video provided by Newsy
Powered by NewsLook.com
Charter Schools Alter Post-Katrina Landscape

Charter Schools Alter Post-Katrina Landscape

AP (Aug. 20, 2014) — Nine years after Hurricane Katrina, charter schools are the new reality of public education in New Orleans. The state of Louisiana took over most of the city's public schools after the killer storm in 2005. (Aug. 20) Video provided by AP
Powered by NewsLook.com

Search ScienceDaily

Number of stories in archives: 140,361

Find with keyword(s):
 
Enter a keyword or phrase to search ScienceDaily for related topics and research stories.

Save/Print:
Share:  

Breaking News:
from the past week

In Other News

... from NewsDaily.com

Science News

Health News

Environment News

Technology News



Save/Print:
Share:  

Free Subscriptions


Get the latest science news with ScienceDaily's free email newsletters, updated daily and weekly. Or view hourly updated newsfeeds in your RSS reader:

Get Social & Mobile


Keep up to date with the latest news from ScienceDaily via social networks and mobile apps:

Have Feedback?


Tell us what you think of ScienceDaily -- we welcome both positive and negative comments. Have any problems using the site? Questions?
Mobile iPhone Android Web
Follow Facebook Twitter Google+
Subscribe RSS Feeds Email Newsletters
Latest Headlines Health & Medicine Mind & Brain Space & Time Matter & Energy Computers & Math Plants & Animals Earth & Climate Fossils & Ruins