Saturday, 18 April 2015
Last updated 15 hours ago
Feb 25 2009 | 8:42am ET
The global carbon market will decline in value in 2009 for the first time since trading began, carbon finance consultancy Point Carbon said Tuesday.
The contraction will occur despite higher traded volumes, as the economic downturn has triggered a collapse in prices.
According Point Carbon, the global CO2 market is expected to be worth EUR 62.6 billion ($80 billion) in 2009, compared to EUR 92 billion ($118 billion) in 2008. The values are based on Point Carbon's price forecasts for European Union Allowances and secondary Certified Emissions Reduction credits.
Trade volumes, on the other hand, are expected to rise 30% this year to 5.9 billion metric tons of carbon dioxide. In 2008, trades totaling 4.9 billion metric tons were made.
The EU’s Emissions Trading Scheme (ETS) will continue to dominate the carbon market in 2009, according to Point Carbon, with trade volumes up 24% year on year to 3.8 billion metric tons. Market value, however, will fall 33% to EUR 45.2 billion ($58 billion).
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…