| Key trends in the voluntary carbon markets 2007 | | Print | |
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A new "State of the Voluntary Carbon Markets" report has been released in May 2008. This year’s data collect process identified numerous key trends in the voluntary carbon markets. Among the highlights: • At least 65 million tonnes of carbon credits were transacted in 2007, a 165% increase over 2006 and a nearly 200% increase for the over-the-counter market only, with a total market value of $331 million • The average price paid to offset one tonne of CO2 or equivalent greenhouse gases rose 49% from 2006 to 2007, from $4.10/tonne to $6.10/tonne. Prices ranged from as a low as $1.80/tonne to as high as $300/tonne. • Volume in the over-the-counter (OTC) market nearly tripled in 2007, to 42 million tonnes of carbon credits. Combined with the 23 million tonnes transacted on the CCX in 2007, a confirmed total volume of 65 million tonnes was transacted in the voluntary carbon market in 2007. • Ecosystem Marketplace and New Carbon Finance valued the international OTC market at $258 million in 2007. Together with the CCX, which was valued at $72 million, the global voluntary market was worth a total of $331 million in 2007. This more than triples the 2006 market value of $97 million. • In the OTC market, energy efficiency, renewable energy, methane destruction, and forestry/land based projects were the most dominant project types in 2007. • The percentage of projects sourced from Asia nearly doubled, from 22% in 2006 to 39% in 2007, while the percentage of projects sourced from Africa actually declined both in market share (6% to 2%) and in absolute terms. • Buyers of voluntary credits tend to purchase offsets that most closely resemble those of the compliance market rather than indulge in the sort of experimentation and innovation that many believe the markets offer. The report has been issued by Ecosystem Marketplace and New Carbon Finance and is freely available at www.ecosystemmarketplace.com and www.newcarbonfinance.com . |