State and Trends of the Carbon Market 2012
The total value of the carbon market grew by 11 percent in 2011, to $176 billion, and transaction volumes reached a new high of 10.3 billion tons of carbon dioxide equivalent (CO2e). This growth took place in the face of economic turbulence, growing long-term oversupply in the EU Emissions Trading S...
| Main Authors: | , |
|---|---|
| Format: | Working Paper |
| Language: | en_US |
| Published: |
World Bank, Washington, DC
2013
|
| Subjects: | |
| Online Access: | http://hdl.handle.net/10986/13336 |
| id |
okr-10986-13336 |
|---|---|
| recordtype |
oai_dc |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
en_US |
| topic |
abatement account holder account holders Accounting acid acid production Air Allocation ammonia annual emissions annual greenhouse gas anthropogenic greenhouse anthropogenic greenhouse gas arbitrage asset classes auction auctions Average Price average prices Bank Markets calculation capital markets capital stock caps CARB carbon Carbon Allowance carbon allowances Carbon Capture carbon credits Carbon Dioxide carbon economy carbon exchanges carbon finance carbon leakage Carbon Market Carbon markets carbon offset Carbon Price carbon prices carbon sinks carbon taxes carbon technologies carbon trading Carbon Units central bank Certified Emission Reductions CH4 Chemical Oxygen Demand Clean Energy Climate Climate Change climate change mitigation Climate damages climate economics climate policy climate science co CO2 Coal Coal Mine colors combustion commodity markets conservation of forests cost of fuel credibility credit rating debt debt crisis depressed prices developing countries Development Bank DNA economic risk Ecosystem electricity electricity generation Emission emission allowances emission levels Emission Reduction Emission Reduction Project emission reduction target Emission Reduction Units emission reductions Emissions emissions allowances emissions data Emissions from Deforestation emissions reductions energy consumption Energy Efficiency energy efficiency measures Energy Market energy mix energy subsidies equipment Expenditures financial crisis financial instrument Financial Instruments financial markets financial support floor price Forest Forest Degradation Forestry forward market fossil fuel fossil fuels Framework Convention on Climate Change fraud free allocation free allowances freeze fuels fungible Futures Futures Exchange Futures market gases generation mix GHG GHGs global carbon market global emissions Global Markets Global Warming government policy Greenhouse Greenhouse Gas greenhouse gas emissions Greenhouse Gas Reduction Gross Domestic Product HFCs holding host country Hydrochlorofluorocarbon hydrofluorocarbons impacts of climate change Internal Rate of Return international credits International Emissions International Finance International Financial Institution international offsets Investment Bank investment decision Investment funds iron issuance Land Use Land Use Change Land-Use Change Landfill Landfill Gas legal agreement legal instrument legal obligation levy liability liquidity low-carbon lower demand lower energy consumption macroeconomic uncertainty market analyst market analysts market conditions market design market infrastructure Market instruments Market Mechanism market mechanisms Market oversight market participants market player market players market price market reforms Market value Marketplace Methane Monetary Fund N2O National accounts Nitrous Oxide nuclear power oil equivalent Oxygen Perfluorocarbon perfluorocarbons petrochemicals policy scenario portfolio potential demand power plants power sector power stations Present Value Price Floor price fluctuations Price Mechanism price risk price signal price support primary market private capital Regional Greenhouse Gas Initiative Renewable Energy Reserve retail risk management risky assets sale sales scenarios secondary market secondary market price set aside SF6 spot market spread Sulfur Sulfur Hexafluoride surplus surplus of allowances sustainable forest sustainable forest management Tax temperature total sale trading system tranche Transaction Treasury uncertainties UNEP Volatility wind withdrawal |
| spellingShingle |
abatement account holder account holders Accounting acid acid production Air Allocation ammonia annual emissions annual greenhouse gas anthropogenic greenhouse anthropogenic greenhouse gas arbitrage asset classes auction auctions Average Price average prices Bank Markets calculation capital markets capital stock caps CARB carbon Carbon Allowance carbon allowances Carbon Capture carbon credits Carbon Dioxide carbon economy carbon exchanges carbon finance carbon leakage Carbon Market Carbon markets carbon offset Carbon Price carbon prices carbon sinks carbon taxes carbon technologies carbon trading Carbon Units central bank Certified Emission Reductions CH4 Chemical Oxygen Demand Clean Energy Climate Climate Change climate change mitigation Climate damages climate economics climate policy climate science co CO2 Coal Coal Mine colors combustion commodity markets conservation of forests cost of fuel credibility credit rating debt debt crisis depressed prices developing countries Development Bank DNA economic risk Ecosystem electricity electricity generation Emission emission allowances emission levels Emission Reduction Emission Reduction Project emission reduction target Emission Reduction Units emission reductions Emissions emissions allowances emissions data Emissions from Deforestation emissions reductions energy consumption Energy Efficiency energy efficiency measures Energy Market energy mix energy subsidies equipment Expenditures financial crisis financial instrument Financial Instruments financial markets financial support floor price Forest Forest Degradation Forestry forward market fossil fuel fossil fuels Framework Convention on Climate Change fraud free allocation free allowances freeze fuels fungible Futures Futures Exchange Futures market gases generation mix GHG GHGs global carbon market global emissions Global Markets Global Warming government policy Greenhouse Greenhouse Gas greenhouse gas emissions Greenhouse Gas Reduction Gross Domestic Product HFCs holding host country Hydrochlorofluorocarbon hydrofluorocarbons impacts of climate change Internal Rate of Return international credits International Emissions International Finance International Financial Institution international offsets Investment Bank investment decision Investment funds iron issuance Land Use Land Use Change Land-Use Change Landfill Landfill Gas legal agreement legal instrument legal obligation levy liability liquidity low-carbon lower demand lower energy consumption macroeconomic uncertainty market analyst market analysts market conditions market design market infrastructure Market instruments Market Mechanism market mechanisms Market oversight market participants market player market players market price market reforms Market value Marketplace Methane Monetary Fund N2O National accounts Nitrous Oxide nuclear power oil equivalent Oxygen Perfluorocarbon perfluorocarbons petrochemicals policy scenario portfolio potential demand power plants power sector power stations Present Value Price Floor price fluctuations Price Mechanism price risk price signal price support primary market private capital Regional Greenhouse Gas Initiative Renewable Energy Reserve retail risk management risky assets sale sales scenarios secondary market secondary market price set aside SF6 spot market spread Sulfur Sulfur Hexafluoride surplus surplus of allowances sustainable forest sustainable forest management Tax temperature total sale trading system tranche Transaction Treasury uncertainties UNEP Volatility wind withdrawal Kossoy, Alexandre Guigon, Pierre State and Trends of the Carbon Market 2012 |
| description |
The total value of the carbon market grew by 11 percent in 2011, to $176 billion, and transaction volumes reached a new high of 10.3 billion tons of carbon dioxide equivalent (CO2e). This growth took place in the face of economic turbulence, growing long-term oversupply in the EU Emissions Trading Scheme (EU ETS) and plummeting carbon prices. By far, the largest segment of the carbon market was that of EU Allowances (EUAs), valued at $148 billion. With the end of the first commitment period of the Kyoto Protocol in 2012, the value of the pre-2013 primary certified emission reduction (CER), emission reduction unit (ERU) and assigned amount unit (AAU) markets declined in 2011. At the same time, the post-2012 primary Clean Development Mechanism (CDM) market increased by a robust 63 percent, to US$2 billion, despite depressed prices and limited long-term-visibility. Against this backdrop, several new domestic and regional carbon market initiatives gained traction in both developed and developing economies in 2011. Five new jurisdictions (i.e., Australia, California, Québec, Republic of Korea, and Mexico) passed legislations laying the foundation for cap-and-trade schemes. Together, these initiatives will drive substantial resources towards low-carbon investments and they have the potential to unleash a truly transformational carbon market, in support of a global solution to the climate challenge. |
| format |
Publications & Research :: Working Paper |
| author |
Kossoy, Alexandre Guigon, Pierre |
| author_facet |
Kossoy, Alexandre Guigon, Pierre |
| author_sort |
Kossoy, Alexandre |
| title |
State and Trends of the Carbon Market 2012 |
| title_short |
State and Trends of the Carbon Market 2012 |
| title_full |
State and Trends of the Carbon Market 2012 |
| title_fullStr |
State and Trends of the Carbon Market 2012 |
| title_full_unstemmed |
State and Trends of the Carbon Market 2012 |
| title_sort |
state and trends of the carbon market 2012 |
| publisher |
World Bank, Washington, DC |
| publishDate |
2013 |
| url |
http://hdl.handle.net/10986/13336 |
| _version_ |
1764423221067644928 |
| spelling |
okr-10986-133362021-04-23T14:03:07Z State and Trends of the Carbon Market 2012 Kossoy, Alexandre Guigon, Pierre abatement account holder account holders Accounting acid acid production Air Allocation ammonia annual emissions annual greenhouse gas anthropogenic greenhouse anthropogenic greenhouse gas arbitrage asset classes auction auctions Average Price average prices Bank Markets calculation capital markets capital stock caps CARB carbon Carbon Allowance carbon allowances Carbon Capture carbon credits Carbon Dioxide carbon economy carbon exchanges carbon finance carbon leakage Carbon Market Carbon markets carbon offset Carbon Price carbon prices carbon sinks carbon taxes carbon technologies carbon trading Carbon Units central bank Certified Emission Reductions CH4 Chemical Oxygen Demand Clean Energy Climate Climate Change climate change mitigation Climate damages climate economics climate policy climate science co CO2 Coal Coal Mine colors combustion commodity markets conservation of forests cost of fuel credibility credit rating debt debt crisis depressed prices developing countries Development Bank DNA economic risk Ecosystem electricity electricity generation Emission emission allowances emission levels Emission Reduction Emission Reduction Project emission reduction target Emission Reduction Units emission reductions Emissions emissions allowances emissions data Emissions from Deforestation emissions reductions energy consumption Energy Efficiency energy efficiency measures Energy Market energy mix energy subsidies equipment Expenditures financial crisis financial instrument Financial Instruments financial markets financial support floor price Forest Forest Degradation Forestry forward market fossil fuel fossil fuels Framework Convention on Climate Change fraud free allocation free allowances freeze fuels fungible Futures Futures Exchange Futures market gases generation mix GHG GHGs global carbon market global emissions Global Markets Global Warming government policy Greenhouse Greenhouse Gas greenhouse gas emissions Greenhouse Gas Reduction Gross Domestic Product HFCs holding host country Hydrochlorofluorocarbon hydrofluorocarbons impacts of climate change Internal Rate of Return international credits International Emissions International Finance International Financial Institution international offsets Investment Bank investment decision Investment funds iron issuance Land Use Land Use Change Land-Use Change Landfill Landfill Gas legal agreement legal instrument legal obligation levy liability liquidity low-carbon lower demand lower energy consumption macroeconomic uncertainty market analyst market analysts market conditions market design market infrastructure Market instruments Market Mechanism market mechanisms Market oversight market participants market player market players market price market reforms Market value Marketplace Methane Monetary Fund N2O National accounts Nitrous Oxide nuclear power oil equivalent Oxygen Perfluorocarbon perfluorocarbons petrochemicals policy scenario portfolio potential demand power plants power sector power stations Present Value Price Floor price fluctuations Price Mechanism price risk price signal price support primary market private capital Regional Greenhouse Gas Initiative Renewable Energy Reserve retail risk management risky assets sale sales scenarios secondary market secondary market price set aside SF6 spot market spread Sulfur Sulfur Hexafluoride surplus surplus of allowances sustainable forest sustainable forest management Tax temperature total sale trading system tranche Transaction Treasury uncertainties UNEP Volatility wind withdrawal The total value of the carbon market grew by 11 percent in 2011, to $176 billion, and transaction volumes reached a new high of 10.3 billion tons of carbon dioxide equivalent (CO2e). This growth took place in the face of economic turbulence, growing long-term oversupply in the EU Emissions Trading Scheme (EU ETS) and plummeting carbon prices. By far, the largest segment of the carbon market was that of EU Allowances (EUAs), valued at $148 billion. With the end of the first commitment period of the Kyoto Protocol in 2012, the value of the pre-2013 primary certified emission reduction (CER), emission reduction unit (ERU) and assigned amount unit (AAU) markets declined in 2011. At the same time, the post-2012 primary Clean Development Mechanism (CDM) market increased by a robust 63 percent, to US$2 billion, despite depressed prices and limited long-term-visibility. Against this backdrop, several new domestic and regional carbon market initiatives gained traction in both developed and developing economies in 2011. Five new jurisdictions (i.e., Australia, California, Québec, Republic of Korea, and Mexico) passed legislations laying the foundation for cap-and-trade schemes. Together, these initiatives will drive substantial resources towards low-carbon investments and they have the potential to unleash a truly transformational carbon market, in support of a global solution to the climate challenge. 2013-05-08T21:05:29Z 2013-05-08T21:05:29Z 2012-05 http://hdl.handle.net/10986/13336 en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Publications & Research :: Working Paper Publications & Research |