Opinion & Analysis
Carbon Trading Scheme Pushing People off Their Land
Companies that release greenhouse gases can either agree to reduce their emissions or buy the right to keep polluting. But who really pays the price? Photo/REUTERS
With an estimated 123 million tons of carbon credits traded in 2008, the voluntary carbon market across the world nearly doubled from 65 million tons of credit traded in 2007.
A report published jointly by carbon market analysts at Ecosystems Marketplace and New Carbon Finance - both U.S.-based observers of global trading in emissions credits - indicated that voluntary carbon trading credits were worth $705 million, up from $331 million in 2007.
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