Size of the Global Carbon Market in 2012?

31Jan09

New Carbon Finance have recently come out with their estimate of the size of the carbon market in 2008 – and it was US$118 billion.

That prompted me to revisit some work I did in 2003 on the size of the carbon market. At that time, I estimated the size would be US$150 billion by 2012. In fact, we used that number in some reports and even press releases at the time.

Its strange to think how attitudes to the carbon market and climate change have evolved since then. At the time there were as many believers as non-believers (in climate change I mean) and the US$150 billion estimate appeared overly optimistic. Now, with the development in policy particularly in the US, and in light of the 2008 numbers, the US$150 billion is going to be an underestimate.

Anyone like to make a new estimate on the size of the carbon market in 2012? And then what about 2020?

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