Download State And Trends Of The Carbon Market 2004 (World Bank by Franck Lecocq PDF

By Franck Lecocq

Country and tendencies of the Carbon marketplace 2004 examines the prestige of the rising marketplace for greenhouse gases emissions allowances and greenhouse gases emission relief initiatives ВЎX the so-called "carbon market." in line with a database of 354 transactions, this learn indicates that the marketplace has been growing to be gradually during the last years, with call for nonetheless seriously centred and provide transferring from Latin the US to Asia. It additionally explores the determinants of the cost of carbon, displaying that, within the absence of a regular agreement for the acquisition of emission rate reductions, the constitution of the transaction has a powerful effect at the rate. This learn reveals that the carbon marketplace is turning out to be gradually. a complete of sixty four million metric tones of carbon dioxide an identical (tCO2e) has been exchanged via initiatives from January to might 2004, approximately up to throughout the complete yr 2003 (78 million). moment, the call for for emission mark downs is still seriously focused, with a couple of european Governments and eastern organisations the biggest dealers. 3rd, Asia is now the biggest provider of emission discount rates, through Latin the USA, constructed economies, and japanese Europe. final, costs of project-based emission discount rates in early 2004 have remained primarily solid in comparison with 2003. within the absence of a customary agreement, those costs strongly rely on the constitution of the transaction, particularly risk-sharing among dealers and dealers.

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5 million tons have been exchanged in 2004 alone, in about 25 trades. Nearly 750,000 tCO2e had been exchanged in the last quarter of 2003. We do not have price data for this market. CHAPTER 7 Market Outlook T his chapter discusses what we perceive as major drivers and issues for the carbon market over the next year or two. We begin by discussing the global regulatory picture and its impact on the market, before turning to project-based transactions and the combined impact of regulatory uncertainty and lead-time issues.

As noted in Table 1, our database includes price information in only 60 percent of the transactions, which represent 55 percent of the total volume exchanged. In addition, reporting practices are not uniform across buyers: while most public buyers are required to disclose the prices they are paying (if not transaction by transaction, at least portfolio-wide), most private buyers are under no such obligation. This creates an obvious bias in our price analysis. Given these two constraints, we have chosen to discuss prices only for two broad sets of commodities: “not for Kyoto” compliance ERs, and “for Kyoto” compliance ERs.

31. Based on the experience of the Prototype Carbon Fund, and on energy and infrastructure projects developed by the World Bank. 32. Some types of mitigation projects, however, involve lower project lead-time. HFC23 destruction is one example. CHAPTER 8 Conclusion T his analysis paints the picture of a rapidly growing carbon market that is fast approaching maturity. With the clarification of rules governing the EU-ETS, a potentially strong driver for the demand of allowances and project-based transactions has emerged.

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