Publication:
State and Trends of the Carbon Market 2012

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dc.contributor.authorKossoy, Alexandre
dc.contributor.authorGuigon, Pierre
dc.date.accessioned2013-05-08T21:05:29Z
dc.date.available2013-05-08T21:05:29Z
dc.date.issued2012-05
dc.description.abstractThe 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.en
dc.identifier.doi10.1596/13335
dc.identifier.urihttps://hdl.handle.net/10986/13336
dc.language.isoen_US
dc.publisherWorld Bank, Washington, DC
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectabatement
dc.subjectaccount holder
dc.subjectaccount holders
dc.subjectAccounting
dc.subjectacid
dc.subjectacid production
dc.subjectAir
dc.subjectAllocation
dc.subjectammonia
dc.subjectannual emissions
dc.subjectannual greenhouse gas
dc.subjectanthropogenic greenhouse
dc.subjectanthropogenic greenhouse gas
dc.subjectarbitrage
dc.subjectasset classes
dc.subjectauction
dc.subjectauctions
dc.subjectAverage Price
dc.subjectaverage prices
dc.subjectBank Markets
dc.subjectcalculation
dc.subjectcapital markets
dc.subjectcapital stock
dc.subjectcaps
dc.subjectCARB
dc.subjectcarbon
dc.subjectCarbon Allowance
dc.subjectcarbon allowances
dc.subjectCarbon Capture
dc.subjectcarbon credits
dc.subjectCarbon Dioxide
dc.subjectcarbon economy
dc.subjectcarbon exchanges
dc.subjectcarbon finance
dc.subjectcarbon leakage
dc.subjectCarbon Market
dc.subjectCarbon markets
dc.subjectcarbon offset
dc.subjectCarbon Price
dc.subjectcarbon prices
dc.subjectcarbon sinks
dc.subjectcarbon taxes
dc.subjectcarbon technologies
dc.subjectcarbon trading
dc.subjectCarbon Units
dc.subjectcentral bank
dc.subjectCertified Emission Reductions
dc.subjectCH4
dc.subjectChemical Oxygen Demand
dc.subjectClean Energy
dc.subjectClimate
dc.subjectClimate Change
dc.subjectclimate change mitigation
dc.subjectClimate damages
dc.subjectclimate economics
dc.subjectclimate policy
dc.subjectclimate science
dc.subjectco
dc.subjectCO2
dc.subjectCoal
dc.subjectCoal Mine
dc.subjectcolors
dc.subjectcombustion
dc.subjectcommodity markets
dc.subjectconservation of forests
dc.subjectcost of fuel
dc.subjectcredibility
dc.subjectcredit rating
dc.subjectdebt
dc.subjectdebt crisis
dc.subjectdepressed prices
dc.subjectdeveloping countries
dc.subjectDevelopment Bank
dc.subjectDNA
dc.subjecteconomic risk
dc.subjectEcosystem
dc.subjectelectricity
dc.subjectelectricity generation
dc.subjectEmission
dc.subjectemission allowances
dc.subjectemission levels
dc.subjectEmission Reduction
dc.subjectEmission Reduction Project
dc.subjectemission reduction target
dc.subjectEmission Reduction Units
dc.subjectemission reductions
dc.subjectEmissions
dc.subjectemissions allowances
dc.subjectemissions data
dc.subjectEmissions from Deforestation
dc.subjectemissions reductions
dc.subjectenergy consumption
dc.subjectEnergy Efficiency
dc.subjectenergy efficiency measures
dc.subjectEnergy Market
dc.subjectenergy mix
dc.subjectenergy subsidies
dc.subjectequipment
dc.subjectExpenditures
dc.subjectfinancial crisis
dc.subjectfinancial instrument
dc.subjectFinancial Instruments
dc.subjectfinancial markets
dc.subjectfinancial support
dc.subjectfloor price
dc.subjectForest
dc.subjectForest Degradation
dc.subjectForestry
dc.subjectforward market
dc.subjectfossil fuel
dc.subjectfossil fuels
dc.subjectFramework Convention on Climate Change
dc.subjectfraud
dc.subjectfree allocation
dc.subjectfree allowances
dc.subjectfreeze
dc.subjectfuels
dc.subjectfungible
dc.subjectFutures
dc.subjectFutures Exchange
dc.subjectFutures market
dc.subjectgases
dc.subjectgeneration mix
dc.subjectGHG
dc.subjectGHGs
dc.subjectglobal carbon market
dc.subjectglobal emissions
dc.subjectGlobal Markets
dc.subjectGlobal Warming
dc.subjectgovernment policy
dc.subjectGreenhouse
dc.subjectGreenhouse Gas
dc.subjectgreenhouse gas emissions
dc.subjectGreenhouse Gas Reduction
dc.subjectGross Domestic Product
dc.subjectHFCs
dc.subjectholding
dc.subjecthost country
dc.subjectHydrochlorofluorocarbon
dc.subjecthydrofluorocarbons
dc.subjectimpacts of climate change
dc.subjectInternal Rate of Return
dc.subjectinternational credits
dc.subjectInternational Emissions
dc.subjectInternational Finance
dc.subjectInternational Financial Institution
dc.subjectinternational offsets
dc.subjectInvestment Bank
dc.subjectinvestment decision
dc.subjectInvestment funds
dc.subjectiron
dc.subjectissuance
dc.subjectLand Use
dc.subjectLand Use Change
dc.subjectLand-Use Change
dc.subjectLandfill
dc.subjectLandfill Gas
dc.subjectlegal agreement
dc.subjectlegal instrument
dc.subjectlegal obligation
dc.subjectlevy
dc.subjectliability
dc.subjectliquidity
dc.subjectlow-carbon
dc.subjectlower demand
dc.subjectlower energy consumption
dc.subjectmacroeconomic uncertainty
dc.subjectmarket analyst
dc.subjectmarket analysts
dc.subjectmarket conditions
dc.subjectmarket design
dc.subjectmarket infrastructure
dc.subjectMarket instruments
dc.subjectMarket Mechanism
dc.subjectmarket mechanisms
dc.subjectMarket oversight
dc.subjectmarket participants
dc.subjectmarket player
dc.subjectmarket players
dc.subjectmarket price
dc.subjectmarket reforms
dc.subjectMarket value
dc.subjectMarketplace
dc.subjectMethane
dc.subjectMonetary Fund
dc.subjectN2O
dc.subjectNational accounts
dc.subjectNitrous Oxide
dc.subjectnuclear power
dc.subjectoil equivalent
dc.subjectOxygen
dc.subjectPerfluorocarbon
dc.subjectperfluorocarbons
dc.subjectpetrochemicals
dc.subjectpolicy scenario
dc.subjectportfolio
dc.subjectpotential demand
dc.subjectpower plants
dc.subjectpower sector
dc.subjectpower stations
dc.subjectPresent Value
dc.subjectPrice Floor
dc.subjectprice fluctuations
dc.subjectPrice Mechanism
dc.subjectprice risk
dc.subjectprice signal
dc.subjectprice support
dc.subjectprimary market
dc.subjectprivate capital
dc.subjectRegional Greenhouse Gas Initiative
dc.subjectRenewable Energy
dc.subjectReserve
dc.subjectretail
dc.subjectrisk management
dc.subjectrisky assets
dc.subjectsale
dc.subjectsales
dc.subjectscenarios
dc.subjectsecondary market
dc.subjectsecondary market price
dc.subjectset aside
dc.subjectSF6
dc.subjectspot market
dc.subjectspread
dc.subjectSulfur
dc.subjectSulfur Hexafluoride
dc.subjectsurplus
dc.subjectsurplus of allowances
dc.subjectsustainable forest
dc.subjectsustainable forest management
dc.subjectTax
dc.subjecttemperature
dc.subjecttotal sale
dc.subjecttrading system
dc.subjecttranche
dc.subjectTransaction
dc.subjectTreasury
dc.subjectuncertainties
dc.subjectUNEP
dc.subjectVolatility
dc.subjectwind
dc.subjectwithdrawal
dc.titleState and Trends of the Carbon Market 2012en
dspace.entity.typePublication
okr.crosscuttingsolutionareaClimate Change
okr.date.disclosure2013-04-22
okr.date.doiregistration2025-05-09T11:20:29.742971Z
okr.doctypePublications & Research::Working Paper
okr.doctypePublications & Research
okr.globalpracticeMacroeconomics and Fiscal Management
okr.globalpracticeEnvironment and Natural Resources
okr.globalpracticeFinance and Markets
okr.globalpracticeFinance and Markets
okr.identifier.report76837
okr.language.supporteden
okr.topicEnvironment::Carbon Policy and Trading
okr.topicEnvironment::Climate Change Mitigation and Green House Gases
okr.topicFinance and Financial Sector Development::Debt Markets
okr.topicMacroeconomics and Economic Growth::Climate Change Economics
okr.topicMacroeconomics and Economic Growth::Markets and Market Access
okr.unitPolicy and Operations (SECPO)
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