Voluntary carbon market doubles in 2008
The voluntary carbon market is maturing fast and more than doubled in size last year, according to a new study from research firms Ecosystem Marketplace and New Carbon Finance.
The report assessed the voluntary market for carbon credits, which operates outside formal UN and EU-backed carbon trading schemes such as the Clean Development Mechanism and Emissions Trading Scheme (ETS).
It found that the value of the market - which consists of carbon credits from offset providers and credits traded in the voluntary Chicago Climate Exchange cap-and-trade scheme - doubled last year to $705m (£449m), while the volume of traded credits also doubled to an estimated 123 million
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