| |
Newsroom /
Industry
/
Industry
/
The US Federal Emissions System to Drive the Global Carbon Market
The US Federal Emissions System to Drive the Global Carbon Market
In 2009, the global carbon market was approximately $136 billion.
Hyderabad,
AP,
India
(prbd.net)
02/05/2010
"The US Federal Emissions System to Drive the Global Carbon Market"
In 2009, the global carbon market was approximately $136 billion. It is estimated that a global carbon market of $2 trillion can be established by 2020 if a legal binding global climate treaty is signed as well as a federal emission trading system is established in the US.
In order to establish a strong carbon market in the US, “cap and trade” scheme was introduced under which a carbon emission limit (cap) is set for companies, which when unable to achieve, can buy allowances from other companies. But, this system is facing opposition from Republicans in the U.S. Senate and doubts persist whether the bill related to this system will pass this year. However, other regulatory measures and “cap and refund” system are seen as alternatives to minimize greenhouse gas emissions.
The US carbon market was worth $2.7 billion in 2009; less than 3% of the total carbon permits traded under EU’s program, which equaled $93.9 billion in the same year. Majority of the carbon market in the US is derived through a 10-state cap and trade program in the northeast, known as the Regional Greenhouse Gas Initiative (RGGI) as well as offsets market, which accounted for $74 million in 2009.
Access the latest Clean Technology analysis for free at http://www.researchviews.com
About ResearchViews.com
ResearchViews is your number one portal for industry related news, research, analysis and deals data. ResearchViews offers up to the minute content produced by an expert team of industry analysts.
All content on the site is free to view and allows users to keep up to date with the latest developments in their chosen industry. Free daily and weekly newsletters provide a snapshot of the major issues affecting the industry. The site also features a research store, providing the user with access to premium business intelligence from some of the world's leading market research publishers.
About
GlobalData is a global market intelligence services company providing information research and analysis products and services.
|