Abstract
Overview
Introduction
Global and regional emissions trading markets are emerging and drive strategic
energy policy. The EU-ETS is a leading player and dominated carbon trading in
2006, it is pivotal to achieving a truly ' global' carbon trading scheme and
meeting the wider environmental challenge. The Clean Development Mechanism is
key to engaging non-EU participants such as China who dominate the CDM market.
Scope
- Analyzing regional carbon markets and the interaction with global carbon
programmes - comparing the EU ETS with alternative emissions reducing schemes
- Measuring the success of establishing mechanisms sell carbon permits
world-wide and quantifying where the major trade is occurring
- Insight into the constraints faced by the major players reaching their
carbon targets set out by the Kyoto protocol, in particular Phase 2 of EU ETS
- An assessment of carbon market fundamentals - supply, demand and
subsequently the carbon emissions schemes that attract investors
Report Highlights
Standardized exchange trade accounted for almost a quarter of the European
carbon market. The European Carbon Exchange (ECX) accounted for around three
quarters of all formalized emissions trading last year. Europe' s leading power
exchanges have used synergies with the carbon market to capture significant
ETS volume
171 states signed the Kyoto Protocol by June 2007. Under the Kyoto Protocol,
all Annex II countries have established emission quotas, in ratifying the
protocol, essentially agreeing to bear the costs of emission reductions. With
the EU viewed collectively as a single economy, it accounts for 27 of the 33
Annex II countries to ratify Kyoto
China dominates selling into the CDM - China' s rapidly growing, increasingly
carbon-intensive economy offers the greatest scope for cost-effective
Certified Emissions Reductions. Governments often invest in CERs to help meet
their overall Kyoto targets, while private investors may look to hedge their
exposure in regional markets like the EU ETS
Reasons to Purchase
- Establish the current level of trading in carbon and assess the drivers
for global carbon trading and alternative abatement mechanisms
- Understand non-EU participation in the global carbon market arena and
assess the key players
- Examine how the EU and trading in CDMs will shape the future of carbon
trading achieving the objectives et out in the Kyoto protocol
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