State and Trends of the Carbon Market 2003

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dc.creatorLecocq, Franck
dc.creatorCapoor, Karan
dc.date2013-05-14T19:38:32Z
dc.date2013-05-14T19:38:32Z
dc.date2003-12-01
dc.date.accessioned2026-07-01T01:16:41Z
dc.descriptionThe emerging carbon market encompasses both project-based emission reduction transactions, whereby a buyer participates in the financing of a project which reduces greenhouse gases (GHGs) emissions, compared with what would have happened otherwise, and gets some of the emission reductions (ERs) thus generated in return; and, trades of GHG emission allowances allocated under existing, or incoming, cap-and-trade GHG emissions control regimes. This Review of the state and trends of the carbon market as of November 2003, based on material provided by Evolution Markets LLC, Natsource LLC and PointCarbon, and on direct interviews with market participants, suggest that: volume exchanged on the carbon market has more than doubled since 2002; buyers are governments, and public-private partnerships like the Prototype Carbon Fund; in 2003, nine out of ten tones of emission reductions originate from projects located in transition economies or developing countries; prices differ depending on the segment of the market, and on the structure of the transaction; allowance markets dominate in number of transactions, but volume exchanged remains small compared with project-based transactions; and, because of long lead time between project preparation and first "yield" of emission reductions, and absent clarification of the validity of project-based emission reductions beyond 2012, the window of opportunity for project-based transactions is rapidly closing. The report further discusses volumes of GHG Emission Reductions (ERs) up to 2012 only, to provide an idea of the volume that might be available for compliance, since 2012 is the end of the first commitment period of the Kyoto Protocol, and a milestone in most regimes. For projects where vintages 2013 and beyond are purchased (in particular in forestry-related projects), it was assumed an even annual accrual of ERs, unless known otherwise. Also, throughout the paper, volumes are reported in metric tones of CO2 equivalent (tCO2e).
dc.formatapplication/pdf
dc.formattext/plain
dc.identifierhttps://hdl.handle.net/10986/13416
dc.identifierhttps://doi.org/10.1596/13416
dc.identifier.urihttp://hdl.handle.net/123456789/416654
dc.languageen_US
dc.publisherWorld Bank, Washington, DC
dc.rightsCC BY 3.0 IGO
dc.rightshttp://creativecommons.org/licenses/by/3.0/igo
dc.rightsWorld Bank
dc.subjectabatement
dc.subjectabatement costs
dc.subjectAllowance markets
dc.subjectallowance trading
dc.subjectapproach
dc.subjectatmosphere
dc.subjectauction
dc.subjectauctions
dc.subjectBalance
dc.subjectBiomass
dc.subjectbiomass waste
dc.subjectbrand
dc.subjectCarbon
dc.subjectcarbon asset
dc.subjectCarbon Finance
dc.subjectCarbon Finance Business
dc.subjectCarbon Fund
dc.subjectCarbon Funds
dc.subjectCarbon Market
dc.subjectCarbon Market Development
dc.subjectCarbon Market report
dc.subjectcarbon prices
dc.subjectcarbon purchase
dc.subjectcarbon transactions
dc.subjectCertified Emission Reduction
dc.subjectClean Development
dc.subjectClean Development Mechanism
dc.subjectclean technologies
dc.subjectclimate change
dc.subjectClimate Change Levy
dc.subjectClimate Exchange
dc.subjectClimate Trust
dc.subjectcoal
dc.subjectcommercial energy
dc.subjectcommercial energy consumption
dc.subjectcompliance costs
dc.subjectdeveloped countries
dc.subjectdomestic emissions
dc.subjectElectric Power
dc.subjectelectricity
dc.subjectemission
dc.subjectemission limitations
dc.subjectemission reduction
dc.subjectemission reduction transactions
dc.subjectEmission Reduction Units
dc.subjectemission reductions
dc.subjectEmission Trading
dc.subjectemissions
dc.subjectemissions allowances
dc.subjectemissions reductions
dc.subjectenergy consumption
dc.subjectEnergy Efficiency
dc.subjectenvironmental
dc.subjectequilibrium
dc.subjectexcess emissions
dc.subjectexchange rate
dc.subjectforestry
dc.subjectFramework Convention on Climate Change
dc.subjectFuel
dc.subjectFuel Switching
dc.subjectgas capture
dc.subjectGas Market
dc.subjectgreenhouse
dc.subjectGreenhouse Gas
dc.subjectgreenhouse gas emissions
dc.subjectgreenhouse gases
dc.subjectincome
dc.subjectInternational Emissions
dc.subjectInternational Energy Agency
dc.subjectInternational Markets
dc.subjectJoint Implementation
dc.subjectland use
dc.subjectland use change
dc.subjectlandfill
dc.subjectlandfill gas
dc.subjectlandfill-gas
dc.subjectMarket Development
dc.subjectmarket risk
dc.subjectmarket segment
dc.subjectMARKET STRUCTURE
dc.subjectmarketing
dc.subjectmarketplace
dc.subjectMember States
dc.subjectmethane
dc.subjectmethane capture
dc.subjectprice index
dc.subjectpublic relations
dc.subjectpurchasing
dc.subjectrenewable energy
dc.subjectretail
dc.subjectrisk management
dc.subjectSpot prices
dc.subjectsustainable development
dc.subjecttradable emissions
dc.subjectvehicles
dc.subjectvoluntary commitments
dc.subjectvoluntary emission
dc.subjectWind
dc.titleState and Trends of the Carbon Market 2003

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