Voluntary Carbon Markets Nearly Doubled in 2008, Reaching 123.4MtCO2e

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The latest report on the Voluntary Carbon Market is out with some encouraging conclusions and findings. This report provides invaluable information on developments in the Carbon Market outside the various sanctioned and regulated carbon markets.
Some key findings:
  • Over the past several years, these markets have not only become an opportunity for citizen consumer action, but also an alternative source of carbon finance and an incubator for carbon market innovation
    The formation of coalitions to encourage self-regulation; and increased market transparency.
    The voluntary carbon markets, like any other commodity market, were not immune to the over-arching forces of the economy and regulatory developments.
    In 2008 the CCX overtook the OTC market in terms of tracked volume, it also overtook the OTC market in terms of growth. CCX trades tripled in 2008 (202%), whereas the OTC market grew by 26%—a clear break from the trend in 2007, when the OTC market tripled, while the CCX only doubled.
    The voluntary carbon markets were estimated to be valued at US$705 million2 in 2008, more than twice their value in 2007 ($335 million).
    The average price of a voluntary carbon credit transacted on the OTC market was $7.34/tCO2e in 2008, up 22% from $6.10/tCO2e in 2007 and up 79% from $4.10/tCO2e in 2006. This compares to an average price of $4.43/tCO2e on the CCX. The OTC market transacted an estimated $396.7 million (56% of the total market), whereas the CCX market transacted an estimated $306.7 million (44%).
The entire report could be read here:

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