From today's FT. Clearly the problem isn't getting China to play along, it's
getting the US to play along.
Robert Carbon credits market triples to $30bn By Fiona Harvey in Cologne Published: May 3 2007 03:00 | Last updated: May 3 2007 03:00 The market in carbon credits grew faster than expected last year, tripling to $30bn from $10bn in 2005, the World Bank said yesterday. But the fledgling carbon credit industry is struggling to keep up with demand, the Financial Times has found, as there is now a shortage of skilled technicians to monitor carbon reduction projects and verify the claimed emissions cuts are taking place. Nearly $25bn (£13bn) came from transactions under the European Union's emissions trading scheme, while $5bn was from the sale of carbon credits by developing countries. China was the biggest beneficiary, selling 61 per cent of last year's carbon credits, while India took 12 per cent and Brazil 4 per cent. Credits normally sell for between $5 and $10. The UK was the biggest purchaser of credits, buying 50 per cent of supply. <snip>
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