Carbon Hill Inc - 2009 saw carbon trading volumes soar by 68% despite the effects of the global financial crisis.
Carbon Hill Inc: A recent report has shown that the volume of the global carbon trading market grew by 68% even after enduring headwinds caused by the global financial and economic crisis.
Sources at Carbon Hill Inc say that the firm is encouraged by the numbers and they believe that the future bodes well given that much of the $136bn market is dominated in Europe. The consensus is that the United States will eventually make a greater contribution to the overall effort to reduce GHG emissions especially with the apparent commitment being made by the year-old Obama administration.
The Regional Greenhouse Gas Initiative (RGGI), the first mandatory cap-and-trade system in the United States, grew nearly ten times over in the last year to $2.5bn but Carbon Hill Inc said that the US carbon market remains a predominantly voluntary one which is controlled by large financial institutions and industrials looking to insulate themselves from emission reduction legislation in the future.
Cap-and-trade as a concept is proving particularly unpopular in the US given the country‘s near obsession with minimal taxation and large government but Carbon Hill Inc said it was hopeful that the current administration would approach the issue with the same decisiveness and determination it had demonstrated over healthcare reform.