Carbon Market Trading Rose 61% Last Year

Trading in global carbon markets rose 61% last year, and European carbon trading during the first half of 2009 exceeded all of the activity during 2008, according to a report. International Financial Services, London, or IFSL, said global markets trading in carbon dioxide emissions last year rose 61% from 2007 to 4.81 billion metric tons, as opposed to 71% growth between 2006 and 2007. And trading in the European Union's Emissions Trading System rose to 3.2 billion tons during the first six months of the year, above the 2.7 billion tons traded during all of 2008, the group said. The 2008 growth came as the U.S., Australia, New Zealand and Japan plan their so-called "cap-and-trade" systems.