North American CO2 market value set to double to $782 mln | Point Carbon

The volume of carbon permits and credits traded in North America is set to double in 2012, with as many as 179 million tonnes expected to change hands as California and Quebec’s carbon markets come to life, a new report by Thomson Reuters Point Carbon, Environmental Leader reports.

The news service said the volume of permits and credits traded could reach 179 million tons, valued at $782 million. It also said (via Business Green) that the WCI, a market across California and five Canadian provinces, will become the biggest North American market by value. In so doing it will overtake the RGGI, an agreement between nine north-eastern states. Point Carbon predicts that the WCI will distribute 24 million metric tons of allowances later this year in California and Quebec, for use in 2013.

For more on this story, visit: North American CO2 market value set to double to $782 mln – News – Point Carbon.

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