Globally, turnover related to emissions trading rose 34% year-on-year in 2019 to reach €194bn (£163bn), new research has revealed.
Pictured: The Cottam coal power station, which ceased generation in September 2019. Image: EDF
Conducted by financial markets analysis giant Refinitiv, the analysis compared emissions trading data both globally and nationally.
On a global basis, it found that turnover in the carbon market in 2019 was five times greater than in 2017. Refinitiv attributes this growth largely to improvements in policy, made off the back of the IPCC’s landmark reports on climate change and resulting swell in climate activism. In all major markets, the analysis notes, carbon prices have risen or are predicted to rise in the near future, as market rules are