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Climate money evaporating — global carbon market down 35% in 2012 — peak carbon is in the rear view mirror

It’s just another day tracking the decline of the global warming meme.

Things were so pear-shaped for global carbon trading markets in 2012 that the World Bank canceled its annual State of the Carbon Market report. But how bad were they?  In their last report in 2012 the grand global total was $176b USD for the 2011 year. Since the World Bank figure are not publishing their tally any more, I’ve switched to the Reuters Point Carbon figures instead, which are issued in Euro.

Rather devastatingly, despite the fact the FTSE grew 6% in 2012 and  Euro Stoxx grew by 13% in 2012, the global carbon market (which is mostly an EU market) fell by a whopping 36% in 2012. Money printing is running rife and new money is pouring into asset markets worldwide, yet globally the money is running from invisible, rortable, pointless carbon certificates. We are past the peak, and over the hill. This parrot is almost dead.

Back in the heady days of 2008 the growth was described as “explosive” and it was predicted it would grow to $1.2 trillion by 2020 (about 880 billion €) .

Graph, Value, Global Carbon Markets

These figures are different to previous USD ones, but since most of the trading is in euro it is probably more useful.  In the USD graphs there were some spurious “rises” due to shifts in exchange rates. Even though a record in US dollars was claimed then the reality is that the carbon markets were flat for nearly four years.

Look out for new publicity claims saying market volume is growing, or even, more pointlessly, that the number of markets is growing. There is almost always a way to spin a “growing” headline.

2005 €9.4 bn  |  2006    €22bn   |   2007   €40bn   |   2008  €92bn   |  2009    €91 bn   |  2010  €92 bn  |  2011   €96bn  |  2012   €62bn

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