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Global carbon markets' total value increased 9 percent to €48.4bn ($52.6bn) in 2015, boosted by North American markets, which grew 121 percent in terms of volume and 220 percent in terms of value, according to Thomson Reuters' annual Carbon Market Monitor.
Thomas Reuters forecasts global carbon markets will continue to grow in 2016, with the overall value of carbon markets to growing by a quarter this year.
In its annual carbon market forecast, The Climate Trust predicts carbon pricing will play a major part in helping countries meet their emissions reductions targets in the Paris climate deal. Private corporations' efforts to reduce their carbon footprint will affect the success of the COP21 agreement and 2016 will be the year that "climate risk gets real for private industry," The Climate Trust predicts.
"How corporations are monitoring, managing, and planning for the associated risks and opportunities posed by a changing climate are becoming widely recognized. CFOs across the globe are heeding the call to better manage what tomorrow's world looks like," The Climate Trust executive director Sean Penrith said. He cites Tata Consultancy research that finds "CFOs are redrafting their approach to risk, moving from a stance of risk-averse to risk-ready instead."
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