The global carbon market shrank for the first time in 2010, snapping five years of growth as a lack of clarity about the future climate framework hurt investment in the hottest year on record, a World Bank report showed.
The value of the market for greenhouse-gas permits and credits for cutting pollution fell to $141.9 billion last year from $143.7 billion in 2009, also because of fading prospects for the introduction of emissions-trading programs in countries including the U.S., according to the report published today during the Carbon Expo conference in Barcelona, Spain.
