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Carbon Market Value Dropped 36% in 2012 as Permits Declined

The value of global carbon market transactions plunged 36 percent last year as European Union permit prices fell and United Nations emission credits dropped to records, according to Bloomberg New Energy Finance.

The market’s value declined to 61 billion euros ($80 billion) from 95 billion euros in 2011, New Energy Finance said today in an e-mailed statement. The value of UN offset trading decreased 64 percent to 6 billion euros. Total trading volume jumped 26 percent to 10.7 billion metric tons, equivalent to a third of the world’s total carbon-dioxide emissions.