Global Carbon Markets Top $800 Billion Despite Falling Trade Volume
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The total value of major compliance carbon markets is expected to exceed $800 billion in 2022, up 5% from last year despite falling trade volumes.
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The EU remains the world's largest carbon market in terms of volume and value, though its dominance is slipping.
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China launched the world's largest emissions trading system in 2021, covering around one-seventh of global carbon emissions.
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The efficacy of carbon offsets to control climate change is being questioned, as they may encourage complacency.
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Renewable energy credits are suggested as a better alternative, directly supporting renewable energy infrastructure development.