The Global Carbon Market 2009: Trading Thin Air report ( http://www.bharatbook.com/detail.asp?id=125852&rt=The-Global-Carbon-Market-2009-Trading-Thin-Air.html ) assesses that Global climate change and reduction of greenhouse gasses (GHG) are an important concern for many US businesses and throughout the world, and are shaping policies and initiatives. The United States is responsible of 23% of the world's GHG emissions but as of 2009, there are no federal restrictions and no binding federal carbon trading system. However, many states and corporations have committed to cutting GHG through emissions trading.

Carbon emission credits are a key component of national and international emissions trading schemes that have been implemented to mitigate global warming. They provide a way to reduce greenhouse effect emissions on a large scale by capping total annual emissions, allowing the market to assign a monetary value to any shortfall through trading. Credits can be exchanged between businesses or bought and sold in international markets. Credits can also be used to finance carbon reduction schemes between trading partners and around the world. There are also many companies that sell carbon credits to commercial and individual customers interested in lowering their carbon footprint on a voluntary basis.

For trading purposes, one allowance is equivalent to one metric ton of CO2 emissions. There are three legally binding carbon trading arrangements and one major voluntary market. The Kyoto Protocol is an international agreement with two main trading devices, the Clean Development Mechanism (CDM) and Joint Implementation (JI). The European Emission Trading Scheme (EU ETS) is a government-backed trading program adopted by the European Council. The United States does not participate in the Kyoto Protocol but the US voluntary carbon markets can be divided into two main segments: the voluntary, but legally binding, cap-and-trade system that is the Chicago Climate Exchange (CCX) and the broader, non-binding, over the counter (OTC) offset market.

Some of the main markets for carbon reduction projects include renewable energy (solar, wind and hydropower), energy efficiency / demand-side management, methane capture or waste-to-energy, reforestation, carbon capture and storage (sequestration), power plant revamping and fuel switching. These are all sectors in which the United States excels, providing gateways into carbon market participation.

Emissions trading is on track to play a key role in the world's transition to a low-carbon economy. As countries meet their commitments under the Kyoto Protocol, the global carbon market has experienced rapid growth. From 2005 to 2008, the market grew from $11 billion to $126 billion. This growth and accompanying diversification has been made possible by an increasingly elaborate set of players. In addition to the suppliers, intermediaries and end users in the carbon market, services providers are also needed in the areas of quality control, legal advisory services, information and analysis and capacity building. Legal frameworks and regulatory bodies are also present. Although the Kyoto Protocol will expire in 2012, there is general consensus that a cap-and-trade system will be established in the United States and a global carbon trading system will be a fixture in the world economy for decades. Carbon is predicted by some to become a commodity with its emissions regulated worldwide.

Trading Thin Air makes important forecasts regarding the future of the carbon market and highlights ways current and prospective players can position themselves in this global market. No other market research report provides both the comprehensive analysis and extensive data that Trading Thin Air offers. Plus, you'll benefit from extensive data, presented in easy-to-read diagrams, tables and charts.

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