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Cologne - infoZine - The latest annual report from the World Bank on the global carbon market showed that in 2009 it grew to $144 billion, up 6% from 2008 despite enduring its most challenging year to date. The global economic crisis negatively impacted both demand and supply sides and, as industrial output plummeted, the demand for carbon assets fell. The State and Trends of the Carbon Market 2010, released today by the World Bank at Carbon Expo in Cologne, also said that on the supply side, the reduction in access to capital made it difficult for many project developers to lock in financing. As a consequence, project ...
China, the world’s biggest polluter, may spend about 5 trillion yuan ($738 billion) in the next decade developing cleaner sources of energy to reduce emissions from burning oil and coal, a government official said. The government will submit plans to develop cleaner energy, including nuclear power and gas from unconventional sources, in 2011 to 2020 to the State Council, or Cabinet, for approval, Jiang Bing, head of the National Energy Administration’s planning and development department, said in Beijing today. China needs between 500 billion and 600 billion yuan annually to ... Read More
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