Price of Carbon Credit Set to Increase After Kyoto Deal Extension

13 December 2011 - Which Way to Pay

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Price of Carbon Credit Set to Increase After Kyoto Deal Extension

Carbon credit prices which are currently fallen to euro 5 per unit, are far under the psychological level of euro 10 per unit. They were hoped to be bettered by the Kyoto Protocol for an additional 5 years, thus securing the long-term fundamentals of the Indian greenhouse gas (GHG) emission reduction market.

Experts believe prices of carbon credits could rise to the euro 8-10 range in 9-12 months. By 2013, these may even appreciate to euro 12-15 per unit. However, there was no immediate reaction of the Durban outcome on carbon credit prices which continue to rule low.

While the uncertainty on the extension of Kyoto was causing much concern among Indian project developers, a key factor which led to a fall in prices of carbon credits was the eurozone crisis which continues to bog the business of environment. A positive outcome at the Durban climate meet, announcing the extension of the Kyoto Protocol from 2013 to 2017 has, however, put to rest speculation surrounding the future of clean development mechanism (CDM) projects.

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