BusinessGreen: The value of the global carbon market contracted for the first time last year, according to new figures from Bloomberg New Energy Finance (BNEF) that show market activity only reached EUR61bn in 2012, a decline of more than a third on the previous year.
The drastic drop in the value of the market was caused by a near halving in the average price of carbon credits from EUR11.2 a tonne in 2011 to just EUR5.7 a tonne last year, the result of over-supply in the EU's emissions trading scheme (ETS)...