Global carbon market grew 20% in 2020

03 Feb 2021 Editorial Team

The total value of global carbon markets grew 20% in 2020, reaching a record $275.84 billion, according to the annual Refinitiv Carbon Market Year in Review.

__________

The latest Refinitiv Carbon Market Year in Review indicates that the carbon market grew for the fourth consecutive year of record growth and more than five times the value in 2017.

Most of the increase in value came from the European Emissions Trading System (EU ETS) which accounted for nearly 90% of global value and most of the traded volume (totalling 10.3 billion allowances) in 2020.

Over eight billion emission allowances changed hands in the European carbon market in 2020, nearly 20% more than in 2019, despite an estimated 14% emissions drop in the EU ETS sectors.

The North American regional carbon markets━the Western Climate Initiative (WCI) and Regional Greenhouse Gas Initiative (RGGI) followed a similar pattern to Europe, with prices crashing in March and April but recovering by Q4 2020 on expectations of policy changes resulting in tighter future carbon market balances. The WCI and RGGI grew by 16% in terms of overall market value from 2019, to €22 billion ($26.50 billion) and €1.7 billion ($2.07 billion), respectively.

Other markets followed a similar pattern – prices in North America’s Western Climate Initiative (WCI) and Regional Greenhouse Gas Initiative (RGGI) as well as New Zealand’s ETS crashed in March and April but recovered by Q4 2020. The WCI and RGGI grew by 16% in terms of overall market value from 2019, to €22 billion and €1.7 billion, respectively. New Zealand’s market value rose to €516 million ($621.55 million) on higher average allowance prices, nearly 20% higher than in 2019.

South Korea’s carbon market experienced a major price crash but did not recover to pre-pandemic levels despite market tightening reforms coming into effect in 2021. A volume surge in this otherwise low-transaction market made for a total value 10% higher than 2019, at ~€829 million ($998.58 million).

The Chinese government published long-awaited rules for China’s national ETS in Q4 2020, after President Xi Jinping’s unexpected pledge in September to step up the climate change mitigation targets of the world’s biggest emitter. Despite pandemic-induced lower demand, elevated average allowance prices led to a total combined market of €257 million ($309.57 million), slightly higher compared to 2019.

The total value of global carbon markets grew 20% in 2020, reaching a record $275.84 billion, according to the annual Refinitiv Carbon Market Year in Review. __________ The latest Refinitiv Carbon Market Year in Review indicates that the carbon market grew for the fourth consecutive year of record growth and more than five times the value in 2017. Most of the increase in value came from the European Emissions Trading System (EU ETS) which accounted for nearly 90% of global value and most of the traded volume (totalling 10.3 billion allowances) in 2020. Over eight billion emission allowances changed hands in the European carbon market in 2020, nearly 20% more than in 2019, despite an estimated 14% emissions drop in the EU ETS sectors. The North American regional carbon markets━the Western Climate Initiative (WCI) and Regional Greenhouse Gas Initiative (RGGI) followed a similar pattern to Europe, with prices crashing in March and April but recovering by Q4 2020 on expectations of policy changes resulting in tighter future carbon market balances. The WCI and RGGI grew by 16% in terms of overall market value from 2019, to €22 billion ($26.50 billion) and €1.7 billion ($2.07 billion), respectively. Other markets followed a similar pattern – prices in North America’s Western Climate Initiative (WCI) and Regional Greenhouse Gas Initiative (RGGI) as well as New Zealand’s ETS crashed in March and April but recovered by Q4 2020. The WCI and RGGI grew by 16% in terms of overall market value from 2019, to €22 billion and €1.7 billion, respectively. New Zealand’s market value rose to €516 million ($621.55 million) on higher average allowance prices, nearly 20% higher than in 2019. South Korea’s carbon market experienced a major price crash but did not recover to pre-pandemic levels despite market tightening reforms coming into effect in 2021. A volume surge in this otherwise low-transaction market made for a total value 10% higher than 2019, at ~€829 million ($998.58 million). The Chinese government published long-awaited rules for China’s national ETS in Q4 2020, after President Xi Jinping’s unexpected pledge in September to step up the climate change mitigation targets of the world’s biggest emitter. Despite pandemic-induced lower demand, elevated average allowance prices led to a total combined market of €257 million ($309.57 million), slightly higher compared to 2019.

Infrastructure Transport

12 Mar 2026

Kavach 4.0 Commissioned on Delhi–Mumbai and Delhi–Howrah

"Kavach version four has been commissioned on 1,452 route km, covering the high density Delhi–Mumbai and Delhi–Howrah corridors. The rollout included laying 8,570 km of optical fibre, installation of 1,100 telecom towers, deployment of trackside equipment over 6,776 RKm and establishment of 767 station data centres. Trackside implementation has been taken up on 24,427 RKm covering Golden Quadrilateral, Golden Diagonal and High Density Network sections. The programme aims to strengthen signalling and train protection on key routes.Kavach is an indigenously developed automatic train protecti..

Infrastructure Transport

12 Mar 2026

Railways Advance Kalyan–Murbad Line And Mumbai Capacity Expansion

"Indian Railways is advancing multiple rail infrastructure projects in Maharashtra, including the sanctioned Kalyan–Murbad new line and sizable investments under the Mumbai Urban Transport Project and the Mumbai–Ahmedabad High Speed Rail project. The Kalyan–Murbad 28 km new line has been sanctioned at Rs 8.36 billion (bn) on a 50:50 cost-sharing basis with the Government of Maharashtra and has been declared a Special Railway Project for land acquisition; proposals covering 214 hectares are at various stages of acquisition. Budgetary outlay for projects falling fully or partly in Maharash..

Infrastructure Urban

12 Mar 2026

Parliamentary Panel Flags Funding Gaps in Heavy Industries

"The Department-Related Parliamentary Standing Committee on Industry (Rajya Sabha) presented its 332nd report on the Demands for Grants 2026-27 of the Ministry of Heavy Industries (MHI). Figures converted from crore and lakh are expressed in million (mn). The Budget Estimates 2026-27 for the Ministry stand at Rs 79,399 mn against a projected requirement of Rs 94,843.2 mn, a shortfall of about 16 per cent, with revenue at Rs 79,370.8 mn and capital compressed to Rs 28.2 mn from Rs 5,020 mn.The committee flagged recurring BE-to-RE compression and declining revised estimate utilisation, and calle..