Carbon market to reach $1 trillion by 2017

As companies ramp up the sale of credits on international carbon markets — including the Chicago Climate Exchange and European Climate Exchange — experts reckon the global carbon market could reach an enormous $1 trillion over the next decade–as this article points out:

Managing emissions is one of the fastest-growing segments in financial services, and companies are scrambling for talent. Their goal: a slice of a market now worth about $30 billion, but which could grow to $1 trillion within a decade.

“Carbon will be the world’s biggest commodity market, and it could become the world’s biggest market overall,” said [Louis] Redshaw, the head of environmental markets at Barclays Capital.