Depressed Carbon Prices Deter Offsets. By Michael Szabo, Reuters, January 19, 2009. "Tumbling prices for emissions permits may have knock-on effects on the world's $120 billion carbon market, including a slowing of U.N. offset supplies and a shake-out in green project developers. Carbon offsets traded under the Kyoto Protocol and used by European industry to meet carbon caps, representing a $32 billion market last year, have not escaped the global economic downturn, more than halving 2-year highs hit last summer... U.N.-approved offsets called Certified Emissions Reductions for December delivery were trading at 11.95 euros ($15.71) on Thursday. Low CER prices are deterring new investment in clean energy projects, cutting the number of developers chasing deals in the number one market China."
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