Carbon market could be worth EUR2 trillion by 2020

A US greenhouse cap-and-trade scheme could propel the global carbon market's worth to EUR2 trillion ($3.1 trillion) by 2020, a report by information provider Point Carbon reveals.

According to the report, 67% of the total would be traded within a US emissions trading scheme (ETS), while the European Union's scheme, the EU ETS, would trade 23% of the global market. The figures released by the report predict a carbon price of EUR50 ($78.7) in 2020.

"With a US-EU engine established as a core, the glo