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Carbon markets defy global downturn

Carbon trading, while slow to take off, is beginning to catch on with hedge funds as a new asset class. Kris Devasabai, US Editor, and Stephen Quigley report

Carbon trading is one of the fastest-growing commodities markets in the financial world.

The global market for trading emissions allowances and carbon credits grew by 81% to reach $87 billion in the first nine months of 2008, according to research carried out by New Carbon Finance, a research company focused on clean energy and carbon trading. Analysts at the company expect to see carbon trading

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