Carbon emissions trading has been steadily increasing in recent years. According to the World Bank's Carbon Finance Unit, 374 million metric tonnes of carbon dioxide equivalent 9L0 509 were exchanged through projects in 2005, a 240% increase relative to 2004 which was itself a 41% increase relative to 2003.
In terms of dollars, the World Bank has estimated that the size of the carbon market was 11 billion USD in 2005, 30 billion USD in 2006, and 64 billion in 2007.the Group published a statement stating that there was a need to act on climate change and stressing the 9L0 402 importance of market-based solutions. It called on governments to establish "clear, transparent, and consistent price signals" through "creation of a long-term policy framework" that would include all major producers of greenhouse gases.By December 2007 this had grown to encompass 150 global businesses
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