12 May 2005 — Natsource LLC announced the completion of its analysis of greenhouse gas (GHG) market activity in 2004.  The analysis shows that traded volumes of carbon dioxide equivalent (CO2e) emissions reductions  created by projects increased from approximately 78 million tonnes (Mt) in 2003 to 107 Mt in 2004 — a 38% increase.  This follows a doubling of traded reductions from approximately 29 Mt in 2002 to approximately 78 Mt in 2003.  Overall, the market for project-based reductions has increased from 13 Mt in 2001 to 107 Mt in 2004 — a 725% increase.  Trade in emissions allowances increased dramatically, from approximately 2.6 Mt in 2003 to over 16 Mt in 2004, primarily in anticipation of the start of the European Union Emissions Trading Scheme (EU ETS) in 2005.

Natsource’s research was commissioned by the World Bank and incorporated into the World Bank Carbon Finance Business’s fifth annual “State and Trends of the Carbon Market.” These reports have covered GHG market activity from 1996-2005.  Natsource is the only company that has provided information and analysis for all of these reports.