The renewed confidence in the carbon market seen in 2014 is set to continue throughout 2015 according to the respondents of the annual Point Carbon Market Survey from Thomson Reuters. This year’s results indicate that the increased confidence of 2014 shows no signs of slowing. 2013 saw an all time low for sentiment, with falling prices and doubts about political commitment but things picked up in 2014 and this positive trend looks set to continue in 2015 too.

KEY FINDINGS

• Cap-and-trade is the emission abatement instrument that most respondents expect to see in place in 2020, well ahead of subsidies and taxes.
  
• 49% of European respondents agree that the EU ETS is the most cost-effective way to reduce emissions. Two-thirds believe it will “continue to be the main instrument of EU climate policy”.
  
• Among the companies compliant under the EU ETS – those whose emissions are capped – 51% say the system has led them to reduce emissions.
  
• 17% of American respondents are confident the U.S climate target (26-28% reduction by 2025) is achievable under current and planned policies, 33% say it might be possible, and 34% checked an emphatic “no”.
  
• In China, 43% of the respondents expect to see a nationwide emission trading scheme by 2017. Another 40% expect it to be launched sometime in the period 2018 to 2020.
  
• 36% of all respondents consider it likely that the Paris summit in December 2015 will deliver a new international climate agreement. 38% see it as unlikely. The French, as hosts for the upcoming event, are by far the most optimistic, with 79% expecting world leaders to reach an agreement.

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