Exact figures are hard to come by because the market is still fairly new, since data is not easily available and since several different schemes exist, not all directly comparable.
The World Bank, one of the main players in carbon financing, estimates the value of carbon traded in 2005 to be about $10bn.
The Bank believes the carbon market has the potential to bring more than $25bn (£14bn) in new financing for sustainable development to the poorest countries and the developing world.
Trading firms, brokers and banks are among those expected to make money through commissions for organising carbon deals.
The Bank's own carbon finance fund has more than doubled from $415m in 2004 to $915m last year
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