Voluntary carbon markets: Lost in transactions?

What is the size of the voluntary carbon market? And what implications does it have for compliance markets, whether the Kyoto markets or emerging cap-and-trade schemes in the US? We answer these questions in this CMA, assessing market size and indicating how transaction volumes and project pipelines are distributed over project types and between the US, European and other markets. We also estimate CER demand from non-compliance buyers and give an overview of prices and standards in the voluntary market.