Financial Factoid of the Week

The market for trading carbon emissions permits is exploding:

Global carbon market traded volumes were worth less than $1 billion in 2004, $11 billion in 2005 and over $30 billion last year, according to the World Bank.

On top of that comes a growing number of investments in green projects:

Citigroup Inc. said this month it was committing $50 billion to environmental projects over the next decade, hot on the heels of a similar, $20 billion plan announced by Bank of America.