The value of the global carbon market reached a record high of 881 billion euros (949 billion U.S. dollars) in 2023. The European Union's Emissions Trading System (EU ETS) was the world's most valuable market that year, with a share of 87 percent of the global carbon market size. The United Kingdom ETS, which launched in 2021, accounted for the second-largest share of the global market value in 2023, at four percent.
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