Emerging carbon marketBusinesses need to plan for low carbon production because all countries have started working to meet the worldwide agreement of reducing carbon emissions by 2020. Today the world is moving towards climate change and businesses are calculating the negative implication of changes in the environment. In Dec 2011, an agreement was signed at Durban to continue the Kyoto protocol until and beyond 2012, and companies are researching to build mechanism to ensure clean development where the carbon credits can be issued as well as sold. The main aim of carbon credit generation is to cut emissions to handle global warming where investments are geared towards producing carbon footprint through various means such as investment in forests, agriculture, solar power, wind energy etc.Global Carbon Trading and Carbon Markets At the Durban meeting countries agreed to the green climate fund which was less than $100 billion a year where funds would flow from the rich counties to the poor till 2020. Before the Durban conference the role of businesses in the world was not clear but now it is clear that private sector initiatives will play an important role in promoting green growth and reducing carbon emissions. The aim is to prevent global warming, to create jobs, improve infrastructure and to reduce poverty. Today the mechanism of carbon credit is clear and governments are financing green projects to ensure promotion of projects and schemes for reducing carbon footprints.Profits through carbon tax Australia implemented the carbon tax in November 2011 and China will roll-out its plan in seven regions till 2013, while, South Korea aims to implement carbon trading under the cap-and-trade program. EU carbon market is believed to be the biggest market. UN backed market in Certified Emission reduction (CERs) has been valued at 17.8 billion Euros and Kyoto Protocol Joint Implementation market saw a rise in value by 40% (to 716 million Euros) as per Point Carbon analysts. Further, EU plans to include airlines into the carbon trade and Eastern EU has been courted to make cuts up to 30%.Across the world the carbon market revenue increased by 4% in 2010 and one of the biggest markets of carbon trading was EU Emission Trading Systems which grew by 6% with an average estimated trade of 76 billion Euros. The total volume of trade (also known as EU Allowances ( EUSs), which includes the auction and options), was 6 billion which is 17 % more than 2010. The ETS will further undergo an extension in 2013 when it will add some more sectors under its provision, which will include the petrochemical, ammonia and aluminium industries.European carbonEU has 27 members that will use carbon credits to fight global warming to cap CO2 emission in more than 10,000 power and industrial plans covering 50% of the bloc’s emission of the carbon. Currently, only 10 have submitted their plans and it measures carbon emission control in the period from 2013 to 2020. It is assumed that other 17 members will have to allocate licenses to companies by March to prevent further actions.Europe increased the total carbon trade and the value rose by 4 %. The market showed a jump of more than 30% in Dec 2011 and a jump of 19 % in the year. The EU is set to cut carbon emission from the levels of 1990 by 20% to 2020.U.S. carbon market value to rise by 9.8 % in 2012Analysts believe carbon trading will double in the current year to reach $782 million in 2012 as there are five new growing markets in the five states of the country. The total carbon estimated volume of North America market is 179 million MT (value $82 million) which is almost double the amount traded in previous year.RussiaCarbon credits saw a rise in supply from Russia.New ZealandThe carbon market of New Zealand rose by 106 million Euros which was higher as compared to 91 million Euros of 2010 and the total traded volume grew by 25%.