Dear Sir or Madam,
After the Peruvian peasant Saúl Luciano Lliuya took legal action against RWE for possible consequences of the operation of coal-fired power plants last year, now the EU is facing a similar lawsuit.
Nine families from four EU states, the Fiji Islands and Kenya, are suing the EU, as their climate protection goals are insufficient in the view of the plaintiffs to avert the dangerous consequences of climate change. The plaintiffs are supported by the environmental organization Germanwatch. Among them is the family Recktenwald of the small German North Sea island Langeoog, which would be affected by an increasing sea level rise on the front line.
To what extent the action will be successful, of course, from today’s perspective, is not foreseeable. However, one thing has already reached them – media attention and perhaps even more awareness of the problem.
The prices of one tonne of CO2 have risen further in Europe last week and have already exceeded the € 16 mark on Monday of last week to mark a new seven-year high on Wednesday at € 16.40, In a weak market environment, which was dominated by rumours of a loosening of the oil production limit by the OPEC, the permit rights at the end of the trading week fell again slightly and closed in the area around 16 euros per EUA.
| (Average Quotes Exchange / OTC) | |||
| Instrument | 2018-05-18 | 2018-05-25 | Change |
| EUA (Spotmarket) | 15.22 EUR | 15.98 EUR | +0.76 EUR |
| EUA (December-2018-Future) | 15.25 EUR | 16.00 EUR | +0.75 EUR |
| CER (Spotmarket) | 0.22 EUR | 0.22 EUR | +0.00 EUR |
| ICE Brent Crude Oil (Benchmark Future) | 78.60 USD | 76.05 USD | -2.55 USD |
| EURO (Currency, Forex) | 1.1769 USD | 1.1649 USD | -0.0120 USD |
(The average exchange quotes and OTC-prices shows the average between bids and ask of several exchanges and OTC markets for carbon emission rights in the ETS. Bid and ask has usually in Spot Market a visible spread. CER CP1 and ERU are eligible in ETS until end of March 2015 and must be swapped into EUA. Crude Oil and Euro Currency shows day-end-exchange quotes. This market information has just an informational character and are no advice or offer to trade carbon emission rights or their futures and options. If you want to unsubscribe, please reply to this mail.)
Please call our international carbon desk if any further questions exist: +49.2831.1348220 or +44.20.79790283.
With kind regards,
Advantag Services GmbH