Dear Sir or Madam,
The World Climate Conference in Brazil is now halfway through, accompanied by numerous protests by indigenous peoples and climate activists such as Fridays for Future.
COP30 is, of course, about the most important issue of all: financing climate protection. It remains unclear whether a breakthrough will be achieved in Belém. According to participants, the conference got off to an unusually harmonious start. The focus is on climate financing: by 2035, at least 300 billion dollars should be available annually, and in the long term even significantly more, mainly from private funds. Private investment will be of particular interest when corresponding CO2 certificates are issued, which private sector investors can use to offset their unavoidable emissions.
The countries are discussing whether and how to make the phase-out of coal, oil and gas binding. Brazilian President Lula is proposing a global roadmap for phasing out fossil fuels, which, according to German State Secretary Flasbarth, is an important, albeit informal, aspect of the negotiations. Germany sees its coal phase-out plan as a possible model.
The ministers will negotiate in the second week. German Federal Environment Minister Carsten Schneider arrived in Belém at the weekend.
Due to the postponement of EU ETS2 by one year to 2028, the national emissions trading system in Germany will be extended by one year. The regulation currently applicable to this situation stipulates that the price of allowances in 2027 will be based on the volume-weighted average price of emission allowances (EUA) in the EU ETS1 in the penultimate quarter.
However, the German government now plans to apply the 2026 pricing to 2027 as well, i.e. the price corridor between 55 and 65 euros in the auction process. To do so, however, the necessary majorities must be found in the legislative process.
In the past trading week, prices in the EU ETS1 continued to move within the sideways-upward trend channel that began at the end of July, ranging between €78.91 and €82.79 in the EUAnbenchmark contract.
There are therefore good reasons to believe that prices will not leave the trend channel this week either, based on the daily closing price, which currently stands between €80 and €84.
A total of 13.7 million EUAs will be auctioned on the EEX on all five trading days this week.
| Instrument | 31/10/25 | 07/11/25 | Change |
| EUA (December-25-Future) | 78.54 EUR | 79.47 EUR | +0.93 EUR |
| EUA2 (December-28-Future) | 68.41 EUR | 68.49 EUR | +0.08 EUR |
| nEZ25 (national Emission Allowances (D)) | 55.00 EUR | 55.00 EUR | +0.00 EUR |
| UKA (December-25-Future (UK)) | 56.27 GBP | 55.35 GBP | -0.92 GBP |
| UK Natural Gas (December-25-Future) | 80.87 GBP | 81.15 GBP | +0.28 GBP |
| ICE Brent Crude Oil (Januar-26-Future) | 63.72 USD | 64.77 USD | +1.05 USD |
| EURO (Forex) | 1.1537 USD | 1.1565 USD | +0.0028 USD |
(EUA, EUA2, UKA, Natural Gas, Crude Oil and Euro Currency shows day-end-exchange quotes of the benchmark contract. This market information has just an informational character and are no advice or offer to trade emission allowances or their futures and options. If you want to unsubscribe, please reply to this mail.)
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With kind regards,
Your Advantag – Team