Dear Sir or Madam,
Today marks the launch of mandatory CO2 emissions trading in Vietnam as well. In its first phase, this will involve a total of 110 installations subject to trading. This means there are now over 50 countries worldwide with direct carbon pricing.
In the Americas, these include California – which is linked to the system in Quebec, Canada – the US Regional Greenhouse Gas Initiative and the Cap-and-Invest programme in Washington; greenhouse gas emissions are also subject to pricing in Mexico.
In Asia, emissions trading schemes are in place in countries including China, India, Japan, Indonesia, Kazakhstan and South Korea. Australia and New Zealand have also introduced carbon emissions trading systems.
In Europe, the EU ETS has been in place since 2005; there are also carbon trading schemes in the UK, Switzerland and Montenegro.
Furthermore, countries such as Russia, Turkey, Colombia and Brazil are developing national emissions trading schemes. Argentina, Chile, Malaysia, the Philippines, Taiwan, Thailand and further US states are also planning to use CO2 trading schemes to reduce greenhouse gas emissions.
The claim frequently made in recent months that only Europe puts a price on greenhouse gas emissions is therefore completely false and is based on sheer ignorance or deliberate misrepresentation.
Last week, the Leipzig-based energy exchange EEX published an updated auction calendar for the current year. Under this schedule, 2,817,500 EUAs will be auctioned from the EU’s allowances in each auction up to the end of August, and 3,699,000 EUAs in each of the remaining auctions of the year.
The German auctions, which currently offer 1,000,000 EUAs per week, will increase to 2,596,000 EUAs from September onwards. Poland’s fortnightly auctions will rise from the current 1,380,000 EUAs to 2,797,000 EUAs from September.
This week, a total of 9,453,000 EUAs will be put up for auction on the EEX over four trading days; the Polish Wednesday auction of 1,380,000 is scheduled to be omitted.
Despite the negotiations between the US and Iran and the resulting ceasefire, mutual attacks have intensified once again, even though neither side is likely to have much interest in further escalation. The US costs alone already amount to 40 billion US dollars.
Consequently, the Strait of Hormuz remains one of the key issues on the global markets for fossil fuels, which is consequently also affecting prices in the EU ETS.
This Wednesday, the first auction in Germany’s national emissions trading scheme will take place within a price range of 55.00 to 65.00 euros. The buy orders we have received alone already indicate that participants are targeting the upper end of the price range in order to maximise their chances of a successful bid.
The auction will take place between 1.00 pm and 3.00 pm. Once the auction results have been received, we will promptly inform our participating clients of the outcome via a trading confirmation.
Although the allocation results will only be partially transferable to subsequent auctions, they do at least provide an initial interesting indication.
| Instrument | 19/06/26 | 26/06/26 | Change |
| EUA (December-2026-Future) | 80.58 EUR | 80.28 EUR | -0.30 EUR |
| EUA2 (December-2028-Future) | 71.00 EUR | 71.00 EUR | +0.00 EUR |
| nEZ25 (national German Emission Certificates) | 55.00 EUR | 55.00 EUR | +0.00 EUR |
| UKA (December-2026-Future (UK)) | 60.46 GBP | 57.15 GBP | -3.31 GBP |
| UK Natural Gas (December-2026-Future) | 110.32 GBP | 106.00 GBP | -4.32 GBP |
| ICE Brent Crude Oil (December-2026-Future) | 77.89 USD | 72.12 USD | -5.77 USD |
| EURO (Forex) | 1.1470 USD | 1.1383 USD | -0.0087 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.)
Please call our international carbon desk if any further questions exist: +49.2831.1348220 or book here a call with one of our specialists.
With kind regards,
Your Advantag – Team