Dear Sir or Madam,
Last week, Turkey also established the legal framework for monitoring industrial greenhouse gas emissions, which is intended to form the basis for a future emissions trading scheme.
Under this scheme, emitters are divided into three categories: installations up to 50,000, installations up to 500,000, and major emitters with more than 500,000 tonnes of CO2 or its equivalent in other greenhouse gases (CO2e). A start date for the emissions trading scheme has not yet been set.
According to figures from the German Emissions Trading Authority (DEHSt) at the Federal Environment Agency, the 1,794 stationary industrial and energy installations in Germany emitted around 264 million tonnes of CO2 equivalents under the European Emissions Trading Scheme 1 (EU ETS1) in 2025.
This meant that emissions were around 3.2 per cent below the previous year’s figure; in 2024, the decline had been 5.5 per cent. In the aviation sector, emissions fell by 2.2 per cent in 2025 to around 8.8 million tonnes of CO2 equivalents, having risen by 16 per cent the previous year.
Prices for emission allowances in the EU ETS1 ranged from 82.00 to 84.72 euros last week, ending the week with a slight increase of 12 cents on a closing price basis.
With the start of September, the increased auction volume will come into effect for the first time this week. A total of 11,372,500 EUAs will be put up for auction across all five trading days.
In Germany’s national emissions trading scheme, 10,670,525 national emission allowances with the year code 2026 (nEZ26) were auctioned last week within a price range of between €55 and €65. As in all previous auctions, the maximum price of €65 was achieved. The allocation rate stood at 2.02 per cent, as in the previous week, based on a total of 529,324,683 allowances bid for.
This Wednesday and the following Wednesday will see the last two auctions of this type for 2026 take place. This week, 10,671,000 nEZ26 are on offer in the EEX auction calendar, with the remaining 10,682,345 allowances to be offered next week.
| Instrument | 21/08/26 | 28/08/26 | Change |
| EUA (December-2026-Future) | 82.61 EUR | 82.73 EUR | +0.12 EUR |
| EUA2 (December-2027-Future) | 66.55 EUR | 66.55 EUR | +0.00 EUR |
| nEZ26 (national German Emission Certificates) | 65.00 EUR | 65.00 EUR | +0.00 EUR |
| UKA (December-2026-Future (UK)) | 59.49 GBP | 59.39 GBP | -0.10 GBP |
| UK Natural Gas (December-2026-Future) | 168.30 GBP | 169.38 GBP | +1.08 GBP |
| ICE Brent Crude Oil (December-2026-Future) | 89.99 USD | 86.12 USD | -3.87 USD |
| EURO (Forex) | 1.1678 USD | 1.1584 USD | -0.0094 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