Dear Sir or Madam,
Three renowned researchers from the University of California, Professor Yangyang Xu, Professor Veerabhadran Ramanathan and Professor David G. Victor, have published an article in the journal Nature, which shows that the short – term consequences of climate change in particular are massively underestimated and that the Global warming is much faster than expected. They list three chains of evidence. First, in 2017 alone, CO2 emissions of 37 gigatonnes per year were estimated, leading to a global temperature increase of 0.25 to 0.32 ° C per decade over the next 25 years. On the other hand, the accelerated reduction of air pollution will help to warm the climate faster, as they can no longer reflect the sunlight. Furthermore, they see signs that the earth is approaching a natural warming phase that could last for several decades. These three effects reinforce each other and could lead to a warming of 1.5 ° C already in 2030. 2045 could already fall the 2 ° C mark. The scientists are therefore calling for new climate change priorities as well as strategies to adapt to their consequences.
CO2 allowances rebounded strong last week, after plunging sharply the week before. With an increase of 18%, they closed above the 22-euro mark in the last trading week. Also on Monday they continued the rally and left the mark of 23 euros behind. For the time being there is a major technical resistance in the area of 23.50 which needs to be overcome in order to remain bullish.
| (Average Quotes Exchange / OTC) | |||
| Instrument | 2019-02-22 | 2019-03-01 | Change |
| EUA (Spotmarket) | 18.80 EUR | 22.18 EUR | +3.38 EUR |
| EUA (December-2019-Future) | 18.94 EUR | 22.28 EUR | +3.34 EUR |
| CER (Spotmarket) | 0.23 EUR | 0.23 EUR | +0.00 EUR |
| ICE Brent Crude Oil (Benchmark Future) | 67.13 USD | 64.99 USD | -2.14 USD |
| EURO (Currency, Forex) | 1.1338 USD | 1.1364 USD | +0.0026 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