Dear Sir or Madam,
Last week a special report was published by the IPCC, which covers in particular the situation of the oceans and the cryosphere, ie the frozen parts of the earth system.
Oceans cover 715 of the Earth’s surface and contain 97% of the water of our planet. 10% of the land is still covered by glaciers and ice sheets. According to the IPCC report, global warming has led to a large-scale shrinkage of this cryosphere due to mass losses of ice and glaciers as well as increased permafrost temperatures.
Since 1970, the oceans have continued to warm unabated, absorbing more than 90% of global warming. Since 1993, the speed has doubled here. As a result, the oceans acidify quickly, which leads to loss of oxygen even in deeper waters. There is also an increase in sea level.
All of which leads to much stronger storms and extreme weather events, which affects the global availability of drinking water and threatens food security increasingly. Whole peoples will thereby lose their habitat and their nutritional bases; coastal cities are facing massive problems. This will eventually lead to significant population resettlements and migrations.
Significant global efforts, according to scientists, are needed to keep global warming below 2 ° C, ideally below 1.5 ° C. This realization has now also prompted Russia to join the Paris Agreement on Climate Change since large parts of the global permafrost are on Russian territory.
A global price for greenhouse gas emissions is therefore urgently needed and must be implemented as soon as possible. The odds increase with every extreme weather event.
Prices for European CO2 emission allowances also fell over the past week due to the energy market environment and fears of a slowdown in the global economy, although a smaller auction volume will be auctioned in Leipzig this week with 11 million EUAs.
| (Average Quotes Exchange / OTC) | |||
| Instrument | 20/09/2019 | 27/09/2019 | Change |
| EUA (Spotmarket) | 26.52 EUR | 25.29 EUR | -1.23 EUR |
| EUA (December-2019-Future) | 26.53 EUR | 25.30 EUR | -1.23 EUR |
| CER (Spotmarket) | 0.21 EUR | 0.21 EUR | +0.00 EUR |
| ICE Brent Crude Oil (Benchmark Future) | 64.66 USD | 61.04 USD | -3.62 USD |
| EURO (Currency, Forex) | 1.1017 USD | 1.0938 USD | -0.0056 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.
With kind regards,
Advantag Services GmbH