Dear Sir or Madam,
Over the past 75 years, the aid organization Oxfam has become one of the largest emergency aid and development organizations and is active in 67 countries.
In the run-up to the G-7 meeting on Friday, she is now urgently warning to fight climate change. According to a study by the Swiss Re Institute, the G7 countries alone would also be affected financially, as in 2050 an average of 8.5% of annual economic output would be affected by the consequences of climate change. That would translate to $ 4.8 trillion in numbers.
In their calculations, the scientists at Swiss Re assume that if the countermeasures are insufficient, warming will rise by more than 2.6° C by 2050, which would reduce the gross domestic product of the G7 countries by 14%. If no further measures are successful, the warming could be 3° C by 2050 and the economies would shrink by 18%.
Emissions trading, which has achieved its goals in Europe in the past three trading periods, was unable to develop any bullish tendencies in the past week and lost another 2% compared to the previous week. The December future closed just below the 50 Euro mark despite the once again shortened trading week.
And the new week begins with technical problems. Due to the relocation of trading on the leading ICE exchange from Great Britain to the Netherlands, no valid prices are available at the moment, which is why, in addition to futures trading, the spot market has now been almost completely paralyzed. It is to be hoped that the ICE can solve these problems in a timely manner.
| (Average Quotes Exchange / OTC) | |||
| Instrument | 21.05.21 | 28.05.21 | Change |
| EUA (Spot-Market) | 51.29 EUR | 50.97 EUR | -0.32 EUR |
| EUA (December-2021-Future) | 51.75 EUR | 51.03 EUR | -0.72 EUR |
| CER (Voluntary Spot-Market ø) | 2.95 USD | 2.95 USD | +0.00 USD |
| VER (Gold Standard Spotmarkt ø) | 14.52 USD | 14.52 USD | +0.00 USD |
| ICE Brent Crude Oil (Benchmark Future) | 66.68 USD | 68.95 USD | +2.27 USD |
| EURO (Currency, Forex) | 1.2178 USD | 1.2193 USD | +0.0015 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. CERs and VERs are average prices in the voluntary carbon offsetting market. 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