Emissions Trading / Carbon Market News (22/04/2024)

Dear Madam or Sir,

The “Correctiv” network has examined the offsetting measures of 150 gas suppliers in terms of their real benefit for the climate. In the process, 116 gas suppliers used offsetting projects that could not plausibly prove that the corresponding amount of CO2 is really being removed from the atmosphere in a sustainable manner.

According to Correctiv, this means that 10 million tons too little has been offset. Forest projects (REDD) in particular have been criticized for some time, as sustainable climate protection is doubted.

Deutsche Umwelthilfe has now called on 15 gas suppliers to stop advertising climate-neutral gas and accuses them of deceiving consumers.

Companies that advertise climate neutrality are therefore well advised when selecting climate protection projects to acquire certificates from projects that are unassailable in terms of their sustainability and real greenhouse gas reduction.

We will be happy to advise you and offset your greenhouse gas emissions, which cannot be avoided or can only be avoided with disproportionate effort, with CO2 certificates from leading standards such as the Gold Standard or Voluntary Carbon Standard.

The European CO2 compliance market broke through an important resistance level last week and the EUA December future rose to EUR 74.90, where it failed at another resistance line, which was just below the 200-day line currently at EUR 75.03.

Towards the end of the trading week, prices fell again and closed well below the EUR 70 mark. The coming days will show whether the price will make another attempt to break the 200-day line or move towards the 38-day line, which currently stands at EUR 62.88, which could then invite buying.

    (Average Quotes Exchange / OTC)       
EUA (December-2024-Future)71.55 EUR68.81 EUR-2.74 EUR
VER (Natural Carbon Offsets)1.40 USD1.33 USD-0.07 USD
VER (CORSIA eligible Carbon Offsets)0.63 USD0.42 USD-0.21 USD
nEZ (German National Carbon Units)45.00 EUR45.00 EUR+0.00 EUR
ICE Brent Crude Oil (Benchmark Future)89.65 USD86.54 USD-0.11 USD
EURO (Currency, Forex)1.0639 USD1.0650 USD+0.0011 USD

(The VER quotes are average rates (carboncredits.com), which can be used within the framework of CORSIA and voluntary carbon offsetting. 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