Compensation of carbon footprint 2024

Advantag GmbH calculated its carbon footprint for the year 2024, which included all emissions (Scope 1 to Scope 3). Advantag has also offset all of its employees’ emissions.

The Jiangdsu Dongtai Phase II wind power project was selected for this purpose.

China consumed primary energy of just under 171 exajoules in 2023. In a global comparison, China was therefore the largest consumer of energy worldwide. Around 60% of this is still generated from fossil fuels, but 18% comes from hydropower and around 20% from renewable energies, such as these wind turbines. A good 10% of the energy generated in China now comes from wind turbines such as the project in Jiangsu, which is located in the eastern Chinese province of Jiangsu. The output was maximised by selecting the most suitable turbines based on an optimal turbine distribution in the wind farm and taking into account the specific turbine characteristics. The project consists of 100 wind turbines with a net capacity of 2,000 kW each, supplying 406.0201 MWh of electricity per year to the eastern Chinese power grid. The project results in annual savings of around 338,010 tonnes of CO2e due to the climate-neutral generation of electricity.

The project will lead to annual savings of around 338,010 tonnes of CO2e due to the climate-neutral generation of electricity. The project also helps the local government to promote economic development and improve air quality, as a large proportion of the energy required there previously came from coal combustion.

The project has the Verified Carbon Standard (VCS) and has an extremely positive impact on the environment (offsetting fossil fuel consumption) and society (providing jobs, infrastructure development).

The revenue from the sale of these Verified Carbon Units (VCUs) from this project has provided the necessary financial incentive to realise the investment in this emission reduction project. Without the income from the certificates, this climate protection project would not have been developed and could not be continued, which would further accelerate global warming. By offsetting by cancelling the quantity of certificates you wish to purchase, you are helping to finance this project and thus relieving the burden on the climate at a global level. Each VCU certificate, which certifies the avoidance of the emission of one tonne of CO2, saves the emission of greenhouse gases, as these are not released into the atmosphere in the first place.

Emissions Trading / Carbon Market News (20/01/2025)

Dear Sir or Madam,

Today, Donald Trump begins his second term in the White House in Washington D.C. as President of the United States of America, and he has already announced his intention to end various climate and environmental protection laws. It remains to be seen what will actually be implemented. It will certainly be entertaining when you remember his first term in office and now he also has billionaire Elon Musk in tow and you instinctively wonder who is the boss here. Since both of them openly live out their narcissism, there are already bets on how long they will remain ‘best friends’.

Last Wednesday, the German Bundestag held a session in which the Energy Committee discussed the adaptation of the German Greenhouse Gas Emissions Trading Act (TEHG) to European guidelines (EU ETS II). The experts welcomed the adaptation, but called for more conformity with the EU.

Till Jenssen from the German Association of Cities emphasised the necessity of a sufficiently high CO2 price and targeted climate funding to relieve the burden on consumers. Michael Pahle from the Potsdam Institute for Climate Impact Research called the amendment a ‘historic step’ and highlighted Germany’s pioneering role.

The company representatives called for more planning security. Martin Kaspar from the Thüga-Aktiengesellschaft and Carsten Rolle from the Federation of German Industries emphasised the urgency of a rapid implementation of the amendment. Maximilian Rinck from the BDEW also advocated a rapid implementation of the changes.

Another point was the planned inclusion of waste incinerators in the emissions trading. Nadine Schartz from the Landkreistag (German County Association) and Holger Thärichen from the German Association of Local Utilities rejected this and called for a uniform decision throughout Europe.

Prices in the EU ETS I were noticeably bullish again last week, closing the week up 5.9% and just missing the 80-euro mark. During the course of Friday, this level was briefly exceeded with a high of 80.50, but by the end of trading, the price of the December EUA futures contract was unable to hold above the 80 mark.

This week, a total of 13,416,000 EUAs will be offered at the European Energy Exchange EEX in the auctions, which will take place on all five trading days.



  (Average Quotes Exchange / OTC)
       
Instrument10/01/2517/01/25Change
EUA (December-25-Future)74.85 EUR79.26 EUR+4.41 EUR
nEZ (national Emission Allowances (D))55.00 EUR55.00 EUR+0.00 EUR
UKA (December-25-Future (UK))34.88 GBP31.54 GBP-3.34 GBP
UK Natural Gas (December-25-Future)112.56 GBP117.96 GBP+5.60 GBP
ICE Brent Crude Oil (December-25-Future)74.27 USD73.80 USD-0.47 USD
EURO (Forex)1.0242 USD1.0272 USD+0.0030 USD

(EUA. UKA, Natural Gas, 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 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.

With kind regards,

Your Advantag – Team