The children and young adults who have attracted a lot of attention with the Fridays for Future movement are protesting climate policies that they believe are not ambitious enough to make their future and that of subsequent generations worth living.
This fear has meanwhile been overtaken by the reality of dramatically increasing environmental disasters; advancing climate change is already threatening our prosperity today. Despite all the uncertainty about its exact extent, there is no doubt that the costs of climate damage will significantly exceed the costs of preventing climate change.
Against this backdrop, one might expect a clear, stringent policy that sets the climate-economic framework through clear messages and decisions. However, the extreme change of direction in the US could also increasingly be reflected in European climate diplomacy. As the culmination of this policy, on 12 February the US government under President Donald Trump repealed the so-called 2009 Endangerment Finding, which classified greenhouse gases such as CO2 as hazardous to health and formed the basis for many environmental laws. Trump and the US Environmental Protection Agency argued that these regulations were damaging to the economy and should therefore no longer be applied.
Many environmental organisations and individual states have already announced that they will take legal action against this.
The EU member states Sweden, Denmark, Finland and Luxembourg also made it clear that they reject this ostrich strategy and warned against further postponing the new EU emissions trading scheme for buildings and transport (ETS2) or gutting it through structural interventions.
At the same time, the European Council is working on a technical refinement of the market stability reserve (MSR) regulation so that additional allowances can be brought onto the market more quickly in the event of price spikes. It is to be hoped that this will remain merely a fine-tuning exercise so that the climate signal is not further weakened and investments are not held back or even implemented in a climate-damaging manner due to uncertain political conditions.
In an interview last week, EU Climate Commissioner Wopke Hoekstra rejected the notion that climate policy is the main driver of high energy prices. Instead, his agenda focuses on creating demand for clean products, accelerating infrastructure expansion and massively increasing capacity in batteries, solar and wind power — with the aim of reducing prices in the long term, strengthening independence and securing jobs.
In the short term, he cites reducing bureaucracy and national tax levers as options for relieving the burden on the economy. For Hoekstra, climate protection, competitiveness and strategic autonomy must be considered together to keep energy-intensive industry in Europe. Social balance must not be neglected in the process.
Last Saturday, the US military launched extensive attacks against the regime in Tehran, which came as no surprise. At the same time, Israel also launched a pre-emptive strike against Iran. The price of Brent crude oil reached a seven-month high at settlement; in early trading today, it initially rose further. A barrel (159 litres) for delivery in April rose by almost $10 or 14 per cent in the first few minutes of trading, reaching $82.37, its highest price since January 2025. After initial double-digit gains at the start of trading, oil prices gave up some of their gains by 0.30 a.m. but were still up around nine per cent.
After the previous upturn, EUA prices had a weaker trading week, losing all the gains made in the previous week. The market experienced its sharpest decline on Thursday, when the price fell by more than 3 euros within just one hour. This attracted several compliance buyers, which led to a slight recovery until Friday’s settlement.
Instrument
20/02/26
27/02/26
Change
EUA (December-26-Future)
73.78 EUR
70.29 EUR
-3.49 EUR
EUA2 (December-28-Future)
66.64 EUR
67.10 EUR
+0.46 EUR
nEZ25 (national Emission Allowances (D))
55.00 EUR
55.00 EUR
+0.00 EUR
UKA (December-26-Future (UK))
47.62 GBP
46.14 GBP
-1.48 GBP
UK Natural Gas (December-26-Future)
80.98 GBP
82.48 GBP
+1.50 GBP
ICE Brent Crude Oil (December-26-Future)
67.43 USD
73.15 USD
+5.72 USD
EURO (Forex)
1.1728 USD
1.1806 USD
+0.0078 USD
(EUA, EUA2, UKA, Natural Gas, Crude Oil and Euro Currency shows day-end-exchange quotes of the benchmark contract. 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 or book here a call with one of our specialists.
The year 2025 has also brought great challenges for all of us and continued to be overshadowed by war in Ukraine and Gaza.
The European economy also struggled this year with continued high energy prices, declining orders and ongoing stagnation.
In times like these, reliable business partners and dependable employees are more important than ever.
We would therefore like to express our sincere thanks for the excellent and trusting cooperation with you this year!
The Advantag team wishes you, your friends, family members, employees and colleagues a peaceful Christmas and a good start to a healthy and successful New Year in 2026!
In 2025, we will once again not be giving away material gifts, but will remain active in the spirit of climate protection by jointly promoting global climate protection projects and supporting the great work of ‘action medeor e. V.’ from Tönisvorst in helping people in need.
That is why we have chosen the Indian climate protection project ‘Biomass-based combined heat and power plant’ in the district of Andhra Pradesh this year. This biomass-based project avoids the emission of approximately 86,000 tonnes of CO2 annually and ensures environmentally friendly plantations without deforestation of tropical forests or drainage of moorland areas.
We look forward to working for you again in the new year 2026.
From October 2025, banks will be legally obliged to check whether the name of the payee matches the holder of the IBAN recipient account before releasing a transfer.
These changes particularly affect companies that make or receive bank transfers. The focus here is on the so-called IBAN verification with the payee for SEPA payments (Verification of Payee).
Verification of Payee is a procedure for checking account information before executing a SEPA transfer, which ensures that
the account holder name specified in the IBAN (International Bank Account Number) correctly matches the name of the payee,
incorrect transfers due to incorrect information are avoided, and
attempts at fraud can be detected at an early stage.
This procedure is being introduced as mandatory for all SEPA payments in Europe.
Due to this new regulation, the bank is liable in the event of an incorrect transfer if the IBAN and the recipient’s name do not match.
If the IBAN and account number do not match due to incorrect information provided by the payer, the payer is liable; this also applies to minor discrepancies.
When making payments to our bank account, the following details must therefore be provided in order to avoid problems with payment transactions:
Payee: Advantag GmbH
IBAN: DE68 4306 0967 1341 7260 01
BIC: GENODEM1GLS
Bank: GLS Gemeinschaftsbank eG
Address: Christstraße 9, 44798 Bochum
Only by providing the correct recipient name and IBAN/BIC can we guarantee that payments will be received by us from 1 October 2025.
We are happy to assist you with any questions you may have in this regard.
Germany plans to auction a total of 96,764,500 emission allowances at the EEX in Leipzig this year.
Due to the shutdown of the Neurath A and Frechen power plant units in 2022 as part of the Coal Phase-Out Act, approximately 890,000 tonnes of CO2 will not be emitted in 2023.
A large portion of the relevant allowances have already been retired as part of the market stability reserve (MSR). The Federal Environment Agency has now announced that Germany will withdraw a total of 514,000 EUAs from the market in such a way that they will not be auctioned on the EEX. The auction calendar will be adjusted accordingly in the coming weeks.
On Wednesday, new proposals from the European Commission regarding the EU climate targets for 2040 are expected. It is highly likely that there will also be intensive discussions about the launch of EU ETS 2.
Austria has now joined an initiative originating in the Czech Republic, which is already supported by 15 countries, including Italy, Poland, Slovenia, Belgium, Croatia and Germany.
These countries have written a letter calling for changes to the EU ETS 2, which is set to start across Europe in 2027 for the building and transport sectors.
The initiative has expressed concerns about the unpredictability of prices at the start and is calling for improvements for businesses and consumers to be made before the launch.
The background to this is the fear of political risks if emissions trading causes energy prices to rise too sharply before accompanying and appropriate compensation and support measures have been put in place.
With only 18 months to go before the EU ETS is scheduled to start, there is therefore a need for urgent action.
Prices in the EU ETS 1 fell by another 2.8% in the past trading week after a ceasefire between Iran and Israel last week.
Brent crude oil fell significantly more sharply, losing 10.1% over the week, while British gas lost as much as 16.2%.
However, as the ceasefire in the Middle East is very fragile, renewed military conflict could lead to a backlash on the energy markets.
A total of 11,346,500 EUAs are being offered for auction on the European Energy Exchange in the current trading week. This is 15.4% less than in the previous week, as the Polish Wednesday auction is not taking place.
(EUA, EUA 2, UKA, Natural Gas, Crude Oil and Euro Currency shows day-end-exchange quotes of the benchmark contract. 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 or book here a call with one of our specialists.