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Dear Sir or Madam,
At the beginning of last week, the Federal Environment Agency (UBA) published a proposal to anchor a new “Joint Task on Climate Adaptation” in the German Constitution and to pass a nationwide climate adaptation law. On its website, the UBA referred to existing, scientifically based proposals for measures with which public administrations, but also companies and private individuals, can reduce losses, prepare for extreme weather events, and adapt to unavoidable climate consequences.
The President of the UBA, Dirk Messner, is also quoted in another context with far-reaching demands aimed at multiplying the annual expansion of wind energy and photovoltaics. In the transport sector, moreover, not only electrification must be advanced, but also the number of automobiles reduced. He also complained that Germany was still much too slow in the sector of climate-friendly building renovation.
Given the current news situation, these demands seem more than timely, if not belated. Above all, the intensity in implementing measures against climate heating must be driven forward globally by all governments, business enterprises and societies.
This is underpinned by the examples from Russia and currently from Italy. Only a few hundred kilometers apart, there is a disaster situation in the north of Italy caused by severe weather, with floods and landslides, while areas in the south of the country are on fire.
A look at the carbon market shows a strong recovery. After the support at 50 euros had previously held steady, the bulls took the initiative on Monday of the last trading week and drove the price up by more than three euros through massive buying. For the rest of the week, the price stabilised in an unexcited sideways movement above the 53-euro mark. Parallel to this, subdued optimism persisted on the oil market, but the rally was clearly slowed down.
|(Average Quotes Exchange / OTC)|
|EUA (Spot-Market)||50.88 EUR||53.31 EUR||+2.43 EUR|
|EUA (December-2021-Future)||50.89 EUR||53.33 EUR||+2.44 EUR|
|CER (Voluntary Spot-Market ø)||2.66 USD||2.66 USD||+0.00 USD|
|VER (Gold Standard Spotmarkt ø)||14.99 USD||14.99 USD||+0.00 USD|
|ICE Brent Crude Oil (Benchmark Future)||74.11 USD||75.17 USD||+1.06 USD|
|EURO (Currency, Forex)||1.1770 USD||1.1869 USD||+0.0099 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 (eco securities). 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