Dear Sir or Madam,
As of today, Monday, the first part of the Intergovernmental Panel on Climate Change’s (IPCC) new Assessment Report will be presented. The Assessment Reports of the IPCC serve as the authoritative basis for global climate policy and will also play a role at the UN Climate Change Conference in Glasgow in November.
The president of this climate summit is Alok Sharma, a not uncontroversial British politician who was also Minister for Business, Energy and Industrial Strategy until January this year and currently directly supports government work as a Minister of State in the Cabinet Office. Regarding the new assessment report, Sharma spoke at the weekend, according to media reports, of the most urgent warning against climate change to date. According to the report, it is based on scientific evidence that human behaviour is accelerating global warming at an alarming rate. Sharma is quoted as saying, “Every day, in one way or another, we will see a new record in the world.”
To confirm the accuracy of this statement, one only must look at the current news, in which there is not enough space left to comment on all the catastrophes that are currently taking place simultaneously and on all continents. Among the records mentioned by Sharma is the massive melting of the Greenland ice sheet. In combination with far too high temperatures, eight billion tonnes of ice melted in one day alone, so much that an area the size of Florida could be submerged by five centimetres.
Last week, the CO2 price completely decoupled from the oil price and instead dynamically continued its strong upward trend. Since the beginning of the week, the reduced auction volumes have applied on the EEX. Here, persistently high demand led to good auction results, which further boosted the price rise in the direction of the 57-euro mark.
Against this background of such carbon prices, it is not surprising that more and more Eastern European EU countries are also accelerating their plans to decommission coal-fired power plants. And the energy supplier Uniper also wants to shut down one of the four units of its British coal-fired power plant Ratcliffe as early as the end of September 2022 and completely decommission this plant two years later.
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(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.)
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With kind regards,
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