Emissions Trading / Carbon Market News (13/09/2021)

Dear Sir or Madam,

Actually the term is utter nonsense: climate protection. Nobody has to protect the climate, because the climate doesn’t care what it is like. Rather, it is about protecting the conditions for human life. The planet will adapt to the climate, that much is certain. Animal species will disappear and new, more resilient forms of life will emerge. No one can specifically predict whether human race will be sufficiently resistant to the climate catastrophe they have accelerated. But one thing is certain, however – extreme weather events will continue to increase in the future. In order to reduce the speed of climate change to an adaptable level, a swift global approach is essential.

US President Joe Biden recognized this in contrast to his predecessor, who had significantly lower cognitive abilities, and last week declared the “red alert”: “The country and the world are in danger. This is not an exaggeration. That’s a fact. “, said US President Joe Biden in view of the recurring devastating forest fires in California and Hurricane Ida. Accordingly, an additional $ 24 billion should now be considered in the budget. In Germany, too, the consequences of extreme weather events are increasingly costing money: the uninsured damage from the heavy rain catastrophe alone is estimated at 30 billion euros. And that’s just the interim balance for 2021.

Last week, the prices for European CO2 emission rights rose again significantly and on Wednesday marked a new all-time high at EUR 63.35 per EUA; accompanied by bullish energy prices. However, EUA rates came under pressure on Friday after the completion of Nord Stream 2 was confirmed and is set to deliver gas from Russia before the end of the year. As a result, some market participants took profits and the trading week closed at EUR 60.92 in the ICE December futures contract.

  (Average Quotes Exchange / OTC)   
EUA (Spot-Market)61.23 EUR60.89 EUR-0.34 EUR
EUA (December-2021-Future)61.32 EUR60.92 EUR-0.40 EUR
CER (Voluntary Spot-Market ø)3.26 USD3.26 USD+0.00 USD
VER (Gold Standard Spotmarkt ø)14.03 USD14.03 USD+0.00 USD
ICE Brent Crude Oil (Benchmark Future)72.56 USD73.42 USD+0.86 USD
EURO (Currency, Forex)1.1877 USD1.1810 USD-0.0067 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