The German Economics Minister Peter Altmaier (CDU) was Federal Environment Minister from May 2012 to December 2013 and has been Federal Minister for Economics and Energy since March 2018, as the ministry has been called since December 2013.
Minister of Economic Affairs Altmaier has now announced with regard to the topic of climate protection that this has priority over all other topics and should be given higher priority in all political decisions. This is surprising in that Altmaier has been rather negative about stricter climate and environmental protection requirements in his position as Minister of Economics.
Nevertheless, he wants the “Charter for Climate Neutrality and Economic Power” to be passed with the help of the opposition before the federal elections next year. This includes the goal of climate neutrality by 2050, which is to be achieved through annual CO2 budgets from 2022, among other things. Public institutions should first become climate neutral as early as 2035. Climate-neutral companies are to be promoted with government grants. In addition, CO2 emissions are to be reduced by 55% by 2030 compared to 1990; previously the target was less ambitious at 40%. As a further measure, the price for CO2 emissions in the national emissions trading for buildings and transport is also to be increased. It remains to be seen how the trade associations will react to this move.
The price for European CO2 emission rights has visibly increased again last week after the losses of the previous week, as the European Commission has also proposed the greenhouse gas reduction target of 55% by 2030 compared to 1990 and now wants to present a draft in the coming days. The ENVI environmental committee had previously even agreed on 60%.
| (Average Quotes Exchange / OTC) | |||
| Instrument | 04/09/2020 | 11/09/2020 | Change |
| EUA (Spot-Market) | 27.41 EUR | 28.24 EUR | +0.83 EUR |
| EUA (December-2020-Future) | 27.36 EUR | 28.26 EUR | +0901 EUR |
| CER (Spot-Market) | 0.29 EUR | 0.31 EUR | +0.02 EUR |
| ICE Brent Crude Oil (Benchmark Future) | 42.31 USD | 39.72 USD | -2.59 USD |
| EURO (Currency, Forex) | 1.1839 USD | 1.1836 USD | -0.0003 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. CER CP1 and ERU are eligible in ETS until end of March 2015 and must be swapped into EUA. 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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