Dear Sir or Madam,
In a recent study, the University of Hamburg (UHH) has analysed the indirect effects of the EU Emissions Trading System on hazardous air pollutants. The findings of the Cluster of Excellence “Climate, Climatic Change and Society” (CLICCS) show that the European Emissions Trading System has both climatic and significant health benefits, while also saving billions in costs.
Since the introduction of emissions trading, 15 million tonnes of sulphur dioxide, one million tonnes of particulate matter and five million tonnes of nitrogen oxides have been reduced in the obligated sectors by 2021. The improved health situation creates an important additional incentive to support climate policy, as the University of Hamburg was able to show avoided health damage totalling more than 100 billion euros on the basis of official cost rates from the German Federal Environment Agency.
Prices in EU emissions trading moved sideways downwards again in the past trading week and closed exactly one cent below the 200-day line on Friday, which stands at EUR 69.20.
It will be interesting to see in the coming weeks when compliance buyers in the EU ETS will start to procure the volumes they have not yet purchased for 2023 on the market.
This week, a total of 13,404,500 EUAs will be auctioned on the EEX on all five trading days and it remains to be seen whether the price will manage to break through the 100-day line on a sustained basis.
(Average Quotes Exchange / OTC) | |||
Instrument | 05/07/24 | 12/07/24 | Change |
EUA (December-2024-Future) | 70.36 EUR | 69.19 EUR | -1.17 EUR |
VER (Natural Carbon Offsets) | 1.01 USD | 1.03 USD | +0.02 USD |
VER (CORSIA eligible Carbon Offsets) | 0.21 USD | 0.24 USD | +0.03 USD |
nEZ (German National Carbon Units) | 45.00 EUR | 45.00 EUR | +0.00 EUR |
ICE Brent Crude Oil (Benchmark Future) | 86.90 USD | 85.44 USD | -1.46 USD |
EURO (Currency.. Forex) | 1.0839 USD | 1.0912 USD | +0.0073 USD |
(The VER quotes are average rates (carboncredits.com). which can be used within the framework of CORSIA and voluntary carbon offsetting, 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.)
Please call our international carbon desk if any further questions exist: +49.2831.1348220.
With kind regards,
ADVANTAG Services GmbH