Dear Sir or Madam,
According to a study by the think tank ‘Agora Agrar’, greenhouse gas emissions in the European Union could be halved by 2045 in the agricultural sector and especially in peatlands used for agriculture.
In line with this, EU Commission President Ursula von der Leyen last Friday called for new financial instruments, similar to the EU Emissions Trading System (EU ETS), which “reward those who serve this planet”.
In particular, companies that benefit from an intact natural environment should financially reward local communities for preserving it. Von der Leyen gave examples such as pure spring water or orchards that rely on bees.
At the end of her speech, the Commission President explained that intensive work was already underway with EU member states to develop the first pilot projects to support this process.
Prices in the EU ETS slumped further for the fourth week in a row last week, closing down 2.3% just below the EUR 65 mark and hitting a seven-week low at the same time. The 200-day line, which currently stands at 66.24, was only temporarily broken upwards at the beginning of the week, but proved to be a stable resistance. It remains to be seen whether the EUA will succeed in sustainably overcoming this barrier this week or whether the price will trend towards the EUR 60 line.
Auctions totalling 12,658,000 emission allowances are scheduled on the EEX on all five trading days this week, including 906,000 EUAs for aviation on Wednesday, which can also be used for stationary installations.
In view of the current situation, we would like to point out that it is important that companies obliged to surrender their national emission allowances for the year 2024 (nEZ24) in Germany’s national emissions trading system in accordance with the BEHG only surrender them in the coming year so that they are available on the registry account on 31 December 2024 and thus the purchase option of 10% of this volume can be exercised in the coming year at the same price of EUR 45.00.
If you have any questions, please do not hesitate to contact us.
| (Average Quotes Exchange / OTC) | |||
| Instrument | 06/09/24 | 13/09/24 | Change |
| EUA (December-2024-Future) | 66.50 EUR | 64.99 EUR | -1.51 EUR |
| VER (Natural Carbon Offsets) | 0.31 USD | 0.27 USD | -0.04 USD |
| VER (CORSIA eligible Carbon Offsets) | 0.20 USD | 0.23 USD | +0.03 USD |
| nEZ (German National Carbon Units) | 45.00 EUR | 45.00 EUR | +0.00 EUR |
| ICE Brent Crude Oil (Benchmark Future) | 72.27 USD | 72.49 USD | +0.22 USD |
| EURO (Currency.. Forex) | 1.1085 USD | 1.1071 USD | -0.0014 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 GmbH