Emissions Trading / Carbon Market News (17/07/2023)

Dear Madam or Sir,

The European Commission will support a total of 41 major projects in Europe with the income from EU emissions trading, including seven projects from Germany.

Sustainable projects in the field of renewable energies, sustainable fuels and in the cement and steel industry are being funded with a total of 3.6 billion euros. All projects are to be implemented by 2030 and are expected to reduce more than 220 million tons of CO2 or its equivalent in other greenhouse gases.

The compliance market for European emission allowances was almost unchanged in the past trading week. In the December 23 benchmark contract, the EUAs remained stable above the important EUR 85 mark and ranged from EUR 85.06 to EUR 88.32.

This week, auctions will take place on all five trading days at the Leipzig EEX. A total of 12,589,500 EUAs will be offered for auction.

  (Average Quotes Exchange / OTC)   
EUA (Spot-Market)85.18 EUR85.05 EUR-0.13 EUR 
EUA (December-2023-Future)86.16 EUR86.04 EUR-0.12 EUR 
VER (Natural Carbon Offsets)2.39 USD2.53 USD+0.14 USD 
VER (CORSIA eligible Carbon Offsets)1.59 USD1.22 USD-0.37 USD 
nEZ (German National Carbon Units)30.00 EUR30.00 EUR+0.00 EUR 
ICE Brent Crude Oil (Benchmark Future)78.28 USD79.63 USD+1.35 USD 
EURO (Currency, Forex)1.0968 USD1.1213 USD+0.0245 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. The VER quotes are average rates (carboncredits.com), which can be used within the framework of CORSIA and voluntary carbon offsetting. 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