Dear Sir or Madam,
The German Bundestag passed the climate protection law last Friday and now only has to pass the Bundesrat. The law sets out how much CO2 can be emitted each year in the areas of buildings, transport, agriculture, energy and industry. The goal of greenhouse gas neutrality by 2050 for Germany will be enshrined in law for the first time. So far, the Federal Government’s 2050 target has been 80 to 95 percent CO2 reduction. The starting price per tonne of CO2 for the transport and housing sectors should be just 10 euros from 2021 onwards.
The German Greens, on the other hand, who have just held their congress in Bielefeld, demand a price of 60 euros per tonne of CO2 and could head for the Chancellery with consistently good election polls.
Regardless, even Chancellor Angela Merkel sees a global warming of 3°C as likely, should the international community remain with the current climate protection goals. According to the Federal Chancellor, 20 percent of the world’s population consumed 80 percent of global resources, which is why these states have a special responsibility.
Greenhouse gas prices continued to be slightly bearish last week, losing nearly one euro. It can not be ruled out that the market will remain under pressure in the new trading week and wants to test the half-year low of EUR 22.03, after having broken important technical support measures. In addition, this week will bring 15,781,000 on five trading days on the Leipzig EEX for auction.
|(Average Quotes Exchange / OTC)|
|EUA (Spotmarket)||24.84 EUR||23.85 EUR||-0.99 EUR|
|EUA (December-2019-Future)||24.84 EUR||23.85 EUR||-0.99 EUR|
|CER (Spotmarket)||0.18 EUR||0.16 EUR||-0.02 EUR|
|ICE Brent Crude Oil (Benchmark Future)||62.64 USD||63.35 USD||+0.71 USD|
|EURO (Currency, Forex)||1.11018 USD||1.1051 USD||+0.0033 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.)
Please call our international carbon desk if any further questions exist: +49.2831.1348220.
With kind regards,
Advantag Services GmbH