Dear Madam or Sir,
The Taiwan Carbon Solutions Exchange, TCX for short, was opened in Taiwan at the end of last year. So far, only transactions with international carbon credits have been carried out here. The first national Taiwanese emission allowances are now expected to be traded here from October.
There will be three different types of certificates: provisional emission allowances, statutory emission allowances and voluntary emission reduction certificates. These can also be traded in three different ways. Either the buyer determines the price, the buyer or seller agree on a price to be communicated to the Ministry of the Environment or auctions are organised with a minimum price. TCX charges a fee of 5% of the contract volume for all transactions.
Here too, the introduction of the CBAM border adjustment mechanism in the European Union is likely to have been a decisive factor, as in China, where emissions trading is now also to be expanded, as previously only energy suppliers were affected.
The EU would do well to work consistently on a global emissions trading market under the leadership of the European Union before the Asian countries join forces here and claim the leading global position solely on the basis of their trading volume.
Prices in European Emissions Trading System were cautiously bullish last week, but remained stable above the EUR 70 mark. The EUAs of the benchmark December 2024 contract ended the last trading week up 3.4% and closed at a price of EUR 72.52 per tonne of CO2 or its equivalent in other greenhouse gases.
Due to the missing Polish auction this Wednesday, only 11,094,500 EUAs will be auctioned on the Leipzig EEX in the new trading week.
| (Average Quotes Exchange / OTC) | |||
| Instrument | 09/08/24 | 16/08/24 | Change |
| EUA (December-2024-Future) | 70.14 EUR | 72.52 EUR | +2.38 EUR |
| VER (Natural Carbon Offsets) | 0.48 USD | 0.44 USD | -0.04 USD |
| VER (CORSIA eligible Carbon Offsets) | 0.14 USD | 0.24 USD | +0.10 USD |
| nEZ (German National Carbon Units) | 45.00 EUR | 45.00 EUR | +0.00 EUR |
| ICE Brent Crude Oil (Benchmark Future) | 80.32 USD | 80.01 USD | -0.31 USD |
| EURO (Currency.. Forex) | 1.0914 USD | 1.1026 USD | +0.0112 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