Dear Sir or Madam,
At the 21st United Nations Climate Change Conference in Paris on 12 December 2015, the 195 members signed the commitment, made famous and celebrated as the “Paris Agreement”, to keep the increase in the average temperature of the Earth well below 2 degrees Celsius above pre-industrial levels and to make efforts to limit the temperature increase to 1.5 degrees. To achieve these goals, the signatories committed to regularly formulate their own climate protection contributions at national level, so-called NDCs (Nationally Determined Contributions).
Before the 26th UN Climate Change Conference begins in Glasgow, Scotland, in a few weeks, the UN published a report last Friday that global greenhouse gas emissions in 2030 will be 16% higher than in 2010, even if all NDCs submitted under the Paris Agreement are fully achieved. According to climate models, current emission projections put the world on track for catastrophic warming of 2.7°C by the end of the century. Against this background, the NDCs to date are insufficient and urgently need to be improved. While this has already happened here and there, the efforts of the global community are still not sufficient to meet the Paris Agreement. It must be the urgent goal of the conference in Glasgow to take immediate corrective action.
In the past trading week, the carbon price has for the first time again detached itself from the development on the energy market. In particular, the link to the gas price seems to have been abandoned by traders, at least for the time being. Over the week, the December contract corrected below the 60-euro mark, where the price currently seems to be settling.
|(Average Quotes Exchange / OTC)
|CER (Voluntary Spot-Market ø)
|VER (Gold Standard Spotmarkt ø)
|ICE Brent Crude Oil (Benchmark Future)
|EURO (Currency, Forex)
(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. CERs and VERs are average prices in the voluntary carbon offsetting market (eco securities). 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