Dear Sir or Madam,
a truly interesting week is behind us. The clearer than expected positive membership decision of the German socialist party SPD regarding a renewed grand coalition now paves the way for another chancellorship for Angela Merkel.
This will continue a government that has not used sufficient control procedures to detect tampering manipulations. At the same time, the government has not taken adequate measures to reconcile urban air pollution with EU standards in force since 2010. Vehicles with diesel internal combustion engines can now partially banned from German city centers. The mayors of the affected cities are forced to use them as a last resort, but this will hardly be possible without a blue badge, even if the Berlin politicians are currently reluctant to do so.
The urgent need to take global steps to limit the use of fossil fuels is shown by a recent study by Chinese scientists. They have found that the oceans have never been as warm as last year. The amount of energy that led to an increase in temperature compared to 2016 was 600 times the total Chinese electricity production in 2016. Climatologists worldwide will now incorporate this data into their models, and probably as a result, global warming will progress faster than theirs Worse-case scenarios feared.
Last Tuesday, the final vote was taken on the reform of EU emissions trading. As expected, this has now been decided by the EU member states. Only Poland, Hungary and Croatia did not vote in favor. In terms of content, the European greenhouse gas reduction target for 2030 has been set at 40%, which is to be achieved by an annual emission reduction factor of 2.2%. At the same time, the market stability reserve was introduced from next year, which aims to reduce the surplus certificate volumes.
The EU ETS market took this on Tuesday as an occasion to close for the first time in more than six years on a daily basis in the double-digit range. Also on a weekly basis, the EUA could increase more than three percent, which now also led to a weekly closing price of 10.10 euros per tonne of carbon dioxide.
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(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.)
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With kind regards,
Advantag Services GmbH