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Dear Sir or Madam,
Yesterday, the 24th World Climate Change Conference (COP24) was launched with participants from 196 states parties in Katowice, Poland, the heart of the Silesian Coal Basin. Already in 2013, the conference took place in the Polish capital, as 80% of Poland’s energy supply comes from coal.
Starting today, leaders will meet to formulate political expectations for the conference and in particular send a signal for “just transition,” the just transition to a climate-neutral world. This week is being negotiated at civil servants level. In doing so, the texts underlying the negotiations should have the greatest possible consensus. Points for which no agreement can yet be reached will be negotiated at ministerial level in the second week. On Friday, December 14, the final documents will be approved by the plenary session of the Conference of the Parties.
In the run-up to last week, the European Commission presented a roadmap for the transition to a low-carbon economy. According to the European Commission, greenhouse gas emissions in the EU should be reduced by 80% by 2050 compared to 1990 levels; By 2030 it should be 40%, by 2040 then 60%.
Here, the Commission sees the greatest savings potential in electricity generation and distribution, as it could be virtually emission-free by 2050, replacing fossil fuels with renewable energies. The transport sector should also generate 60% less emissions and the building emissions 90%. The industry should also contribute its share through energy-efficient technologies with a reduction of 80% by 2050. In agriculture, however, growth is forecast to increase by one-third due to rising global demand.
In addition, the German Federal Environment Agency published updated cost rates last week, according to which each tonne of CO2 emitted causes damages of € 180. These include destroyed ecosystems, dying animal and plant species, production losses, crop losses or damage to buildings and infrastructure. The lignite-fired power generated in Germany alone resulted in environmental damage costs of € 31.2 billion in 2016, or just under 21 cents per kilowatt-hour.
As a result of our collective action and our consumption-oriented lifestyle, 2018 became one of the hottest years since weather records began, according to World Meteorological Organization WMO last Thursday. It is the fourth-hottest year since weather records began. The WMO warns urgently that the time to act is scarce and makes, like all other reputable organizations and scientists also, the people responsible as a fire accelerator.
Even in otherwise rain-prone Germany, in 2018, the largest drought ever recorded since 140 years ago began. The extremely low water levels of the rivers are still noticeable, despite a slight increase in precipitation. You do not have to be a coffee grinder reader to see what will happen if the glaciers of the Alps are no longer supplying water and such periods of drought persist for several years.
It is therefore to be hoped that the negotiations in Katowice will be successful and that those responsible for global greenhouse gas emissions will pave the way for transition to a low-carbon future. Because climate change is here and we are already experiencing the beginning of the effects.
|(Average Quotes Exchange / OTC)|
|EUA (Spotmarket)||20.18 EUR||20.50 EUR||+0.32 EUR|
|EUA (December-2018-Future)||20.21 EUR||20.50 EUR||+0.32 EUR|
|CER (Spotmarket)||0.27 EUR||0.27 EUR||+0.00 EUR|
|ICE Brent Crude Oil (Benchmark Future)||59.00 USD||59.17 USD||+0.17 USD|
|EURO (Currency, Forex)||1.1337 USD||1.1316 USD||-0.0021 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 or +44.20.79790283.
With kind regards,
Advantag Services GmbH