Just 40 years ago, the first World Climate Conference took place in Geneva (Switzerland), due to increased environmental awareness in the 1970s. The accelerated industrialization in many parts of the world has already had its first effects; the ozone hole was recognized as well as the forest dying. The Club of Rome published in 1972 with the book “The limits of growth” a work that addressed the problems of using fossil fuels for the atmosphere.
At the end of the 1970s, climate research began, which obtained reliable data through the use of weather satellites. At the same time, data from the now world-famous greenhouse gas monitoring station in Hawaii could be used, which measures the CO2 content in the air at 4,150 meters above sea level at the volcano Mauna Loa. In 1958, this showed a value of just over 300 ppm (parts per million) measured. At the World Climate Conference in 1979, it was already 335 ppm and currently the CO2 concentration is already over 400 ppm. And as knowledge and global temperature increased, scientists became increasingly aware of the link between CO2 emissions and climate change.
Knowledge is therefore not lacking for humanity, but rather for transforming knowledge into appropriate action. Although the introduction of European CO2 emissions trading in 2005 arose out of this, the decarbonization of global industry is proceeding too slowly from the point of view of many scientists. Not least, the topic is present in the population, but hardly anyone really does something for climate protection; The number of air travel continues to increase, as does the number of licensed SUVs or the consumption of low-quality assets in the industrialized nations. And politics does not want to be unpopular with fiscal controls, fearing protests like those in France, which could endanger the next election.
The extension of CO2 emissions trading to other sectors and countries, as well as a high price for direct and indirect greenhouse gas emissions, could take on even more of these necessary control effects. But the price of CO2 emission rights is still too low, even if it has increased significantly in the past twelve months.
In the past trading week, these traded in the range between EUR 21.34 and EUR 24.18 and closed with a plus of 40 cents compared to the previous week at EUR 22.20 in the spot market. Due to the limited application possibilities and the high market offer, the CER also lost another cent and fell to 22 cents on average.
| (Average Quotes Exchange / OTC) | |||
| Instrument | 2019-02-01 | 2019-02-08 | Change |
| EUA (Spotmarket) | 21.80 EUR | 22.20 EUR | +0.40 EUR |
| EUA (December-2019-Future) | 21.99 EUR | 22.37 EUR | +0.38 EUR |
| CER (Spotmarket) | 0.23 EUR | 0.22 EUR | -0.01 EUR |
| ICE Brent Crude Oil (Benchmark Future) | 62.74 USD | 62.00 USD | -0.74 USD |
| EURO (Currency, Forex) | 1.1455 USD | 1.1321 USD | -0.0134 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.
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