In Germany, the polarizing protests of #FridaysforFuture seem to be successful at the political level, because the Federal Government has formed a Cabinet Committee under the leadership of Federal Environment Minister Svenja Schulze, which is to investigate how greenhouse gas emissions in the various sectors of the economy should be reduced. Other Cabinet members include Chancellor Merkel, Minister of Economics Altmaier, Minister of Transport Scheuer and Minister of Finance Scholz.
Head of Cabinet Schulze had already submitted the draft of a German Climate Protection Act five weeks ago, which aims to ensure compliance with the German commitment to the Paris Agreement on Climate Change and provides savings targets for all sectors. As expected, this led to criticism from the CDU and CSU coalition partners.
Among other things, the bill aims to achieve significant CO2 savings by energy sector of currently more than 300 million tons by 2017, to 175 million tons by 2030, industry and buildings to save 40 million tons, and agriculture 10 million tons of CO2 or its equivalents in other greenhouse gases such as for example, methane, which accounts for more than 60% of agriculture, or nitrous oxide, which accounts for 80% of this sector.
Federal Transport Minister Scheuer will this week explain how he intends to reduce CO2 emissions in the transport sector by 40-42% compared to 1990, after he rejects a general speed limit of 120 or 130 km / h on the highways and still remains many German car buyers of heavy SUVs and other cars with high fossil fuel consumption.
Due to the Polish auction of 4,428,500 EUA held on Wednesday at the EEX in Leipzig, a total of 15,122,500 EUAs will be launched this week. After losing 8% last week, it will be interesting to see how strong the auction demand will be and if prices can hold above the € 20 mark on week-end closing prices.
|(Average Quotes Exchange / OTC)|
|EUA (Spotmarket)||22.36 EUR||20.52 EUR||-1.84 EUR|
|EUA (December-2019-Future)||22.47 EUR||20.67 EUR||-1.80 EUR|
|CER (Spotmarket)||0.22 EUR||0.22 EUR||+0.00 EUR|
|ICE Brent Crude Oil (Benchmark Future)||67.03 USD||66.40 USD||-0.63 USD|
|EURO (Currency, Forex)||1.1324 USD||1.1300 USD||-0.0024 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.)
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