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US oil giant Exxon has been a denial of climate change for many years, floating on a wave with US President Donald Trump and other populists around the world. The company has repeatedly tried to sow doubts about whether climate change is caused by humans.
Exxon was well aware that climate change was caused by the use of fossil fuels like oil. As early as 1982, the Group itself produced forecasts that showed the evolution of the global average temperature in relation to the CO2 concentration in the air. This calculation was so precise that it predicted the CO2 concentration for 2019 at 420 ppm (Particles Per Million) and a warming of 0.9°C over pre-industrial times.
Currently, the CO2 content is already at 415 ppm and should be according to the study in the year 2050 at about 500 ppm, which would correspond to a global warming of 2°C. By 2080, the calculation would have reached 3°C at a concentration of 600 ppm CO2 in the atmosphere.
There are also politicians and parties in Europe who deny human-induced climate change, even though they have sufficient scientific evidence to prove the link between greenhouse gas emissions and global warming. Next Sunday is the European elections and one can only hope for future generations that there are enough intelligent voters who refuse to speak out to liars who speak of clean diesel and negate climate change.
CO2 emission allowances rose more sharply by the middle of the week last week, but eased slightly at the end of the trading week as the US-China trade dispute weighed on sentiment in the financial markets. A total of 15,235,000 emission allowances will be auctioned on EEX this week, including 112,500 EUAA for aviation. Next week, only 2,495,000 EUAs will be auctioned on Tuesday. Therefore, the demand for the auctions this week should be interesting.
|(Average Quotes Exchange / OTC)|
|EUA (Spotmarket)||25.54 EUR||24.94 EUR||-0.60 EUR|
|EUA (December-2019-Future)||25.62 EUR||25.00 EUR||-0.62 EUR|
|CER (Spotmarket)||0.22 EUR||0.22 EUR||+0.00 EUR|
|ICE Brent Crude Oil (Benchmark Future)||70.60 USD||72.08 USD||+1.48 USD|
|EURO (Currency, Forex)||1.1233 USD||1.1157 USD||-0.0076 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.
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