Dear Sir or Madam,
On the last day of the G7 conference in Biarritz, France, climate protection is on the program. After the experience of the past with Mr Trump, it is no wonder that for the first time in the history of the summit, no joint final declaration is planned. All the more surprising is the news that the US President plans to enrich the host’s compulsory press conference this afternoon with his presence, which would also be a novelty.
The Senator of Vermont and presidential candidate for the Democrats 2020, on the other hand, presented a resolution on climate change last Thursday, setting out the goals and principles for the US fight against climate change. Unlike the incumbent president, Sanders recognizes that climate change is a major concern and that the United States must reduce its greenhouse gas emissions to zero by the middle of the century. As the news portal vox.com reported, most of the other presidential candidates have set the year 2050 as the target for carbon neutrality. Sanders’ plan, however, also sets an interim target: By 2030, transport and power generation, the two largest sources of emissions in the US, should be decarbonised, reducing US emissions by 71 percent. The plan also provides for the US to help developing countries reduce their emissions by 36 percent by 2030.
In the market for European Pollution Rights, the Bears also set the tone last week. Apparently under the impression of the further escalating trade dispute between the US and China, the price of oil has clearly given way and thus no turnaround could be initiated for EUAs. At the London ICE, a price of just under 25 euros was even called in the short term, which represents a nine-week low. The massive price increase in June and July was thus completely consumed. In today’s early trading, however, the market is clearly up and has already gained almost 50 cents.
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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