Dear Madam or Sir,
In particular, the protagonists and supporters of a German party that idolises diesel and because of which millions of people are currently taking to the streets in Germany often argue that it would help nothing for climate protection if only Germany and Europe were to reduce greenhouse gases, while the rest of the world would do nothing of the sort.
But this argument is based on faith and not on facts and knowledge and at best serves to dumb people down. The fact is that most of the world’s wind power is generated in China, followed by the USA, Germany and Brazil. Without this, the increase in greenhouse gases in the atmosphere would have been even more significant.
Last Thursday, the Finnish “Centre of Research on Energy and Clean Air”, or “CREA” for short, published a report showing that green investments accounted for 40% of the growth in China’s gigantic economic output last year.
This includes electromobility, wind and solar energy systems, rail transport, hydropower, nuclear energy and energy storage. A total of USD 890 billion was invested in these areas in China, which enabled economic growth of 5.2%; without these investments, growth would have been significantly lower at 3.0%.
What’s more, pricing of greenhouse gas emissions has already been introduced in many countries around the world, following the European model. The emission of one tonne of CO2 currently costs the equivalent of US$ 10.27 in China, US$ 6.72 in South Korea, US$ 70.90 in New Zealand and US$ 28.66 in California, the world’s fourth largest economy.
Prices in EU emissions trading hardly moved at all last week on a weekly closing price basis, but they broke free from the steep sideways-downward trend channel over the course of the week and moved in a trading range between EUR 60.86 and EUR 66.43 in the benchmark December 2024 contract.
In this trading week, a total of 13,404,500 EUAs will be offered for auction on all five trading days on the European Energy Exchange.
|(Average Quotes Exchange / OTC)
|VER (Natural Carbon Offsets)
|VER (CORSIA eligible Carbon Offsets)
|nEZ (German National Carbon Units)
|ICE Brent Crude Oil (Benchmark Future)
|EURO (Currency, Forex)
(The VER quotes are average rates (carboncredits.com), which can be used within the framework of CORSIA and voluntary carbon offsetting. 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.
With kind regards,
ADVANTAG Services GmbH