The ICE exchange from London opened down its CO2 operations:
- EUA spot: € 7.46
- EUA Dec 15 futures: € 7.49
- CER Dec 15 futures closed: € 0.39
- Brent Crude spot: $ 64
- German Power Front Month (June 15): € 31.55
The International Carbon Market
German Chancellor Angela Merkel with her counterparts at this year’s G7 summit, in front of the picturesque Alpine scenery, achieved a commitment of the participants to maintain the 2 ° C objective, which was previously considered rather unlikely. Critics, of course, remain in abundance as the realisation of the plans no longer fall in the electoral term of the current actors.
On the other hand, however, there was also praise from an unlikely source – environmental activists Greenpeace sees the G7 decision as a breakthrough and many other observers of the action see this as an important and strong signal for this year’s UN Climate Change Conference in Paris.
The path to significantly reduce greenhouse gas emissions by 2050 and to end the use of fossil fuels by the end of the century for the maximum decarbonisation in this century is an ambitious goal, but one which does not seem unattainable, if, for example, one thinks of the renunciation of the use of CFCs in aerosol cans and refrigerators, which contributed to the creation of the ozone hole in the 1980s.
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