The ICE exchange from London currently trades its CO2 operations and Brent Crude as follows:
- EUA spot: € 5.26
- EUA Dec ’16 futures: € 5.24
- CER daily futures: € 0.38
- Brent Crude futures Ian’17: $ 51.36
International Climate Change News
EU ministers have approved ratification of the Paris climate agreement, making it likely that the global greenhouse (GHG) emissions reduction deal will enter into force before the end of this year.
The unanimous decision paves the way for the European Parliament to give its consent for the deal, after which the Council of EU member states can formally adopt it. It will allow the EU to deposit its ratification instrument before each EU member state has completed its national ratification process.
So far, 61 countries, accounting for almost 48pc of global emissions have ratified the deal. The agreement will enter into force 30 days after at least 55 countries, representing at least 55pc of global emissions have ratified it. The EU accounts for around 13pc of global emissions.
Source: Argus Media, London