The ICE exchange from London currently trades its CO2 operations and Brent Crude as follows:
- EUA spot: € 4.30
- EUA Dec ’16 futures: € 4.35
- CER daily futures: € 0.39
- Brent Crude futures ’16: $ 47.73
All new passenger vehicles sold by 2035 must not emit any CO2, if the world is to meet the Paris climate deal’s goal to limit the global temperature rise this century to 1.5°C, research group Climate Action Tracker (CAT) has said.
And even this could be too late to avoid the need for significant subsequent negative emissions, it said. A large-scale deployment of electric vehicles will have to be accompanied by power sector decarbonisation to ensure that the vehicles are truly emissions free, Cat said.
The Paris agreement sets targets to keep global warming “well below” 2˚C and “pursue efforts” to limit any increase in temperatures to 1.5˚C.
Source: Argus Media, London