The CO2 Market 26.09.2018
The ICE exchange from London has closed yesterday, 25.09.2018, its trading operations on CO2 and energy, as follows:
- EUA Dec ’18 futures: € 21.29
- CER Dec ’18 futures: € 0.29
- Brent Crude Dec’18 futures: $ 81.19
- German Power Q4 2019: € 54.50
Strategy for long-term on EU greenhouse gas emissions reductions
The European Commission has launched a stakeholder consultation on the strategy for long-term greenhouse gas emissions reductions.
The consultation is open until October 9 and the Commission plans to release the final version of its long-term strategy ahead of COP24, taking place at the beginning of December in Poland. The strategy, likely released in the form of a Communication, will indicate an aspirational target, but will stop short of setting binding targets.
The first question presents three options for EU’s 2050 target, in light of the Paris Agreement commitment:
- Reduce GHG emissions by 80% by 2050 compared to 1990 levels
- Reduce GHG emissions in the range of 80 to 95% by 2050 compared to 1990 levels
- Achieve a balance between emissions and removals in the EU by 2050.
In case you are interested to contribute, you can access it here.
On the same topic, OECD released a report on Tuesday, 18.09.2018 concluding that governments need to raise carbon prices much faster if they are to meet their commitments on cutting emissions and slowing the pace of climate change under the Paris Agreement.
Source: European Commission, Bruxelles and Thompson Reuters Point Carbon, London