The CO2 Market – EU ETS 31.03.2021

The EUA price on London based exchange ICE ECX opened on 31.03.2021 at 42.05 euro/tCO2. EUAs lifted slightly on Monday as last week’s late comeback and a stronger auction encouraged to bulls that prices could re-test the record levels seen earlier this month.

Morgan Stanley raises EU carbon price outlook to €50
Carbon Pulse from London published on 30.03.2021 that Morgan Stanley has raised its near-term outlook for EU carbon prices to above €50 on “positive” political signals and continued inflow of new investor capital into the market.

Brussels launches consultation on transnational CO2 transport networks

The European Commission has launched in March 2021 a consultation on cross-border CO2 transport networks, which could get priority access for EU funding as the bloc intends to kickstart the first large-scale CCS projects by the end of the decade, while environmentalist NGOs aim to expand the current scope to other modes of transport.

Moreover, the European Commission’s upcoming June package of energy and climate laws will “propose the extension of the emission trading scheme to sectors such as building and road transport,” the EU’s energy commissioner Kadri Simson said on Thursday, 25th  March.

The inclusion of both road transport and buildings into the EU’s cap and trade scheme for greenhouse gas emissions has been mooted ever since the new Commission took office, in December 2019.

Source: Carbon Pulse, London & Euractiv, Brussels