The ICE exchange from London currently trades as follows:

• EUA spot:  € 8.28
• EUA Dec ’16 futures: € 8.38
• CER Dec ’16 futures: € 0.48
• Brent Crude spot: $ 36.56
• German Power ‘2016: € 28,10

Carbon Expert wishes you a wonderful Christmas together with your family and beloved friends and a new year full of blessings!

The Carbon Market – 15.12.2015

The ICE exchange from London currently trades as follows:

• EUA spot:  € 8.08
• EUA Dec ’16 futures: € 8.17
• CER Dec ’16 futures: € 0.52
• Brent Crude spot: $ 37.98
• German Power ‘2016: € 28,00

Historical Global Agreement on Climate Change

The COP21 UN Climate Change Conference, which took place in Paris, reached a global agreement to tackle climate change, an outcome which represents a major landmark in addressing this global challenge.

In the Paris Agreement, adopted under the United Nations Framework Convention on Climate Change (UNFCCC), world leaders agreed to limit the rise in global temperature to well below 2°C, in order to avoid dangerous climate change.

“The Paris Agreement confirms the irreversible transition to a low carbon, safer and healthier world”, declared UNFCCC Executive Secretary, Christiana Figueres, following the adoption of the agreement.

Among the key measures in the Paris Agreement, global leaders have agreed:

• to peak greenhouse gas emissions as soon as possible and achieve a balance between sources and sinks of greenhouse gases in the second half of this century;
• to keep global temperature increase ‘well below’ 2°C, and to pursue efforts to limit it to 1.5°C;
• to review progress (upwards) every five years – a robust transparency and accountability system will track progress towards the long-term goal;
• $100 billion a year in climate finance for developing countries by 2020, with a commitment to further finance in the future.

Source: UNFCCC COP21, Paris

The CO2 Market – 9.12.2015

The ICE exchange from London currently trades as follows:

• EUA spot:  € 8.44
• EUA Dec ’15 futures: € 8.52
• CER Dec ’15 futures: € 0.58
• Brent Crude spot: $ 40.79
• German Power ‘2016: € 28,60

The International Climate Negotiations

The UNFCCC COP21 in Paris is currently on the second week of climate negotiations (30 November – 11 December 2015).

The EU today retained its formal position that any global climate deal to be reached in Paris next week should be legally binding, while acknowledging that it was “looking for solutions” with negotiating partners.

One of the central obstacles to a deal is that the US delegation will not accept legally binding greenhouse gas (GHG) mitigation targets as it knows congress would not ratify any agreement that imposes such a requirement. Despite this the EU has not yet formally changed its position to compromise on the issue, although representatives of the EU delegation today acknowledged that a strong deal could still be achieved without legally binding targets.

Source: Argus Media, London

The Carbon Market 3.12.2015

The ICE exchange from London currently trades as follows:

• EUA spot:  € 8.56
• EUA Dec ’15 futures: € 8.57
• CER Dec ’15 futures: € 0.53
• Brent Crude spot: $ 43.20
• German Power ‘2016: € 29,10

The International CO2 Market

Nine businesses, including Aviva, Sky, Fuji Xerox and DPD, have joined the UN’s Christiana Figueres to speak out about the benefits of offsetting carbon emissions, at this week’s climate negotiations in Paris at the UNFCCC.

In a video released today, the companies explain why offset strategies are good business sense, the challenges and opportunities their approach has created, and why they believe it has made a difference. Companies throughout the world, including Microsoft, Jaguar Land Rover and Marks and Spencer have adopted carbon-offset approaches to enable them to go beyond the reduction targets they could achieve through internal change.

Recent research from Carbon Disclosure Project Data shows that business who offset also take the lead in reducing their carbon emissions with the typical offset buyer cutting almost 17% of their scope 1 direct emissions compared to non offset buyers who reduced emissions by less than 5% in the same year.

By supporting carbon-offset projects, businesses are investing in the local environment and communities, delivering positive impacts beyond the carbon reduction. While these ‘co-benefits’ vary by project, a market representative average was recently calculated by Imperial College London University at $664 for every tonne of carbon offset.

Source: IETA, Paris