The ICE exchange from London has closed yesterday, 16.10.2018, its trading operations on CO2 and energy, as follows:
- EUA Dec ’18 futures: € 19.48
- CER Dec ’18 futures: € 0.29
- Brent Crude Dec’18 futures: $ 80.98
- German Power Q4 2019: € 51.050
The Global Warming Scientific Data
“The world must cut CO2 emissions 45% below 2010 levels by 2030 and achieve net zero emissions by mid-century if it is to stand a chance of limiting global warming to 1.5C”, the Intergovernmental Panel on Climate Change (IPCC) said on 10th October 2018, in a report highlighting the far-reaching differences in impact between 1.5C and 2C of warming.
The Special Report on Global Warming of 1.5°C will be a key scientific input into the Katowice Climate Change Conference in Poland in December, when governments review the Paris Agreement to tackle climate change. The EU emission reduction targets on medium term is in line with this trend (40% reduction by 2030 compared to 1990 levels), but it is likely to be revised.
The report highlights a number of climate change impacts that could be avoided by limiting global warming to 1.5°C compared to 2°C, or more. For instance, by 2100, global sea level rise would be 10 cm lower with global warming of 1.5°C compared with 2°C. The likelihood of an Arctic Ocean free of sea ice in summer would be once per century with global warming of 1.5°C, compared with at least once per decade with 2°C. Coral reefs would decline by 70-90 percent with global warming of 1.5°C, whereas virtually all (> 99 percent) would be lost with 2°C.
The report finds that limiting global warming to 1.5°C would require “rapid and far-reaching” transitions in land, energy, industry, buildings, transport, and cities. Global net human-caused emissions of carbon dioxide (CO2) would need to fall by about 45 percent from 2010 levels by 2030, reaching ‘net zero’ around 2050. This means that any remaining emissions would need to be balanced by removing CO2 from the air using advanced technology.
Source: IPCC Report, 10 October 2018