The ICE exchange from London closed down its operations:
- EUA spot closed at € 6.53
- EUA DEC14 futures closed at € 6.55
- CER futures contract Dec14 closed at € 0.02
- Brent Crude Front Month trade at $ 63.85
- German Power Front Month trade at € 37.00
The International Carbon Market
The United Nations Framework Convention on Climate Change (2 – 12 December 2014) takes place in Lima, Peru. The Convention is attended by heads of state and government, and representatives from all fields: economic, social (foundations and various associations), media etc.
The main topics on the agenda of the Conference are the followings: making a draft text for the UN Conference of the next year, in Paris, so that all governments can establish specific targets for emission reductions, which are comparable between countries, and obtaining funding sources for poor countries in the developing world, in order to reduce CO2 emissions and adapt to climate change.
Developing countries have achieved a great victory these days in terms of financing: the Green Climate Fund reached $10 billion, as a result of last contributions announced by ministers from Belgium and Australia.
Carbon Expert will keep you posted on with the latest news on climate change from Lima.