The ICE exchange from London closed up its CO2 operations. In fact, the carbon price did not follow the trend of other related markets.
- EUA spot: € 8.15
- EUA Dec 15 futures: € 8.20
- CER Dec 15 futures closed: € 0.47
- Brent Crude spot: $ 49.49
- German Power Front Month (September 15): € 32.91
Climate Change Agreements
Representatives of the 193 UN member states agreed on 17 very ambitious targets for equitable and sustainable development, which will be adopted of the heads of governments at a summit in New York at the end of September. Among other things, the UN agreement provides that the countries of the world will eliminate by 2030 “poverty anywhere in the world and in any of its forms” and hunger. Moreover, access to health care and education should be improved and the gender equality should make progress. The program also calls for “sustainable modes of production and consumption”, and promoting “peaceful and open for all companies.”
One of the 17 objectives is the fight against climate change. In this context the importance of the negotiations on a binding international agreement on climate change has been highlighted again, which should be performed in December at the UN Climate Change Conference in Paris to a successful conclusion. In contrast to the other 16 points the implementation of the agreement in Paris would mean a binding contract. All other points are voluntary and their implementation is expected to be a major effort not only for financial reasons.
Positive sounds the news from last week that a number of well-known US companies decided for voluntary investments totaling more than $ 140 billion on the initiative of the American president. At the same time, US President Barack Obama announced significant measures to combat the greenhouse effect. As a central point of the proposed rules, existing power plants must for the first time reduce their emissions – until 2030 by 32 percent compared to 2005.