The ICE exchange from London closed its CO2 operations as follows:
- EUA spot: € 5.02
- EUA Dec ’16 futures: € 5.09
- CER Dec ’16 futures: € 0.37
- Brent Crude April ’16: $ 34.37
Linkages among Regional Carbon Markets
The EU and Switzerland have announced the conclusion of a deal linking their respective emissions trading schemes, although the agreement’s signature date remains up in the air.
Set up in 2008, the Swiss scheme includes around 55 companies, and last year covered 5.5 million tonnes of carbon emissions. By comparison, the EU’s Emissions Trading System (ETS) launched in 2005 is currently the world’s largest carbon market, regulating some 11,000 power stations and manufacturing plants representing around two billion tonnes of carbon emissions.
The EU had previously agreed a pathway for linking with Australia’s fledgling carbon market, before a change in political leadership – and the subsequent repeal of Canberra’s carbon tax – scuppered these plans.
Most recently, one UK senior official speaking with Business Green indicated that London is working closely with China as it develops its cap-and-trade system, with potential future linkage with the EU ETS in mind.
A deal was also signed last December between Beijing’s sub-national carbon market and South Korea to cooperate on emissions trading development with an eye on eventual full national bilateral cooperation.
Ontario last year unveiled plans to join California and Quebec’s carbon market under the so-called Western Climate Initiative.
Source: Allcot Group, Switzerland