EU-ETS Policy Update: a busy policy autumn ahead
EUA will again take direction from policy in the coming weeks and months, and we expect more volatility on Brussels-related news and announcements.
The autumn kicked off with signals the European Commission could be proposing a 2030 climate ambition target in the higher end of the 50-55% reduction announced in Green Deal. Last Friday, 11.09, the European Parliament’s environment committee has voted for a new EU-wide target to reduce carbon emissions 60% by 2030, setting the stage for tough negotiations with EU countries and the European Commission, which is expected to propose a 55% goal this week.
With regards to other policy-related drivers; while the UK’s exit from the EU-ETS is settled, the impact of a potential no-deal Brexit on the economy could spill over to EUA.
The ICE ECX exchange from London closed yesterday at 30,47 euro EUA futures with more than 7% more than Friday, 11.09.
Source: EC, Brussels and ICE ECX, London