Start your week getting to know how to navigate on the Carbon Markets.🎧🌿🌍
Insights from the brilliant @DettyPapp, our Head of Market Analysis.
youtube.com/watch?v=3n2jOm….
#Carbon market poll
Analysts short-term #EUETS forecasts little changed despite major output drops, hike long-term outlooks
But they slash #UKETS forecasts in wake of tepid reform plans, underperforming post #Brexit economy
carbon-pulse.com/215065/ $ #OCTT
@Malik49977264 Market has been aware of the changes, it shouldn't therefore have a significant impact. But having the exact numbers nicely counterbalances the recent bearish news about REPowerEU allowances and lower emissions in power sector.
The European Commission defined the #EUETS cap for 2024 at 1,386,051,745 allowances, 6.70% down from 2023. The rebasing and the increased linear reduction factor explain the reduction. Without the allowances for the maritime sector, the difference would be more than 10%.
@MikeSzaboCP And let's not forget about the new last row in the table: "Allowances that became invalid on 1 January 2023" 2 515 135 787. Think market tends to forget about those.
It's the smallest reading ever for the annual supply measurement, highlighting EU's success in chipping away at a permit surplus that peaked at 2.1 bln tonnes in 2013. In fact, by end-Aug 2024 some 1.97 bln EUAs will have been removed from mkt supply, or nearly all of that glut.
2022 TNAC: 1.1348 bln, down from 1.4492 bln at end-2021.
# of EUAs to be withheld from #EUETS over the 12 months from Sep. 2023: 272.35m
That's it. That's the tweet.
#OCTT
"Despite its flaws, the VCM is still widely recognised to be one of the best tools available to incentivise the conservation, sustainable management & restoration of ecosystems on a large scale."
Read Marissa Lee's piece for @BusinessTimes ↓
businesstimes.com.sg/opinion-featur…
🤝BREAKING🤝
EP negotiators have reached a deal with @EU2022_CZ & @TimmermansEU on a reform of the Emissions Trading System #ETS & the creation of new Social Climate Fund #SCF#Fitfor55
Today is #EarthOvershootDay
Now, we’ve used up all the natural resources our 🌎 can generate in 2022
This year, it falls on the same day as #NatureConservationDay, reminding us that we need to live within the limits of what nature can give us 🌱
Time to #MoveTheDay#ForNature
Greenhouse gas levels are at new records. Again
Concentration of CO2 in 2020 was 149% of pre-industrial times
Economic slowdown from COVID-19 had no real impact
We are set for a 🌡️ increase much higher than #ParisAgreement target of 1.5°C-2°C.
bit.ly/2ZgvUk7#COP26
The #IPCC released its latest #ClimateReport today, #ClimateChange 2021: the Physical Science Basis.
“The role of human influence on the climate system is undisputed.” – Working Group I Co-Chair @valmasdel
Report ➡️ bit.ly/WGICC2021
Watch the video, 🎥 ⬇️
First #UKA auction clears at GBP £43.99/t, sending the secondary UKA market lower. Still above the secondary #EUA price though, confirming the premium of UK allowances over the #EUETS#OCTTbit.ly/3fyushq