CORRECTION – Position adjustments ahead for top carbon ETF after tracked index rebalances
The world’s largest carbon allowance ETF is expected to adjust its holdings – currently valued at almost $1.4 billion – in the coming days after the index it tracks announced a major rebalancing with new market weightings.
Read MoreMEPs raise doubts on EU carbon border measure’s fit with global trade rules
EU lawmakers cast doubt over whether the bloc’s proposed Carbon Border Adjustment Mechanism (CBAM) is compatible with global trade rules on Monday, in a preliminary MEP exchange that raises the potential for changes to the plans.
Read MoreEuro Markets: EUAs stabilise after early rally as coal power profitability grows
EUAs rallied sharply at the start of trading on Monday, setting a new record high before stabilising, as price moves in energy markets increased the profitability of coal-fired power at the expense of gas.
Read MoreIceland’s new coalition sticks to 2040 net zero goal, ending oil exploration
Iceland’s coalition talks ended Sunday, confirming the nation’s existing climate and energy commitments, as the ruling bloc enters its second consecutive term after September’s general election.
Read MoreGreen hydrogen can cost less than €1.8/kg in EU by 2030 -von der Leyen
European Commission President Ursula von der Leyen said on Monday that the EU should aim to drive the cost of green hydrogen to below €1.8 per kilogram by 2030, hitting a price level that would secure market competitiveness for the low-carbon fuel.
Read MoreEU lawmakers seek changes to CO2 border measures that could ease impact on US emitters
The European Parliament’s cross-party trade committee is seeking changes to the EU’s proposed Carbon Border Adjustment Mechanism (CBAM) that could substantially lower costs faced by US emitters, according to a draft report published this week.
Read MoreNewly-formed German government firms up plans to shield citizens from energy transition costs
The incoming German cabinet is laying out plans to compensate its citizens for higher energy prices, in a move designed to enhance the acceptability of carbon pricing on consumer-facing sectors while safeguarding social justice.
Read MoreANALYSIS: UK likely to boost auction ETS volumes in 2022 as prices trigger CCM, but timeline, supply source unclear
The UK ETS will face its first regulatory test at the start of December as the market’s Cost Containment Mechanism (CCM) will be triggered this month, though sources are fairly divided as to if and how the government will ultimately intervene.
Read MoreEuro Markets: EUAs claw back half their early losses to post 4.9% weekly gain amid macro gloom
EUAs plunged 5.5% in a hectic opening hour of trading on Friday as markets were shaken by reports of a new Covid-19 variant emerging in South Africa. Carbon eventually clawed back half of those losses.
Read MoreEU carbon to sail into “calmer waters” in 2022, analysts predict
EU carbon will enter “calmer waters” in 2022 as permits follow gas lower, analysts said, while also raising their EUA price forecasts.
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