Euro Markets: EUAs snap 7-week winning streak as spectre of US-China trade war revives
European carbon prices ended a seven-week run of weekly gains as the threat of a renewed trade dispute between the US and China led to an afternoon sell-off across commodity and financial markets, after carbon prices had advanced in the first half of the day and looked poised to record yet another weekly advance.
Read MoreEuro Markets: EUAs fall 1.5% after early excitement around halted US tariffs, TNAC figure
Benchmark EUA futures fell 1.5% on Thursday, retreating from a one-week high earlier in the day fuelled by excitement about the latest TNAC figure and news that President Donald Trump’s wide-reaching tariffs have been blocked by a US court.
Read MoreIreland to miss 2030 climate goals despite planned emission cuts -EPA
Ireland is on course to fall significantly short of its 2030 greenhouse gas reduction targets, even under the government’s most optimistic policy scenario, the country’s Environmental Protection Agency (EPA) said in a report published this week.
Read MoreEU’s Market Stability Reserve to withdraw another 275.5 mln allowances from ETS starting Sep. 2025
A further 275.5 million carbon allowances will be withdrawn from the EU ETS over the 12 months starting this September and inserted into the Market Stability Reserve (MSR), the European Commission announced late Wednesday in its annual ‘TNAC’ update.
Read MoreEuro Markets: EUAs make slim gains after funds extend net long positions
Benchmark European carbon prices were forced to settle for a small gain on Wednesday as the market initially reacted strongly to funds marginally extending their collective net long position, with strength also fed in from a supportive auction result, before prices eased over the afternoon, while UKAs slipped lower after investors cut their previous-record bullish positioning.
Read MoreLatest EU carbon removal certification work sets “considerably lower” standard than PACM, say experts
Revised methodologies under the EU Carbon Removals and Carbon Farming (CRCF) framework still lack integrity, market experts said on Wednesday, arguing that those being developed under the Article 6 Paris Agreement Crediting Mechanism (PACM) look likely to be better.
Read MoreEuro Markets: EUAs slump back as market awaits key investor, TNAC data
Benchmark European carbon prices fell on Tuesday, moving as much as 3% lower in a late sell-off, as sources noted a likely correction lower following Monday gains linked to a delay of US tariffs on the EU, with participants also hesitant to take on too much risk ahead of Wednesday’s publication of funds’ positioning data and the European Commission’s release of the 2024 Total Number of Allowances in Circulation (TNAC).
Read MoreEU must widen CBAM scope for it to be effective, says think tank
To ensure it works effectively, the EU’s Carbon Border Adjustment Mechanism (CBAM) needs to be extended to other sectors such as chemicals, as well as across the supply chain of the goods that are currently in the scheme, according to a non-profit think tank.
Read MoreEuro Markets: EUAs rebound for 2% gain as US tariff headlines continue to dictate market
European carbon prices on Monday reclaimed all their losses from the end of last week after the US announced over the weekend it would postpone proposed tariffs on the EU for another month, while energy markets, as well as a tight auction schedule, also fed in support with analysts generally expecting a bullish week.
Read MoreSoutheast European CCUS deployment could cut industrial emissions 25% by 2050 -report
Deploying carbon capture, utilisation, and storage (CCUS) across key industrial sectors in Bulgaria, Croatia, Greece, and Romania could reduce the region’s industrial CO2 emissions by up to 25% by mid-century, according to new analysis by Dutch-based researchers.
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