Euro Markets: EUAs post third gain in a row as energy markets rally on supply cuts, colder weather
European carbon allowances started the week strongly, settling at their highest in more than five weeks as energy prices advanced on the back of interruptions in gas production, forecasts for cooler temperatures, and an unplanned outage at French nuclear unit.
Read MoreUK programme launches network to integrate biodiversity in the financial system
A UK research and innovation programme has allocated £3 million to launch a network aimed at hastening the integration of biodiversity into the financial system.
Read MoreCarbon futures ETFs continue to cut EUA holdings as price decline tops 12 months
Exchange-traded funds (ETFs) that invest in the EU ETS futures market are reducing their holdings of EUAs for a third consecutive year in 2024, as investors continue to shun carbon amid a price decline that has now endured for more than 12 months.
Read MoreEuro Markets: EUAs give up sizeable gains after failing to breach key level as bears regain confidence
European carbon prices posted a modest daily and weekly gain on Friday, after firmer natural gas prices and the strongest auction in nearly two weeks triggered an unsuccessful attempt to breach a major price level, handing the initiative back to bears.
Read MoreEuro Markets: EUAs rise to week’s high amid aggressive afternoon buying after flat morning
European carbon prices rose to their highest level this week on a sustained period of buying that saw the market post the entire day’s gain in the afternoon, after stalling earlier amid a wider decline in volatility.
Read MoreRWE reports heavy emissions drop in 2023, CEO points to REPowerEU sales as creating “downward spiral” in carbon market
RWE saw emissions from electricity production fall by a large margin last year, due to a slump in ETS-covered coal and gas burn brought on by weak power demand, it said in annual results on Thursday, as the company’s CEO also pointed out that additional EUA sales introduced by Brussels were now creating a “downward spiral” for prices in the bloc’s carbon market.
Read MoreEuro Markets: EUAs resume decline after March expiry as position data shows small cut in fund shorts
European carbon prices resumed their downward trajectory on Wednesday, unwinding the remainder of their gains from last week’s rally after a brief pause on Tuesday, as weekly positions data from the main exchanges showed investment funds had reduced their net short position by less than traders had been expecting, boosting the confidence of the bears.
Read MoreUK to launch consultation on carbon and biodiversity credits
The UK government is planning to launch a consultation to explore how the nascent international biodiversity credit markets can “mutually reinforce” existing carbon credit markets.
Read MoreUK’s CCUS ambitions would lock in higher costs and emissions -report
The UK government’s plan to build up carbon capture, usage, and storage is based on outdated and unrealistic assumptions and risks locking consumers into expensive and fossil fuel-based technologies when cleaner alternatives exist, according to analysis released on Wednesday.
Read MoreEuro Markets: EUAs rally twice to post small gain ahead of options expiry, position report
EU carbon allowance prices posted their first gain in five days on Tuesday, as they twice clawed back losses after the daily auction cleared at a premium to the spot and traders later covered positions ahead of Wednesday’s options expiry and positions data, while energy markets fell again due to a persistently bearish fundamental outlook.
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