EUAs to tumble to €11 on coronavirus, could crash to €5 in worst case -analysts
EU carbon prices will resume their downtrend to average €11 this quarter amid an ongoing reduction in power demand and a big fall in the bloc’s 2020 GDP due to the coronavirus, analysts said Tuesday, warning that EUAs could eventually crash to as little as €5 if the crisis persists.
Read MoreANALYSIS: EU industrial, emissions demand set to plunge as coronavirus spreads
Industries across Europe are bracing for more disruption as governments struggle to contain the COVID-19 coronavirus, with initial steps already curbing demand for power and carbon units.
Read MoreEU Market: Virus-thrashed EUA prices rebound after five-day sell-off, but some see more downside ahead
EU carbon prices rebounded somewhat on Thursday following five days of huge losses, but the gains appeared short-lived as EUAs sank back and some experts predicted more coronavirus-fuelled downside to come.
Read MoreUS concerns flag major risks for UN’s CORSIA aviation scheme as sign-up deadline nears
The US has major concerns about the EU’s and China’s approaches to CORSIA, making the success of the UN’s aviation offset scheme anything but certain just months ahead of a crunch deadline.
Read MoreShell expands carbon neutral driving offer to UK with land offsets
Oil major Shell will offer British drivers the chance to offset their carbon footprint, it said on Thursday, expanding from its Dutch initiative as part of a global commitment to invest $300 million in land-based emissions-curbing initiatives.
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