Issue CXCVII

Carbon Newsletter

DBLM Solutions
13 July 2015

The EUA Dec14 contract is currently at 8.20.

The carbon price continues to rise unabetted by
Brent Crude.
Weekly
Recap

ICE
EUA
Spot

ICE CER
Spot

ICE
EUA
Dec15

ICE CER
Dec15

06/08/2015

7.84

0.46

7.85

0.45

07/08/2015

7.76

0.48

7.80

0.47

10/08/2015

7.90

0.48

7.94

0.49

11/08/2015

7.95

0.48

8.12

0.47

Nations have pledged to cut 30% of GHG

emissions by 2030. There is room for improvement
with the US only pledging until 2025, leaving
scope for more stringent US cuts from 2025-2030.
The US are responsible for 50% of emissions from
the nations listed below.
However, the scientific community have stated in
order to keep the climate temperature rise to within
2 degrees Celsius, emissions need to be halved by
2030, using 2010 as the baseline. Below are the
developed Nations pledges:

12/08/2015
Volumes lots
Week %

The EUA/CER spread narrowed this week to

7.36, at close of business last night versus the
7.58 spread we witnessed last week and 7.43 the
week before.

Auctions
EEX held auctions last Thursday, Friday, Monday,
Tuesday. Auction prices were 7.83, 7.79, 7.78,
& 7.95 respectively. The cover ratios for the
above auctions were 4.14, 1.81, 3.84 & 3.52
respectively. (Cover ratio = no. of bids divided by
auctioned allowances.

Paris Pledges
On Tuesday, Australia became the last big
developed Nation to publicise their emission
mitigation target for 2030. On average developed

Note that the different Nations have given different

baseline years to complicate matters. Current
pledges by developed nations will cut emissions to
9.0 billion tonnes, a fall of 26 percent from 12.2
billion in 2010.

EUETS
On 15th July the European Commission released its
proposals to revise the EU ETS in Phase 4 from
2020 see http://europa.eu/rapid/press-release_IP15-5358_en.htm for the full proposal including a
fact sheet outlining the key changes.

The contents of the Newsletter is not a recommendation, either implicit or explicit, to buy or sell emission permits.
Contact: David Boles, Compliance Markets -Direct: +3531 4433 584; Mob: +353 831747707
DBLM Solutions is partly funded by the Wicklow Enterprise Board.