Cement News tagged under: carbon trading
US considering carbon pricing for imports02 July 2024, Published under Cement NewsThe US is looking to a potential carbon pricing system for goods and services imported into the country as part of a wider carbon policy. The step is a key policy shift as it looks to counter Chinese industrial competition and reduce emissions. John Podesta said the US would fight against “freeriding” by foreign producers of carbon-intensive industrial imports, in an interview with the UK Financial Times. “We’re not going to just give up our industrial base to people who are dumping carbon... |
Volatile EUA market lead by gas price moves, turning bearish on increased fear of EP election outcome28 June 2024, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark The carbon market saw a marked increase at the end of May as the gas market rose sharply in fear of Norwegian production cuts. The carbon price reached EUR78, but has since dropped as Norwegian producers have assured the market of supply. The EUA price fell sharply and in combination with the European Parliamentary elections on 9 June, as several players were afraid of being long in case the election sees a victory for the parties wanting t... |
Sharp rally in EUA sends the market back into long-term uptrend, consolidation expected27 May 2024, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark Independent carbon market news remained scarce while the market followed particularly volatile gas and power prices. Trading was erratic with actions from speculative players in a relatively thin market. The focus is still on how the European Parliament elections will play out, as EU Commission papers for the next period have downplayed the focus on green transition, compared to European security and competitiveness. While April was not the co... |
EU ETS 2023 emissions down 16% YoY amid record global emissions – prices rise to about EUR6029 April 2024, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark In 2023 EU verified emissions showed a 15.5 per cent fall from 2022, based on a 24 per cent drop in power generation emissions due to lower demand. Energy intensive industries emitted seven per cent less YoY as a result of reduced production. The aviation sector increased its emissions 10 per cent YoY as the industry recovered from the COVID-19 impact. The total number of emissions fell from 1.3bnt to 1.1bnt in line with forecasts and did not ... |
China starts public consultation on emissions accounting and verification guidelines09 April 2024, Published under Cement NewsChina is carrying out a public consultation on drafting guidelines regarding emissions accounting and verification for the country’s cement sector until 15 April 2024. This would lay the foundation for the sector’s inclusion in the national compliance carbon market, according to the Ministry of Ecology and Environment. The consultation document only provides instructions for companies how to calculate and report their emissions and for provincial governments to carry out verifications. It ... |
Carbon markets tested EUR50 before correcting 20% higher – political uncertainty in EU and US main drivers28 March 2024, Published under Cement NewsBy Frank O Brannvoll, Brannvoll ApS, Denmark The EUA December 2025 contract prices fell briefly to EUR50 levels not seen since the COVID-19 pandemic and sent shivers through many green projects that depend on relatively high carbon prices. The fear of a European Parliament that after the election would downgrade the green transition to a lower priority, in combination with the US Republican Trump stating that the US would leave the Paris agreement (again) and all subsidies from IRA could... |
WCA host 7th General Assembly in London15 March 2024, Published under Cement NewsThe World Cement Association (WCA) held its 7th General Assembly on February 27th in London at the National Liberal Club. Representatives from member organisations participated in the GA, both in-person and virtually, engaging in discussions on current activities, upcoming plans, and the election of new board members. The event concluded with a networking lunch, providing an opportunity for members to connect and exchange ideas. The agenda featured a comprehensive outlook on the global cemen... |
Carbon price collapses due to political uncertainty and speculative pressure – major support tested28 February 2024, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark Sharp falls were seen in the European carbon market, as several political factors from demonstrations and political uncertainty hit the market during January and February. This, in combination with the ongoing lower energy complex, especially gas and coal, has sent the price for the Dec 24 contract to EUR60, the lowest seen for years. Speculators have also been seen to shorten the market as large auctions to finance the Repower EU funds are be... |
Carbon sharply higher after change of contract to Cal 24, now pressured from lower energy complex24 January 2024, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark The shift in contract to December 2024 sent the price EUR10 up without any real news in the market. The overall energy complex has gone lower and as a result, the carbon price rallied up to EUR80. Several speculators went short again in the new contract. Industrial demand is still sluggish and is expected to worsen if a recession were to hit the US and Europe. EUA front-year contract, March 2022-February 2024 The COP28 did not sen... |
Carbon testing long-term uptrend support at EUR68 after breaking below EUR8027 December 2023, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark As reported in ICR’s December 2023 issue the break of EUR80 could mean a larger shift in sentiment and this was clearly proven right. Pressured by lower oil, gas and coal prices, as well as continued subdued industrial demand the December 2023 contract has fallen to the major support around EUR68. In addition, financial players have been seen switching out of long positions and going short on a larger scale than before. However, it also nee... |