HomeCarbon CreditsEU Carbon Futures Hits an All-Time High

EU Carbon Futures Hits an All-Time High

EU carbon futures have shot up to above €59/mt, the highest price so far in the history of the future. EU carbon futures have been slowly approaching the €59/mt mark since early July, however, have not broken through. But futures shot up today due to the current strength of the energy sector.

Additionally, supply has been cut drastically from government auctions in primary supplies. As well, beginning August 30, only three auctions will occur due to holidays and closures, meaning a reduced supply.

The EU ETS has been slowly growing since the beginning of the year when it started at around €33/mt. It hit €40 in February and then €50 in May. Now it approaches the €60 mark, almost double what the futures started the year at.

The UKA prices continue to stay flat. The UK has yet to unveil its major plans towards carbon emissions. The KRBN ETF continues to rise as it rose just under 5% today. The carbon market has shown its strength this year. As more countries begin to roll out further carbon restrictions, we may see a shift in carbon ETF’s and futures. The race against climate change is heating up. Urgent action is required and that may include higher carbon prices.

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