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“If you are in a poker game and after 20 minutes you don’t know who the patsy is, then you’re the patsy.” - Warren Buffett Navigating carbon markets revolves around understanding how the most important participants in the market play the game. In the EU ETS and other
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The EU carbon price needs a cold winter and renewed political support to stop prices falling below a critical level
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“The answer to the global climate crisis is carbon pricing.” - Kurt Vandenberghe, the European Commission’s Directorate-General for Environment (DG ENV) Carbon pricing plays a number of roles including internalising the cost of negative externalities resulting from greenhouse gas (GHG) emissions and putting a price on the remaining carbon
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Hydrogen's latest hype cycle still suffers from overinflated expectations
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Almost twelve months to the day since I published this article, the price of UK emission allowances (UKA’s) has fallen by over 50% to a mere €35 per tonne. The malaise is even more striking when you consider that just across the English Channel, the EU carbon market continues
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Many companies publish emissions data on a voluntary basis, but with no consistent methodology it can be difficult to know whether an individual firm is performing well or not. Mandatory disclosure requirements increase the degree of transparency, cutting the considerable search costs involved with analysing one company’s emissions against
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The poor state of French nuclear generation was one of the most important stories in European energy markets during 2022. In the aftermath of the Russian invasion of Ukraine, when Europe’s supplies of natural gas were curtailed and longer term supplies were under increasing threat, what the continent really
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The case for controlled burning carbon credits
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Conventional approaches to pricing carbon fail to capture risk of climate catastrophe
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*** I’m taking a break from carbon markets next week. I will be back at my desk in early September *** Over the next few years, one of the main drivers of EU carbon prices will be passed from utilities to industrials. First gradually, then suddenly. Hedging demand by utilities is
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We typically think of an individual company’s greenhouse gas (GHG) emissions being pigeonholed into one of three categories, or scopes as they are known. Scope 1 covers direct emissions from a company’s own operations. Scope 2 covers indirect emissions resulting from the generation of energy that a company