|Carry-over Surplus Kyoto
Emissions has Climate Finance Value, does not hurt climate targets
The best way to reduce Greenhouse
Gases is when countries have binding emissions caps and their emissions remain under that
What then to do with the remaining emissions
budgets, when countries stay below their cap? This question was at the table of the
Durban Climate Summit, as the Kyoto First Commitment Period comes to an end December 2012.
Durban decided to asses the implications of carrying-over AAUs in May and to take a
decision at the next Climate Summit, December 2012 in Qatar [Jan 2012 see full document further here]
CO2 price in 2012 [Jan 3 2012]
The CO2 Price peaked in April after the German decision to
phase out nukes; it decreased after June when the European Commissions proposed a
mandatoty target for energy efficiency improvement. The price jumped with increasing gas
and power prices in August. It then jumped after the EP Environment Committee adopted a
proposal to set-aside 1,4 bln emission allowances.
The stock exchange value AEX decreased
since Jan 2008 30%. The CO2 price decreased with 70% compared to Jan 2008 because of
so-called knock-on effects following the economic crisis. A technical set aside [reserve
from auctioning] of 1 bln eu allowances seems appropriate.