Mercuria CSR Report 2020 - Flipbook - Page 31
our contribution as traders to the adoption of
carbon offsets in the transport industry, as
an inevitable tool to stay on the Paris-aligned
Greenhouse Gas (GHG) emissions reductions
target – along with efficiency and carbon capture
and storage initiatives. All of our marine bunker
customers have the ability to offset their bunker
related emissions at the time of purchase of bunker
The CO2 Price – a heterogeneous and interlinked
market regulator
fuels. The latter, GEO, is an important milestone
The price is dependent on the other en-
in the adoption of carbon offsets by the overall
ergy commodities as well as on policies
energy industry: “CME Group’s launch of the GEO
that aim to respect the Paris Agreement
futures product is a further demonstration of the
and meet climate change mitigation
evolution of voluntary carbon markets,” said Adam
Raphaely, Head of Emissions Markets at Mercuria
Energy America. “Mercuria is excited to participate
in the deployment of market-based mechanisms
to accelerate decarbonization across diverse
industries and geographies.”
goals. At the time of writing, the EU ETS
carbon price is at 37.41 EUR, whereas
the allowances were sold at 6.82 USD
in the RGGI market and at 16.68 USD in
the Cap-and-Trade market. This price is
strongly correlated to other commod-
Finally, we are also closely following the
ities such as coal and gas. Indeed in
development of the Chinese market and will
2019, when the carbon credit rose to
participate in the upcoming Chinese Emissions
Trading Scheme (ETS), building up on our strong
partners base in the country as well as our
experience from similar scheme in other regions
of the world (EU, US).
20 EUR/ton – a high price for that time
– the coal commodity price fell and the
gas commodity price went up. This had
a significant impact on the electricity
generation overall carbon footprint,
which decreased by 100 million tons.
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