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David Boles 01 4433584 (Direct) dblmdavid (SKYPE) david@dblmsolutions.com

DBLM Solutions Carbon Update

Carbon Overview

David Boles 01 4433584 (Direct) dblmdavid (SKYPE) david@dblmsolutions.com

At time of writing the Dec '13 EUA Contract was at 4.49. Carbon has not jumped as much as some may have predicted on the back of Wednesday's successful backloading vote, but is holdindgat just above pre vote levels. The bill will now be discussed between the European Parliament , the Commission and the council of ministers. However, it is still unclear if enough support is present for it to be passed into law. Once a compromise is reached it will head back to Parliament for a final reading where another close vote is probably inevitable. This is likely to happen in October or November. The single Union registry opened this morning at 8:00am CET, earlier than expected, on completion of the Phase 2 to Phase 3 banking process. Russia, who have lagged behind other leading GHG emitters have hinted that they too will introduce a cap and trade carbon market, so as not to be left behind in the race toward a low carbon economy. For the first time , as part of a general discussion on competitveness, government officials and experts gathered to discuss the carbon question after pulling out of Kyoto during 2012. This is the first action taken by Russia since the draft decree on Russias 2020 emissions reduction goal of 25% published a year ago.
Dec 13 EUA

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draft decree on Russias 2020