From S&P Global Platts, November 1:
As the COP26 climate meeting gets underway in Glasgow, Scotland, this week's Commodity Tracker focuses on energy transition trends from the energy and raw materials markets. Renewable power capacity additions are increasing swiftly, but still insufficient considering fast demand growth. Plus, rising carbon credit prices, China's steel sector emissions, New York's decarbonization goals and hydrogen's place in Russia's energy strategy.
....2. Carbon credit prices rise in 2021 with eyes on COP26 for global deal
What's happening? Carbon credit prices in the voluntary carbon market have increased significantly in 2021 as companies and governments show increasing interest as part of goals to reach net-zero emissions by 2050 or sooner. Interest in the market is high ahead of the UN Climate Change Conference in Glasgow, where governments aim to thrash out a deal on how emissions reductions will be accounted and traded.
What's next? Countries attending the COP26 summit, running Nov. 1-12, aim to nail down the terms of Article 6 under the Paris Agreement—the part of the treaty that deals with international carbon markets. Further clarity on the rules and modalities for international emissions trading could create new demand for carbon credits, boosting market liquidity and potentially driving prices higher.....
....MUCH MORE, including link to their very information dense Atlas of Energy Transition
