Trackinsight: EU Carbon ETPs continue to emit gains on COP26 aftermath

12/03/2021 | 09:45am

The surge in EU Carbon Futures started with Europe's energy crisis that prompted nations to shift to oil and coal to meet demands and consequently lifted demand for Carbon Allowances.

KraneShares European Carbon Allowance ETF (KEUA), WisdomTree Carbon (CARP) and SparkChange Physical Carbon EUA ETC (CO2) gained +6.06%, +3.32% and +3.48% respectively on Thursday as Dec'21 European Carbon futures flirted with the ?80/tonne of CO2 milestone, a new all-time high.

The surge in EU Carbon Futures started with Europe's energy crisis that prompted nations to shift to oil and coal to meet demands and consequently lifted demand for Carbon Allowances. Prices were further boosted after world leaders renewed their decarbonization commitments in this year's Annual Climate Change Summit (COP26).

In the last four weeks, investors have injected over $200 million in ETFs with EU Carbon futures exposure, bringing their combined assets to over $1.8 billion. KraneShares Global Carbon ETF, with exposure to European Union Allowances (EUA), California Carbon Allowances (CCA) and the Regional Greenhouse Gas Initiative (RGGI) has the highest share with $1.4 billion AuM, followed by WisdomTree Carbon with $267 million AuM.

Carbon pricing have been a hot topic since Paris Climate Agreement with experts estimating that prices would need to rise substantially to putting the world on a faster path to net-zero emissions by 2050.

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