The price of the carbon certificate on the ICE ECX exchange in London opened the EUA trading sessions on Thursday at 38.18 euro/tCO2, according to Carbonexpert.

The EUA price continued to rise since the first day of this week, when it reached the record since the establishment of the EU ETS Emissions Trading Scheme, with a price of 40.60 euro/tCO2. The EUA certificate rose to more than 40 euro on Monday and Tuesday, after market players blocked the European Commission’s chances of limiting speculative transactions, at least in the near future. However, the trend in the first days of the week is declining as a result of favorable weather forecasts in Europe.

Despite the G20 agreement to eliminate fossil fuel subsidies in 2009, the United States, China and Russia allocated USD 909 billion to them in 2017, about 40% more than in 2009. A global gasoline price study conducted between 2003 and 2015, published by the Center for Global Development, showed that net subsidies for fossil fuels increased by 5% each year.