Carbon Markets Daily March 14, 2023

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Carbon Markets Daily

March 14 , 2023
Market Commentary and Rationale
Platts Global Carbon Daily Commentary
• Platts CEC , Platts CNC stable on day amid lack of activity
• Prices all over the map for REDD + credits
• Renewable energy credits continue to struggle
A bearish trend continued to weigh on market sentiment as low demand was seen across the segments of the voluntary carbon markets .
Lack of activity was also seen on the exchanges , with few trades seen in the last few days .
Platts CNC , which reflects nature-based credits with a maximum volume of 20,000 mt including standardized contract such as CBL ’ s N-GEO , was assessed stable on the day at $ 2.40 / mtCO2e .
Platts CEC – which reflects CORSIA eligible credits with a maximum volume of 20,000 mt including standardized contracts such as CBL ’ s GEO and ACX ’ s CET – was stable on day at $ 2.50 / mtCO2e .
Platts CEC has been stable for the last nine days . It was assessed at $ 2.55 / mtCO2e on March 1 and it has remained stable ever since .
Nature-based credits Market sources struggled with visibility on spreads amid continued low market liquidity and widening spreads .
“ The market is still very quiet , vintage 2016 of VCS-CCB REDD + projects is being offered between $ 3.50 / mtCO2e to $ 6.00 / mtCO2e . Pick your guess ,” a Europe-based trader said .
Fair value for the 2016 VCS-CCB vintage year would be at around $ 4.00 / mtCO2e , the same source said , when looking at large volumes .
A broker shared an indicative premium for the 2018 vintage year towards the 2016 vintage year at $ 4.50 / mtCO2e .
In the afforestation and deforestation segment of the market , a batch of ACR certified credits sourced from the US and with a 2013 vintage were heard offered at $ 9.50 / mtCO2e ( 70,000 mt ).
Cookstoves credits Platts heard some offers for a bunch of GS certified credits from different countries in Africa . Some 100,000 mt each of ID 5642 and ID 10790 Cookstoves credits with a 2021 vintage were heard offered at $ 8.30 / mtCO2e from Kenya and Somalia .
Some 100,000 mt of ID 5642 and ID 10790 credits with 2022 vintage were heard offered at $ 9.50 / mtCO2e each , indicating a
Platts stand-alone carbon credit assessments ($/ mtCO2e )
Symbol
Price
Change
Platts CEC
PCECA00
2.50
0.00
Platts CNC
CNCAD00
2.40
0.00
Platts Renewable Energy 2022
CNRED00
2.55
0.00
Platts Renewable Energy 2023
CNRED10
2.75
0.00
Platts Methane Collection 2022
AMECA00
3.70
0.00
Platts Methane Collection 2023
AMECB00
3.80
0.00
Platts avoidance-based credits ($/ mtCO2e )
Symbol
Price
Change
Platts CAC 2022
ACACA00
3.10
0.00
Platts CAC 2023
ACACB00
3.20
0.00
Platts Household Devices 2022
CNHDD00
6.35
+ 0.10
Platts Household Devices 2023
AHDVA00
6.30
+ 0.10
HHD Energy Efficiency Diff
AHHDB00
-2.00
0.00
HHD LDC Diff
AHHDA00
2.00
0.00
Platts Industrial Pollutants 2022
APOLA00
3.10
0.00
Platts Industrial Pollutants 2023
APOLB00
3.20
0.00
Platts Nature-Based Avoidance 2022
ANBAA00
7.95
0.00
Platts Nature-Based Avoidance 2023
ANBAB00
8.15
0.00
Platts removals-based credits ($/ mtCO2e )
Symbol
Price
Change
Platts CRC 2022
ACRCA00
12.50
0.00
Platts CRC 2023
ACRCB00
12.80
0.00
Platts Natural Carbon Capture 2022
ANCCA00
12.50
0.00
Platts Natural Carbon Capture 2023
ANCCB00
12.80
0.00
Platts Tech Carbon Capture 2022
ATCCA00
127.00
0.00
Platts Tech Carbon Capture 2023
ATCCB00
137.00
0.00
Platts low carbon assessments
Symbol
Price
Chage
MPC Platts 0.10 % Threshold ($/ MPC )
AMPCA00
0.015
0.000
MPC Platts 0.10 % Threshold ($/ mtCO2e )
AMPCB00
2.472
0.000
Platts-Viridios carbon credit indices ($/ mtCO2e )
Symbol
Price
Change
Household Devices CARBEX
CBXAA00
11.54
-0.14
Soil CARBEX
CBXAB00
21.88
-0.25
Eco Create CARBEX
CBXAC00
14.80
-0.17
Eco Create CARBEX Biodiverse
CBXAD00
16.56
-0.19
Eco Protect CARBEX
CBXAE00
14.54
-0.18
Eco Protect CARBEX Social
CBXAF00
17.39
-0.21
Blue Carbon CARBEX
CBXAG00
26.25
-0.33
Xpansiv carbon credit spot settlements ($/ mtCO2e )
Symbol
Price
Change
GEO Spot Settlement
GEOCC00
2.40
0.00
N-GEO Spot Settlement
NEOCC00
2.35
-0.05
GEO / N-GEO Spot Settlement Spread
GNEOC00
-0.05
-0.05
SD-GEO Settlement
ASDGA00
6.55
+ 0.05
N-GEO Trailing Spot Settlement
NEOCT00
2.35
-0.05
C-GEO Trailing Spot Settlement
CEOCC00
0.74
0.00
C-GEO Spot Settlement
CEECC00
0.97
0.00
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