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COVID-19 as a test for the market stability reserve
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FSR; Blogpost; 2020; [RSCAS]
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GALDI, Giulio, COVID-19 as a test for the market stability reserve, FSR, Blogpost, 2020, [RSCAS] - https://hdl.handle.net/1814/66960
Abstract
In the last post on this blog, Simone Borghesi discussed the consequences of the COVID19 crisis, beyond the immediate reduction in worldwide pollution. Among them, he hinted at the challenge now facing all Emissions Trading Systems (ETSs). As production fell dramatically in the last weeks, allowances prices fell accordingly. In those carbon markets where price floors for allowances exist, they were hit. For the EU ETS, no floor is in place and the price of European Union Allowances (EUAs) went as low as the market forces drove them, after what seemed a rather solid positive trend.
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Published on 5 May 2020