This seminar will be conducted through Zoom. Please register to join this seminar. You will then receive an email with the dial in details. Please check your spam/junk folders.
The meeting is set up so that you will join muted and without video. You will be held in a virtual waiting room until the speaker is ready to start. There will be time at the end for a Q&A session. Please use the 'raise your hand' function and the presenter will unmute you. A video on how to do this is here.
With the speakers permission, we will be recording the presentation portion of this talk. The Q&A will not be recorded and any Chat will not be saved. We will make these talks available upon request via a password protected/time sensitive link. To request a copy of the recording please email firstname.lastname@example.org.
The EU Emission Trading System has been one of the central pieces of climate legislation for the European Union countries since 2005. Over these 15 years, the price of an EU ETS Allowance (EUA) has fluctuated greatly, dropping to very low levels for many years before rallying to new heights in recent months. In this paper, using various Indicator Saturation methods, we explore to which degree the EUA price was driven by financial market speculation or by underlying market forces, such as fossil fuel prices. Using recently developed methods, we are able to quantify how these price dynamics have changed over time, which further allows us to analyse how announcements of policy changes have changed the price expectations in the market.
This is joint work with Ryan Rafaty and Susana Campos-Martins