Commodities Chart Pack Commodities Chart Pack (June 2025) OPEC+’s announcement that it will continue to add oil to the market in July at a pace faster than they had planned a few months prior solidified a marked shift in the group’s output policy. This will... 4th June 2025 · 1 min read
Climate Economics Monthly Climate Monthly: RIP IRA?; US solar stocks sink; EU-UK ETS linkage President Trump’s “big, beautiful bill” that would significantly restrict access to tax credits provided under the Inflation Reduction Act (IRA) is one step closer to becoming reality, which adds to... 30th May 2025 · 5 mins read
Climate Economics Update EU carbon market surplus keeps prices in check The surplus in the EU carbon market dampened incentives to decarbonise in 2024, and the likelihood that the surplus is maintained until 2027 will keep a lid on carbon prices in the near term. Further... 29th May 2025 · 3 mins read
Climate Economics Update EU faces “difficult second album” syndrome with ETS2 By seeking to extend the “polluter pays” principle to building owners and road users, the ‘sequel’ to the EU’s Emissions Trading Scheme was always likely to run into public and political opposition... 19th May 2025 · 4 mins read
Climate Economics Update Major tests for IMF climate deals in Egypt and Pakistan The IMF’s Resilience and Sustainability Facilities with Egypt and Pakistan will incentivise policymakers to implement climate adaptation and mitigation policies. That said, both countries still need... 14th April 2025 · 3 mins read
Climate Economics Monthly Climate Monthly: Climate policy falls down the agenda The recent scrapping of the carbon tax in Canada shows that the political pushback against climate policy is certainly not just confined to the United States. But to paraphrase Mark Twain, rumours of... 31st March 2025 · 5 mins read
Commodities Outlook Tariff uncertainty overshadows fundamental weakness While tariffs and geopolitics complicate the near-term outlook for many commodities, the backdrop generally remains one of weak fundamentals; our end-2026 price forecasts for energy and industrial... 24th March 2025 · 23 mins read
Climate Economics Monthly Climate Monthly: Risks to EU carbon policy; China reforms renewables The EU’s climate policy announcements this week point to a shift in tone that suggests a lower willingness to impose costs on private firms. That poses a growing risk to the future of the bloc’s... 28th February 2025 · 4 mins read
Climate Economics Update Is the EU backsliding on climate policy? The EU’s Clean Industrial Deal and Omnibus packages mark a shift in climate policy as pushback against the costs of climate action grows. With the EU less willing to impose costs on the private sector... 27th February 2025 · 4 mins read
Climate Economics Monthly Climate Monthly: Politics take centre stage on both sides of the Atlantic Political opposition to the EU’s stringent climate policy has been growing, particularly given the backdrop of the bloc’s struggling industrial sector. The pressure on politicians to dilute Europe’s... 30th January 2025 · 5 mins read
Climate Economics Update Looming supply crunch supports EU carbon prices Although European natural gas prices will still influence EU carbon prices in the near-term, investors’ recent optimism suggests that expectations for a tighter carbon market down the line are... 28th January 2025 · 4 mins read
Commodities Outlook Weak market fundamentals; geopolitics the wildcard Most energy and industrial metals prices will fall in 2025 as structural headwinds to demand build and supply rises. Geopolitical developments remain a key uncertainty and it is easy to think of... 13th December 2024 · 23 mins read
Climate Economics Update One US deficit that won’t worry Trump President-elect Trump’s distaste for trade deficits surely does not extend to worrying about the US’s large-scale import of carbon emissions through trade flows. The global imbalance between importers... 14th November 2024 · 3 mins read
Climate Economics Update Trump-shaped shadow looms large over COP29 COP29 – which is set to kick off in Baku next week – has been dubbed the ‘finance COP’ given that the top priority for negotiators will be to agree on a new climate finance pledge. However, Trump’s... 7th November 2024 · 3 mins read
Canada Economics Focus What comes after the carbon tax is axed? New Prime Minister Mark Carney’s decision to effectively eliminate Canada’s consumer-facing carbon tax will shave around 0.7% from headline CPI for the next year, which could offset some of the... 28th October 2024 · 14 mins read
Climate Economics Update Notes from LSE Environment Week Ahead of COP29 in November, discussions have been taking place at events in London and New York this week on all things climate. We attended the LSE’s Environment Week to hear the thoughts of... 26th September 2024 · 3 mins read
