Log in
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 

MarketScreener Homepage  >  Indexes  >  Xetra  >  DAX    DAX   DE0008469008

Indicative prices Citigroup


After market
12479.86 PTS
Delayed Quote. Delayed Xetra - 10/14 11:45:00 am
12486.56 PTS   -0.20%
11:41aEUROPE MARKETS: European Stocks Slink Back On Warier View Of U.S.-China, Brexit Talks
11:04aWeekly market update : Back in the game
10/11EUROPE MARKETS: Hopes For Trade Pact Buoy European Stocks As Publicis And Hugo Boss Hit By Warnings
News SummaryAll newsNews of the components ofMarketScreener Strategies

German carbon pricing plan may cost DAX companies billions

share with twitter share with LinkedIn share with facebook
share via e-mail
09/18/2019 | 12:21pm EDT
Power-generating windmill turbines are pictured at the 'Amrumbank West' offshore windpark in the northern sea near the island of Amrum

FRANKFURT (Reuters) - Germany's blue-chip companies could face billions of euros in costs to cut carbon emissions under a climate protection plan due to be unveiled by the government on Friday, according to a study by asset manager Union Investment.

"According to our research, almost every one of the (30) DAX companies will be facing big challenges, even under low CO2 price scenarios," said Henrik Pontzen, head of environmental, social and corporate governance at Frankfurt-based Union Investment's portfolio management business.

Germany, which is responsible for just over 2% of the world's greenhouse gases emissions, mainly aims to cap carbon emissions from buildings and transport.

Its utility sector has already made substantial reductions, forced by mandatory carbon permit trading (EU-ETS) in Europe that incentivises carbon efficiency.

But the country is on still track to miss targets to cut greenhouse gases emissions, of which CO2 is the main one, by 55% in 2030 from 1990 levels, having achieved less than 30% so far.

Union Investment said that putting a carbon price on areas not captured by the ETS could cost the DAX group of companies 5.2 billion euros ($5.7 billion) a year, an estimate it based on a price of 30 euros a tonne of CO2 equivalent.

This sum would be equivalent to 3.7% of the cumulative operating profit of the combined DAX group in 2018, it said.

It said possibly heavily affected companies included chemicals firms BASF, Covestro and Linde; steelmaker ThyssenKrupp; automotive companies BMW, Continental, Daimler, and Volkswagen; and building materials firm HeidelbergCement.

Berlin appears likely to set up a separate CO2 trading system for lagging sectors before integrating them into the ETS, while there are also proposals to impose CO2 taxes on them.

The C02 contract for December expiry on the ETS, which covers half of all polluting industries in the EU, is currently trading at 25.5 euros a tonne.

Pontzen said financial services and telecoms companies such as Allianz and Deutsche Boerse would be able to react quickly because they could replace their electricity needs with purely renewable energy-derived power.

"It will be decisive in the medium and long run, how fast companies can adjust their energy supply, modify business models and to what degree they can pass on additional costs to consumers," he said.

(Reporting by Vera Eckert, Editing by Mark Potter)

Stocks mentioned in the article
ChangeLast1st jan.
ALLIANZ SE -1.13% 210.7 Delayed Quote.21.67%
BASF SE -0.42% 64.59 Delayed Quote.7.38%
BMW AG 0.20% 64.91 Delayed Quote.-8.37%
CONTINENTAL AG 0.40% 115.78 Delayed Quote.-4.50%
COVESTRO AG -0.77% 45.1 Delayed Quote.5.26%
DAIMLER AG 0.01% 47.065 Delayed Quote.2.50%
DAX -0.20% 12486.56 Delayed Quote.18.49%
DEUTSCHE BÖRSE AG 1.37% 143.85 Delayed Quote.35.21%
HEIDELBERGCEMENT AG 0.41% 63.58 Delayed Quote.18.62%
THYSSENKRUPP AG -0.36% 12.56 Delayed Quote.-15.85%
VOLKSWAGEN AG 0.21% 161.84 Delayed Quote.16.25%
share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on DAX
11:41aEUROPE MARKETS: European Stocks Slink Back On Warier View Of U.S.-China, Brex..
11:04aWeekly market update : Back in the game
10/11EUROPE MARKETS: Hopes For Trade Pact Buoy European Stocks As Publicis And Hug..
10/10EUROPE : European shares rise on Brexit, trade deal hopes; LVMH shines
10/10EUROPE MARKETS: U.S.-China Trade Talks Ice Movement In European Stocks
10/09EUROPE MARKETS: European Stocks Bounce Back As Investors Watch U.S.-China Tra..
10/08Wirecard raises long-term growth targets; analysts unconvinced
10/08EUROPE MARKETS: European Stocks End Lower On China Worries, LSE Stumbles
10/08EUROPE : European stocks drop on trade, Brexit anxiety; Qiagen tumbles 21%
10/08WALL STREET STOCK EXCHANGE : Stocks Slide After U.S. Expands Export Blacklist
More news
News of the components of DAX
03:19pMERCK : Drugmaker to Test Machine Learning to Prevent Drug Shortages
12:41pSAP : Names Former Juvo Executive as Head of Product for SAP SuccessFactors
12:41pSAP : Welcome to the Age of Human Experience Management
12:36pDEUTSCHE BANK : publishes prior periods´ pro-forma results based on new business..
11:36aDAIMLER : G-Class special exhibition launches with weekend programme
11:16aKICK-OFF FOR SEASON 6 : BMW i Andretti Motorsport present the BMW iFE.20 and its..
09:36aSAP : SuccessFactors Solutions Named 2019 Customers' Choice for Corporate Learni..
More news
Chart DAX
Duration : Period :
DAX Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends DAX
Short TermMid-TermLong Term
Top / Flop DAX
DEUTSCHE BÖRSE AG 144.7 Real-time Quote.1.97%
RWE AG 27.24 Real-time Quote.0.93%
HENKEL AG & CO. KGAA 93.83 Real-time Quote.0.81%
DEUTSCHE BANK AG 6.85 Real-time Quote.0.78%
SAP AG 114.46 Real-time Quote.-1.05%
ALLIANZ SE 210.625 Real-time Quote.-1.16%
WIRECARD AG 140.175 Real-time Quote.-1.32%
INFINEON TECHNOLOGIES AG 16.653 Real-time Quote.-1.33%
LINDE PLC 174.875 Real-time Quote.-1.51%
Heatmap :