Intercontinental Exchange, Inc. announced on November 27, 2024, that Worldscale Association Ltd, a leading provider of tanker freight rate references, has adopted ICE's European Carbon Allowance (EUA) futures settlement price.
This adoption means ICE's EUA futures settlement price will serve as the benchmark carbon price for calculating tanker freight rates in 2025. ICE's EUA futures and options market is recognized as the most liquid carbon market globally.
This decision enhances ICE's influence in environmental markets and validates its carbon pricing mechanisms. It also provides a transparent carbon price to be factored into maritime freight rates, aligning with the EU's Emission Trading System expansion to the maritime sector.
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