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Reference Index EUA · CER · VCS

€0.00

▲ +1.42 (+1.71%)

tanso Composite Carbon Index — weighted basket of compliance and voluntary carbon instruments across 14 venues.

Day Range 82.61 — 84.92
52w Range 61.04 — 96.18
Volume 12.84M tCO₂
Open Interest 214.6M tCO₂
Benchmarks Live
  • EUA Dec-26 €86.14 +0.92%
  • CCA V26 $38.62 +0.41%
  • RGGI Cur. $22.18 -0.18%
  • VCS Spot $12.04 +2.06%
  • CORSIA Eligible $9.71 Watch
Compliance Tracker Q1 2026
Surrender 84%
Verification 61%
Retirement 42%

Aggregated across 318 institutional obligors. Settlement occurs T+2 against the tanso clearing window.

Aggregate Holdings Net long · 14 venues

0.0M tCO₂

Carbon notional under custody across compliance, voluntary, and structured tranches.

Compliance (EUA) 46%
Compliance (CCA / RGGI) 22%
Voluntary (VCS / GS) 19%
Removal-tagged 9%
Structured / Forward 4%
Vintage Mix Voluntary book
  • 20182.1%
  • 20194.6%
  • 20207.2%
  • 202112.8%
  • 202218.4%
  • 202324.9%
  • 202429.0%
Risk Posture VaR 95 / 1d
€4.18M -€1.02M vs prior session
  • Delta · price0.62
  • Gamma · convexity0.04
  • Vega · vol exposure0.18
  • Counterparty exposureA+ avg.

Risk metrics computed against tanso's calibrated 14-factor model. Refer to the Methodological Note for assumptions.

Quarterly Thesis Q2 2026

Structural tightness in EU ETS persists through Phase IV recalibration

The Market Stability Reserve continues to absorb surplus allowances at a measured cadence, and front-loaded Phase IV cap reductions are pulling forward the abatement curve. tanso's central scenario places the EUA composite in a €88–€102 range over the next four quarters, with downside risk anchored to industrial demand softness in chemicals and steel.

In the voluntary segment, post-COP integrity reforms are bifurcating supply: Article 6.4-aligned removal credits trade at a widening premium to legacy avoidance instruments. We expect this dispersion to deepen as corporate disclosure regimes mature.

— tanso Carbon Strategy · Frankfurt

Briefing Notes Updated daily
  • EU ETS Auction calendar shifts Q3 cadence to bi-weekly 14:08 UTC
  • CDR Engineered removal cohort closes second tranche 11:42 UTC
  • CORSIA ICAO eligibility expands to include three new methodologies 09:30 UTC
  • Voluntary Ratings agency tightens additionality criteria for forestry projects 08:14 UTC
EUA Forward Curve Settle
  • Spot
  • '26
  • '27
  • '28
  • '29
  • '30
  • '31
Mandate For institutional clients

Carbon as an institutional asset class

tanso operates a regulated cross-venue execution and custody platform purpose-built for sovereign funds, pension trustees, and corporate treasuries. Our infrastructure clears against ECC, ICE Clear Europe, and CDP-aligned voluntary registries under a unified collateral framework.

  • Coverage14 venues · 32 instruments
  • ClearingECC · ICE · OTC bilateral
  • CustodySegregated registry accounts
  • ReportingEMIR · MiFIR · ISSB-aligned
Diligence Framework Voluntary instruments
  1. 01Methodology screening against ICVCM Core Carbon Principles
  2. 02Independent verification body review and reconciliation
  3. 03Project-level additionality and permanence analysis
  4. 04Continuous post-issuance monitoring and corresponding adjustments
Contact Coverage desks
  • Frankfurt EU ETS & structured
  • Singapore APAC compliance & voluntary
  • New York North American venues
  • Geneva Sovereign & treasury coverage

Reachable via institutional credentialed channels only. tanso AG is authorised by the relevant competent authorities; please refer to the regulatory disclosures.