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Alok Sharma has been appointed the UK minister in charge of the UN COP26 summit in Glasgow, after being been promoted to UK business secretary by the Prime Minister.

The UK government's launch of the UN Climate Summit, to be hosted in Glasgow in November, was overshadowed by its dismissal of the president of the negotiations, who hit back with a letter warning the process is "miles off track".

Last week witnessed a huge bounce for carbon, as EU allowances (EUAs) closed the week up nearly 18%.

The planned launch of an African renewables yieldco has been boosted with R1 billion ($72.8 million) in cornerstone investment from Investec and a UK-based public-private-partnership.

A bearish outlook is justified this week after last week's sharp decline in EU Allowance prices, and volatility is likely to remain high, says Louis Redshaw.

Further volatility in the price of EU Allowances (EUAs) is to be expected for the rest of the year, says Louis Redshaw

Louis Redshaw reflects on a week of extreme volatility for EU allowances

EU Allowance prices are likely to continue to struggle this week, amid high volatility, says Louis Redshaw. However, the underlying uptrend remains strong, despite negative fundamental factors.