European Union Emissions Trading Scheme
Latest news
- November 2008: UK Government holds the first UK auction in the EU ETS, successfully distributing approximately four million allowances.
- November 2008: Changes to UKETS Rules to provide for adjustments regarding double trading in EU ETS and UKETS (PDF 30 KB)
- October 2008: The EU ETS registry systems are now fully connected to the Kyoto emissions trading system. Accounts in the UK national registry can now hold, transfer and surrender EUAs and Kyoto units in accordance with EU ETS and international trading rules. CERs previously held in temporary accounts in the CDM registry have now been forwarded to the appropriate accounts. For further information on the types of units now available, please see the “Guide to Allowances and Kyoto Units” on the Environment Agency website.
- October 2008: Government publishes it’s response and a summary report to the Consultation on the EU Commission’s proposed amendments to the EU ETS from 2013
- October 2008: Government has announced the volume of allowances to be auctioned at the first UK auction in the EU ETS. The Government intends to auction 4 million allowances on Wednesday 19th November. The Information Notice is available on the DECC website.
- September 2008: First UK EU ETS auction to be held on Wednesday 19 November 2008. Defra is currently accepting applications for Primary Participant status. Further information on the role of Primary Participants and how to apply can be found on the Primary Participants webpage.
- August 2008: EU ETS Phase II auctions Scheme (PDF) published by HM Treasury
- July 2008: Joint Defra, Environment Agency and Department for Business, Enterprise and Regulatory Reform (BERR) pilot study ‘EU Emissions Trading Scheme – further approaches to benchmarking in steel and cement sectors’ published.
- May 2008: EU ETS: release of 2007 emission results
- May 2008:- Consultation on the EU Commission’s proposed amendments to the EU ETS from 2013 (now closed)
- April 2008: EU Commission announce plans for the release of 2007 data for the EU ETS.
- March 2008: Chancellor: auctioning 100 per cent of allowances to large electricity producers in Phase III of the EU Emissions Trading Scheme
The EU Emissions Trading Scheme (EU ETS) is a Europe wide scheme which aims to reduce emissions of carbon dioxide and combat the serious threat of climate change. EU ETS puts a price on carbon that businesses use and creates a market for carbon. It has been in place since 2005 and is the first scheme of its kind in the world.
The UK is committed to building on the EU ETS as its main way of pricing carbon in the economy, to ensure emissions are effectively limited, and sees the EU ETS Review as an excellent opportunity to map out a long term policy framework and provide clear and convincing signals about the scheme. The key areas that need to be addressed to ensure EU ETS meets its potential are as follows:
- setting safe, stable and affordable emissions limits
- building a global carbon market
- expanding the scheme
- Improving efficiency
Further information
- Phase 1 2005-2008 and Phase II 2008-2012
- Phase II auctioning
- Aviation and surface transport in the EU ETS
- European Commission's review in the EU ETS
See also
Page last modified: 3 December 2008
Page published: 8 September 2003