These regulations aim to ensure that a UK-only version of the Emissions Trading Scheme (EU ETS) operates following the UK's departure from the EU.
This will ensure that the UK maintains a system for greenhouse gas emissions from industrial processes and aviation. References, definitions and processes are updated to reflect that the UK will no longer be an EU Member State
The Greenhouse Gas Emissions Trading Scheme (Amendment) (EU Exit) Regulations 2019 will amend the Greenhouse Gas Emissions Trading Scheme Regulations 2012 on the date the UK leaves the EU (exit day).
What will be updated?
The 2018 regulations aim to ensure that a UK-only version of the EU ETS (Emissions Trading Scheme) operates following the UK’s departure from the EU. References and definitions are updated to reflect that the UK will no longer be an EU Member State.
Amendments made also reflect that the country will no longer have access to, report to or participate in systems associated with the EU ETS. After exit day, EU allowances will not be allocated to UK participants (installations or aircraft operators) in the scheme.
Allowances will still need to be surrendered to the union registry for the 2018 scheme year, but this duty will cease after exit day.
The 2018 regulations retain emissions monitoring, verification and reporting obligations on participants.
The EU ETS established a cap and trade system for greenhouse gas emissions from industrial processes and aviation. Obligated installations were required to surrender a suitable number of allowances to cover their emissions in each calendar year. Small emitters and hospitals may opt-out and be subject to reduced duties.
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