Emissions trading schemes—EU/UK comparison
Produced in partnership with Steven Gray of DLA Piper UK LLP
Practice notesEmissions trading schemes—EU/UK comparison
Produced in partnership with Steven Gray of DLA Piper UK LLP
Practice notes
Since the end of the Brexit transition period (IP completion day) on 31 December 2020, the UK no longer participates in the Emissions Trading System (ETS) of the EU. The EU ETS seeks to limit the total amount of certain greenhouse gases (GHG) emitted by factories, power plants and other installations in the system through a scheme of allowance trading under a cap and trade system. For more details on the EU ETS and carbon trading, see Practice Notes:
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EU Emissions Trading System (ETS) Phase IV—Directive 2003/87/EC
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EU Emissions trading system—outline
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EU Emissions Trading System (ETS) for aviation
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EU Emissions Trading System (ETS) for maritime transport
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EU Emissions Trading System (ETS II) for buildings, road transport, and additional sectors
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Carbon markets—basic principles and future developments
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Carbon markets—carbon trading agreements
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Carbon markets—price of Carbon
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Carbon markets—international emissions trading schemes
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When is a greenhouse gas permit required under Phase III EU ETS? [Archived]
Prior to Brexit, the EU ETS was implemented in the UK by the
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Jurisdiction(s):
United Kingdom
Key definition:
EU ETS definition
What does EU ETS mean?
EU Emissions Trading System: Formerly referred to as the eu emissions trading scheme, the EU ETS is one of the key policies introduced by the EU to help meet its greenhouse gas emissions target of 8 percent below 1990 levels under the protocol'>kyoto protocol. It is a Europewide cap and trade scheme that started in 2005 and is the first of its kind. Each EU member state must develop a National Allocation Plan approved by the European Commission which sets an overall cap on the total emissions allowed from all the installations covered by the System. This is then converted into allowances (1 allowance equals 1 tonne of CO2) which are distributed by EU member states to installations covered by the System. At the end of each year, installations are required to surrender allowances to account for their actual emissions. Installations can emit more than their allocation by buying allowances from the market or can sell surplus allowances to the market.
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