How do I comply with EU ETS?

To comply with the European Union Emissions Trading System (EU ETS), your installation must legally hand over (surrender) enough allowances to cover your emissions from the previous year. Allowances are issued every February for the following year. The deadline for surrendering allowances is 30 April every year.

Who does the EU ETS apply to?

operates in all EU countries plus Iceland, Liechtenstein and Norway (EEA-EFTA states), limits emissions from around 10,000 installations in the power sector and manufacturing industry, as well as airlines operating between these countries, covers around 40% of the EU’s greenhouse gas emissions.

What are ETS sectors?

Greenhouse gas emissions in Ireland Any company or body within the EU that emits a large amount of greenhouse gas emissions is included in the Emissions Trading System, commonly known as the ETS for short. This includes large industries, electricity generators, and the aviation industry.

What are EU ETS benchmarks?

In other words, benchmarks are reference values for the greenhouse gas emissions, in tCO2, relative to a production activity, used to determine the level of free allocation that each installation within each sector will receive. …

What is an EU ETS allowance?

The EU ETS works on a ‘cap and trade’ basis, so there is a ‘cap’ or limit set on the total greenhouse gas emissions allowed by all participants covered by the System and this cap is converted into tradable emission allowances. One allowance gives the holder the right to emit 1 tonne of CO2 (or its equivalent).

Does EU ETS cover methane?

There is no EU legislation, which addresses specifically methane emissions of the energy system via either MRV, LDAR or limits on venting or flaring of methane.

How does the EU ETS tackle the problem of CO2 emissions?

The EU ETS follows a “cap-and-trade” approach: the EU sets a cap on how much greenhouse gas pollution can be emitted each year, and companies need to hold European Emission Allowance (EUA) for every tonne of CO2 they emit within one calendar year. They receive or buy these permits – and they can trade them.

Has EU ETS worked?

We find that the EU ETS saved about 1.2 billion tons of CO2 between 2008 and 2016 (3.8%) relative to a world without carbon markets, or almost half of what EU governments promised to reduce under their Kyoto Protocol commitments. Emission reductions in sectors covered under the EU ETS were higher.

Which is Phase III of the EU ETS?

European Union Emissions Trading System (EU ETS) Phase III European Union Emissions Trading System (EU ETS) Phase III Guidance for installations How to comply with the EU ETS, including the Small Emitter and Hospital Opt-Out Scheme May 2018 2 of 62

When did the EU ETS directive come into effect?

Main EU ETS legislation. 08/04/2018 – Consolidated version of Directive 2003/87/EC of the European Parliament and of the Council establishing a scheme for greenhouse gas emission allowance trading within the Community and amending Council Directive 96/61/EC

What are the targets for Phase 4 in the EU?

Revision for phase 4 (2021-2030) To achieve the EU’s overall greenhouse gas emissions reduction target for 2030, the sectors covered by the EU Emissions Trading System (EU ETS) must reduce their emissions by 43% compared to 2005 levels.

How is compliance with the ETS directive ensured?

Compliance with the EU ETS Directive is ensured by wide array of instruments. Firstly, the EU ETS Directive provides for an excess emissions penalty in the form of €100 (indexed) for each tonne of CO2 emitted for which no allowance has been surrendered in due time.