This category contains 6 posts

Brexit: UK to run own ETS – will it link to the EU ETS?

The UK’s Department of Business, Energy, and Industrial Strategy (BEIS) has announced that a standalone Emissions Trading Scheme (ETS) will run in the UK after Brexit, replacing the European ETS in the UK. The objective is to initially shadow the EU ETS but eventually tighten it in order to achieve the “net zero by 2050” … Continue reading

5 months to Brexit – EMIR announcements, the US joins the fight, UK ETS replacement

In 5 months’ time, the UK will no longer be part of the European Union. With no deal agreed at this stage, many are now preparing for a “hard Brexit” scenario. There have been a few developments since our last post on the topic here. EMIR The UK Government has now published a draft Statutory … Continue reading

Brexit developments

While Brexit has been making general political headlines (for example see The Telegraph here), more sector specific issues are of key importance, if planning for March 2019 is to be at all possible. Last week Christopher Giancarlo, the Chair of the CFTC gave this speech at the Bürgenstock conference. The speech includes comments relating to … Continue reading

Impact of MiFID II on Emissions Allowances

MiFID II brings in some important changes to the applicability of financial regulation to Emissions Allowances under the ETS. In particular actual allowances are brought into scope with Annex I Section C11. There are also specific exemptions from MiFID for “Compliance Operators”. The IETA have produced this useful info chart summarising many of the changes. … Continue reading

ETS Update

There have been a few developments and articles since our last post on the Emissions Trading Scheme: It has been reported that emissions capped by the ETS in 2014 have fallen according to this article on the Reuters website. The article contains a variety of statistics on actual emissions measured, both within the EU and also … Continue reading

The EU Energy Union, ETS scheme and EMR

This week saw the launch of the EU Energy Union. This initiative sets out several objectives in order to further integrate the governance and running of the EU’s energy strategy. On the wholesale side, this includes further proceeding with the 3rd Energy Package, a market re design, and also the strengthening of the powers of … Continue reading