S.7.1. The European Emissions Trading System

D.7.1. The European Emissions Trading System

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EU temporarily suspends UK carbon permit processes ahead of Brexit

Friday, December 21, 2018

The EC has temporarily suspended emissions trading system processes for Britain due to the lack of clarity as to the country’s relationship with the EU after Brexit. As from 01 January next year, Britain will be unable to auction carbon permits, allocate them to operators free of charge, or exchange international credits for as long as the suspension remains in place. According to the EC, the transfer of permits already in circulation in the UK will not be affected. This amendment to the Registry Regulation has been submitted to the EP and the European Council for approval.