Transfer of carbon allowances proposal approved

European Commission proposals to transfer carbon allowances recorded in national emission trading system registries to a single EU Emissions Trading System (EU ETSⁱ) registry from 2012 have been approved in the Climate Change Committee. The Commission believes that the revision of the system of registries underpinning the EU ETS will make the system more standardised and secure.

The approved proposals also include bringing the aviation sector into the EU ETS from 2012 and addressing the recent spread of fraudulent and criminal activities against the registries system. Under the proposals, Member States will have a range of measures that will allow them to combat fraud. The revised Regulation will now be examined by the European Parliament and Council and formally adopted by the Commission as swiftly as possible. Most of the revision will apply from
1 January 2012, but the anti-fraud provisions will enter into force once the revision is published in the Official Journal, which is expected to happen this summer. http://ec.europa.eu/environment/climat/emission/citl_en.htm