UK ETS Baselining Exercise: Data report template and guidance documents released.
On Friday the 7th of February the UK Government Department for Energy Security and Net Zero (DESNZ) published a series of documents ahead of the upcoming UK ETS baselining exercise, scheduled to take place between 1st of April and 30th of June 2025. These include the template which must to be submitted by all operators, the […]
Postponing start of second UK ETS allocation period?
The UK ETS Authority is seeking opinions about the possibility of delaying the beginning of the next period. On Thursday the 26th of September, the UK ETS Authority called for a view on postponing the start of the second UK ETS allocation period. This follows on from a wider consultation reviewing free allocation policy as […]
UK ETS Authority Consultation
The UK ETS Authority published proposals on three operational changes to the scheme on the 23rd of September 2024. The UK ETS Authority has now begun seeking views on changes to the functioning of the scheme in the following areas: The publication of UK ETS Registry transaction data The disclosure of UK ETS information […]
UK ETS – Inclusion of Greenhouse Gas Removals
In 2023 the UK ETS Authority confirmed their intention to include engineered Greenhouse Gas Removals (GGRs) in the UK ETS in the belief that it would provide an appropriate long-term market for both nature based and engineered GGRs. For details of the UK ETS Authorities response in 2023, see click here. The latest consultation, released […]
TCFD Implementation – FRAB Recommendations
The Financial Reporting Advisory Board (FRAB) recommends a three step approach to TCFD implementation in the public sector. What is TCFD? Created in 2015, the Taskforce on Climate-Related Financial Disclosures (TCFD) set out to develop a framework for public companies to productively disclose climate related risks, with the aim of using these to promote […]
UK ETS Authority – Long-term pathway for UK ETS published
The UK Emissions Trading Scheme (UK ETS) Authority has published a long-term pathway for the UK ETS, as recommended by an Independent Review of Net Zero. The scheme will encourage investment in decarbonisation by providing businesses with certainty. Long term Commitment The legislation underpinning the scheme has been extended to (at least) 2050, when […]
Carbon price set for civil penalties in 2024.
The UK ETS Authority has determined the carbon price for use in civil penalties during the 2024 reporting year will be £64.90. What is the carbon price for civil penalties? Hospitals and small emitters (HSEs) are installations within UK ETS that can chose to opt out of the main scheme, if they meet both of […]
METS (Manage Your UK Emissions Trading Scheme Report Service) Launches
August has seen the launch of the new UK ETS reporting system, METS, which replaces the previous EU based ETSWAP portal. As part of this transition, only the current active permit and a sole primary contact for each installation have been migrated, with the primary contact expected to add all other users as necessary. The […]
ESOS Phase 3 Compliance Deadline Extended.
As announced in the June ESOS newsletter, the ESOS Phase 3 compliance deadline has been postponed until the 5th June 2024 (previously 5th December 2023). Due to changes announced in the UK Government’s ESOS consultation response in July last year, the extension has been granted to allow necessary time to ensure participants meet the new […]
Delayed Launch of ETSWAP Replacement System: METS
A further update on the status of the ETSWAP replacement system has now been circulated by the Regulator. This follows on from our news updates posted about the original timeline of ETSWAP being replaced and a new system launch in October 2022 – click here to read this. And, the subsequent delay of the new […]