Today the Climate Change Committee debated the main features of a forthcoming amendment to the Regulation which governs the registry infrastructure underpinning the EU Emissions Trading System (EU ETS).
These amendments aim to implement existing provisions in the EU's 2008 climate and energy legislation package.
In relation to international credits generated from Joint Implementation (Emission Reduction Units - ERUs), draft texts for the following provisions were presented by the Commission today:
The debate showed growing consensus on the substance of these amendments.
The Commission also presented a draft text on a clarification of the banking rules related to aviation allowances. This text proposes that 2012 aviation allowances will be carried over to phase 3 without any change in their designation as aviation allowances.
Changes will also be made to implement existing provisions in the Effort Sharing Decision and to determine operational details for the exchange of international credits for phase 3 allowances.
Based on today's positive outcome, a formal proposal will now be finalised by the Commission and submitted to the Climate Change Committee for a vote. As soon as it has been submitted, the proposal will be posted on the Commission's ETS website.
(This updates the original news item.)