The launch of the provisional solution for the transfer of allowances between the registries of the EU and the Swiss emissions trading systems has been postponed for a few months in view of the COVID-19 outbreak.
Against the background of the COVID-19 crisis and the necessary measures taken in this respect, representatives of the Joint Committee established by the Agreement between the European Union and the Swiss Confederation on the Linking of their Greenhouse Gas Emissions Trading Systems agreed to postpone the launch of the provisional solution for the transfer of allowances between the EU Emissions Trading System and the Emissions Trading System of Switzerland, initially planned for May 2020. Instead, both Parties envisage operationalising the link in September 2020.
This postponement will not affect the capability of EU and Swiss operators to surrender emission allowances of both systems for compliance with 2020 emissions in April 2021.
The Linking Agreement between the EU and Switzerland entered into force on 1 January 2020. In order to operationalise the link, the Joint Committee in its Decision 2/2019 provided for a provisional solution for the transfer of allowances to “be in place by May 2020 or as soon as possible thereafter”. The EU and Switzerland will cooperate to replace the provisional solution for the transfer of allowances with a permanent registry link as soon as possible.