UK registry opens for EU emissions trading scheme

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The Government has announced the opening of the UK registry for the EU Emissions Trading Scheme. Firms covered by the EU Emissions Trading Scheme will be able to open their UK carbon accounts following the opening. This Scheme is one of the government's main components in the fight against climate change. The allowances for installations covered by Phase I of the Scheme have also been published. Emissions trading will start in the UK with the UK Registry becoming operational, allowing operators participating in the scheme to access their allowances. These are the final steps towards full UK participation in the Scheme. Operators will be able to begin trading the allowances once their Registry accounts are opened this week. The Emissions Trading Registry is web-based, and records CO2 allowances held in firms accounts. The Registry allows allowances to be transferred to other accounts both within the UK and in other participating countries. The Registry software, developed by DEFRA, has been a great success having been licensed to 12 other States. Further information is available on http://www.defra.gov.uk/environment/climatechange/trading/eu/index.htm

 

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