The European Commission announced on 9th July that the total amount of allowances under the EU Emission Trading Scheme will be capped at just under 1.927 billion allowances for 2013. The Commission said, however, that it would revise the cap this September to take into account the extension of the scheme’s scope post-2012. At present, it does not account for new sectors such as aluminium or gases like nitrous oxide, for instance. Further adjustments will be made later if new entrants join the market or if emissions-reduction projects planned under the Kyoto Protocol fail to produce credits for companies to offset their emissions with, according to the Commission. “Final figures for the 2013 cap may thus not be available before 2013,” the EU executive said.
The Commission shall adopt the benchmarks by 31 December 2010 under the Directive. This leaves very little time to the Commission to finalise its proposal as the Member States must vote on it in Comitology and the Parliament has a 3 month scrutiny period.
| Main steps in the process include:
Stakeholder consultations (both “bilateral” and “multilateral” consultations with industry sectors and NGOs) Informal technical working group meetings with Member States |
(last meeting: 1 st July
Still on-going |
| Commission proposal (delayed) | September 2010 |
| Draft decision to Member States (expected) | September 2010 |
| Adoption | December 2010 |
The CTC Network promotes the accelerated transfer of environmentally sound technologies for low carbon and climate resilient development at the request of developing countries.
