3/26/2023 0 Comments Syte pricing![]() ![]() - Directive 2008/101/EC of the European Parliament and of the Council amending Directive 2003/87/EC so as to include aviation activities in the scheme for greenhouse gas emission allowance trading within the Community.- Directive 2009/29/EC of the European Parliament and of the Council amending Directive 2003/87/EC so as to improve and extend the greenhouse gas emission allowance trading scheme of the Community.- Directive (EU) 2018/410 of the European Parliament and of the Council of 14 March 2018 amending Directive 2003/87/EC to enhance cost-effective emission reductions and low-carbon investments, and Decision (EU) 2015/1814 (Text with EEA relevance). ![]() - Consolidated version of Directive 2003/87/EC of the European Parliament and of the Council establishing a scheme for greenhouse gas emission allowance trading within the Community and amending Council Directive 96/61/EC.The 2018 revision built on the reform of the ETS framework for phase 3 (2013-2020), which had changed the system considerably compared to the previous phases (12). Helping industry and the power sector meet the innovation and investment challenges of the low-carbon transition via dedicated funding mechanisms - the Innovation Fund and Modernisation Fund.Continuing the free allocation of allowances as a safeguard for the international competitiveness of industrial sectors at risk of carbon leakage, while ensuring that the rules for determining free allocation are focused and reflect technological progress.Strengthening the EU ETS as an investment driver by increasing the pace of annual cap reduction to 2.2% as of 2021, and reinforcing the Market Stability Reserve (the mechanism established by the EU to reduce the surplus of emission allowances in the carbon market and to improve the EU ETS's resilience to future shocks).The legislative framework of the EU ETS for phase 4 was revised in 2018 to ensure emissions reductions in support of the EU's 2030 emissions reduction target (of -40% relative to 1990 level) and as part of the EU's contribution to the Paris Agreement. Now into its fourth trading phase (2021-2030), the ETS framework has undergone several revisions to maintain the system’s alignment with the overarching EU climate policy objectives. The legislative framework of the European carbon market is spelled out in the ETS Directive. ![]()
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