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Account opening in the Cypriot Emissions Trading Registry Cyprus Emissions Registry Accounts To open a new account on the Registry, please contact Tornaritis Law Firm at...

Account opening in the Cypriot Emissions Trading Registry

Cyprus Emissions Registry Accounts

To open a new account on the Registry, please contact Tornaritis Law Firm at This email address is being protected from spambots. You need JavaScript enabled to view it. and the necessary guidance will be forwarded to you.

 How does emission trading work ?The EU Emissions Trading Scheme (EU ETS) creates a price for carbon and thereby offers the most cost-effective way to achieve the reductions in greenhouse gas emissions. The common trading ‘currency’ of the EU ETS is an emission allowance

Overview of the European Union Emissions Trading Scheme

The Emissions Trading Scheme (ETS) is one of the key policies introduced by the European Union (EU) to reduce emissions of carbon dioxide and other greenhouse gases. The EU ETS commenced operation in January 2005. The scheme is based on Directive 2003/87/EC, which entered into force on 25 October 2003.  The EU ETS is being implemented in distinct phases or ‘trading periods.’

Legislation

The operation of the EU Emissions Trading Scheme and of the Registry is governed by Directive 2003/87/EC establishing a scheme for greenhouse gas emission allowance trading, as amended by Directive 2004/101/EC  in respect of the Kyoto Protocol’s project mechanisms and Directive 2009/29/EC in respect of improving and extending the greenhouse gas emission allowance trading scheme of the Community.

The revised ETS Directive (Directive 2009/29/EC) provides for the centralisation of the EU ETS operations into a single European Union Registry, operated by the Commission.  The single Union registry has replaced all EU ETS registries hosted in the Member States since June 2012.

These Directives were transposed nationally through the European Communities (Greenhouse Gas Emission Trading) Regulations 2004 to 2005 (S.I. 437 of 2004 and S.I. 706 of 2005), and the Kyoto Protocol Flexible Mechanisms Regulation (S.I. 244 of 2006).

The technical and operational detail regarding the requirements for the implementation and operation of the Registry system over the period 2013-2020 is governed by Commission Regulation (EC) No 389/2013.  Read Commission Regulation No. 389/2013 of 2 May 2013.

More information how oo open a new account on the Registry, please contact Tornaritis Law Firm at This email address is being protected from spambots. You need JavaScript enabled to view it.and the necessary guidance will be forwarded to you.

TORNARITIS LAW FIRM

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