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FEDERALE DIENSTEN VOOR HET LEEFMILIEu DIENST STUDIE EN COÖRDINATIE Peter Wittoeck – CLIMNEG 2 – 16.12.20021 EU Directive on Emission Allowance Trading.

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Presentatie over: "FEDERALE DIENSTEN VOOR HET LEEFMILIEu DIENST STUDIE EN COÖRDINATIE Peter Wittoeck – CLIMNEG 2 – 16.12.20021 EU Directive on Emission Allowance Trading."— Transcript van de presentatie:

1 FEDERALE DIENSTEN VOOR HET LEEFMILIEu DIENST STUDIE EN COÖRDINATIE Peter Wittoeck – CLIMNEG 2 – EU Directive on Emission Allowance Trading State of play Peter Wittoeck FOD Volksgezondheid, Veiligheid voedselketen en Leefmilieu DG Leefmilieu – Eenheid klimaatverandering

2 FEDERALE DIENSTEN VOOR HET LEEFMILIEu DIENST STUDIE EN COÖRDINATIE Peter Wittoeck – CLIMNEG 2 – Timeline (past) Cion Green Paper stakeholder consultations Proposal for a Directive EU (Env.) Council orientation debate on major issues Progress reports to all EU (Env.) Council meetings in 2002 EP amendments Political agreement Council

3 FEDERALE DIENSTEN VOOR HET LEEFMILIEu DIENST STUDIE EN COÖRDINATIE Peter Wittoeck – CLIMNEG 2 – Time line (future) Adoption of preambular paragraphs 2 nd reading in EP 2 nd reading in Council Conciliation procedure? In time for implementation by MS by dec. 2003?

4 FEDERALE DIENSTEN VOOR HET LEEFMILIEu DIENST STUDIE EN COÖRDINATIE Peter Wittoeck – CLIMNEG 2 – General characteristics Cap and trade 2 trading periods:  (pre-Kyoto)  (Kyoto 1 st c.p.) Entity trading Focus on energy intensive industries Focus on CO 2 emissions

5 FEDERALE DIENSTEN VOOR HET LEEFMILIEu DIENST STUDIE EN COÖRDINATIE Peter Wittoeck – CLIMNEG 2 – Main crunch issues Mandatory or voluntary? Participating sectors/gases Allocation Compliance Banking Links with other systems

6 FEDERALE DIENSTEN VOOR HET LEEFMILIEu DIENST STUDIE EN COÖRDINATIE Peter Wittoeck – CLIMNEG 2 – Participation/coverage Mandatory for all EU Member States  BUT: Possibility to link to other DET (e.g. new MS) Mandatory for sectors covered by annex I (energy intensive, above threshold):  Combustion installations  Oil refineries  Coke ovens  Ferrous metals  Cement  Glass  Ceramic products  Pulp and paper

7 FEDERALE DIENSTEN VOOR HET LEEFMILIEu DIENST STUDIE EN COÖRDINATIE Peter Wittoeck – CLIMNEG 2 – Participation/coverage BUT:  Possibility to OPT OUT in 1 st period  Possibility to OPT IN: smaller installations in Annex I from 2005 additionnal activities and gases from 2008  Review by proposal to include other activities and gases AND:  All ‘persons’ may participate in trading

8 FEDERALE DIENSTEN VOOR HET LEEFMILIEu DIENST STUDIE EN COÖRDINATIE Peter Wittoeck – CLIMNEG 2 – Initial allocation methodology 1 st period ( )  free allocation (grandfath./benchmark.)  based on criteria contained in annex III (not very specific)  BUT: further (facultative) guidance to be developed by Cion.  ! NAP to be submitted to Cion by nd period ( )  maximum 10 % auctioning  2004 review will consider further harmonisation

9 FEDERALE DIENSTEN VOOR HET LEEFMILIEu DIENST STUDIE EN COÖRDINATIE Peter Wittoeck – CLIMNEG 2 – Pooling (German proposal) Aim = shield entire sectors from rules on:  Allocation  Monitoring, reporting and verification  Liability/compliance Main risk for other MS:  Market power (Germany has ½ of installations) Result:  confirmation that pooling allowances is permitted (which it was already)  +/- same rules  need for Cion approval

10 FEDERALE DIENSTEN VOOR HET LEEFMILIEu DIENST STUDIE EN COÖRDINATIE Peter Wittoeck – CLIMNEG 2 – Compliance Emissions report not satisfactory:  suspension of eligibility to transfer Insufficient allowances:  ‘Name and shame’  Penalty: : € 40/ton CO 2 eq : € 100

11 FEDERALE DIENSTEN VOOR HET LEEFMILIEu DIENST STUDIE EN COÖRDINATIE Peter Wittoeck – CLIMNEG 2 – Banking Between 1 st and 2 nd period:  MS may allow banking  Kyoto does not recognise 1 st period allowances Between 2 nd and subsequent:  Allowed  Necessary to mirror Kyoto banking

12 FEDERALE DIENSTEN VOOR HET LEEFMILIEu DIENST STUDIE EN COÖRDINATIE Peter Wittoeck – CLIMNEG 2 – Links with other schemes Other ET schemes:  Only with Kyoto Annex B Parties  Through ‘agreements’, art. 300 EC  Risk: flooding EU market with ‘hot air’  MS may trade individually Project-based mechanisms, incl. JI & CDM:  Credits will be recognised in future  Modalities to be decided in separate Directive in 2003  Is Cion preparing an EU credit-based instrument?


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