A planned link-up of the EU and Swiss carbon markets will be operational from September, the European Commission said, giving companies a broader pool of potential partners with which to trade emissions permits.
FILE PHOTO: Smoke billows from the chimneys of Europe's largest biggest coal-fired power plant, May 7, 2009. REUTERS/Peter Andrews/File Photo
The EU-Swiss emissions trading link has been years in the making, but an initial launch date in May was delayed due to the COVID-19 outbreak. Transactions of allowances between the two markets will be possible from 21 September. Any allowances traded between the two systems will be transferred on 10 one-day windows from September-December. The first transfer window is 28 September.
The EU carbon market covered just shy of 1.6 billion tonnes of carbon dioxide equivalent last year. The Swiss carbon market is much smaller, covering less than 5 million tonnes of CO2e from industrial facilities in 2019.
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