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“Common EU emissions registry to open in June”
London, 27 April (Argus) — The EU's common emissions registry will open in June, the European Commission said today.
Full activation of the single registry includes the migration of more than 30,000 EU emissions trading scheme (ETS) accounts from national registries. Current registry system operations will be suspended two weeks before full activation, and during this time account holders will not be able to access allowances held in these accounts, the commission said.
Also, three weeks before the “two-week transition period” begins, account holders will be unable to open or close accounts. After the transition, there will be additional documentation requirements and security features that account holders will need to comply with in order to access the transferred accounts in the single registry.
“The European Commission is committed to a smooth transition for registry account holders and is working closely with the member states to achieve this,” the commission said.
The EU will release more information on the exact timetable, including start and end dates of the transition, on its website on 3 May.
The revised ETS directive that was adopted in 2009 provides for the centralisation of the ETS into a single EU registry. This single union registry will “ensure the accurate accounting of all emissions allowances issued under the EU ETS,” according to the commission. The EU partially activated its union registry in Janauary to allow airlines to open accounts.