The UK Emissions Trading Scheme (UK ETS) was the world's first economy-wide greenhouse gas emissions trading scheme. The first phase of the UK ETS ended in December 2006, with final reconciliation completed in March 2007. It closed to direct participants at this time. As Climate Change Agreements (CCAs) extend beyond 2006, CCA holders are able to continue using UK ETS, e.g. target units that over-achieve against targets may convert that over-achievement into allowances for sale in the UK ETS. Similarly, target units that fail to meet targets through direct means may make up the shortfall by purchasing and retiring UK ETS allowances.
The Emissions Trading Registry was therefore re-branded to reflect the CCA focus of the registry from March 2007 onwards. The scheme continues to operate as part of Climate Change Agreements.
Although the scheme closed to direct participants in 2006, those direct participants who continue to hold allowances are still able to trade them through the registry, and the relevant rules apply. Any other person holding allowances is also able to trade via a trading account, subject to the relevant rules.
Access to UK ETS
Trading for CCA purposes can be undertaken on the CCA Trading Registry website.
UK ETS consolidated rules (last revised January 2010)
The rules regarding the use of UK ETS are contained in the UK Greenhouse Gas Emissions Trading Scheme 2002. A consolidated version of these rules can be found below:
Please note that Part D is relevant for CCA participants. Part D and its schedule have been consolidated. Earlier parts may no longer be relevant (for example, rules for direct participants’ compliance) but have not been removed.
Previous information
UK ETS information and documents previously available on the Defra website, such as reports on the operation of the scheme and registry reports, have now been archived by the National Archives. The archived web pages can be acessed via the National Archives: Defra - UK Emissions Trading Scheme web pages.