Executive Briefings

EU, Australia Agree to Link Greenhouse Gas Emissions Trading Systems

European climate commissioner Connie Hedegaard and Australian climate change minister Greg Combet have announced that Australia and Europe will link their emissions trading systems, which will allow businesses to use carbon trading units from either trading scheme for compliance under either system.

A full two-way link between the two cap and trade systems - the first full international linking of emission trading systems - will begin no later than July 1, 2018.

Together, the linked Australian and European emissions trading systems will be the world's largest carbon market, according to the EU and the Australian government.

As an interim arrangement, a partial link will allow Australian businesses to buy and use European Union Emissions Allowances to meet up to 50 percent of their liabilities under the Australian scheme from July 1, 2015 until the full link takes effect.

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A full two-way link between the two cap and trade systems - the first full international linking of emission trading systems - will begin no later than July 1, 2018.

Together, the linked Australian and European emissions trading systems will be the world's largest carbon market, according to the EU and the Australian government.

As an interim arrangement, a partial link will allow Australian businesses to buy and use European Union Emissions Allowances to meet up to 50 percent of their liabilities under the Australian scheme from July 1, 2015 until the full link takes effect.

Read Full Article