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On the eve of emission allowances trading
German Emissions Trading Authority at Federal Environment Agency preparing introduction of trade
Year of issue
Date 05/04/2004
Date 05/04/2004
The Federal Environment Agency (UBA) is working flat out to organize emission allowances trading in Germany. UBA President Prof. Dr. Andreas Troge said, “We are well-positioned to meet the tight deadline for introduction of emissions trading. The Federal Environment Agency has been working on laying the legal foundations for emissions trading for a long time and has gained important experience.” The UBA is currently preparing allocation of certificates. Dr. Hans-Jürgen Nantke, Director of the Emission Allowances Trading Authority, said, “The entire procedure will operate by and large electronically and is designed to be service-oriented. The Emissions Trading Authority will keep companies taking part in emissions trading updated on further steps to be taken.”
The Greenhouse Gas Emission Trading Law (Treibhausgas-Emissionshandelsgesetz, TEHG) provides the legal framework for emission allowance trading in Germany, and the National Allocation Plan determines the number of certificates that each facility is granted. The German Emissions Trading Authority (DEHSt) plans to issue the emissions certificates until 30 September 2004, to make electronic trading accounts available starting this fall, and to guarantee international coordination with the EU and the United Nations Climate Secretariat.
The EU has handed down a tight schedule for allocation of certificates to some 2,400 participating facilities. By 30 September 2004, every concern is to be apprised of how many certificates per facility (which are free in Germany) it will be granted. As of 1 July 2004, the DEHSt will accept applications for allocation of emissions licenses. Beginning in late autumn any body politic or natural person interested in trading may open an electronic account. Trading in Europe starts 1 January 2005.
Troge pointed out that one of the economic effects of trading not to be overlooked will be the creation of new service provider markets in this field. New fields of activity will arise, e.g. for consultants, traders, and for private trade platforms.