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Emissions trading: Application phase successfully completed
Year of issue
Date 21/09/2004
Date 21/09/2004
More than 2,300 electronic notifications of emissions allowances were received by the end of the application deadline at twelve o’clock midnight on September 20, 2004, by the German Emission Allowance Trading Authority (DEHSt) at the Federal Environment Agency. “Businesses have successfully completed the application procedure despite tight deadlines”, said Prof. Dr. Andreas Troge, President of the Federal Environment Agency. “Postponing the application deadline by four weeks upon the initiative of the Federal Ministry for Environment proved to have a particularly positive effect”, added Hans-Jürgen Nantke, Director of the DEHSt. “Participating businesses used this time to prepare for the application procedure. The DEHSt offered support by providing comprehensive information about emissions trading”.
The DEHSt has begun review of the applications. In all probability businesses will receive individual notification of allocation in November, 2004. The law has established an annual maximum emissions allowances budget of 495 million tons of CO2.
The application procedure was carried out entirely by electronic means, from in-company data collection to transmission to the DEHSt. The Federal Environment Agency believes it was worth the effort. “Electronic communication helps considerably to keep administrative costs in emissions trading low”, said Nantke. This is important because the national authority is funding its activities with the fees paid by the participating companies. Electronic communication between businesses and the Authority will continue to be used when notification of allocation is sent and emissions trading accounts are opened.
The exact and final number of valid applications is pending completion of the review process.