Commission proposal to reflect hard Brexit
The European Commission proposed changes to the Registry Regulation in order to reflect the negative effects of a possible hard Brexit by limiting the eligibility of allowances issued by the UK after 1 January 2018.
The European Commission submitted yesterday a proposal amending the Registry Regulation in order to safeguard the integrity of the EU ETS in the case of a hard Brexit. On 18 October, the European Parliament and the Council reached already an agreement about the necessity of such a provision. The draft submitted by the European Commission regulates how to implement the safeguards in practice. The draft is available on the following link: https://ec.europa.eu/clima/sites/clima/files/news/20171024_regulation_en.pdf