EU ETS - European Union Emissions Trading Scheme
The EU ETS is the largest multi-national regulated emissions trading scheme in the world. From 1 January 2005, participating organisations under the EU ETS are obliged to have their annual greenhouse gas (GHG) emissions independently verified and to surrender an equivalent number of allowances.
eu ets, emissions trading, climate change, european union emissions trading scheme
What is EU ETS?
The EU ETS is the largest multi-national regulated emissions trading scheme in the world applicable to more than 14,000 installations and operators throughout Europe. The EU ETS has been structured into three clearly defined phases to drive compliance across existing and emerging sectors:
Phase 1 2005-2007; covering sectors such as energy, pulp and paper, minerals and metals
Phase 2 2008-2012; expanded to sectors such as gypsum, petrochemical crackers and aviation
Phase 3 2013-2020; agreement to include carbon capture and storage (CCS) and potentially other sectors and gases
From 1 January 2005, participating organisations under the EU ETS are obliged to have their annual greenhouse gas (GHG) emissions independently verified and to surrender an equivalent number of allowances.
Why is EU ETS Verification important for my organisation?
It publicly demonstrates your company's compliance with scheme requirements and delivers credibility
It enables your organization to submit and register your annual GHG independently verified emissions and trade any surplus
How can LRQA help me?
We have been successfully delivering accredited EU ETS verification since 2005. The LRQA Business Assurance approach to climate change verification ensures that we understand the complexities of the EU ETS scheme and that our structured project management approach will deliver tangible benefits to your organisation, including:
establishing the integrity of your system(s) and processes that generate your emission data
helping identify deficiencies against stated requirements, at the earliest possible opportunity
helping recognise opportunities for improvement in the accuracy and completeness of your data
achieving cost savings & benefits from the avoidance of penalties and the allocation of allowances
We know that good communication is pivotal in delivering transparency through every step of the EU ETS process. We work with our clients and governing organisations and set clear expectations to all parties on deliverables. Our staged verification approach ensures your verification is cost-effective with minimal disruption and completed within critical timelines.
CONTACT US: To find out more about how LRQA can help you with your GHG emissions management, call us at +44(0)2476 882373 or email us at climate-change@lrqa.com
Find out more about our Climate Change & Sustainability services and team.
Download our 'Turn Carbon into an Asset with EU ETS Verification' leaflet.