|ERU restrictions as from 2013|
|Sunday, 16 December 2012 13:40|
Pursuant to the European Commission communication of 13 December 2013 the Climate Change Committee debates the amendments to the Registry Regulation which relate to international credits generated from Joint Implementation (Emission Reduction Units - ERUs). The Commission signalled that draft texts for the following provisions were presented to the said Committee:
1. in accordance with rules on avoiding the double counting of emission reductions ERUs from projects hosted in Member States related directly or indirectly to activities within the scope of ETS in phase 2 may be issued no later than 31 December 2012;
2. ERUs for emission reductions taking place before 31 December 2012 from projects hosted in Member States related to activities not directly or indirectly in the scope of ETS in phase 2, but included in the scope of ETS from phase 3 onwards, may be issued no later than 30 April 2013;
3. ERUs for emission reductions taking place before 31 December 2012 from projects hosted in third countries not having legally binding quantified emission reductions in the period 2013-2020 may be held in the Union registry provided they are issued by 30 April 2013 and verified in accordance with Joint Implementation track 2 procedures.
The Commission noted in the said communication that the debate “showed growing consensus on the substance of these amendments.”