The Registry of Greenhouse Gas Emission Allowances in the European Union
DOI:
https://doi.org/10.18042/cepc/rdce.53.04Keywords:
Emission allowances, trading, registry, administrator, keeping, accounts, balanceAbstract
Council Directive 2003/87/EC establishing a scheme for emission allowance trading within the Community, lays the foundations for this crucial mechanism to reduce emissions released into the atmosphere; article 19 encourages all member states to create a national registry. This integrated community system of registries is valid until 2013, at which point the European Union intends to create a single EC registry.This registry follows a two-phase system: on the one hand, the Central Administrator, and on the other hand, national administrators, who are responsible for keeping the books on all subjects registered in their territory or jurisdiction. As regards the latter term, we prefer the use of the expression demarcation or registry district.
Another of the novelties found focuses on the designation of the Central Administrator. In the absence of an official appointment, we suggest that the European Securities and Markets Authority be considered to play this role.
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