What is EU ETS?
EU ETS - European Union Emissions Trading Scheme Resources Assessment Process Related Standards EU ETS - 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 organisation to submit and register your annual GHG independently verified emissions and trade any surplus.
How can LRQA help me?
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.
- 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.