Businesses were briefed on new developments in the EU Emissions Trading Scheme
The Ministry of the Environment organized a webinar for business representatives to provide insights into the new developments in the EU Emissions Trading Scheme (EU ETS), its expansion to include the buildings, transport, and other sectors, along with the introduction of the Border Carbon Correction Mechanism.
Approximately 140 participants attended this meeting, which primarily focused on the planned changes associated with the EU's "Fit for 55" package, comprising over 15 legislative pieces aimed at mitigating climate change by 2030.
Starting next year, there will be alterations to the requirements for existing participants in the EU ETS market, including companies, aircraft operators, and shipping companies. Additionally, new operators, namely regulated entities such as fuel suppliers, will be integrated into the scheme.
Representatives from companies involved in the EU ETS, aircraft operators, shipping companies, fuel suppliers, and their associations were briefed on the evolving requirements of the EU ETS. The session also covered the introduction of a novel Border Carbon Correction Mechanism (BCRM), strategically designed to enhance the competitiveness of EU companies against imports from third countries with potentially "lower" environmental requirements.
The webinar featured presentations by experts from the Ministry of the Environment and the Customs Department, providing comprehensive insights into these innovative changes.
Last updated: 07-01-2024
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