EU carbon market compliance deadline unchanged for 2023 –EU Commission

European Union flags flutter outside the EU Commission headquarters in Brussels
European Union flags flutter outside the EU Commission headquarters in Brussels, Belgium June 17, 2022. REUTERS/Yves Herman//File Photo

LONDON, Jan 31 (Reuters) - The deadline for firms covered by the European Union’s Emissions Trading System (ETS) to comply with the scheme this year will remain April 30, the European Commission said, with changes to the date possible from 2024.

The ETS forces manufacturers, power companies and airlines to pay for each tonne of carbon dioxide they emit as part of Europe's efforts to meet its climate targets.

Participants each year must surrender carbon allowances equivalent to their emissions by April 30.

“For 2023, the… deadlines remain unchanged,” the European Commission said on its website late on Monday.

But as part of a deal to reform the bloc’s carbon market negotiated last year the annual compliance deadline could be moved to September 30 in the future, giving companies and countries more time to implement changes.

A deadline for countries to hand out free permits under the system would be moved to June 30 from February 28, the Commission said.

Any changes to the compliance cycle would be made once the market reforms have been formally approved, the Commission said.

Reporting by Susanna Twidale; editing by Jason Neely

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