Trading EU Emissions Allowances Could Create Compliance Risks


The extension of the EU’s Emissions Trading System (ETS) to cover EU shipping from April 2023 will create additional compliance for shipping companies, as Smith Reed’s Brett Hillis explains.

While shippers have focused on the practical implications of the recently approved extension of the EU’s Emissions Trading System to cover some vessels operating in the waters of the bloc’s member states from April 2024, ETS experts at legal practice Reed Smith explain that shipping companies considering bidding for, trading in or providing services relating to EU emissions allowances runs the risk of falling within the scope of regulations governing financial instruments under EU/EEA and UK laws.

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