The EU Emissions Trading Scheme involves the allocation and trading of greenhouse gas (GHG) emission allowances throughout the European Union, with caps set by each member state. Allowances are then distributed to each installation covered by the scheme.
Phase III of the EU Emissions Trading Scheme was introduced in 2013 and will remain in effect until 31st of December 2020. Phase III includes harmonised allocation methodologies, additional greenhouse gases and emission sources.
Phase III requires each eligible installation to produce an annual emissions report. These reports require an independent verification report to be submitted to the relevant Regulator between the 28th of February and the end of March each year (deadline depending on the Member State where the installation is operated), verifying emissions for the previous calendar year. Allowances equal to these verified emissions must then be surrendered.
Whether your organisation is new to EU ETS or has moved from Phase II, LR can help you meet your mandatory reporting requirements, with independent third-party verification.
Lloyd’s Register can help by undertaking accredited EU ETS verification across the EU including annual verification, new entrant reserve applications, closures and rationalisations and Phase III gap analysis and support.
Our specific focus on phased verification means we can minimise the risk of non-compliance with the Scheme. Normally a two-stage verification, our staged approach aims to reduce the disturbance to you.
Benefits of the EU Emissions Trading Scheme
- Stakeholder confidence - demonstrate that your organisation is meeting emissions targets
- Reduce costs - sell any surplus credits your organisation no longer needs
- Minimising risk – phased verification minimises the risk of non-compliance
- Competitive advantage – protect your organisation's financial position and brand reputation.
Why choose Lloyd’s Register for EU Emissions Trading Scheme?
Verification experts - Our verifiers are verification and management system experts, qualified in all aspects of emissions verification.
Experience - Lloyd’s Register was one of the first verification bodies to gain accreditation. In the UK we have a full scope accreditation by UKAS and our wealth of experience will directly benefit your organisation.
Proven Track Record - We have high profile clients in the waste management, utilities, metallurgy, oil & gas, nuclear and government sectors.