Directive 2009/29/EC - EU Emissions Trading Scheme
STATUS:
Law and implementing regulations are either in effect.
TIME FRAME Start:
April 23, 2009
TIME FRAME End:
2020
DESCRIPTION:
The main long-term incentive for CCS (and new renewable technologies) is that between 2013 and 2020 allowances need not be surrendered for carbon dioxide emissions which are permanently stored or avoided. Up to 300 million allowances in a new entrants ’reserve shall be available until 31 December 2015 to help stimulate the construction and operation of up to 12 commercial demonstration projects that aim at the environmentally safe capture and geological storage (CCS) of CO2 as well as demonstration projects of innovative renewable energy technologies. After 2013, however, no free allowances are to be provided. In addition, Member States at least 50% of revenues generated from the allocation of allowances is to go to towards a number of greenhouse gas mitigation options, including CCS.
