{"id":5866,"date":"2025-02-24T17:12:16","date_gmt":"2025-02-24T16:12:16","guid":{"rendered":"https:\/\/www.salviniesoci.it\/lemission-trading-system-europeo\/"},"modified":"2025-02-24T17:16:59","modified_gmt":"2025-02-24T16:16:59","slug":"lemission-trading-system-europeo","status":"publish","type":"page","link":"https:\/\/www.salviniesoci.it\/en\/lemission-trading-system-europeo\/","title":{"rendered":"The EU Emission Trading System"},"content":{"rendered":"

The Emission Trading System has been in force in the European Union and in Italy for some years now, as a pillar of European policies on energy transition, with the specific aim of combating climate change. In this context, the ETS system \u2013 providing for the payment of a cost for the CO2 released into the environment by companies, so as to push \u201cpolluting\u201d operators to do everything possible to limit its production \u2013 is based on the exchange of emission quotas and, in other words, on the exchange of \u201cpollution permits\u201d.
\nThe founding EU Directive, 2003\/87\/EC (and subsequent amendments), first of all required highly polluting plants located in the EU territory to obtain an authorization for greenhouse gas emissions; It then established the European Union Emissions Trading Scheme (EU ETS), according to which each authorised installation must annually offset its emissions with allowances (European Union Allowances \u2013 EUA, equivalent to 1 tonne of CO2) that can be bought and sold by individual interested operators.
\nThe EU Single Registry, as an electronic database, keeps track of all transfers of ownership of allowances and allows operators to offset, annually, their emissions by returning allowances to Member States. Each installation subject to the exchange is also required to comply with a series of monitoring obligations, aimed at keeping track of their emissions.
\nCompanies that do not correctly comply with the obligations to monitor and return allowances are subject to sanctions, including significant ones, which however do not replace but are in addition to the obligation to return allowances.
\nAlthough the allowance trading system has been in operation for several years, it is constantly evolving. It is enough to mention the progressive reduction of free quotas and the increasingly accentuated financialization and specialization of the quota markets, as well as lastly the connection of the ETS with the Carbon Border Adjustment Mechanism (CBAM), a system in force for the first obligations already in 2024 and which, albeit with various critical application issues, tends to avoid the phenomena of relocation of production plants outside the EU.
\nIn addition to this, the ETS system has only recently been extended to other production sectors such as, for example, aviation and maritime, and, starting from 2025 (albeit with only the monitoring and reporting of emissions), it will be active in the form of ETS2, i.e. a system also applicable to suppliers of energy products, to consumption in the road transport sector, commercial or residential buildings, up to reaching SMEs.
\nUnfortunately, the application practice of the allocation and circulation of quotas in the production sectors originally included in the system still suffers from uncertainties regarding the legal qualification, accounting treatment and compliance, and tax regime. From a different point of view, we are witnessing a high volatility in the price of EUAs. Given these premises, an aware and effective corporate management of the ETS system appears more necessary than ever. For this reason, Salvini e Soci \u2013 Studio Legale Tributario founded by F. Gallo has created, together with two other highly specialized partners, the \u201cCarbon Compliance Club<\/strong><\/a>\u201d, as an entity that brings together, under a single brand, different skills, essential in the implementation \u2013 as complete and interdisciplinary as possible \u2013 of all the obligations that the ETS system imposes on companies.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Emission Trading System has been in force in the European Union and in Italy for some years now, as a pillar of European policies on energy transition, with the specific aim of combating climate change. In this context, the ETS system \u2013 providing for the payment of a cost for the CO2 released into… Read more »<\/a><\/p>\n","protected":false},"author":3,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-5866","page","type-page","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.salviniesoci.it\/en\/wp-json\/wp\/v2\/pages\/5866","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.salviniesoci.it\/en\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.salviniesoci.it\/en\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.salviniesoci.it\/en\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.salviniesoci.it\/en\/wp-json\/wp\/v2\/comments?post=5866"}],"version-history":[{"count":2,"href":"https:\/\/www.salviniesoci.it\/en\/wp-json\/wp\/v2\/pages\/5866\/revisions"}],"predecessor-version":[{"id":5868,"href":"https:\/\/www.salviniesoci.it\/en\/wp-json\/wp\/v2\/pages\/5866\/revisions\/5868"}],"wp:attachment":[{"href":"https:\/\/www.salviniesoci.it\/en\/wp-json\/wp\/v2\/media?parent=5866"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}