EU set to link emissions trading system with Switzerland’s programme in landmark deal that could provide answers for UK policy post-Brexit
The EU has this week signed a landmark agreement with Switzerland to link the two countries’ emissions trading systems after several years of negotiations.
Under the agreement – which has the backing of European Parliament, European Commission and Swiss Parliament – the EU’s Emission Trading System (EU ETS) will use allowances from the Swiss system for compliance, and vice versa.
While the deal still needs approval from EU leaders and ratification by the Swiss and EU Parliaments, it represents a significant breakthrough to negotiations that have dragged for several years.
In a statement the Swiss government described the news as a “big step forward”.
If all goes to plan, the agreement could be signed by the end of the year and enter force in 2019. Its implementation is set to boost the Swiss market by giving its participating companies, which currently number 54 major emitters, access to a larger market with more liquidity.
In order to bring the Swiss system into alignment with the EU’s, from the moment of linkage the Swiss government said its system would cover aviation emissions from flights in and out of Switzerland to other countries in the European Economic Area.
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