What Directive (EU) 2023/959 of the European Parliament and of the Council of 10 May 2023 amending Directive 2003/87/EC establishing a system for greenhouse gas emission allowance trading within the Union and Decision (EU) 2015/1814 concerning the establishment and operation of a market stability reserve for the Union greenhouse gas emission trading scheme requires
This directive mandates a steeper reduction in the EU-wide emissions cap, strengthens the Market Stability Reserve (MSR) by increasing the intake rate and invalidating allowances, and phases out free emission allowances for sectors covered by the Carbon Border Adjustment Mechanism (CBAM) between 2026 and 2034. These changes, amending Directive 2003/87/EC (Article 9 and 10a), apply to all stationary installations, aviation operators, and maritime transport companies under the EU Emissions Trading System.
Pillar: Energy & Utilities · Authority: European Parliament and the Council of the European Union · Version: 1.0.0 · Last updated:
Primary source: https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A32023L0959
SHA-256 integrity: 045e8cbb215e71d26be04856ae365dc40517c1d3c7cc15c12d30f3ff112fdb18
Primary Citations — 7 traced to source
- Directive (EU) 2023/959, Article 1(5), amending Article 9 of Directive 2003/87/EC - Union-wide quantity of allowances
- Directive (EU) 2023/959, Article 1(8), amending Article 10a(1a) of Directive 2003/87/EC - Transitional rules for free allocation
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