The Swedish Emissions Trading Registry
Under the EU Emissions Trading Directive, each Member State must establish and operate a national registry for the registration of transactions of emission allowances within the EU trading scheme (EU ETS). In Sweden the registry for trading in emission allowances is maintained by the Swedish Energy Agency.
The Union registry contains a register of all Swedish installations according to the Emissions Trading Directive and also the national registry under the Kyoto Protocol. It is an electronic database which according to the Registry Regulation contains the following functions and information:
- Allocation of emission allowances
- Account handling (opening, updating, closing)
- Holding emission allowances
- Transaction of emission allowances
- Tracking emission allowances
- Reporting emissions
- Surrendering emission allowances
- Cancellation of emission allowances
The registry itself not a marketplace for emissions trading. It simply notes completed transactions between two parties. The companies administer their emissions allowances themselves and a transaction is initiated by the seller, who transfers the allowances to the buyer’s account.
On the 30th of april each year, an installation is to surrender allowances in SUS corresponding to that installation’s actual emissions of greenhouse gases. This will be monitored and reported to the Swedish Environmental Protection Agency via the Union registry.
All national registries in the EU are contained in the so-called Union registry. The functions of the registry are defined in the Registry regulation (389/2013/EU). The Registry Regulation is in turn based on decisions made by the parties to the UN Convention on Climate Change, as emission trading will follow the regulations and standards of the Kyoto Protocol from 2008 onwards.
As well as the companies covered by the Emissions Trading Directive (2003/87/EC), individuals and organisations can also open Personal Holding Accounts in any member state registry and trade in emissions allowances. Since the registry is no trading platform anyone interested in trading must contact a broker, exchange or other vendor to set up a sales contract.